G2Power Co Beneish M-Score Historical Data
The historical data trend for G2Power 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.
G2Power Co Beneish M-Score Chart
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G2Power Co Annual Data
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Trend |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
- |
-0.23 |
-2.44 |
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G2Power Co Quarterly Data
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Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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0.55 |
-1.13 |
-0.49 |
-2.44 |
-2.07 |
Competitive Comparison of G2Power Co's Beneish M-Score
For the Electrical Equipment & Parts subindustry, G2Power 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.
G2Power Co's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, G2Power Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where G2Power Co's Beneish M-Score falls into.
G2Power 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 G2Power 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 * 1.8007 | + | 0.528 * 1.2953 | + | 0.404 * 0.6267 | + | 0.892 * 1.3634 | + | 0.115 * 1.2636 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9352 | + | 4.679 * -0.121864 | - | 0.327 * 1.3886 |
| = | -2.07 |
* 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 ₩4,888 Mil.
Revenue was 9667.051 + 21433.039 + 8704.056 + 12834.569 = ₩52,639 Mil.
Gross Profit was 3231.938 + 4796.371 + 2055.557 + 2840.034 = ₩12,924 Mil.
Total Current Assets was ₩42,646 Mil.
Total Assets was ₩52,803 Mil.
Property, Plant and Equipment(Net PPE) was ₩8,201 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩789 Mil.
Selling, General, & Admin. Expense(SGA) was ₩8,770 Mil.
Total Current Liabilities was ₩18,513 Mil.
Long-Term Debt & Capital Lease Obligation was ₩824 Mil.
Net Income was 564.231 + 1027.051 + -1041.452 + 328.223 = ₩878 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was -2266.737 + 10040.573 + -3326.631 + 2865.665 = ₩7,313 Mil.
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Total Receivables was ₩1,991 Mil.
Revenue was 6441.482 + 19770.377 + 7405.587 + 4990.288 = ₩38,608 Mil.
Gross Profit was 2875.245 + 6108.347 + 1912.913 + 1381.342 = ₩12,278 Mil.
Total Current Assets was ₩35,614 Mil.
Total Assets was ₩42,771 Mil.
Property, Plant and Equipment(Net PPE) was ₩4,629 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩577 Mil.
Selling, General, & Admin. Expense(SGA) was ₩6,878 Mil.
Total Current Liabilities was ₩11,115 Mil.
Long-Term Debt & Capital Lease Obligation was ₩165 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) |
| = | (4888.138 / 52638.715) | / | (1991.023 / 38607.734) |
| = | 0.092862 | / | 0.051571 |
| | = | 1.8007 |
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) |
| = | (12277.847 / 38607.734) | / | (12923.9 / 52638.715) |
| = | 0.318015 | / | 0.245521 |
| | = | 1.2953 |
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 - (42646.444 + 8200.607) / 52803.217) | / | (1 - (35614.08 + 4628.657) / 42771.077) |
| = | 0.037046 | / | 0.059113 |
| | = | 0.6267 |
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 |
| = | 52638.715 | / | 38607.734 |
| | = | 1.3634 |
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)) |
| = | (577.383 / (577.383 + 4628.657)) | / | (789.001 / (789.001 + 8200.607)) |
| = | 0.110906 | / | 0.087768 |
| | = | 1.2636 |
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) |
| = | (8769.838 / 52638.715) | / | (6877.974 / 38607.734) |
| = | 0.166604 | / | 0.17815 |
| | = | 0.9352 |
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) |
| = | ((824.397 + 18512.776) / 52803.217) | / | ((165.093 + 11115.037) / 42771.077) |
| = | 0.366212 | / | 0.263733 |
| | = | 1.3886 |
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 |
| = | (878.053 - 0 | - | 7312.87) | / | 52803.217 |
| | = | -0.121864 |
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.
G2Power Co has a M-score of -2.07 suggests that the company is unlikely to be a manipulator.
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