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 |
| Beneish M-Score |
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JEIO Co Quarterly Data
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Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-1.47 |
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 * 0.5736 | + | 0.528 * 0.7464 | + | 0.404 * 3.7803 | + | 0.892 * 1.6368 | + | 0.115 * 0.7511 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1086 | + | 4.679 * -0.007087 | - | 0.327 * 1.2399 |
| = | -1.47 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was ₩24,797 Mil.
Revenue was 27339.317 + 31545.047 + 30348.565 + 29989.438 = ₩119,222 Mil.
Gross Profit was 3419.427 + 4140.84 + 6318.824 + 5157.164 = ₩19,036 Mil.
Total Current Assets was ₩45,877 Mil.
Total Assets was ₩201,711 Mil.
Property, Plant and Equipment(Net PPE) was ₩141,145 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩4,908 Mil.
Selling, General, & Admin. Expense(SGA) was ₩2,139 Mil.
Total Current Liabilities was ₩28,011 Mil.
Long-Term Debt & Capital Lease Obligation was ₩35,796 Mil.
Net Income was 1577.996 + 8636.575 + 2781.107 + 2951.662 = ₩15,947 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was -8593.415 + 549.31 + 12978.193 + 12442.841 = ₩17,377 Mil.
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Total Receivables was ₩26,412 Mil.
Revenue was 22610.913 + 19541.575 + 15387.505 + 15299.53 = ₩72,840 Mil.
Gross Profit was 3942.983 + 3631.252 + 805.407 + 301.055 = ₩8,681 Mil.
Total Current Assets was ₩42,266 Mil.
Total Assets was ₩152,717 Mil.
Property, Plant and Equipment(Net PPE) was ₩107,509 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩2,784 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,179 Mil.
Total Current Liabilities was ₩24,968 Mil.
Long-Term Debt & Capital Lease Obligation was ₩13,996 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) |
| = | (24797.071 / 119222.367) | / | (26412.345 / 72839.523) |
| = | 0.20799 | / | 0.36261 |
| | = | 0.5736 |
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) |
| = | (8680.697 / 72839.523) | / | (19036.255 / 119222.367) |
| = | 0.119176 | / | 0.15967 |
| | = | 0.7464 |
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 - (45876.873 + 141144.705) / 201711.066) | / | (1 - (42266.4 + 107508.647) / 152716.928) |
| = | 0.072824 | / | 0.019264 |
| | = | 3.7803 |
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 |
| = | 119222.367 | / | 72839.523 |
| | = | 1.6368 |
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)) |
| = | (2784.162 / (2784.162 + 107508.647)) | / | (4908.194 / (4908.194 + 141144.705)) |
| = | 0.025243 | / | 0.033606 |
| | = | 0.7511 |
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) |
| = | (2139.192 / 119222.367) | / | (1178.919 / 72839.523) |
| = | 0.017943 | / | 0.016185 |
| | = | 1.1086 |
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) |
| = | ((35796.493 + 28011.422) / 201711.066) | / | ((13995.841 + 24967.715) / 152716.928) |
| = | 0.316333 | / | 0.255136 |
| | = | 1.2399 |
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 |
| = | (15947.34 - 0 | - | 17376.929) | / | 201711.066 |
| | = | -0.007087 |
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 -1.47 signals that the company is likely to be a manipulator.
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