LiComm Co Beneish M-Score Historical Data
The historical data trend for LiComm 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.
LiComm Co Beneish M-Score Chart
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LiComm Co Annual Data
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Trend |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
- |
-3.49 |
0.17 |
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LiComm Co Quarterly Data
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Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-3.49 |
-2.93 |
-2.57 |
-2.21 |
0.17 |
Competitive Comparison of LiComm Co's Beneish M-Score
For the Communication Equipment subindustry, LiComm 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.
LiComm Co's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, LiComm Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where LiComm Co's Beneish M-Score falls into.
LiComm 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 LiComm 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 * 1.2575 | + | 0.528 * 6.7943 | + | 0.404 * 1.5909 | + | 0.892 * 0.675 | + | 0.115 * 1.047 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.4025 | + | 4.679 * -0.084939 | - | 0.327 * 1.4173 |
| = | 0.17 |
* 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 ₩2,268 Mil.
Revenue was 4417.779 + 2731.953 + 3161.988 + 2824.966 = ₩13,137 Mil.
Gross Profit was -563.335 + 134.646 + 177.475 + 619.904 = ₩369 Mil.
Total Current Assets was ₩19,023 Mil.
Total Assets was ₩28,094 Mil.
Property, Plant and Equipment(Net PPE) was ₩6,142 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩432 Mil.
Selling, General, & Admin. Expense(SGA) was ₩3,230 Mil.
Total Current Liabilities was ₩4,274 Mil.
Long-Term Debt & Capital Lease Obligation was ₩16 Mil.
Net Income was -1391.119 + -865.439 + -1015.203 + -479.628 = ₩-3,751 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 1371.673 + -992.799 + -1789.369 + 45.348 = ₩-1,365 Mil.
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Total Receivables was ₩2,672 Mil.
Revenue was 3329.716 + 5164.271 + 5056.341 + 5912.75 = ₩19,463 Mil.
Gross Profit was 671.36 + 1025.243 + 911.312 + 1103.451 = ₩3,711 Mil.
Total Current Assets was ₩21,855 Mil.
Total Assets was ₩30,253 Mil.
Property, Plant and Equipment(Net PPE) was ₩6,416 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩474 Mil.
Selling, General, & Admin. Expense(SGA) was ₩3,412 Mil.
Total Current Liabilities was ₩3,252 Mil.
Long-Term Debt & Capital Lease Obligation was ₩8 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) |
| = | (2267.912 / 13136.686) | / | (2671.98 / 19463.078) |
| = | 0.17264 | / | 0.137285 |
| | = | 1.2575 |
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) |
| = | (3711.366 / 19463.078) | / | (368.69 / 13136.686) |
| = | 0.190688 | / | 0.028066 |
| | = | 6.7943 |
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 - (19023.154 + 6142.406) / 28093.516) | / | (1 - (21854.968 + 6415.909) / 30252.718) |
| = | 0.104222 | / | 0.06551 |
| | = | 1.5909 |
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 |
| = | 13136.686 | / | 19463.078 |
| | = | 0.675 |
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)) |
| = | (474.177 / (474.177 + 6415.909)) | / | (432.145 / (432.145 + 6142.406)) |
| = | 0.06882 | / | 0.06573 |
| | = | 1.047 |
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) |
| = | (3230.199 / 13136.686) | / | (3412.325 / 19463.078) |
| = | 0.245891 | / | 0.175323 |
| | = | 1.4025 |
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) |
| = | ((16.411 + 4274.343) / 28093.516) | / | ((7.797 + 3252.273) / 30252.718) |
| = | 0.152731 | / | 0.107761 |
| | = | 1.4173 |
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 |
| = | (-3751.389 - 0 | - | -1365.147) | / | 28093.516 |
| | = | -0.084939 |
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.
LiComm Co has a M-score of 0.17 signals that the company is likely to be a manipulator.
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