NanoTIM Co Beneish M-Score Historical Data
The historical data trend for NanoTIM 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.
NanoTIM Co Beneish M-Score Chart
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NanoTIM Co Annual Data
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Trend |
Dec20 |
Dec21 |
Dec22 |
| Beneish M-Score |
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- |
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NanoTIM Co Quarterly Data
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Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
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-1.73 |
-2.85 |
-3.21 |
-3.41 |
-3.63 |
Competitive Comparison of NanoTIM Co's Beneish M-Score
For the Electronic Components subindustry, NanoTIM 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.
NanoTIM Co's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, NanoTIM Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where NanoTIM Co's Beneish M-Score falls into.
NanoTIM 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 NanoTIM 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 * 0.4839 | + | 0.528 * 0.9564 | + | 0.404 * 0.5657 | + | 0.892 * 0.7686 | + | 0.115 * 1.8121 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8235 | + | 4.679 * -0.029724 | - | 0.327 * 1.7939 |
| = | -3.63 |
* 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 ₩3,281 Mil.
Revenue was 6791.106 + 8871.187 + 10180.722 + 11026.802 = ₩36,870 Mil.
Gross Profit was 1552.423 + 2044.982 + 3003.775 + 3298.467 = ₩9,900 Mil.
Total Current Assets was ₩17,374 Mil.
Total Assets was ₩88,649 Mil.
Property, Plant and Equipment(Net PPE) was ₩68,312 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩2,595 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,474 Mil.
Total Current Liabilities was ₩5,796 Mil.
Long-Term Debt & Capital Lease Obligation was ₩34,039 Mil.
Net Income was -1828.95 + -522.895 + 362.029 + 1223.628 = ₩-766 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was -1035.156 + -850.403 + 383.098 + 3371.278 = ₩1,869 Mil.
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Total Receivables was ₩8,821 Mil.
Revenue was 10594.135 + 13090.672 + 12479.057 + 11809.24 = ₩47,973 Mil.
Gross Profit was 2875.837 + 3748.438 + 3526.078 + 2168.864 = ₩12,319 Mil.
Total Current Assets was ₩30,480 Mil.
Total Assets was ₩67,150 Mil.
Property, Plant and Equipment(Net PPE) was ₩32,702 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩2,323 Mil.
Selling, General, & Admin. Expense(SGA) was ₩2,329 Mil.
Total Current Liabilities was ₩5,880 Mil.
Long-Term Debt & Capital Lease Obligation was ₩10,940 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) |
| = | (3280.663 / 36869.817) | / | (8821.243 / 47973.104) |
| = | 0.08898 | / | 0.183879 |
| | = | 0.4839 |
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) |
| = | (12319.217 / 47973.104) | / | (9899.647 / 36869.817) |
| = | 0.256794 | / | 0.268503 |
| | = | 0.9564 |
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 - (17373.738 + 68311.888) / 88648.932) | / | (1 - (30480.047 + 32702.204) / 67149.824) |
| = | 0.033427 | / | 0.059085 |
| | = | 0.5657 |
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 |
| = | 36869.817 | / | 47973.104 |
| | = | 0.7686 |
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)) |
| = | (2323.089 / (2323.089 + 32702.204)) | / | (2595.281 / (2595.281 + 68311.888)) |
| = | 0.066326 | / | 0.036601 |
| | = | 1.8121 |
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) |
| = | (1474.039 / 36869.817) | / | (2328.926 / 47973.104) |
| = | 0.03998 | / | 0.048546 |
| | = | 0.8235 |
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) |
| = | ((34039.184 + 5795.502) / 88648.932) | / | ((10940.284 + 5879.664) / 67149.824) |
| = | 0.449353 | / | 0.250484 |
| | = | 1.7939 |
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 |
| = | (-766.188 - 0 | - | 1868.817) | / | 88648.932 |
| | = | -0.029724 |
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.
NanoTIM Co has a M-score of -3.63 suggests that the company is unlikely to be a manipulator.
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