Genohco Beneish M-Score Historical Data
The historical data trend for Genohco'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.
Genohco Beneish M-Score Chart
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Genohco Annual Data
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Trend |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
0.24 |
-3.17 |
-1.43 |
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Genohco Quarterly Data
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Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-2.13 |
-1.83 |
-0.08 |
-1.43 |
-0.53 |
Competitive Comparison of Genohco's Beneish M-Score
For the Communication Equipment subindustry, Genohco'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.
Genohco's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Genohco's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Genohco's Beneish M-Score falls into.
Genohco 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 Genohco 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 * 1.4587 | + | 0.528 * 2.7205 | + | 0.404 * 1.2262 | + | 0.892 * 1.1162 | + | 0.115 * 0.8904 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8951 | + | 4.679 * 0.090547 | - | 0.327 * 1.0134 |
| = | -0.53 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was ₩13,828 Mil.
Revenue was 13074.739 + 19564.025 + 11044.858 + 11805.828 = ₩55,489 Mil.
Gross Profit was 114.077 + 1178.222 + 1002.341 + 922.604 = ₩3,217 Mil.
Total Current Assets was ₩31,549 Mil.
Total Assets was ₩58,371 Mil.
Property, Plant and Equipment(Net PPE) was ₩20,388 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,475 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,747 Mil.
Total Current Liabilities was ₩21,464 Mil.
Long-Term Debt & Capital Lease Obligation was ₩2,763 Mil.
Net Income was -807.162 + 574.889 + -7.602 + 76.506 = ₩-163 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was -4631.279 + 6288.113 + -5436.635 + -1668.857 = ₩-5,449 Mil.
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Total Receivables was ₩8,493 Mil.
Revenue was 12697.418 + 14152.434 + 8426.37 + 14434.762 = ₩49,711 Mil.
Gross Profit was 2267.908 + 1251.051 + 599.721 + 3722.368 = ₩7,841 Mil.
Total Current Assets was ₩32,719 Mil.
Total Assets was ₩59,087 Mil.
Property, Plant and Equipment(Net PPE) was ₩21,056 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,346 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,749 Mil.
Total Current Liabilities was ₩20,211 Mil.
Long-Term Debt & Capital Lease Obligation was ₩3,989 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) |
| = | (13828.374 / 55489.45) | / | (8492.661 / 49710.984) |
| = | 0.249207 | / | 0.170841 |
| | = | 1.4587 |
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) |
| = | (7841.048 / 49710.984) | / | (3217.244 / 55489.45) |
| = | 0.157733 | / | 0.057979 |
| | = | 2.7205 |
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 - (31548.832 + 20388.16) / 58370.85) | / | (1 - (32718.98 + 21056.338) / 59086.52) |
| = | 0.110224 | / | 0.089889 |
| | = | 1.2262 |
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 |
| = | 55489.45 | / | 49710.984 |
| | = | 1.1162 |
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)) |
| = | (1345.545 / (1345.545 + 21056.338)) | / | (1474.894 / (1474.894 + 20388.16)) |
| = | 0.060064 | / | 0.067461 |
| | = | 0.8904 |
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) |
| = | (1747.454 / 55489.45) | / | (1748.873 / 49710.984) |
| = | 0.031492 | / | 0.035181 |
| | = | 0.8951 |
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) |
| = | ((2763.15 + 21463.744) / 58370.85) | / | ((3988.599 + 20211.407) / 59086.52) |
| = | 0.415051 | / | 0.409569 |
| | = | 1.0134 |
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 |
| = | (-163.369 - 0 | - | -5448.658) | / | 58370.85 |
| | = | 0.090547 |
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.
Genohco has a M-score of -0.53 signals that the company is likely to be a manipulator.
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