JI-Tech Co Beneish M-Score Historical Data
The historical data trend for JI-Tech 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.
JI-Tech Co Beneish M-Score Chart
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JI-Tech Co Annual Data
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Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.61 |
- |
- |
-1.60 |
-2.93 |
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JI-Tech Co Quarterly Data
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Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-1.60 |
-1.75 |
-2.22 |
-3.25 |
-2.93 |
Competitive Comparison of JI-Tech Co's Beneish M-Score
For the Semiconductor Equipment & Materials subindustry, JI-Tech 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.
JI-Tech Co's Beneish M-Score Distribution in the Semiconductors Industry
For the Semiconductors industry and Technology sector, JI-Tech Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where JI-Tech Co's Beneish M-Score falls into.
JI-Tech 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 JI-Tech 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 * 0.6825 | + | 0.528 * 0.8527 | + | 0.404 * 0.7657 | + | 0.892 * 1.3212 | + | 0.115 * 0.6749 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9455 | + | 4.679 * -0.049987 | - | 0.327 * 1.034 |
| = | -2.93 |
* 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 ₩6,608 Mil.
Revenue was 12697.147 + 13233.027 + 18000.215 + 13362.309 = ₩57,293 Mil.
Gross Profit was 2742.855 + 3753.222 + 5595.841 + 4106.392 = ₩16,198 Mil.
Total Current Assets was ₩46,841 Mil.
Total Assets was ₩121,945 Mil.
Property, Plant and Equipment(Net PPE) was ₩64,475 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩4,438 Mil.
Selling, General, & Admin. Expense(SGA) was ₩2,666 Mil.
Total Current Liabilities was ₩28,233 Mil.
Long-Term Debt & Capital Lease Obligation was ₩20,582 Mil.
Net Income was 4657.22 + 1569.055 + 2312.814 + 2195.608 = ₩10,735 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 4661.825 + 6616.789 + 1330.861 + 4220.889 = ₩16,830 Mil.
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Total Receivables was ₩7,328 Mil.
Revenue was 11983.459 + 7922.961 + 7941.324 + 15514.941 = ₩43,363 Mil.
Gross Profit was 3718.824 + 1212.673 + 1886.968 + 3635.062 = ₩10,454 Mil.
Total Current Assets was ₩39,740 Mil.
Total Assets was ₩105,560 Mil.
Property, Plant and Equipment(Net PPE) was ₩53,803 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩2,445 Mil.
Selling, General, & Admin. Expense(SGA) was ₩2,134 Mil.
Total Current Liabilities was ₩26,027 Mil.
Long-Term Debt & Capital Lease Obligation was ₩14,839 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) |
| = | (6607.906 / 57292.698) | / | (7328.181 / 43362.685) |
| = | 0.115336 | / | 0.168997 |
| | = | 0.6825 |
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) |
| = | (10453.527 / 43362.685) | / | (16198.31 / 57292.698) |
| = | 0.241072 | / | 0.282729 |
| | = | 0.8527 |
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 - (46841.436 + 64474.738) / 121945.25) | / | (1 - (39739.806 + 53803.205) / 105560.03) |
| = | 0.087163 | / | 0.113841 |
| | = | 0.7657 |
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 |
| = | 57292.698 | / | 43362.685 |
| | = | 1.3212 |
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)) |
| = | (2444.846 / (2444.846 + 53803.205)) | / | (4438.447 / (4438.447 + 64474.738)) |
| = | 0.043465 | / | 0.064406 |
| | = | 0.6749 |
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) |
| = | (2665.607 / 57292.698) | / | (2133.845 / 43362.685) |
| = | 0.046526 | / | 0.049209 |
| | = | 0.9455 |
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) |
| = | ((20581.627 + 28233.19) / 121945.25) | / | ((14839.187 + 26026.73) / 105560.03) |
| = | 0.400301 | / | 0.387134 |
| | = | 1.034 |
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 |
| = | (10734.697 - 0 | - | 16830.364) | / | 121945.25 |
| | = | -0.049987 |
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.
JI-Tech Co has a M-score of -2.93 suggests that the company is unlikely to be a manipulator.
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