Nextchip Co Beneish M-Score Historical Data
The historical data trend for Nextchip 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.
Nextchip Co Beneish M-Score Chart
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Nextchip Co Annual Data
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Trend |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
-2.90 |
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Nextchip Co Quarterly Data
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Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
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-1.83 |
-2.90 |
-2.93 |
-4.18 |
-4.54 |
Competitive Comparison of Nextchip Co's Beneish M-Score
For the Semiconductors subindustry, Nextchip 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.
Nextchip Co's Beneish M-Score Distribution in the Semiconductors Industry
For the Semiconductors industry and Technology sector, Nextchip Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Nextchip Co's Beneish M-Score falls into.
Nextchip 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 Nextchip 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 * 0.4629 | + | 0.528 * 0.3541 | + | 0.404 * 2.8356 | + | 0.892 * 1.7029 | + | 0.115 * 1.0779 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.7413 | + | 4.679 * -0.25641 | - | 0.327 * 5.4174 |
| = | -4.54 |
* 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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was ₩1,937 Mil.
Revenue was 9122.434 + 6605.456 + 6037.743 + 4913.212 = ₩26,679 Mil.
Gross Profit was 3469.154 + 2385.822 + 2003.015 + 43.004 = ₩7,901 Mil.
Total Current Assets was ₩41,487 Mil.
Total Assets was ₩58,480 Mil.
Property, Plant and Equipment(Net PPE) was ₩8,486 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩4,465 Mil.
Selling, General, & Admin. Expense(SGA) was ₩3,224 Mil.
Total Current Liabilities was ₩8,045 Mil.
Long-Term Debt & Capital Lease Obligation was ₩23,043 Mil.
Net Income was -4496.427 + -5154.45 + -4673.382 + -11553.962 = ₩-25,878 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was -3163.106 + -3925.833 + -2767.102 + -1027.404 = ₩-10,883 Mil.
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Total Receivables was ₩2,457 Mil.
Revenue was 4514.564 + 3471.283 + 3255.073 + 4426.021 = ₩15,667 Mil.
Gross Profit was 1356.788 + -832.378 + 1070.913 + 47.617 = ₩1,643 Mil.
Total Current Assets was ₩25,716 Mil.
Total Assets was ₩29,670 Mil.
Property, Plant and Equipment(Net PPE) was ₩2,432 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,438 Mil.
Selling, General, & Admin. Expense(SGA) was ₩2,554 Mil.
Total Current Liabilities was ₩2,554 Mil.
Long-Term Debt & Capital Lease Obligation was ₩357 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) |
| = | (1936.584 / 26678.845) | / | (2456.646 / 15666.941) |
| = | 0.072589 | / | 0.156804 |
| | = | 0.4629 |
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) |
| = | (1642.94 / 15666.941) | / | (7900.995 / 26678.845) |
| = | 0.104867 | / | 0.296152 |
| | = | 0.3541 |
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 - (41487.263 + 8485.926) / 58479.791) | / | (1 - (25716.072 + 2431.918) / 29670.008) |
| = | 0.145462 | / | 0.051298 |
| | = | 2.8356 |
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 |
| = | 26678.845 | / | 15666.941 |
| | = | 1.7029 |
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)) |
| = | (1438.348 / (1438.348 + 2431.918)) | / | (4465.11 / (4465.11 + 8485.926)) |
| = | 0.371641 | / | 0.344769 |
| | = | 1.0779 |
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) |
| = | (3223.513 / 26678.845) | / | (2553.544 / 15666.941) |
| = | 0.120827 | / | 0.162989 |
| | = | 0.7413 |
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) |
| = | ((23042.998 + 8045.116) / 58479.791) | / | ((357.084 + 2554.419) / 29670.008) |
| = | 0.531604 | / | 0.098129 |
| | = | 5.4174 |
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 |
| = | (-25878.221 - 0 | - | -10883.445) | / | 58479.791 |
| | = | -0.25641 |
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.
Nextchip Co has a M-score of -4.54 suggests that the company is unlikely to be a manipulator.
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