Alibaba Pictures Group Beneish M-Score Historical Data
The historical data trend for Alibaba Pictures Group'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.
Alibaba Pictures Group Beneish M-Score Chart
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Alibaba Pictures Group Annual Data
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Dec13 |
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Mar23 |
| Beneish M-Score |
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-1.67 |
-2.72 |
-1.98 |
-2.00 |
-2.48 |
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Alibaba Pictures Group Semi-Annual Data
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| Beneish M-Score |
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-2.00 |
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-2.48 |
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Competitive Comparison of Alibaba Pictures Group's Beneish M-Score
For the Entertainment subindustry, Alibaba Pictures Group'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.
Alibaba Pictures Group's Beneish M-Score Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Alibaba Pictures Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Alibaba Pictures Group's Beneish M-Score falls into.
Alibaba Pictures Group 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 Alibaba Pictures Group 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 * 1.1926 | + | 0.528 * 1.276 | + | 0.404 * 0.9199 | + | 0.892 * 0.8904 | + | 0.115 * 1.1721 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.7778 | + | 4.679 * -0.055967 | - | 0.327 * 0.9522 |
| = | -2.48 |
* 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$3,083 Mil.
Revenue was HK$4,010 Mil.
Gross Profit was HK$1,286 Mil.
Total Current Assets was HK$9,683 Mil.
Total Assets was HK$17,736 Mil.
Property, Plant and Equipment(Net PPE) was HK$152 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$68 Mil.
Selling, General, & Admin. Expense(SGA) was HK$1,272 Mil.
Total Current Liabilities was HK$1,474 Mil.
Long-Term Debt & Capital Lease Obligation was HK$135 Mil.
Net Income was HK$-332 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$661 Mil.
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Total Receivables was HK$2,903 Mil.
Revenue was HK$4,503 Mil.
Gross Profit was HK$1,843 Mil.
Total Current Assets was HK$9,693 Mil.
Total Assets was HK$19,206 Mil.
Property, Plant and Equipment(Net PPE) was HK$211 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$121 Mil.
Selling, General, & Admin. Expense(SGA) was HK$1,837 Mil.
Total Current Liabilities was HK$1,661 Mil.
Long-Term Debt & Capital Lease Obligation was HK$169 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) |
| = | (3082.689 / 4009.669) | / | (2902.814 / 4503.073) |
| = | 0.768814 | / | 0.64463 |
| | = | 1.1926 |
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) |
| = | (1843.492 / 4503.073) | / | (1286.459 / 4009.669) |
| = | 0.409385 | / | 0.320839 |
| | = | 1.276 |
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 - (9683.244 + 151.516) / 17736.016) | / | (1 - (9693.481 + 211.328) / 19205.843) |
| = | 0.445492 | / | 0.484281 |
| | = | 0.9199 |
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 |
| = | 4009.669 | / | 4503.073 |
| | = | 0.8904 |
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)) |
| = | (120.58 / (120.58 + 211.328)) | / | (68.053 / (68.053 + 151.516)) |
| = | 0.363293 | / | 0.309939 |
| | = | 1.1721 |
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) |
| = | (1272.378 / 4009.669) | / | (1837.204 / 4503.073) |
| = | 0.317327 | / | 0.407989 |
| | = | 0.7778 |
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) |
| = | ((135.046 + 1474.415) / 17736.016) | / | ((169.204 + 1661.032) / 19205.843) |
| = | 0.090745 | / | 0.095296 |
| | = | 0.9522 |
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 |
| = | (-331.598 - 0 | - | 661.032) | / | 17736.016 |
| | = | -0.055967 |
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.
Alibaba Pictures Group has a M-score of -2.48 suggests that the company is unlikely to be a manipulator.
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