Chongqing Gas Group Beneish M-Score Historical Data
The historical data trend for Chongqing Gas 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.
Chongqing Gas Group Beneish M-Score Chart
|
Chongqing Gas Group Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.47 |
-2.62 |
-2.51 |
-1.49 |
-1.77 |
|
Chongqing Gas Group Quarterly Data
|
|
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-1.97 |
-1.81 |
-1.79 |
-1.77 |
-2.23 |
Competitive Comparison of Chongqing Gas Group's Beneish M-Score
For the Utilities - Regulated Gas subindustry, Chongqing Gas 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.
Chongqing Gas Group's Beneish M-Score Distribution in the Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Chongqing Gas Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Chongqing Gas Group's Beneish M-Score falls into.
Chongqing Gas 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 Chongqing Gas 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 * 1.2388 | + | 0.528 * 0.7856 | + | 0.404 * 1.0582 | + | 0.892 * 1.1413 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0172 | + | 4.679 * -0.001265 | - | 0.327 * 0.9858 |
| = | -2.23 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was ¥857 Mil.
Revenue was 2702.817 + 3038.316 + 2197.831 + 2377.837 = ¥10,317 Mil.
Gross Profit was 61.786 + 299.674 + 222.188 + 326.68 = ¥910 Mil.
Total Current Assets was ¥2,824 Mil.
Total Assets was ¥10,611 Mil.
Property, Plant and Equipment(Net PPE) was ¥5,547 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥304 Mil.
Total Current Liabilities was ¥3,391 Mil.
Long-Term Debt & Capital Lease Obligation was ¥611 Mil.
Net Income was -51.443 + 224.445 + 107.237 + 217.379 = ¥498 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was -101.928 + -92.484 + 186.946 + 518.51 = ¥511 Mil.
|
Total Receivables was ¥606 Mil.
Revenue was 2590.529 + 2489.83 + 1911.656 + 2047.163 = ¥9,039 Mil.
Gross Profit was 39.618 + 131.833 + 214.271 + 240.874 = ¥627 Mil.
Total Current Assets was ¥2,663 Mil.
Total Assets was ¥10,162 Mil.
Property, Plant and Equipment(Net PPE) was ¥5,471 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥262 Mil.
Total Current Liabilities was ¥3,264 Mil.
Long-Term Debt & Capital Lease Obligation was ¥624 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) |
| = | (857.104 / 10316.801) | / | (606.207 / 9039.178) |
| = | 0.083078 | / | 0.067064 |
| | = | 1.2388 |
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) |
| = | (626.596 / 9039.178) | / | (910.328 / 10316.801) |
| = | 0.06932 | / | 0.088237 |
| | = | 0.7856 |
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 - (2823.59 + 5546.958) / 10611.106) | / | (1 - (2662.866 + 5471.076) / 10161.534) |
| = | 0.211152 | / | 0.199536 |
| | = | 1.0582 |
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 |
| = | 10316.801 | / | 9039.178 |
| | = | 1.1413 |
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 + 5471.076)) | / | (0 / (0 + 5546.958)) |
| = | 0 | / | 0 |
| | = | 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) |
| = | (304.136 / 10316.801) | / | (261.97 / 9039.178) |
| = | 0.02948 | / | 0.028982 |
| | = | 1.0172 |
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) |
| = | ((610.975 + 3391.277) / 10611.106) | / | ((623.967 + 3264.053) / 10161.534) |
| = | 0.377176 | / | 0.382621 |
| | = | 0.9858 |
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 |
| = | (497.618 - 0 | - | 511.044) | / | 10611.106 |
| | = | -0.001265 |
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.
Chongqing Gas Group has a M-score of -2.23 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
SHSE:600917 has been successfully added to your