Egtronics Co Beneish M-Score Historical Data
The historical data trend for Egtronics 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.
Egtronics Co Beneish M-Score Chart
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Egtronics Co Annual Data
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Trend |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
- |
2.33 |
-0.57 |
-4.31 |
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Egtronics Co Quarterly Data
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Dec19 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-0.57 |
-0.26 |
-2.36 |
-2.96 |
-4.31 |
Competitive Comparison of Egtronics Co's Beneish M-Score
For the Electronic Components subindustry, Egtronics 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.
Egtronics Co's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Egtronics Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Egtronics Co's Beneish M-Score falls into.
Egtronics 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 Egtronics 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 * 0.5989 | + | 0.528 * 0.6634 | + | 0.404 * 0.6219 | + | 0.892 * 1.0371 | + | 0.115 * 0.6934 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.3586 | + | 4.679 * -0.208169 | - | 0.327 * 1.2816 |
| = | -4.31 |
* 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 ₩14,506 Mil.
Revenue was 14445.046 + 5808.239 + 5456.061 + 10794.746 = ₩36,504 Mil.
Gross Profit was 1628.846 + 3107.603 + 925.562 + 1842.654 = ₩7,505 Mil.
Total Current Assets was ₩39,445 Mil.
Total Assets was ₩66,577 Mil.
Property, Plant and Equipment(Net PPE) was ₩20,496 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,547 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,831 Mil.
Total Current Liabilities was ₩11,894 Mil.
Long-Term Debt & Capital Lease Obligation was ₩1,669 Mil.
Net Income was -1275.445 + 247.89 + -1589.662 + -740.04 = ₩-3,357 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was -254.705 + -2892.567 + 12519.985 + 1129.268 = ₩10,502 Mil.
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Total Receivables was ₩23,353 Mil.
Revenue was 17493.426 + 5893.068 + 8845.465 + 2966.161 = ₩35,198 Mil.
Gross Profit was 523.198 + 1816.323 + 1396.708 + 1064.377 = ₩4,801 Mil.
Total Current Assets was ₩36,101 Mil.
Total Assets was ₩67,376 Mil.
Property, Plant and Equipment(Net PPE) was ₩20,477 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,048 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,300 Mil.
Total Current Liabilities was ₩8,058 Mil.
Long-Term Debt & Capital Lease Obligation was ₩2,652 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) |
| = | (14505.898 / 36504.092) | / | (23352.752 / 35198.12) |
| = | 0.397377 | / | 0.663466 |
| | = | 0.5989 |
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) |
| = | (4800.606 / 35198.12) | / | (7504.665 / 36504.092) |
| = | 0.136388 | / | 0.205584 |
| | = | 0.6634 |
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 - (39444.606 + 20496.326) / 66576.852) | / | (1 - (36100.557 + 20477.406) / 67376.267) |
| = | 0.099673 | / | 0.160269 |
| | = | 0.6219 |
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 |
| = | 36504.092 | / | 35198.12 |
| | = | 1.0371 |
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)) |
| = | (1047.64 / (1047.64 + 20477.406)) | / | (1547.188 / (1547.188 + 20496.326)) |
| = | 0.048671 | / | 0.070188 |
| | = | 0.6934 |
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) |
| = | (1831.429 / 36504.092) | / | (1299.816 / 35198.12) |
| = | 0.050171 | / | 0.036929 |
| | = | 1.3586 |
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) |
| = | ((1669.204 + 11894.024) / 66576.852) | / | ((2652.326 + 8057.701) / 67376.267) |
| = | 0.203723 | / | 0.158958 |
| | = | 1.2816 |
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 |
| = | (-3357.257 - 0 | - | 10501.981) | / | 66576.852 |
| | = | -0.208169 |
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.
Egtronics Co has a M-score of -4.31 suggests that the company is unlikely to be a manipulator.
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