BOC Aviation Beneish M-Score Historical Data
The historical data trend for BOC Aviation'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.
BOC Aviation Beneish M-Score Chart
|
BOC Aviation Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
8.97 |
8.44 |
-2.50 |
-2.85 |
-0.96 |
|
BOC Aviation Semi-Annual Data
|
|
Dec13 |
Dec14 |
Jun15 |
Dec15 |
Jun16 |
Dec16 |
Jun17 |
Dec17 |
Jun18 |
Dec18 |
Jun19 |
Dec19 |
Jun20 |
Dec20 |
Jun21 |
Dec21 |
Jun22 |
Dec22 |
Jun23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.50 |
- |
-2.85 |
- |
-0.96 |
Competitive Comparison of BOC Aviation's Beneish M-Score
For the Rental & Leasing Services subindustry, BOC Aviation'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.
BOC Aviation's Beneish M-Score Distribution in the Business Services Industry
For the Business Services industry and Industrials sector, BOC Aviation's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where BOC Aviation's Beneish M-Score falls into.
BOC Aviation 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 BOC Aviation 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 * 1.5743 | + | 0.528 * 1.3777 | + | 0.404 * 3.932 | + | 0.892 * 0.9777 | + | 0.115 * 0.995 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.4594 | + | 4.679 * -0.06286 | - | 0.327 * 0.9957 |
| = | -0.96 |
* 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 HK$2,361 Mil.
Revenue was HK$16,158 Mil.
Gross Profit was HK$4,265 Mil.
Total Current Assets was HK$6,492 Mil.
Total Assets was HK$188,760 Mil.
Property, Plant and Equipment(Net PPE) was HK$162,172 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$6,212 Mil.
Selling, General, & Admin. Expense(SGA) was HK$228 Mil.
Total Current Liabilities was HK$26,567 Mil.
Long-Term Debt & Capital Lease Obligation was HK$104,869 Mil.
Net Income was HK$5,966 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$17,831 Mil.
|
Total Receivables was HK$1,534 Mil.
Revenue was HK$16,527 Mil.
Gross Profit was HK$6,010 Mil.
Total Current Assets was HK$6,580 Mil.
Total Assets was HK$171,834 Mil.
Property, Plant and Equipment(Net PPE) was HK$160,602 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$6,120 Mil.
Selling, General, & Admin. Expense(SGA) was HK$160 Mil.
Total Current Liabilities was HK$21,169 Mil.
Long-Term Debt & Capital Lease Obligation was HK$98,996 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) |
| = | (2360.575 / 16158.195) | / | (1533.677 / 16527.096) |
| = | 0.146092 | / | 0.092798 |
| | = | 1.5743 |
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) |
| = | (6010.103 / 16527.096) | / | (4264.885 / 16158.195) |
| = | 0.363651 | / | 0.263946 |
| | = | 1.3777 |
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 - (6492.029 + 162171.747) / 188759.828) | / | (1 - (6580.282 + 160601.669) / 171834.483) |
| = | 0.106464 | / | 0.027076 |
| | = | 3.932 |
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 |
| = | 16158.195 | / | 16527.096 |
| | = | 0.9777 |
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)) |
| = | (6119.978 / (6119.978 + 160601.669)) | / | (6211.829 / (6211.829 + 162171.747)) |
| = | 0.036708 | / | 0.036891 |
| | = | 0.995 |
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) |
| = | (227.718 / 16158.195) | / | (159.608 / 16527.096) |
| = | 0.014093 | / | 0.009657 |
| | = | 1.4594 |
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) |
| = | ((104868.675 + 26566.55) / 188759.828) | / | ((98996.211 + 21169.094) / 171834.483) |
| = | 0.696309 | / | 0.699308 |
| | = | 0.9957 |
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 |
| = | (5965.922 - 0 | - | 17831.343) | / | 188759.828 |
| | = | -0.06286 |
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.
BOC Aviation has a M-score of -0.96 signals that the company is likely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
HKSE:02588 has been successfully added to your