Gus Technology Co Beneish M-Score Historical Data
The historical data trend for Gus Technology Co'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.
Gus Technology Co Beneish M-Score Chart
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Gus Technology Co Annual Data
|
|
Trend |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
- |
- |
20.77 |
|
Gus Technology Co Semi-Annual Data
|
|
Dec21 |
Jun22 |
Dec22 |
Jun23 |
Dec23 |
| Beneish M-Score |
- |
- |
- |
- |
20.77 |
Competitive Comparison of Gus Technology Co's Beneish M-Score
For the Electrical Equipment & Parts subindustry, Gus Technology Co'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.
Gus Technology Co's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Gus Technology Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Gus Technology Co's Beneish M-Score falls into.
Gus Technology Co 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 Gus Technology Co 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 * 27.0133 | + | 0.528 * 0.3254 | + | 0.404 * 0.7263 | + | 0.892 * 0.9358 | + | 0.115 * 0.6295 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 2.1751 | + | 4.679 * 0.014589 | - | 0.327 * 0.9463 |
| = | 20.77 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was NT$34.68 Mil.
Revenue was NT$46.33 Mil.
Gross Profit was NT$-233.35 Mil.
Total Current Assets was NT$842.99 Mil.
Total Assets was NT$4,364.61 Mil.
Property, Plant and Equipment(Net PPE) was NT$3,456.76 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$76.30 Mil.
Selling, General, & Admin. Expense(SGA) was NT$152.42 Mil.
Total Current Liabilities was NT$218.51 Mil.
Long-Term Debt & Capital Lease Obligation was NT$1,925.50 Mil.
Net Income was NT$-478.48 Mil.
Gross Profit was NT$0.00 Mil.
Cash Flow from Operations was NT$-542.16 Mil.
|
Total Receivables was NT$1.37 Mil.
Revenue was NT$49.51 Mil.
Gross Profit was NT$-81.14 Mil.
Total Current Assets was NT$799.04 Mil.
Total Assets was NT$3,486.86 Mil.
Property, Plant and Equipment(Net PPE) was NT$2,616.48 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$36.06 Mil.
Selling, General, & Admin. Expense(SGA) was NT$74.88 Mil.
Total Current Liabilities was NT$1,037.60 Mil.
Long-Term Debt & Capital Lease Obligation was NT$772.45 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) |
| = | (34.683 / 46.331) | / | (1.372 / 49.509) |
| = | 0.748592 | / | 0.027712 |
| | = | 27.0133 |
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) |
| = | (-81.143 / 49.509) | / | (-233.347 / 46.331) |
| = | -1.638955 | / | -5.03652 |
| | = | 0.3254 |
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 - (842.99 + 3456.762) / 4364.611) | / | (1 - (799.035 + 2616.484) / 3486.864) |
| = | 0.01486 | / | 0.020461 |
| | = | 0.7263 |
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 |
| = | 46.331 | / | 49.509 |
| | = | 0.9358 |
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)) |
| = | (36.06 / (36.06 + 2616.484)) | / | (76.299 / (76.299 + 3456.762)) |
| = | 0.013594 | / | 0.021596 |
| | = | 0.6295 |
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) |
| = | (152.419 / 46.331) | / | (74.88 / 49.509) |
| = | 3.289784 | / | 1.512452 |
| | = | 2.1751 |
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) |
| = | ((1925.504 + 218.506) / 4364.611) | / | ((772.451 + 1037.599) / 3486.864) |
| = | 0.491226 | / | 0.519105 |
| | = | 0.9463 |
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 |
| = | (-478.48 - 0 | - | -542.157) | / | 4364.611 |
| | = | 0.014589 |
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.
Gus Technology Co has a M-score of 20.77 signals that the company is likely to be a manipulator.
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