Virtuoso OptoElectronics Beneish M-Score Historical Data
The historical data trend for Virtuoso OptoElectronics'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.
Virtuoso OptoElectronics Beneish M-Score Chart
|
Virtuoso OptoElectronics Annual Data
|
|
Trend |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
Mar24 |
| Beneish M-Score |
|
- |
- |
-2.87 |
0.43 |
-2.45 |
|
Virtuoso OptoElectronics Semi-Annual Data
|
|
Mar20 |
Mar21 |
Mar22 |
Sep22 |
Mar23 |
Sep23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
-2.87 |
- |
0.43 |
- |
-2.45 |
Competitive Comparison of Virtuoso OptoElectronics's Beneish M-Score
For the Consumer Electronics subindustry, Virtuoso OptoElectronics'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.
Virtuoso OptoElectronics's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Virtuoso OptoElectronics's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Virtuoso OptoElectronics's Beneish M-Score falls into.
Virtuoso OptoElectronics 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 Virtuoso OptoElectronics 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 * 0.4653 | + | 0.528 * 0.8962 | + | 0.404 * 0.715 | + | 0.892 * 1.5881 | + | 0.115 * 0.7711 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0 | + | 4.679 * -0.007848 | - | 0.327 * 0.8134 |
| = | -2.45 |
* 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 ₹215 Mil.
Revenue was ₹5,311 Mil.
Gross Profit was ₹734 Mil.
Total Current Assets was ₹3,057 Mil.
Total Assets was ₹4,558 Mil.
Property, Plant and Equipment(Net PPE) was ₹1,372 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹183 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹1,804 Mil.
Long-Term Debt & Capital Lease Obligation was ₹604 Mil.
Net Income was ₹102 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹137 Mil.
|
Total Receivables was ₹291 Mil.
Revenue was ₹3,344 Mil.
Gross Profit was ₹414 Mil.
Total Current Assets was ₹1,711 Mil.
Total Assets was ₹2,765 Mil.
Property, Plant and Equipment(Net PPE) was ₹945 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹94 Mil.
Selling, General, & Admin. Expense(SGA) was ₹8 Mil.
Total Current Liabilities was ₹1,387 Mil.
Long-Term Debt & Capital Lease Obligation was ₹409 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) |
| = | (215.068 / 5310.645) | / | (291.025 / 3344.035) |
| = | 0.040498 | / | 0.087028 |
| | = | 0.4653 |
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) |
| = | (414.39 / 3344.035) | / | (734.308 / 5310.645) |
| = | 0.123919 | / | 0.138271 |
| | = | 0.8962 |
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 - (3056.939 + 1371.792) / 4557.958) | / | (1 - (1710.564 + 944.767) / 2764.976) |
| = | 0.028352 | / | 0.039655 |
| | = | 0.715 |
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 |
| = | 5310.645 | / | 3344.035 |
| | = | 1.5881 |
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)) |
| = | (94.289 / (94.289 + 944.767)) | / | (182.96 / (182.96 + 1371.792)) |
| = | 0.090745 | / | 0.117678 |
| | = | 0.7711 |
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) |
| = | (0 / 5310.645) | / | (8.416 / 3344.035) |
| = | 0 | / | 0.002517 |
| | = | 0 |
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) |
| = | ((604.105 + 1804.411) / 4557.958) | / | ((409.388 + 1386.789) / 2764.976) |
| = | 0.52842 | / | 0.649618 |
| | = | 0.8134 |
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 |
| = | (101.704 - 0 | - | 137.475) | / | 4557.958 |
| | = | -0.007848 |
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.
Virtuoso OptoElectronics has a M-score of -2.45 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
BOM:543597 has been successfully added to your