P&S Mechanics Co Beneish M-Score Historical Data
The historical data trend for P&S Mechanics 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.
P&S Mechanics Co Beneish M-Score Chart
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P&S Mechanics Co Annual Data
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Trend |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
- |
- |
-0.87 |
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P&S Mechanics Co Quarterly Data
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Dec21 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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- |
- |
- |
- |
-0.87 |
Competitive Comparison of P&S Mechanics Co's Beneish M-Score
For the Computer Hardware subindustry, P&S Mechanics 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.
P&S Mechanics Co's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, P&S Mechanics Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where P&S Mechanics Co's Beneish M-Score falls into.
P&S Mechanics 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 P&S Mechanics 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 * 2.4634 | + | 0.528 * 0.9548 | + | 0.404 * 0.3846 | + | 0.892 * 1.1824 | + | 0.115 * 0.9151 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0072 | + | 4.679 * 0.027 | - | 0.327 * 0.2078 |
| = | -0.87 |
* 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 ₩2,334 Mil.
Revenue was 3029.019 + 1426.876 + 1683.603 + 965.798 = ₩7,105 Mil.
Gross Profit was 2030.024 + 868.232 + 1049.36 + 630.191 = ₩4,578 Mil.
Total Current Assets was ₩38,825 Mil.
Total Assets was ₩41,332 Mil.
Property, Plant and Equipment(Net PPE) was ₩1,923 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩137 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,943 Mil.
Total Current Liabilities was ₩1,065 Mil.
Long-Term Debt & Capital Lease Obligation was ₩311 Mil.
Net Income was 1639.308 + 174.655 + 484.301 + 24.179 = ₩2,322 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 614.102 + -275.949 + 636.358 + 231.993 = ₩1,207 Mil.
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Total Receivables was ₩801 Mil.
Revenue was 2788.72 + 680.406 + 909.247 + 1630.98 = ₩6,009 Mil.
Gross Profit was 1858.849 + 367.753 + 543.84 + 926.376 = ₩3,697 Mil.
Total Current Assets was ₩7,013 Mil.
Total Assets was ₩9,172 Mil.
Property, Plant and Equipment(Net PPE) was ₩1,823 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩118 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,631 Mil.
Total Current Liabilities was ₩1,291 Mil.
Long-Term Debt & Capital Lease Obligation was ₩178 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) |
| = | (2334.255 / 7105.296) | / | (801.421 / 6009.353) |
| = | 0.328523 | / | 0.133362 |
| | = | 2.4634 |
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) |
| = | (3696.818 / 6009.353) | / | (4577.807 / 7105.296) |
| = | 0.615177 | / | 0.644281 |
| | = | 0.9548 |
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 - (38824.98 + 1923.095) / 41331.62) | / | (1 - (7013.043 + 1822.568) / 9172.362) |
| = | 0.014119 | / | 0.036714 |
| | = | 0.3846 |
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 |
| = | 7105.296 | / | 6009.353 |
| | = | 1.1824 |
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)) |
| = | (118.009 / (118.009 + 1822.568)) | / | (136.887 / (136.887 + 1923.095)) |
| = | 0.060811 | / | 0.066451 |
| | = | 0.9151 |
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) |
| = | (1942.861 / 7105.296) | / | (1631.421 / 6009.353) |
| = | 0.273438 | / | 0.27148 |
| | = | 1.0072 |
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) |
| = | ((310.883 + 1064.561) / 41331.62) | / | ((178.081 + 1290.755) / 9172.362) |
| = | 0.033278 | / | 0.160137 |
| | = | 0.2078 |
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 |
| = | (2322.443 - 0 | - | 1206.504) | / | 41331.62 |
| | = | 0.027 |
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.
P&S Mechanics Co has a M-score of -0.87 signals that the company is likely to be a manipulator.
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