Chungdam Global Co Beneish M-Score Historical Data
The historical data trend for Chungdam Global 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.
Chungdam Global Co Beneish M-Score Chart
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Chungdam Global Co Annual Data
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Trend |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
| Beneish M-Score |
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- |
- |
- |
- |
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Chungdam Global Co Quarterly Data
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Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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- |
-1.29 |
-1.43 |
-2.03 |
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Competitive Comparison of Chungdam Global Co's Beneish M-Score
For the Household & Personal Products subindustry, Chungdam Global 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.
Chungdam Global Co's Beneish M-Score Distribution in the Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Chungdam Global Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Chungdam Global Co's Beneish M-Score falls into.
Chungdam Global 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 Chungdam Global 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 * 0 | + | 0.528 * 0.8459 | + | 0.404 * 2.7069 | + | 0.892 * 1.1416 | + | 0.115 * 0.0624 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.9441 | + | 4.679 * -0.032361 | - | 0.327 * 1.1243 |
| = | -3.13 |
* 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 ₩0 Mil.
Revenue was 54796.492 + 58372.298 + 59721.772 + 68691.192 = ₩241,582 Mil.
Gross Profit was 9034.934 + 4811.596 + 4982.174 + 6651.305 = ₩25,480 Mil.
Total Current Assets was ₩109,780 Mil.
Total Assets was ₩130,589 Mil.
Property, Plant and Equipment(Net PPE) was ₩0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩878 Mil.
Selling, General, & Admin. Expense(SGA) was ₩12,657 Mil.
Total Current Liabilities was ₩59,096 Mil.
Long-Term Debt & Capital Lease Obligation was ₩0 Mil.
Net Income was 2703.868 + -6848.24 + 1061.921 + 1409.335 = ₩-1,673 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 0 + 18418.856 + -16452.226 + 586.265 = ₩2,553 Mil.
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Total Receivables was ₩72,511 Mil.
Revenue was 50993.326 + 56602.911 + 39678.205 + 64348.496 = ₩211,623 Mil.
Gross Profit was 5068.1 + 3561.19 + 4399.401 + 5852.917 = ₩18,882 Mil.
Total Current Assets was ₩99,160 Mil.
Total Assets was ₩116,941 Mil.
Property, Plant and Equipment(Net PPE) was ₩10,897 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩725 Mil.
Selling, General, & Admin. Expense(SGA) was ₩5,703 Mil.
Total Current Liabilities was ₩41,596 Mil.
Long-Term Debt & Capital Lease Obligation was ₩5,473 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) |
| = | (0 / 241581.754) | / | (72511.283 / 211622.938) |
| = | 0 | / | 0.342644 |
| | = | 0 |
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) |
| = | (18881.608 / 211622.938) | / | (25480.009 / 241581.754) |
| = | 0.089223 | / | 0.105472 |
| | = | 0.8459 |
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 - (109779.943 + 0) / 130589.113) | / | (1 - (99159.985 + 10897.353) / 116941.394) |
| = | 0.159348 | / | 0.058868 |
| | = | 2.7069 |
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 |
| = | 241581.754 | / | 211622.938 |
| | = | 1.1416 |
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)) |
| = | (724.97 / (724.97 + 10897.353)) | / | (877.597 / (877.597 + 0)) |
| = | 0.062377 | / | 1 |
| | = | 0.0624 |
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) |
| = | (12656.702 / 241581.754) | / | (5703.101 / 211622.938) |
| = | 0.052391 | / | 0.026949 |
| | = | 1.9441 |
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) |
| = | ((0 + 59095.711) / 130589.113) | / | ((5472.908 + 41596.04) / 116941.394) |
| = | 0.452532 | / | 0.4025 |
| | = | 1.1243 |
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 |
| = | (-1673.116 - 0 | - | 2552.895) | / | 130589.113 |
| | = | -0.032361 |
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.
Chungdam Global Co has a M-score of -3.13 suggests that the company is unlikely to be a manipulator.
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