Young Poong Beneish M-Score Historical Data
The historical data trend for Young Poong'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.
Young Poong Beneish M-Score Chart
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Young Poong Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.65 |
-2.48 |
-2.03 |
-2.41 |
-7.32 |
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Young Poong Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-2.51 |
24.33 |
-13.44 |
-7.32 |
-5.67 |
Competitive Comparison of Young Poong's Beneish M-Score
For the Other Industrial Metals & Mining subindustry, Young Poong'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.
Young Poong's Beneish M-Score Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Young Poong's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Young Poong's Beneish M-Score falls into.
Young Poong 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 Young Poong 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 * 0 | + | 0.528 * -2.7135 | + | 0.404 * 1.4134 | + | 0.892 * 0.8478 | + | 0.115 * 0.1122 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1406 | + | 4.679 * -0.067036 | - | 0.327 * 0.6873 |
| = | -5.67 |
* 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 ₩0 Mil.
Revenue was 741422.366 + 868565.649 + 1056655.326 + 945820.891 = ₩3,612,464 Mil.
Gross Profit was -7431.507 + -91362.185 + 83792.834 + -31824.343 = ₩-46,825 Mil.
Total Current Assets was ₩1,317,979 Mil.
Total Assets was ₩5,524,987 Mil.
Property, Plant and Equipment(Net PPE) was ₩0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩116,920 Mil.
Selling, General, & Admin. Expense(SGA) was ₩89,421 Mil.
Total Current Liabilities was ₩654,007 Mil.
Long-Term Debt & Capital Lease Obligation was ₩0 Mil.
Net Income was -5815.272 + -136791.414 + 78230.624 + -11816.638 = ₩-76,193 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 0 + 46568.098 + 105292.702 + 142318.195 = ₩294,179 Mil.
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Total Receivables was ₩446,681 Mil.
Revenue was 890690.767 + 1049078.477 + 1261371.925 + 1059855.712 = ₩4,260,997 Mil.
Gross Profit was 13445.16 + -81472.796 + 104405.869 + 113491.261 = ₩149,869 Mil.
Total Current Assets was ₩1,616,921 Mil.
Total Assets was ₩5,761,750 Mil.
Property, Plant and Equipment(Net PPE) was ₩1,040,814 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩131,477 Mil.
Selling, General, & Admin. Expense(SGA) was ₩92,469 Mil.
Total Current Liabilities was ₩819,545 Mil.
Long-Term Debt & Capital Lease Obligation was ₩172,843 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) |
| = | (0 / 3612464.232) | / | (446681.052 / 4260996.881) |
| = | 0 | / | 0.10483 |
| | = | 0 |
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) |
| = | (149869.494 / 4260996.881) | / | (-46825.201 / 3612464.232) |
| = | 0.035172 | / | -0.012962 |
| | = | -2.7135 |
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 - (1317978.921 + 0) / 5524987.172) | / | (1 - (1616921.06 + 1040814.077) / 5761750.233) |
| = | 0.761451 | / | 0.538728 |
| | = | 1.4134 |
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 |
| = | 3612464.232 | / | 4260996.881 |
| | = | 0.8478 |
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)) |
| = | (131476.757 / (131476.757 + 1040814.077)) | / | (116919.932 / (116919.932 + 0)) |
| = | 0.112154 | / | 1 |
| | = | 0.1122 |
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) |
| = | (89420.652 / 3612464.232) | / | (92469.218 / 4260996.881) |
| = | 0.024753 | / | 0.021701 |
| | = | 1.1406 |
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) |
| = | ((0 + 654007.445) / 5524987.172) | / | ((172842.914 + 819544.785) / 5761750.233) |
| = | 0.118373 | / | 0.172237 |
| | = | 0.6873 |
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 |
| = | (-76192.7 - 0 | - | 294178.995) | / | 5524987.172 |
| | = | -0.067036 |
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.
Young Poong has a M-score of -5.67 suggests that the company is unlikely to be a manipulator.
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