Suppro Co Beneish M-Score Historical Data
The historical data trend for Suppro 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.
Suppro Co Beneish M-Score Chart
|
Suppro Co Annual Data
|
|
Trend |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
|
- |
- |
-1.85 |
-1.63 |
-2.67 |
|
Suppro Co Semi-Annual Data
|
|
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
- |
- |
-1.85 |
-1.63 |
-2.67 |
Competitive Comparison of Suppro Co's Beneish M-Score
For the Farm Products subindustry, Suppro 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.
Suppro Co's Beneish M-Score Distribution in the Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Suppro Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Suppro Co's Beneish M-Score falls into.
Suppro 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 Suppro 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 * 0.7972 | + | 0.528 * 0.8831 | + | 0.404 * 0.9226 | + | 0.892 * 0.8371 | + | 0.115 * 1.025 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.4312 | + | 4.679 * 0.050794 | - | 0.327 * 0.7852 |
| = | -2.67 |
* 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 (Mar23) TTM: | Last Year (Mar22) TTM: |
Total Receivables was ₩3,689 Mil.
Revenue was ₩20,084 Mil.
Gross Profit was ₩3,432 Mil.
Total Current Assets was ₩8,641 Mil.
Total Assets was ₩10,820 Mil.
Property, Plant and Equipment(Net PPE) was ₩1,357 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩342 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,789 Mil.
Total Current Liabilities was ₩3,534 Mil.
Long-Term Debt & Capital Lease Obligation was ₩286 Mil.
Net Income was ₩471 Mil.
Gross Profit was ₩0 Mil.
Cash Flow from Operations was ₩-78 Mil.
|
Total Receivables was ₩5,528 Mil.
Revenue was ₩23,993 Mil.
Gross Profit was ₩3,621 Mil.
Total Current Assets was ₩9,350 Mil.
Total Assets was ₩11,601 Mil.
Property, Plant and Equipment(Net PPE) was ₩1,296 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩337 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,493 Mil.
Total Current Liabilities was ₩4,972 Mil.
Long-Term Debt & Capital Lease Obligation was ₩245 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) |
| = | (3688.713 / 20083.878) | / | (5527.702 / 23992.682) |
| = | 0.183665 | / | 0.230391 |
| | = | 0.7972 |
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) |
| = | (3620.907 / 23992.682) | / | (3432.095 / 20083.878) |
| = | 0.150917 | / | 0.170888 |
| | = | 0.8831 |
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 - (8640.768 + 1356.851) / 10819.888) | / | (1 - (9349.83 + 1295.727) / 11601.217) |
| = | 0.075996 | / | 0.082376 |
| | = | 0.9226 |
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 |
| = | 20083.878 | / | 23992.682 |
| | = | 0.8371 |
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)) |
| = | (336.854 / (336.854 + 1295.727)) | / | (341.972 / (341.972 + 1356.851)) |
| = | 0.206332 | / | 0.201299 |
| | = | 1.025 |
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) |
| = | (1788.639 / 20083.878) | / | (1492.995 / 23992.682) |
| = | 0.089058 | / | 0.062227 |
| | = | 1.4312 |
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) |
| = | ((286.333 + 3534.148) / 10819.888) | / | ((244.646 + 4972.368) / 11601.217) |
| = | 0.353098 | / | 0.449695 |
| | = | 0.7852 |
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 |
| = | (471.406 - 0 | - | -78.183) | / | 10819.888 |
| | = | 0.050794 |
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.
Suppro Co has a M-score of -2.67 suggests that the company is unlikely to be a manipulator.
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