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 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
- |
-1.79 |
-1.99 |
-2.13 |
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Chungdam Global Co Quarterly Data
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Dec19 |
Dec20 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-1.99 |
-2.70 |
-2.68 |
-2.69 |
-2.13 |
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 * 1.828 | + | 0.528 * 0.4635 | + | 0.404 * 1.2629 | + | 0.892 * 0.9852 | + | 0.115 * 0.8144 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 3.1487 | + | 4.679 * 0.055044 | - | 0.327 * 1.2629 |
| = | -2.13 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was ₩91,935 Mil.
Revenue was 51165.039 + 62469.975 + 65834.523 + 54796.492 = ₩234,266 Mil.
Gross Profit was 13854.904 + 11746.684 + 11092.758 + 9034.934 = ₩45,729 Mil.
Total Current Assets was ₩165,168 Mil.
Total Assets was ₩188,386 Mil.
Property, Plant and Equipment(Net PPE) was ₩8,920 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,653 Mil.
Selling, General, & Admin. Expense(SGA) was ₩22,408 Mil.
Total Current Liabilities was ₩79,905 Mil.
Long-Term Debt & Capital Lease Obligation was ₩18,203 Mil.
Net Income was -3107.888 + 1233.62 + 935.367 + 2703.868 = ₩1,765 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 6413.986 + -17501.125 + 5215.252 + -2732.603 = ₩-8,604 Mil.
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Total Receivables was ₩51,047 Mil.
Revenue was 58372.298 + 59721.772 + 68691.192 + 50993.326 = ₩237,779 Mil.
Gross Profit was 4811.596 + 4982.174 + 6651.305 + 5068.1 = ₩21,513 Mil.
Total Current Assets was ₩98,994 Mil.
Total Assets was ₩114,191 Mil.
Property, Plant and Equipment(Net PPE) was ₩8,334 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,216 Mil.
Selling, General, & Admin. Expense(SGA) was ₩7,223 Mil.
Total Current Liabilities was ₩46,286 Mil.
Long-Term Debt & Capital Lease Obligation was ₩804 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) |
| = | (91934.622 / 234266.029) | / | (51047.489 / 237778.588) |
| = | 0.392437 | / | 0.214685 |
| | = | 1.828 |
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) |
| = | (21513.175 / 237778.588) | / | (45729.28 / 234266.029) |
| = | 0.090476 | / | 0.195202 |
| | = | 0.4635 |
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 - (165167.818 + 8919.804) / 188385.577) | / | (1 - (98994.396 + 8333.956) / 114190.961) |
| = | 0.075897 | / | 0.060098 |
| | = | 1.2629 |
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 |
| = | 234266.029 | / | 237778.588 |
| | = | 0.9852 |
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)) |
| = | (1215.815 / (1215.815 + 8333.956)) | / | (1652.923 / (1652.923 + 8919.804)) |
| = | 0.127314 | / | 0.156338 |
| | = | 0.8144 |
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) |
| = | (22407.743 / 234266.029) | / | (7223.282 / 237778.588) |
| = | 0.095651 | / | 0.030378 |
| | = | 3.1487 |
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) |
| = | ((18202.568 + 79905.467) / 188385.577) | / | ((803.811 + 46285.667) / 114190.961) |
| = | 0.520783 | / | 0.412375 |
| | = | 1.2629 |
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 |
| = | (1764.967 - 0 | - | -8604.49) | / | 188385.577 |
| | = | 0.055044 |
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 -2.13 suggests that the company is unlikely to be a manipulator.
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