Talos Co Beneish M-Score Historical Data
The historical data trend for Talos 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.
Talos Co Beneish M-Score Chart
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Talos Co Annual Data
|
|
Trend |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
- |
- |
48.74 |
|
Talos Co Semi-Annual Data
|
|
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
- |
- |
48.74 |
Competitive Comparison of Talos Co's Beneish M-Score
For the Electrical Equipment & Parts subindustry, Talos 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.
Talos Co's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Talos Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Talos Co's Beneish M-Score falls into.
Talos 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 Talos 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 * 48.3693 | + | 0.528 * 1.3743 | + | 0.404 * 19.2008 | + | 0.892 * 0.7876 | + | 0.115 * 0.7116 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.6151 | + | 4.679 * 0.04558 | - | 0.327 * 0.3888 |
| = | 48.74 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was ₩2,264 Mil.
Revenue was ₩10,126 Mil.
Gross Profit was ₩1,882 Mil.
Total Current Assets was ₩12,475 Mil.
Total Assets was ₩19,393 Mil.
Property, Plant and Equipment(Net PPE) was ₩6,623 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩305 Mil.
Selling, General, & Admin. Expense(SGA) was ₩417 Mil.
Total Current Liabilities was ₩3,525 Mil.
Long-Term Debt & Capital Lease Obligation was ₩22 Mil.
Net Income was ₩-285 Mil.
Gross Profit was ₩0 Mil.
Cash Flow from Operations was ₩-1,169 Mil.
|
Total Receivables was ₩59 Mil.
Revenue was ₩12,857 Mil.
Gross Profit was ₩3,283 Mil.
Total Current Assets was ₩6,407 Mil.
Total Assets was ₩13,096 Mil.
Property, Plant and Equipment(Net PPE) was ₩6,679 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩216 Mil.
Selling, General, & Admin. Expense(SGA) was ₩327 Mil.
Total Current Liabilities was ₩6,142 Mil.
Long-Term Debt & Capital Lease Obligation was ₩17 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) |
| = | (2263.792 / 10125.976) | / | (59.419 / 12856.659) |
| = | 0.223563 | / | 0.004622 |
| | = | 48.3693 |
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) |
| = | (3283.498 / 12856.659) | / | (1881.784 / 10125.976) |
| = | 0.255393 | / | 0.185837 |
| | = | 1.3743 |
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 - (12474.942 + 6623.24) / 19393.101) | / | (1 - (6406.613 + 6679.438) / 13096.423) |
| = | 0.015207 | / | 0.000792 |
| | = | 19.2008 |
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 |
| = | 10125.976 | / | 12856.659 |
| | = | 0.7876 |
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)) |
| = | (215.987 / (215.987 + 6679.438)) | / | (304.982 / (304.982 + 6623.24)) |
| = | 0.031323 | / | 0.04402 |
| | = | 0.7116 |
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) |
| = | (416.548 / 10125.976) | / | (327.47 / 12856.659) |
| = | 0.041137 | / | 0.025471 |
| | = | 1.6151 |
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) |
| = | ((21.511 + 3524.782) / 19393.101) | / | ((17.271 + 6141.697) / 13096.423) |
| = | 0.182864 | / | 0.470279 |
| | = | 0.3888 |
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 |
| = | (-285.341 - 0 | - | -1169.269) | / | 19393.101 |
| | = | 0.04558 |
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.
Talos Co has a M-score of 48.74 signals that the company is likely to be a manipulator.
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