63 Moons Technologies Beneish M-Score Historical Data
The historical data trend for 63 Moons Technologies'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.
63 Moons Technologies Beneish M-Score Chart
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63 Moons Technologies Annual Data
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| Beneish M-Score |
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-2.31 |
-2.45 |
-2.33 |
-2.55 |
-2.53 |
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63 Moons Technologies Quarterly Data
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Jun19 |
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| Beneish M-Score |
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-2.55 |
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-2.53 |
Competitive Comparison of 63 Moons Technologies's Beneish M-Score
For the Software - Application subindustry, 63 Moons Technologies'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.
63 Moons Technologies's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, 63 Moons Technologies's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where 63 Moons Technologies's Beneish M-Score falls into.
63 Moons Technologies 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 63 Moons Technologies 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 * 0.0894 | + | 0.528 * 0.7329 | + | 0.404 * 1.1834 | + | 0.892 * 1.6286 | + | 0.115 * 0.7947 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.7711 | + | 4.679 * 0.048103 | - | 0.327 * 0.8249 |
| = | -2.53 |
* 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 ₹475 Mil.
Revenue was ₹4,718 Mil.
Gross Profit was ₹2,772 Mil.
Total Current Assets was ₹18,839 Mil.
Total Assets was ₹36,453 Mil.
Property, Plant and Equipment(Net PPE) was ₹2,129 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹303 Mil.
Selling, General, & Admin. Expense(SGA) was ₹892 Mil.
Total Current Liabilities was ₹3,076 Mil.
Long-Term Debt & Capital Lease Obligation was ₹27 Mil.
Net Income was ₹2,225 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹472 Mil.
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Total Receivables was ₹3,259 Mil.
Revenue was ₹2,897 Mil.
Gross Profit was ₹1,247 Mil.
Total Current Assets was ₹20,089 Mil.
Total Assets was ₹34,659 Mil.
Property, Plant and Equipment(Net PPE) was ₹2,129 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹234 Mil.
Selling, General, & Admin. Expense(SGA) was ₹710 Mil.
Total Current Liabilities was ₹3,550 Mil.
Long-Term Debt & Capital Lease Obligation was ₹26 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) |
| = | (474.707 / 4717.626) | / | (3259.226 / 2896.778) |
| = | 0.100624 | / | 1.125121 |
| | = | 0.0894 |
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) |
| = | (1247.454 / 2896.778) | / | (2771.888 / 4717.626) |
| = | 0.430635 | / | 0.58756 |
| | = | 0.7329 |
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 - (18839.142 + 2129.218) / 36453.039) | / | (1 - (20088.62 + 2129.399) / 34658.527) |
| = | 0.424784 | / | 0.358945 |
| | = | 1.1834 |
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 |
| = | 4717.626 | / | 2896.778 |
| | = | 1.6286 |
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)) |
| = | (233.898 / (233.898 + 2129.399)) | / | (302.912 / (302.912 + 2129.218)) |
| = | 0.098971 | / | 0.124546 |
| | = | 0.7947 |
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) |
| = | (891.901 / 4717.626) | / | (710.222 / 2896.778) |
| = | 0.189057 | / | 0.245177 |
| | = | 0.7711 |
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) |
| = | ((26.628 + 3076.397) / 36453.039) | / | ((25.917 + 3550.435) / 34658.527) |
| = | 0.085124 | / | 0.103188 |
| | = | 0.8249 |
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 |
| = | (2225.059 - 0 | - | 471.573) | / | 36453.039 |
| | = | 0.048103 |
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.
63 Moons Technologies has a M-score of -2.53 suggests that the company is unlikely to be a manipulator.
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