Star Media Group Bhd (XKLS:6084) Beneish M-Score : -2.25 (As of Nov. 14, 2024)

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What is Star Media Group Bhd Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

Good Sign:

Beneish M-Score -2.25 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Star Media Group Bhd's Beneish M-Score or its related term are showing as below:

XKLS:6084' s Beneish M-Score Range Over the Past 10 Years
Min: -4.02 Med: -2.45 Max: -1.21
Current: -2.25

During the past 13 years, the highest Beneish M-Score of Star Media Group Bhd was -1.21. The lowest was -4.02. And the median was -2.45.

Star Media Group Bhd Beneish M-Score Historical Data

The historical data trend for Star Media Group Bhd'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.

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Star Media Group Bhd Beneish M-Score Chart

Star Media Group Bhd Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-3.10

-1.21

-4.02

-2.52

-2.25

Star Media Group Bhd Quarterly Data
	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-2.25	-	-

Competitive Comparison of Star Media Group Bhd's Beneish M-Score

For the Publishing subindustry, Star Media Group Bhd'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.

Star Media Group Bhd's Beneish M-Score Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Star Media Group Bhd's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Star Media Group Bhd's Beneish M-Score falls into.

Star Media Group Bhd 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 Star Media Group Bhd for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.0521

0.528 * 1.0652

0.404 * 1.2132

0.892 * 1.0003

0.115 * 0.7344

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0233

4.679 * 0.019661

0.327 * 0.9842

-2.25

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was RM35.5 Mil.
Revenue was RM220.0 Mil.
Gross Profit was RM128.3 Mil.
Total Current Assets was RM450.6 Mil.
Total Assets was RM773.5 Mil.
Property, Plant and Equipment(Net PPE) was RM119.7 Mil.
Depreciation, Depletion and Amortization(DDA) was RM15.8 Mil.
Selling, General, & Admin. Expense(SGA) was RM143.5 Mil.
Total Current Liabilities was RM111.0 Mil.
Long-Term Debt & Capital Lease Obligation was RM9.9 Mil.
Net Income was RM7.5 Mil.
Gross Profit was RM0.0 Mil.
Cash Flow from Operations was RM-7.7 Mil.

Total Receivables was RM33.8 Mil.
Revenue was RM219.9 Mil.
Gross Profit was RM136.6 Mil.
Total Current Assets was RM439.3 Mil.
Total Assets was RM775.3 Mil.
Property, Plant and Equipment(Net PPE) was RM168.1 Mil.
Depreciation, Depletion and Amortization(DDA) was RM15.8 Mil.
Selling, General, & Admin. Expense(SGA) was RM140.2 Mil.
Total Current Liabilities was RM111.6 Mil.
Long-Term Debt & Capital Lease Obligation was RM11.5 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)
	=	(35.523 / 220.008)	/	(33.754 / 219.938)
	=	0.161462	/	0.153471
	=	1.0521

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)
	=	(136.645 / 219.938)	/	(128.319 / 220.008)
	=	0.621289	/	0.583247
	=	1.0652

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 - (450.649 + 119.658) / 773.503)	/	(1 - (439.349 + 168.1) / 775.338)
	=	0.262696	/	0.216537
	=	1.2132

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
	=	220.008	/	219.938
	=	1.0003

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))
	=	(15.753 / (15.753 + 168.1))	/	(15.805 / (15.805 + 119.658))
	=	0.085683	/	0.116674
	=	0.7344

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)
	=	(143.485 / 220.008)	/	(140.172 / 219.938)
	=	0.652181	/	0.637325
	=	1.0233

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)
	=	((9.883 + 111.017) / 773.503)	/	((11.534 + 111.6) / 775.338)
	=	0.156302	/	0.158813
	=	0.9842

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
	=	(7.49 - 0	-	-7.718)	/	773.503
	=	0.019661

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.

Star Media Group Bhd has a M-score of -2.25 suggests that the company is unlikely to be a manipulator.

Star Media Group Bhd Beneish M-Score Related Terms

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Star Media Group Bhd Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » Star Media Group Bhd (XKLS:6084) » Definitions » Beneish M-Score

Traded in Other Exchanges

N/A

Address

Jalan 16/11, Level 15, Menara Star 15, Petaling Jaya, SGR, MYS, 46350

Website

https://www.starmediagroup.my

Star Media Group Bhd publishes, prints, and distributes newspapers and advertisements in print and electronic media. The company operates in three reportable segments: Print, digital and events which is engaged in the publication and distribution of newspapers, magazines, and electronic media and online portal and provision of event organizing management; Broadcasting which operates wireless broadcasting stations; and the Property development and investment segment which develops commercial properties and invests in real estate. The majority of the company's revenue is generated from the Print, digital and events segment. Geographically, the company derives its key revenue from Malaysia and the rest from Singapore, Ireland, Indonesia, Dubai, the United States of America, and other regions.

Star Media Group Bhd Headlines

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