JEIO Co Beneish M-Score Historical Data
The historical data trend for JEIO 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.
JEIO Co Beneish M-Score Chart
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JEIO Co Annual Data
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Trend |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
- |
-2.38 |
-0.62 |
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JEIO 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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-2.38 |
-1.47 |
-0.47 |
0.02 |
-0.62 |
Competitive Comparison of JEIO Co's Beneish M-Score
For the Electronic Components subindustry, JEIO 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.
JEIO Co's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, JEIO Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where JEIO Co's Beneish M-Score falls into.
JEIO 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 JEIO 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 * 0.804 | + | 0.528 * 6.1736 | + | 0.404 * 0.5977 | + | 0.892 * 0.7238 | + | 0.115 * 0.6274 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 2.6349 | + | 4.679 * -0.017821 | - | 0.327 * 0.6294 |
| = | -0.62 |
* 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 ₩9,418 Mil.
Revenue was 14786.108 + 20317.984 + 20430.256 + 27339.317 = ₩82,874 Mil.
Gross Profit was -4718.206 + 1124.496 + 2467.552 + 3419.427 = ₩2,293 Mil.
Total Current Assets was ₩60,966 Mil.
Total Assets was ₩222,582 Mil.
Property, Plant and Equipment(Net PPE) was ₩152,749 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩8,569 Mil.
Selling, General, & Admin. Expense(SGA) was ₩3,029 Mil.
Total Current Liabilities was ₩14,330 Mil.
Long-Term Debt & Capital Lease Obligation was ₩28,938 Mil.
Net Income was -9761.73 + -951.916 + 261.624 + 1577.996 = ₩-8,874 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was -2393.404 + -50.036 + 6129.388 + -8593.415 = ₩-4,907 Mil.
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Total Receivables was ₩16,185 Mil.
Revenue was 31545.047 + 30348.565 + 29989.438 + 22610.913 = ₩114,494 Mil.
Gross Profit was 4140.84 + 6318.824 + 5157.164 + 3942.983 = ₩19,560 Mil.
Total Current Assets was ₩50,570 Mil.
Total Assets was ₩196,536 Mil.
Property, Plant and Equipment(Net PPE) was ₩132,866 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩4,581 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,588 Mil.
Total Current Liabilities was ₩33,319 Mil.
Long-Term Debt & Capital Lease Obligation was ₩27,380 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) |
| = | (9418.465 / 82873.665) | / | (16184.836 / 114493.963) |
| = | 0.113648 | / | 0.14136 |
| | = | 0.804 |
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) |
| = | (19559.811 / 114493.963) | / | (2293.269 / 82873.665) |
| = | 0.170837 | / | 0.027672 |
| | = | 6.1736 |
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 - (60966.123 + 152749.321) / 222582.34) | / | (1 - (50569.664 + 132866.143) / 196535.692) |
| = | 0.039836 | / | 0.066654 |
| | = | 0.5977 |
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 |
| = | 82873.665 | / | 114493.963 |
| | = | 0.7238 |
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)) |
| = | (4580.875 / (4580.875 + 132866.143)) | / | (8568.787 / (8568.787 + 152749.321)) |
| = | 0.033328 | / | 0.053117 |
| | = | 0.6274 |
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) |
| = | (3029.188 / 82873.665) | / | (1588.223 / 114493.963) |
| = | 0.036552 | / | 0.013872 |
| | = | 2.6349 |
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) |
| = | ((28938.029 + 14330.257) / 222582.34) | / | ((27380.49 + 33319.3) / 196535.692) |
| = | 0.194392 | / | 0.308849 |
| | = | 0.6294 |
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 |
| = | (-8874.026 - 0 | - | -4907.467) | / | 222582.34 |
| | = | -0.017821 |
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.
JEIO Co has a M-score of -0.62 signals that the company is likely to be a manipulator.
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