Sungeel Hitech Co Beneish M-Score Historical Data
The historical data trend for Sungeel Hitech 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.
Sungeel Hitech Co Beneish M-Score Chart
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Sungeel Hitech Co Annual Data
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Trend |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
- |
- |
-0.40 |
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Sungeel Hitech Co Quarterly Data
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Mar21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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- |
- |
-2.35 |
-0.40 |
-11.23 |
Competitive Comparison of Sungeel Hitech Co's Beneish M-Score
For the Electrical Equipment & Parts subindustry, Sungeel Hitech 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.
Sungeel Hitech Co's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Sungeel Hitech Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sungeel Hitech Co's Beneish M-Score falls into.
Sungeel Hitech 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 Sungeel Hitech 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 * 0.9903 | + | 0.528 * -15.1417 | + | 0.404 * 1.5282 | + | 0.892 * 0.6652 | + | 0.115 * 1.4237 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.8146 | + | 4.679 * 0.028022 | - | 0.327 * 1.5262 |
| = | -11.23 |
* 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 ₩24,007 Mil.
Revenue was 33666.07 + 43241.259 + 59067.871 + 63516.939 = ₩199,492 Mil.
Gross Profit was -5531.839 + -12925.77 + 242.946 + 14932.627 = ₩-3,282 Mil.
Total Current Assets was ₩165,893 Mil.
Total Assets was ₩634,016 Mil.
Property, Plant and Equipment(Net PPE) was ₩392,380 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩14,290 Mil.
Selling, General, & Admin. Expense(SGA) was ₩15,927 Mil.
Total Current Liabilities was ₩149,873 Mil.
Long-Term Debt & Capital Lease Obligation was ₩150,174 Mil.
Net Income was -10806.745 + 14361.025 + -9427.864 + 12635.272 = ₩6,762 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was -7866.497 + -5994.851 + 1293.215 + 1563.605 = ₩-11,005 Mil.
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Total Receivables was ₩36,441 Mil.
Revenue was 81541.718 + 71685.462 + 72615.557 + 74044.919 = ₩299,888 Mil.
Gross Profit was 20141.95 + 9817.852 + 21614.138 + 23131.266 = ₩74,705 Mil.
Total Current Assets was ₩234,951 Mil.
Total Assets was ₩473,435 Mil.
Property, Plant and Equipment(Net PPE) was ₩201,474 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩10,610 Mil.
Selling, General, & Admin. Expense(SGA) was ₩13,194 Mil.
Total Current Liabilities was ₩115,089 Mil.
Long-Term Debt & Capital Lease Obligation was ₩31,715 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) |
| = | (24006.966 / 199492.139) | / | (36441.469 / 299887.656) |
| = | 0.12034 | / | 0.121517 |
| | = | 0.9903 |
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) |
| = | (74705.206 / 299887.656) | / | (-3282.036 / 199492.139) |
| = | 0.249111 | / | -0.016452 |
| | = | -15.1417 |
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 - (165893.328 + 392379.665) / 634016.416) | / | (1 - (234950.908 + 201474.304) / 473435.42) |
| = | 0.119466 | / | 0.078174 |
| | = | 1.5282 |
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 |
| = | 199492.139 | / | 299887.656 |
| | = | 0.6652 |
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)) |
| = | (10610.173 / (10610.173 + 201474.304)) | / | (14290.177 / (14290.177 + 392379.665)) |
| = | 0.050028 | / | 0.03514 |
| | = | 1.4237 |
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) |
| = | (15927.062 / 199492.139) | / | (13194.311 / 299887.656) |
| = | 0.079838 | / | 0.043998 |
| | = | 1.8146 |
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) |
| = | ((150174.169 + 149873.17) / 634016.416) | / | ((31715.376 + 115088.682) / 473435.42) |
| = | 0.473249 | / | 0.310083 |
| | = | 1.5262 |
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 |
| = | (6761.688 - 0 | - | -11004.528) | / | 634016.416 |
| | = | 0.028022 |
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.
Sungeel Hitech Co has a M-score of -11.23 suggests that the company is unlikely to be a manipulator.
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