Farm Fresh Bhd Beneish M-Score Historical Data
The historical data trend for Farm Fresh Bhd'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.
Farm Fresh Bhd Beneish M-Score Chart
|
Farm Fresh Bhd Annual Data
|
|
Trend |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
|
- |
- |
- |
- |
-1.89 |
|
Farm Fresh Bhd Quarterly Data
|
|
Mar19 |
Mar20 |
Sep20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
- |
-1.89 |
-1.95 |
-2.05 |
-2.26 |
Competitive Comparison of Farm Fresh Bhd's Beneish M-Score
For the Packaged Foods subindustry, Farm Fresh Bhd'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.
Farm Fresh Bhd's Beneish M-Score Distribution in the Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Farm Fresh Bhd's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Farm Fresh Bhd's Beneish M-Score falls into.
Farm Fresh Bhd 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 Farm Fresh Bhd 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 * 1.1157 | + | 0.528 * 1.062 | + | 0.404 * 1.4983 | + | 0.892 * 1.2689 | + | 0.115 * 0.9172 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.145 | + | 4.679 * -0.065215 | - | 0.327 * 1.0632 |
| = | -2.26 |
* 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 RM170.8 Mil.
Revenue was 211.621 + 198.3 + 185.456 + 161.364 = RM756.7 Mil.
Gross Profit was 65.631 + 52.206 + 32.873 + 32.761 = RM183.5 Mil.
Total Current Assets was RM517.3 Mil.
Total Assets was RM1,267.7 Mil.
Property, Plant and Equipment(Net PPE) was RM513.0 Mil.
Depreciation, Depletion and Amortization(DDA) was RM43.7 Mil.
Selling, General, & Admin. Expense(SGA) was RM122.1 Mil.
Total Current Liabilities was RM186.6 Mil.
Long-Term Debt & Capital Lease Obligation was RM358.9 Mil.
Net Income was 20.441 + 12.789 + 6.371 + 4.889 = RM44.5 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.0 Mil.
Cash Flow from Operations was 16.84 + 50.877 + 36.634 + 22.811 = RM127.2 Mil.
|
Total Receivables was RM120.7 Mil.
Revenue was 162.165 + 162.14 + 144.022 + 128.068 = RM596.4 Mil.
Gross Profit was 39.492 + 39.692 + 37.707 + 36.67 = RM153.6 Mil.
Total Current Assets was RM538.1 Mil.
Total Assets was RM1,084.8 Mil.
Property, Plant and Equipment(Net PPE) was RM411.1 Mil.
Depreciation, Depletion and Amortization(DDA) was RM31.9 Mil.
Selling, General, & Admin. Expense(SGA) was RM84.0 Mil.
Total Current Liabilities was RM187.1 Mil.
Long-Term Debt & Capital Lease Obligation was RM251.9 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) |
| = | (170.81 / 756.741) | / | (120.657 / 596.395) |
| = | 0.225718 | / | 0.202311 |
| | = | 1.1157 |
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) |
| = | (153.561 / 596.395) | / | (183.471 / 756.741) |
| = | 0.257482 | / | 0.242449 |
| | = | 1.062 |
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 - (517.328 + 512.987) / 1267.684) | / | (1 - (538.098 + 411.103) / 1084.765) |
| = | 0.187246 | / | 0.124971 |
| | = | 1.4983 |
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 |
| = | 756.741 | / | 596.395 |
| | = | 1.2689 |
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)) |
| = | (31.862 / (31.862 + 411.103)) | / | (43.652 / (43.652 + 512.987)) |
| = | 0.071929 | / | 0.078421 |
| | = | 0.9172 |
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) |
| = | (122.062 / 756.741) | / | (84.016 / 596.395) |
| = | 0.1613 | / | 0.140873 |
| | = | 1.145 |
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) |
| = | ((358.86 + 186.571) / 1267.684) | / | ((251.9 + 187.095) / 1084.765) |
| = | 0.430258 | / | 0.404691 |
| | = | 1.0632 |
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 |
| = | (44.49 - 0 | - | 127.162) | / | 1267.684 |
| | = | -0.065215 |
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.
Farm Fresh Bhd has a M-score of -2.26 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
XKLS:5306 has been successfully added to your