Gushen (Gushen) Beneish M-Score : 0.00 (As of May. 19, 2024)

View and export this data going back to 2016. Start your Free Trial

What is Gushen Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

The historical rank and industry rank for Gushen's Beneish M-Score or its related term are showing as below:

During the past 7 years, the highest Beneish M-Score of Gushen was 0.00. The lowest was 0.00. And the median was 0.00.

Gushen Beneish M-Score Historical Data

The historical data trend for Gushen'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.

* Premium members only.

Gushen Beneish M-Score Chart

Gushen Annual Data

Trend

Apr15

Apr16

Apr17

Apr19

Apr20

Apr21

Sep22

Beneish M-Score

Get a 7-Day Free Trial

Gushen Quarterly Data
	Jul16	Oct16	Jan17	Apr17	Jul17	Oct17	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Sep21	Dec21	Mar22	Jun22	Sep22
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of Gushen's Beneish M-Score

For the Education & Training Services subindustry, Gushen'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.

Gushen's Beneish M-Score Distribution in the Education Industry

For the Education industry and Consumer Defensive sector, Gushen's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Gushen's Beneish M-Score falls into.

Gushen 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 Gushen for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.0893

0.528 * 1.1029

0.404 * 0.1673

0.892 * 3.9202

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.2898

4.679 * -1.784218

0.327 * 4.6982

-10.43

This Year (Sep22) TTM:

Last Year (Sep21) TTM:

Total Receivables was $0.08 Mil.
Revenue was 0.9 + 0.966 + 0.445 + 0.096 = $2.41 Mil.
Gross Profit was 0.339 + 0.416 + 0.159 + 0.035 = $0.95 Mil.
Total Current Assets was $1.48 Mil.
Total Assets was $2.05 Mil.
Property, Plant and Equipment(Net PPE) was $0.43 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.08 Mil.
Selling, General, & Admin. Expense(SGA) was $4.31 Mil.
Total Current Liabilities was $12.77 Mil.
Long-Term Debt & Capital Lease Obligation was $0.16 Mil.
Net Income was -7.019 + -0.483 + -0.61 + -1.36 = $-9.47 Mil.
Non Operating Income was -4.142 + 0 + 0.002 + 0 = $-4.14 Mil.
Cash Flow from Operations was -0.145 + -0.13 + -0.194 + -1.2 = $-1.67 Mil.

Total Receivables was $0.22 Mil.
Revenue was 0.614 + 0 + 0 + 0 = $0.61 Mil.
Gross Profit was 0.267 + 0 + 0 + 0 = $0.27 Mil.
Total Current Assets was $3.94 Mil.
Total Assets was $6.95 Mil.
Property, Plant and Equipment(Net PPE) was $0.22 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $3.80 Mil.
Total Current Liabilities was $9.32 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 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)
	=	(0.077 / 2.407)	/	(0.22 / 0.614)
	=	0.03199	/	0.358306
	=	0.0893

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)
	=	(0.267 / 0.614)	/	(0.949 / 2.407)
	=	0.434853	/	0.394267
	=	1.1029

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 - (1.484 + 0.431) / 2.053)	/	(1 - (3.942 + 0.217) / 6.953)
	=	0.067219	/	0.401841
	=	0.1673

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
	=	2.407	/	0.614
	=	3.9202

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))
	=	(0 / (0 + 0.217))	/	(0.078 / (0.078 + 0.431))
	=	0	/	0.153242
	=	1

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)
	=	(4.312 / 2.407)	/	(3.796 / 0.614)
	=	1.791442	/	6.18241
	=	0.2898

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)
	=	((0.155 + 12.767) / 2.053)	/	((0 + 9.315) / 6.953)
	=	6.294204	/	1.339709
	=	4.6982

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
	=	(-9.472 - -4.14	-	-1.669)	/	2.053
	=	-1.784218

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.

Gushen has a M-score of -10.43 suggests that the company is unlikely to be a manipulator.

Gushen Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Gushen's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Gushen (Gushen) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Education » Gushen Inc (OTCPK:GSHN) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Hangfeng Road, Room 1312-13, 14th Floor, Building No. 2, Fengtai District, Beijing, 100070, CHN

Website

Gushen Inc provides family education resources to promote all-around education onsite in local communities organized by their regional collaborative education agency and offer parents easy access to a wide variety of courses online through its application.

Executives

Kit Cheung Yat	director	ROOM 1203, 12/F, HIP KWAN COMMERCIAL BLD, 38 PITT STREET, YAU MA TEI,, YAU MA TEI K3 00000
Chien Hsu Shih	10 percent owner	ROOM 1203, 12/F, HIP KWAN COMMERCIAL BLD, 38 PITT STREET, YAU MA TEI K3 00000
Kit Cheung Ying	10 percent owner	ROOM 1203, 12/F, HIP KWAN COMMERCIAL BLD, 38 PITT STREET, YAU MA TEI,, YAU MA TEI K3 00000
Lung Huang Pin	director, 10 percent owner, officer: President	ROOM 1203, 12/F, HIP KWAN COMMERCIAL BLD, 38 PITT STREET, YAU MA TEI,, YAU MA TEI K3 00000

Gushen (Gushen) Headlines

No Headlines