Suga International Holdings Beneish M-Score Historical Data
The historical data trend for Suga International Holdings'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.
Suga International Holdings Beneish M-Score Chart
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Suga International Holdings Annual Data
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Mar14 |
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Mar19 |
Mar20 |
Mar21 |
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Mar23 |
| Beneish M-Score |
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-2.09 |
-2.68 |
-2.06 |
-2.75 |
-2.77 |
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Suga International Holdings Semi-Annual Data
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Sep14 |
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Sep23 |
| Beneish M-Score |
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-2.75 |
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-2.77 |
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Competitive Comparison of Suga International Holdings's Beneish M-Score
For the Consumer Electronics subindustry, Suga International Holdings'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.
Suga International Holdings's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Suga International Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Suga International Holdings's Beneish M-Score falls into.
Suga International Holdings 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 Suga International Holdings 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 * 1.2941 | + | 0.528 * 0.9881 | + | 0.404 * 0.3142 | + | 0.892 * 0.7778 | + | 0.115 * 1.1373 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1953 | + | 4.679 * -0.021625 | - | 0.327 * 0.8828 |
| = | -2.77 |
* 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 (Mar23) TTM: | Last Year (Mar22) TTM: |
Total Receivables was HK$307 Mil.
Revenue was HK$1,443 Mil.
Gross Profit was HK$203 Mil.
Total Current Assets was HK$870 Mil.
Total Assets was HK$1,231 Mil.
Property, Plant and Equipment(Net PPE) was HK$327 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$43 Mil.
Selling, General, & Admin. Expense(SGA) was HK$178 Mil.
Total Current Liabilities was HK$408 Mil.
Long-Term Debt & Capital Lease Obligation was HK$18 Mil.
Net Income was HK$60 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$86 Mil.
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Total Receivables was HK$305 Mil.
Revenue was HK$1,856 Mil.
Gross Profit was HK$258 Mil.
Total Current Assets was HK$899 Mil.
Total Assets was HK$1,333 Mil.
Property, Plant and Equipment(Net PPE) was HK$317 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$48 Mil.
Selling, General, & Admin. Expense(SGA) was HK$192 Mil.
Total Current Liabilities was HK$501 Mil.
Long-Term Debt & Capital Lease Obligation was HK$22 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) |
| = | (306.614 / 1443.482) | / | (304.626 / 1855.875) |
| = | 0.212413 | / | 0.164141 |
| | = | 1.2941 |
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) |
| = | (257.733 / 1855.875) | / | (202.878 / 1443.482) |
| = | 0.138874 | / | 0.140548 |
| | = | 0.9881 |
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 - (870.399 + 327.008) / 1231.23) | / | (1 - (899.211 + 317.492) / 1333.256) |
| = | 0.027471 | / | 0.08742 |
| | = | 0.3142 |
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 |
| = | 1443.482 | / | 1855.875 |
| | = | 0.7778 |
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)) |
| = | (47.994 / (47.994 + 317.492)) | / | (42.687 / (42.687 + 327.008)) |
| = | 0.131316 | / | 0.115465 |
| | = | 1.1373 |
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) |
| = | (178.186 / 1443.482) | / | (191.667 / 1855.875) |
| = | 0.123442 | / | 0.103276 |
| | = | 1.1953 |
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) |
| = | ((18.37 + 408.166) / 1231.23) | / | ((22.411 + 500.798) / 1333.256) |
| = | 0.346431 | / | 0.39243 |
| | = | 0.8828 |
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 |
| = | (59.81 - 0 | - | 86.435) | / | 1231.23 |
| | = | -0.021625 |
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.
Suga International Holdings has a M-score of -2.77 suggests that the company is unlikely to be a manipulator.
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