STAR CM Holdings Beneish M-Score Historical Data
The historical data trend for STAR CM 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.
STAR CM Holdings Beneish M-Score Chart
|
STAR CM Holdings Annual Data
|
|
Trend |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
- |
- |
-3.37 |
-2.68 |
-6.68 |
|
STAR CM Holdings Semi-Annual Data
|
|
Dec19 |
Dec20 |
Jun21 |
Dec21 |
Jun22 |
Dec22 |
Jun23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
-3.37 |
- |
-2.68 |
- |
-6.68 |
Competitive Comparison of STAR CM Holdings's Beneish M-Score
For the Entertainment subindustry, STAR CM 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.
STAR CM Holdings's Beneish M-Score Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, STAR CM Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where STAR CM Holdings's Beneish M-Score falls into.
STAR CM 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 STAR CM 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 * 1.705 | + | 0.528 * -2.3129 | + | 0.404 * 0.8715 | + | 0.892 * 0.4784 | + | 0.115 * 0.7996 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.694 | + | 4.679 * -0.519997 | - | 0.327 * 1.0358 |
| = | -6.68 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was HK$993.0 Mil.
Revenue was HK$466.6 Mil.
Gross Profit was HK$-64.9 Mil.
Total Current Assets was HK$1,447.9 Mil.
Total Assets was HK$3,517.5 Mil.
Property, Plant and Equipment(Net PPE) was HK$330.5 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$57.8 Mil.
Selling, General, & Admin. Expense(SGA) was HK$155.7 Mil.
Total Current Liabilities was HK$354.8 Mil.
Long-Term Debt & Capital Lease Obligation was HK$6.9 Mil.
Net Income was HK$-1,755.1 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$74.0 Mil.
|
Total Receivables was HK$1,217.5 Mil.
Revenue was HK$975.4 Mil.
Gross Profit was HK$313.9 Mil.
Total Current Assets was HK$2,097.8 Mil.
Total Assets was HK$5,580.7 Mil.
Property, Plant and Equipment(Net PPE) was HK$316.9 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$42.8 Mil.
Selling, General, & Admin. Expense(SGA) was HK$192.2 Mil.
Total Current Liabilities was HK$545.5 Mil.
Long-Term Debt & Capital Lease Obligation was HK$8.6 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) |
| = | (993.039 / 466.57) | / | (1217.537 / 975.367) |
| = | 2.128382 | / | 1.248286 |
| | = | 1.705 |
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) |
| = | (313.878 / 975.367) | / | (-64.917 / 466.57) |
| = | 0.321805 | / | -0.139137 |
| | = | -2.3129 |
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 - (1447.908 + 330.537) / 3517.463) | / | (1 - (2097.819 + 316.85) / 5580.705) |
| = | 0.494396 | / | 0.567318 |
| | = | 0.8715 |
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 |
| = | 466.57 | / | 975.367 |
| | = | 0.4784 |
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)) |
| = | (42.78 / (42.78 + 316.85)) | / | (57.766 / (57.766 + 330.537)) |
| = | 0.118956 | / | 0.148765 |
| | = | 0.7996 |
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) |
| = | (155.711 / 466.57) | / | (192.16 / 975.367) |
| = | 0.333736 | / | 0.197013 |
| | = | 1.694 |
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) |
| = | ((6.907 + 354.807) / 3517.463) | / | ((8.565 + 545.463) / 5580.705) |
| = | 0.102834 | / | 0.099276 |
| | = | 1.0358 |
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 |
| = | (-1755.115 - 0 | - | 73.955) | / | 3517.463 |
| | = | -0.519997 |
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.
STAR CM Holdings has a M-score of -6.68 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
HKSE:06698 has been successfully added to your