Pan Entertainment Co Beneish M-Score Historical Data
The historical data trend for Pan Entertainment 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.
Pan Entertainment Co Beneish M-Score Chart
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Pan Entertainment Co Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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12.43 |
-2.31 |
-0.09 |
-2.78 |
1.02 |
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Pan Entertainment Co 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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-1.91 |
0.72 |
2.25 |
1.02 |
-1.74 |
Competitive Comparison of Pan Entertainment Co's Beneish M-Score
For the Entertainment subindustry, Pan Entertainment 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.
Pan Entertainment Co's Beneish M-Score Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Pan Entertainment Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Pan Entertainment Co's Beneish M-Score falls into.
Pan Entertainment 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 Pan Entertainment 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 * 0.2328 | + | 0.528 * 1.3739 | + | 0.404 * 1.1986 | + | 0.892 * 2.3906 | + | 0.115 * 0.9912 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.5412 | + | 4.679 * -0.057851 | - | 0.327 * 0.638 |
| = | -1.74 |
* 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 ₩5,944 Mil.
Revenue was 13063.095 + 27704.365 + 28382.817 + 43743.169 = ₩112,893 Mil.
Gross Profit was 1128.349 + 973.963 + 1832.645 + 3126.864 = ₩7,062 Mil.
Total Current Assets was ₩23,879 Mil.
Total Assets was ₩107,749 Mil.
Property, Plant and Equipment(Net PPE) was ₩11,346 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,051 Mil.
Selling, General, & Admin. Expense(SGA) was ₩874 Mil.
Total Current Liabilities was ₩22,929 Mil.
Long-Term Debt & Capital Lease Obligation was ₩518 Mil.
Net Income was 490.847 + 3770.208 + 932.606 + 2224.871 = ₩7,419 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 498.962 + -433.395 + 5497.502 + 8088.891 = ₩13,652 Mil.
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Total Receivables was ₩10,681 Mil.
Revenue was 23980.291 + 12042.5 + 9504.773 + 1696.415 = ₩47,224 Mil.
Gross Profit was 1681.029 + 748.979 + 978.002 + 650.564 = ₩4,059 Mil.
Total Current Assets was ₩42,283 Mil.
Total Assets was ₩120,153 Mil.
Property, Plant and Equipment(Net PPE) was ₩10,398 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩953 Mil.
Selling, General, & Admin. Expense(SGA) was ₩675 Mil.
Total Current Liabilities was ₩39,441 Mil.
Long-Term Debt & Capital Lease Obligation was ₩1,538 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) |
| = | (5943.901 / 112893.446) | / | (10681.274 / 47223.979) |
| = | 0.052651 | / | 0.226183 |
| | = | 0.2328 |
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) |
| = | (4058.574 / 47223.979) | / | (7061.821 / 112893.446) |
| = | 0.085943 | / | 0.062553 |
| | = | 1.3739 |
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 - (23878.952 + 11345.664) / 107749.154) | / | (1 - (42283.308 + 10397.876) / 120153.46) |
| = | 0.673087 | / | 0.561551 |
| | = | 1.1986 |
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 |
| = | 112893.446 | / | 47223.979 |
| | = | 2.3906 |
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)) |
| = | (953.453 / (953.453 + 10397.876)) | / | (1050.501 / (1050.501 + 11345.664)) |
| = | 0.083995 | / | 0.084744 |
| | = | 0.9912 |
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) |
| = | (873.861 / 112893.446) | / | (675.441 / 47223.979) |
| = | 0.007741 | / | 0.014303 |
| | = | 0.5412 |
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) |
| = | ((517.996 + 22929.024) / 107749.154) | / | ((1538.232 + 39441.016) / 120153.46) |
| = | 0.217607 | / | 0.341058 |
| | = | 0.638 |
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 |
| = | (7418.532 - 0 | - | 13651.96) | / | 107749.154 |
| | = | -0.057851 |
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.
Pan Entertainment Co has a M-score of -1.74 signals that the company is likely to be a manipulator.
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