Jeil M&S Co Beneish M-Score Historical Data
The historical data trend for Jeil M&S 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.
Jeil M&S Co Beneish M-Score Chart
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Jeil M&S Co Annual Data
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|
Trend |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
- |
- |
-3.01 |
-1.21 |
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Jeil M&S Co Semi-Annual Data
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|
Jun23 |
Dec23 |
Jun24 |
| Beneish M-Score |
- |
-1.21 |
- |
Competitive Comparison of Jeil M&S Co's Beneish M-Score
For the Electrical Equipment & Parts subindustry, Jeil M&S 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.
Jeil M&S Co's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Jeil M&S Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Jeil M&S Co's Beneish M-Score falls into.
Jeil M&S 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 Jeil M&S 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 * 0.7421 | + | 0.528 * 1.657 | + | 0.404 * 0.6744 | + | 0.892 * 2.3144 | + | 0.115 * 0.6739 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.5335 | + | 4.679 * 0.021313 | - | 0.327 * 1.0711 |
| = | -1.21 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was ₩39,004 Mil.
Revenue was ₩143,173 Mil.
Gross Profit was ₩15,551 Mil.
Total Current Assets was ₩175,708 Mil.
Total Assets was ₩221,399 Mil.
Property, Plant and Equipment(Net PPE) was ₩39,264 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,695 Mil.
Selling, General, & Admin. Expense(SGA) was ₩3,976 Mil.
Total Current Liabilities was ₩155,522 Mil.
Long-Term Debt & Capital Lease Obligation was ₩12,175 Mil.
Net Income was ₩-4,363 Mil.
Gross Profit was ₩0 Mil.
Cash Flow from Operations was ₩-9,082 Mil.
|
Total Receivables was ₩22,709 Mil.
Revenue was ₩61,862 Mil.
Gross Profit was ₩11,134 Mil.
Total Current Assets was ₩69,710 Mil.
Total Assets was ₩108,755 Mil.
Property, Plant and Equipment(Net PPE) was ₩34,364 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩986 Mil.
Selling, General, & Admin. Expense(SGA) was ₩3,220 Mil.
Total Current Liabilities was ₩63,494 Mil.
Long-Term Debt & Capital Lease Obligation was ₩13,412 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) |
| = | (39003.521 / 143172.829) | / | (22709.427 / 61862.086) |
| = | 0.272423 | / | 0.367098 |
| | = | 0.7421 |
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) |
| = | (11133.775 / 61862.086) | / | (15551.121 / 143172.829) |
| = | 0.179977 | / | 0.108618 |
| | = | 1.657 |
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 - (175708.095 + 39263.574) / 221399.085) | / | (1 - (69709.62 + 34363.735) / 108754.799) |
| = | 0.029031 | / | 0.043046 |
| | = | 0.6744 |
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 |
| = | 143172.829 | / | 61862.086 |
| | = | 2.3144 |
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)) |
| = | (985.875 / (985.875 + 34363.735)) | / | (1695.044 / (1695.044 + 39263.574)) |
| = | 0.027889 | / | 0.041384 |
| | = | 0.6739 |
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) |
| = | (3975.826 / 143172.829) | / | (3220.043 / 61862.086) |
| = | 0.027769 | / | 0.052052 |
| | = | 0.5335 |
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) |
| = | ((12174.66 + 155521.512) / 221399.085) | / | ((13412.471 + 63493.78) / 108754.799) |
| = | 0.757438 | / | 0.707153 |
| | = | 1.0711 |
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 |
| = | (-4363.338 - 0 | - | -9082.052) | / | 221399.085 |
| | = | 0.021313 |
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.
Jeil M&S Co has a M-score of -1.21 signals that the company is likely to be a manipulator.
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