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
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Atum Co Annual Data
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Trend |
Jun19 |
Jun20 |
Jun21 |
Jun22 |
Jun23 |
Jun24 |
| Beneish M-Score |
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- |
- |
- |
- |
-2.57 |
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Atum Co Quarterly Data
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Jun19 |
Jun20 |
Jun21 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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- |
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-2.57 |
-2.67 |
-1.65 |
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 * 2.0439 | + | 0.528 * 0.323 | + | 0.404 * 0.851 | + | 0.892 * 0.6435 | + | 0.115 * 0.9902 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.1357 | + | 4.679 * 0.104282 | - | 0.327 * 1.0922 |
| = | -1.65 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was ₩7,762 Mil.
Revenue was 0 + 10313.054 + 9455.413 + 8709.97 = ₩28,478 Mil.
Gross Profit was 0 + 828.659 + 2678.169 + 663.754 = ₩4,171 Mil.
Total Current Assets was ₩24,335 Mil.
Total Assets was ₩39,000 Mil.
Property, Plant and Equipment(Net PPE) was ₩11,261 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩2,287 Mil.
Selling, General, & Admin. Expense(SGA) was ₩114 Mil.
Total Current Liabilities was ₩19,494 Mil.
Long-Term Debt & Capital Lease Obligation was ₩5,952 Mil.
Net Income was 0 + -1708.635 + 884.523 + -1490.901 = ₩-2,315 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 0 + -1389.143 + -2189.907 + -2802.926 = ₩-6,382 Mil.
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Total Receivables was ₩5,902 Mil.
Revenue was 8598.129 + 11739.612 + 14237.827 + 9681.219 = ₩44,257 Mil.
Gross Profit was 536.78 + 1443.958 + -1100.285 + 1213.258 = ₩2,094 Mil.
Total Current Assets was ₩24,924 Mil.
Total Assets was ₩44,934 Mil.
Property, Plant and Equipment(Net PPE) was ₩15,403 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩3,091 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,308 Mil.
Total Current Liabilities was ₩22,301 Mil.
Long-Term Debt & Capital Lease Obligation was ₩4,542 Mil.
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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) |
| = | (7762.164 / 28478.437) | / | (5901.918 / 44256.787) |
| = | 0.272563 | / | 0.133356 |
| | = | 2.0439 |
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) |
| = | (2093.711 / 44256.787) | / | (4170.582 / 28478.437) |
| = | 0.047308 | / | 0.146447 |
| | = | 0.323 |
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 - (24335.071 + 11261.367) / 38999.558) | / | (1 - (24923.669 + 15402.989) / 44934.147) |
| = | 0.08726 | / | 0.102539 |
| | = | 0.851 |
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 |
| = | 28478.437 | / | 44256.787 |
| | = | 0.6435 |
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)) |
| = | (3091.273 / (3091.273 + 15402.989)) | / | (2286.965 / (2286.965 + 11261.367)) |
| = | 0.167148 | / | 0.1688 |
| | = | 0.9902 |
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) |
| = | (114.18 / 28478.437) | / | (1307.516 / 44256.787) |
| = | 0.004009 | / | 0.029544 |
| | = | 0.1357 |
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) |
| = | ((5951.688 + 19493.643) / 38999.558) | / | ((4541.933 + 22301.382) / 44934.147) |
| = | 0.652452 | / | 0.597392 |
| | = | 1.0922 |
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 |
| = | (-2315.013 - 0 | - | -6381.976) | / | 38999.558 |
| | = | 0.104282 |
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 -1.65 signals that the company is likely to be a manipulator.
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