Lameditech Co Beneish M-Score Historical Data
The historical data trend for Lameditech 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.
Lameditech Co Beneish M-Score Chart
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Lameditech Co Annual Data
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Trend |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
- |
-1.12 |
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Lameditech Co Quarterly Data
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Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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- |
- |
- |
- |
-1.12 |
Competitive Comparison of Lameditech Co's Beneish M-Score
For the Medical Devices subindustry, Lameditech 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.
Lameditech Co's Beneish M-Score Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Lameditech Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Lameditech Co's Beneish M-Score falls into.
Lameditech 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 Lameditech 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 * 0.6144 | + | 0.528 * 0.86 | + | 0.404 * 2.2103 | + | 0.892 * 2.2537 | + | 0.115 * 1.5532 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.7246 | + | 4.679 * 0.014443 | - | 0.327 * 0.4743 |
| = | -1.12 |
* 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 ₩1,039 Mil.
Revenue was 2046.583 + 1692.867 + 1858.359 + 979.078 = ₩6,577 Mil.
Gross Profit was 778.774 + 477.39 + 763.181 + 337.763 = ₩2,357 Mil.
Total Current Assets was ₩15,487 Mil.
Total Assets was ₩22,346 Mil.
Property, Plant and Equipment(Net PPE) was ₩6,087 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩465 Mil.
Selling, General, & Admin. Expense(SGA) was ₩7,868 Mil.
Total Current Liabilities was ₩1,283 Mil.
Long-Term Debt & Capital Lease Obligation was ₩602 Mil.
Net Income was -2780.096 + -2324.283 + -2751.725 + -1627.684 = ₩-9,484 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was -1923.158 + -2507.637 + -3491.668 + -1884.074 = ₩-9,807 Mil.
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Total Receivables was ₩751 Mil.
Revenue was 988.053 + 380.359 + 1121.868 + 427.942 = ₩2,918 Mil.
Gross Profit was 141.45 + 113.61 + 519.441 + 124.925 = ₩899 Mil.
Total Current Assets was ₩8,711 Mil.
Total Assets was ₩11,278 Mil.
Property, Plant and Equipment(Net PPE) was ₩2,390 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩296 Mil.
Selling, General, & Admin. Expense(SGA) was ₩2,024 Mil.
Total Current Liabilities was ₩1,185 Mil.
Long-Term Debt & Capital Lease Obligation was ₩821 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) |
| = | (1039.49 / 6576.887) | / | (750.754 / 2918.222) |
| = | 0.158052 | / | 0.257264 |
| | = | 0.6144 |
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) |
| = | (899.426 / 2918.222) | / | (2357.108 / 6576.887) |
| = | 0.30821 | / | 0.358393 |
| | = | 0.86 |
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 - (15486.825 + 6086.743) / 22345.89) | / | (1 - (8711.064 + 2390.24) / 11277.657) |
| = | 0.034562 | / | 0.015637 |
| | = | 2.2103 |
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 |
| = | 6576.887 | / | 2918.222 |
| | = | 2.2537 |
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)) |
| = | (296.078 / (296.078 + 2390.24)) | / | (464.903 / (464.903 + 6086.743)) |
| = | 0.110217 | / | 0.07096 |
| | = | 1.5532 |
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) |
| = | (7868.235 / 6576.887) | / | (2024.298 / 2918.222) |
| = | 1.196346 | / | 0.693675 |
| | = | 1.7246 |
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) |
| = | ((601.654 + 1282.738) / 22345.89) | / | ((820.5 + 1184.69) / 11277.657) |
| = | 0.084328 | / | 0.177802 |
| | = | 0.4743 |
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 |
| = | (-9483.788 - 0 | - | -9806.537) | / | 22345.89 |
| | = | 0.014443 |
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.
Lameditech Co has a M-score of -1.12 signals that the company is likely to be a manipulator.
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