ENCell Co Beneish M-Score Historical Data
The historical data trend for ENCell 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.
ENCell Co Beneish M-Score Chart
|
ENCell Co Annual Data
|
|
Trend |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
- |
- |
-4.26 |
-3.02 |
|
ENCell Co Semi-Annual Data
|
|
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
- |
- |
-4.26 |
-3.02 |
Competitive Comparison of ENCell Co's Beneish M-Score
For the Biotechnology subindustry, ENCell 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.
ENCell Co's Beneish M-Score Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, ENCell Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where ENCell Co's Beneish M-Score falls into.
ENCell 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 ENCell 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 * 1.3255 | + | 0.528 * -2.6673 | + | 0.404 * 1.6804 | + | 0.892 * 1.4287 | + | 0.115 * 0.6704 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.7873 | + | 4.679 * 0.031531 | - | 0.327 * 0.0927 |
| = | -3.02 |
* 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 ₩2,318 Mil.
Revenue was ₩10,526 Mil.
Gross Profit was ₩-358 Mil.
Total Current Assets was ₩22,928 Mil.
Total Assets was ₩43,981 Mil.
Property, Plant and Equipment(Net PPE) was ₩20,029 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩4,239 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,207 Mil.
Total Current Liabilities was ₩2,742 Mil.
Long-Term Debt & Capital Lease Obligation was ₩3,097 Mil.
Net Income was ₩-5,054 Mil.
Gross Profit was ₩0 Mil.
Cash Flow from Operations was ₩-6,440 Mil.
|
Total Receivables was ₩1,224 Mil.
Revenue was ₩7,367 Mil.
Gross Profit was ₩668 Mil.
Total Current Assets was ₩31,644 Mil.
Total Assets was ₩54,746 Mil.
Property, Plant and Equipment(Net PPE) was ₩22,343 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩2,964 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,073 Mil.
Total Current Liabilities was ₩74,430 Mil.
Long-Term Debt & Capital Lease Obligation was ₩3,978 Mil.
|
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) |
| = | (2317.868 / 10525.887) | / | (1223.915 / 7367.362) |
| = | 0.220206 | / | 0.166127 |
| | = | 1.3255 |
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) |
| = | (667.535 / 7367.362) | / | (-357.563 / 10525.887) |
| = | 0.090607 | / | -0.03397 |
| | = | -2.6673 |
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 - (22928.326 + 20028.85) / 43981.151) | / | (1 - (31644.291 + 22343.474) / 54746.297) |
| = | 0.023282 | / | 0.013855 |
| | = | 1.6804 |
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 |
| = | 10525.887 | / | 7367.362 |
| | = | 1.4287 |
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)) |
| = | (2963.816 / (2963.816 + 22343.474)) | / | (4239.098 / (4239.098 + 20028.85)) |
| = | 0.117113 | / | 0.174679 |
| | = | 0.6704 |
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) |
| = | (1207.376 / 10525.887) | / | (1073.335 / 7367.362) |
| = | 0.114705 | / | 0.145688 |
| | = | 0.7873 |
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) |
| = | ((3097.371 + 2742.451) / 43981.151) | / | ((3977.802 + 74430.247) / 54746.297) |
| = | 0.13278 | / | 1.432207 |
| | = | 0.0927 |
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 |
| = | (-5053.52 - 0 | - | -6440.273) | / | 43981.151 |
| | = | 0.031531 |
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.
ENCell Co has a M-score of -3.02 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
XKRX:456070 has been successfully added to your