BBC Co Beneish M-Score Historical Data
The historical data trend for BBC 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.
BBC Co Beneish M-Score Chart
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BBC Co Annual Data
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Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
-1.06 |
-2.64 |
-2.25 |
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BBC 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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-2.57 |
-2.94 |
-2.76 |
-2.25 |
-2.90 |
Competitive Comparison of BBC Co's Beneish M-Score
For the Tools & Accessories subindustry, BBC 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.
BBC Co's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, BBC Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where BBC Co's Beneish M-Score falls into.
BBC 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 BBC 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 * 0.8778 | + | 0.528 * 0.7341 | + | 0.404 * 1.2149 | + | 0.892 * 1.2655 | + | 0.115 * 0.9734 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.8689 | + | 4.679 * -0.061258 | - | 0.327 * 1.1494 |
| = | -2.90 |
* 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 ₩8,541 Mil.
Revenue was 16828.501 + 16650.123 + 14008.391 + 11223.705 = ₩58,711 Mil.
Gross Profit was 7613.653 + 6477.106 + 5765.392 + 4148.638 = ₩24,005 Mil.
Total Current Assets was ₩49,715 Mil.
Total Assets was ₩90,084 Mil.
Property, Plant and Equipment(Net PPE) was ₩32,639 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩3,310 Mil.
Selling, General, & Admin. Expense(SGA) was ₩15,322 Mil.
Total Current Liabilities was ₩11,237 Mil.
Long-Term Debt & Capital Lease Obligation was ₩1,805 Mil.
Net Income was 401.081 + 3052.923 + 1065.246 + 173.961 = ₩4,693 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 5950.704 + 1461.72 + -49.09 + 2848.232 = ₩10,212 Mil.
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Total Receivables was ₩7,688 Mil.
Revenue was 11719.375 + 11383.416 + 11193.689 + 12095.215 = ₩46,392 Mil.
Gross Profit was 3366.734 + 2601.929 + 3283.424 + 4671.782 = ₩13,924 Mil.
Total Current Assets was ₩46,091 Mil.
Total Assets was ₩86,025 Mil.
Property, Plant and Equipment(Net PPE) was ₩33,859 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩3,334 Mil.
Selling, General, & Admin. Expense(SGA) was ₩6,478 Mil.
Total Current Liabilities was ₩8,203 Mil.
Long-Term Debt & Capital Lease Obligation was ₩2,632 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) |
| = | (8541.297 / 58710.72) | / | (7688.412 / 46391.695) |
| = | 0.145481 | / | 0.165728 |
| | = | 0.8778 |
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) |
| = | (13923.869 / 46391.695) | / | (24004.789 / 58710.72) |
| = | 0.300137 | / | 0.408866 |
| | = | 0.7341 |
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 - (49715.325 + 32638.919) / 90083.822) | / | (1 - (46090.661 + 33858.621) / 86024.776) |
| = | 0.085804 | / | 0.070625 |
| | = | 1.2149 |
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 |
| = | 58710.72 | / | 46391.695 |
| | = | 1.2655 |
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)) |
| = | (3333.623 / (3333.623 + 33858.621)) | / | (3310.294 / (3310.294 + 32638.919)) |
| = | 0.089632 | / | 0.092083 |
| | = | 0.9734 |
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) |
| = | (15322.246 / 58710.72) | / | (6478.126 / 46391.695) |
| = | 0.260979 | / | 0.13964 |
| | = | 1.8689 |
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) |
| = | ((1804.893 + 11236.961) / 90083.822) | / | ((2632.086 + 8203.135) / 86024.776) |
| = | 0.144775 | / | 0.125955 |
| | = | 1.1494 |
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 |
| = | (4693.211 - 0 | - | 10211.566) | / | 90083.822 |
| | = | -0.061258 |
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.
BBC Co has a M-score of -2.90 suggests that the company is unlikely to be a manipulator.
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