Amoy Diagnostics Co Beneish M-Score Historical Data
The historical data trend for Amoy Diagnostics 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.
Amoy Diagnostics Co Beneish M-Score Chart
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Amoy Diagnostics Co Annual Data
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Trend |
Dec14 |
Dec15 |
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Dec17 |
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Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.79 |
-2.31 |
-1.90 |
-1.93 |
-2.67 |
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Amoy Diagnostics Co Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
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Sep21 |
Dec21 |
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Mar23 |
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Dec23 |
Mar24 |
| Beneish M-Score |
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-2.11 |
-2.14 |
-2.64 |
-2.67 |
-2.71 |
Competitive Comparison of Amoy Diagnostics Co's Beneish M-Score
For the Diagnostics & Research subindustry, Amoy Diagnostics 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.
Amoy Diagnostics Co's Beneish M-Score Distribution in the Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, Amoy Diagnostics Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Amoy Diagnostics Co's Beneish M-Score falls into.
Amoy Diagnostics 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 Amoy Diagnostics 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 * 0.8824 | + | 0.528 * 0.9823 | + | 0.404 * 0.6095 | + | 0.892 * 1.3011 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8805 | + | 4.679 * -0.021966 | - | 0.327 * 1.4446 |
| = | -2.71 |
* 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 ¥522 Mil.
Revenue was 233.289 + 335.915 + 248.885 + 263.542 = ¥1,082 Mil.
Gross Profit was 197.031 + 284.652 + 208.008 + 219.87 = ¥910 Mil.
Total Current Assets was ¥1,668 Mil.
Total Assets was ¥1,974 Mil.
Property, Plant and Equipment(Net PPE) was ¥191 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥388 Mil.
Total Current Liabilities was ¥147 Mil.
Long-Term Debt & Capital Lease Obligation was ¥46 Mil.
Net Income was 64.199 + 87.751 + 46.972 + 69.444 = ¥268 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was 80.578 + 83.466 + 72.271 + 75.42 = ¥312 Mil.
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Total Receivables was ¥454 Mil.
Revenue was 195.164 + 242.921 + 206.751 + 186.458 = ¥831 Mil.
Gross Profit was 163.683 + 195.538 + 172.494 + 154.976 = ¥687 Mil.
Total Current Assets was ¥1,306 Mil.
Total Assets was ¥1,671 Mil.
Property, Plant and Equipment(Net PPE) was ¥205 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥339 Mil.
Total Current Liabilities was ¥65 Mil.
Long-Term Debt & Capital Lease Obligation was ¥48 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) |
| = | (521.711 / 1081.631) | / | (454.416 / 831.294) |
| = | 0.482337 | / | 0.546637 |
| | = | 0.8824 |
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) |
| = | (686.691 / 831.294) | / | (909.561 / 1081.631) |
| = | 0.826051 | / | 0.840916 |
| | = | 0.9823 |
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 - (1667.794 + 190.95) / 1974.358) | / | (1 - (1306.2 + 204.636) / 1671.422) |
| = | 0.058558 | / | 0.096077 |
| | = | 0.6095 |
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 |
| = | 1081.631 | / | 831.294 |
| | = | 1.3011 |
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)) |
| = | (0 / (0 + 204.636)) | / | (0 / (0 + 190.95)) |
| = | 0 | / | 0 |
| | = | 1 |
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) |
| = | (388.135 / 1081.631) | / | (338.807 / 831.294) |
| = | 0.358842 | / | 0.407566 |
| | = | 0.8805 |
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) |
| = | ((45.738 + 147.358) / 1974.358) | / | ((48.374 + 64.783) / 1671.422) |
| = | 0.097802 | / | 0.067701 |
| | = | 1.4446 |
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 |
| = | (268.366 - 0 | - | 311.735) | / | 1974.358 |
| | = | -0.021966 |
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.
Amoy Diagnostics Co has a M-score of -2.71 suggests that the company is unlikely to be a manipulator.
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