Studio Mir Co Beneish M-Score Historical Data
The historical data trend for Studio Mir 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.
Studio Mir Co Beneish M-Score Chart
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Studio Mir Co Annual Data
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Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
- |
- |
-3.06 |
-3.14 |
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Studio Mir Co Quarterly Data
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Dec18 |
Dec19 |
Dec20 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-3.06 |
-3.15 |
-3.24 |
-2.77 |
-3.14 |
Competitive Comparison of Studio Mir Co's Beneish M-Score
For the Entertainment subindustry, Studio Mir 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.
Studio Mir Co's Beneish M-Score Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Studio Mir Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Studio Mir Co's Beneish M-Score falls into.
Studio Mir 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 Studio Mir 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 * 0.5853 | + | 0.528 * 1 | + | 0.404 * 1.0398 | + | 0.892 * 0.7586 | + | 0.115 * 0.751 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8817 | + | 4.679 * -0.013931 | - | 0.327 * 1.013 |
| = | -3.14 |
* 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 ₩1,717 Mil.
Revenue was 3933.166 + 4162.387 + 4621.331 + 4853.834 = ₩17,571 Mil.
Gross Profit was 3933.166 + 4162.387 + 4621.331 + 4853.834 = ₩17,571 Mil.
Total Current Assets was ₩31,377 Mil.
Total Assets was ₩43,688 Mil.
Property, Plant and Equipment(Net PPE) was ₩7,540 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,180 Mil.
Selling, General, & Admin. Expense(SGA) was ₩6,749 Mil.
Total Current Liabilities was ₩3,611 Mil.
Long-Term Debt & Capital Lease Obligation was ₩434 Mil.
Net Income was 715.503 + -1278.455 + 732.406 + -60.93 = ₩109 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 429.857 + 1097.483 + -687.769 + -122.431 = ₩717 Mil.
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Total Receivables was ₩3,867 Mil.
Revenue was 6225.924 + 5294.19 + 7159.362 + 4482.338 = ₩23,162 Mil.
Gross Profit was 6225.924 + 5294.19 + 7159.362 + 4482.338 = ₩23,162 Mil.
Total Current Assets was ₩28,511 Mil.
Total Assets was ₩40,676 Mil.
Property, Plant and Equipment(Net PPE) was ₩7,893 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩893 Mil.
Selling, General, & Admin. Expense(SGA) was ₩10,090 Mil.
Total Current Liabilities was ₩3,495 Mil.
Long-Term Debt & Capital Lease Obligation was ₩223 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) |
| = | (1716.753 / 17570.718) | / | (3866.759 / 23161.814) |
| = | 0.097705 | / | 0.166945 |
| | = | 0.5853 |
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) |
| = | (23161.814 / 23161.814) | / | (17570.718 / 17570.718) |
| = | 1 | / | 1 |
| | = | 1 |
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 - (31377.018 + 7539.502) / 43687.598) | / | (1 - (28510.764 + 7893.242) / 40676.139) |
| = | 0.109209 | / | 0.105028 |
| | = | 1.0398 |
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 |
| = | 17570.718 | / | 23161.814 |
| | = | 0.7586 |
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)) |
| = | (893.349 / (893.349 + 7893.242)) | / | (1180.481 / (1180.481 + 7539.502)) |
| = | 0.101672 | / | 0.135377 |
| | = | 0.751 |
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) |
| = | (6749.063 / 17570.718) | / | (10090.463 / 23161.814) |
| = | 0.384109 | / | 0.435651 |
| | = | 0.8817 |
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) |
| = | ((433.548 + 3611.357) / 43687.598) | / | ((222.947 + 3494.947) / 40676.139) |
| = | 0.092587 | / | 0.091402 |
| | = | 1.013 |
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 |
| = | (108.524 - 0 | - | 717.14) | / | 43687.598 |
| | = | -0.013931 |
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.
Studio Mir Co has a M-score of -3.14 suggests that the company is unlikely to be a manipulator.
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