Atum Co Beneish M-Score Historical Data
The historical data trend for Atum Co's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Atum Co Beneish M-Score Chart
|
Atum Co Annual Data
|
|
Trend |
Jun19 |
Jun20 |
Jun21 |
Jun22 |
Jun23 |
| Beneish M-Score |
|
- |
- |
-4.06 |
-2.51 |
-3.81 |
|
Atum Co Semi-Annual Data
|
|
Jun19 |
Jun20 |
Jun21 |
Jun22 |
Jun23 |
| Beneish M-Score |
- |
- |
-4.06 |
-2.51 |
-3.81 |
Competitive Comparison of Atum Co's Beneish M-Score
For the Electrical Equipment & Parts subindustry, Atum Co's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Atum Co's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Atum Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Atum Co's Beneish M-Score falls into.
Atum Co Beneish M-Score Calculation
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Atum Co for today is based on a combination of the following eight different indices:
| M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
| = | -4.84 | + | 0.92 * 1.1324 | + | 0.528 * 0.6739 | + | 0.404 * 0.9654 | + | 0.892 * 0.8944 | + | 0.115 * 1.0065 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1505 | + | 4.679 * -0.247922 | - | 0.327 * 0.972 |
| = | -3.81 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
| This Year (Jun23) TTM: | Last Year (Jun22) TTM: |
Total Receivables was ₩8,302 Mil.
Revenue was ₩47,971 Mil.
Gross Profit was ₩2,403 Mil.
Total Current Assets was ₩19,674 Mil.
Total Assets was ₩38,055 Mil.
Property, Plant and Equipment(Net PPE) was ₩13,428 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩3,071 Mil.
Selling, General, & Admin. Expense(SGA) was ₩2,432 Mil.
Total Current Liabilities was ₩27,933 Mil.
Long-Term Debt & Capital Lease Obligation was ₩4,978 Mil.
Net Income was ₩-7,897 Mil.
Gross Profit was ₩0 Mil.
Cash Flow from Operations was ₩1,538 Mil.
|
Total Receivables was ₩8,197 Mil.
Revenue was ₩53,634 Mil.
Gross Profit was ₩1,811 Mil.
Total Current Assets was ₩23,148 Mil.
Total Assets was ₩42,790 Mil.
Property, Plant and Equipment(Net PPE) was ₩13,873 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩3,198 Mil.
Selling, General, & Admin. Expense(SGA) was ₩2,363 Mil.
Total Current Liabilities was ₩30,990 Mil.
Long-Term Debt & Capital Lease Obligation was ₩7,081 Mil.
|
1. DSRI = Days Sales in Receivables Index
Measured as the ratio of Revenue in Total Receivables in year t to year t-1.
A large increase in DSR could be indicative of revenue inflation.
| DSRI | = | (Receivables_t / Revenue_t) | / | (Receivables_t-1 / Revenue_t-1) |
| = | (8301.614 / 47971.262) | / | (8196.719 / 53633.878) |
| = | 0.173054 | / | 0.152827 |
| | = | 1.1324 |
2. GMI = Gross Margin Index
Measured as the ratio of gross margin in year t-1 to gross margin in year t.
Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.
| GMI | = | GrossMargin_t-1 | / | GrossMargin_t |
| = | (GrossProfit_t-1 / Revenue_t-1) | / | (GrossProfit_t / Revenue_t) |
| = | (1810.971 / 53633.878) | / | (2403.434 / 47971.262) |
| = | 0.033765 | / | 0.050102 |
| | = | 0.6739 |
3. AQI = Asset Quality Index
AQI is the ratio of asset quality in year t to year t-1.
Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.
| AQI | = | (1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) | / | (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1) |
| = | (1 - (19674.139 + 13427.804) / 38055.185) | / | (1 - (23148.231 + 13873.045) / 42790.166) |
| = | 0.130159 | / | 0.134818 |
| | = | 0.9654 |
4. SGI = Sales Growth Index
Ratio of Revenue in year t to sales in year t-1.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
| SGI | = | Sales_t | / | Sales_t-1 |
| = | Revenue_t | / | Revenue_t-1 |
| = | 47971.262 | / | 53633.878 |
| | = | 0.8944 |
5. DEPI = Depreciation Index
Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
| DEPI | = | (Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) | / | (Depreciation_t / (Depreciaton_t + PPE_t)) |
| = | (3197.944 / (3197.944 + 13873.045)) | / | (3070.752 / (3070.752 + 13427.804)) |
| = | 0.187332 | / | 0.186122 |
| | = | 1.0065 |
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.
SGA expenses index > 1 means that the company is becoming less efficient in generate sales.
| SGAI | = | (SGA_t / Sales_t) | / | (SGA_t-1 /Sales_t-1) |
| = | (2431.564 / 47971.262) | / | (2362.876 / 53633.878) |
| = | 0.050688 | / | 0.044056 |
| | = | 1.1505 |
7. LVGI = Leverage Index
The ratio of total debt to Total Assets in year t relative to yeat t-1.
An LVGI > 1 indicates an increase in leverage
| LVGI | = | ((LTD_t + CurrentLiabilities_t) / TotalAssets_t) | / | ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1) |
| = | ((4978.141 + 27933.063) / 38055.185) | / | ((7081.36 + 30989.986) / 42790.166) |
| = | 0.864828 | / | 0.889722 |
| | = | 0.972 |
8. TATA = Total Accruals to Total Assets
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
| TATA | = | (IncomefromContinuingOperations_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
| = | (NetIncome_t - NonOperatingIncome_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
| = | (-7897.081 - 0 | - | 1537.631) | / | 38055.185 |
| | = | -0.247922 |
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Atum Co has a M-score of -3.81 suggests that the company is unlikely to be a manipulator.
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