Kingsoft Cloud Holdings Beneish M-Score Historical Data
The historical data trend for Kingsoft Cloud Holdings'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.
Kingsoft Cloud Holdings Beneish M-Score Chart
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Kingsoft Cloud Holdings Annual Data
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Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
-2.57 |
6.63 |
-3.52 |
-3.48 |
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Kingsoft Cloud Holdings Quarterly Data
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Jun19 |
Sep19 |
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Mar20 |
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Mar21 |
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Mar23 |
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Mar24 |
| Beneish M-Score |
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-3.94 |
-3.90 |
-3.64 |
-3.48 |
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Competitive Comparison of Kingsoft Cloud Holdings's Beneish M-Score
For the Software - Application subindustry, Kingsoft Cloud Holdings'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.
Kingsoft Cloud Holdings's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, Kingsoft Cloud Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Kingsoft Cloud Holdings's Beneish M-Score falls into.
Kingsoft Cloud Holdings 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 Kingsoft Cloud Holdings 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 * 0.9548 | + | 0.528 * 0.5045 | + | 0.404 * 1.1363 | + | 0.892 * 0.8461 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9305 | + | 4.679 * -0.076515 | - | 0.327 * 1.1403 |
| = | -3.26 |
* 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 HK$2,337 Mil.
Revenue was 1928.928 + 1883.979 + 1743.37 + 2007.528 = HK$7,564 Mil.
Gross Profit was 318.561 + 276.877 + 210.508 + 225.982 = HK$1,032 Mil.
Total Current Assets was HK$6,777 Mil.
Total Assets was HK$17,329 Mil.
Property, Plant and Equipment(Net PPE) was HK$3,578 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$0 Mil.
Selling, General, & Admin. Expense(SGA) was HK$1,245 Mil.
Total Current Liabilities was HK$7,642 Mil.
Long-Term Debt & Capital Lease Obligation was HK$306 Mil.
Net Income was -390.428 + -310.795 + -842.996 + -546.174 = HK$-2,090 Mil.
Non Operating Income was -67.496 + -10.684 + -459.075 + 10.383 = HK$-527 Mil.
Cash Flow from Operations was -349.068 + -278.555 + 21.853 + 368.185 = HK$-238 Mil.
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Total Receivables was HK$2,893 Mil.
Revenue was 2123.542 + 2379.734 + 2201.552 + 2234.793 = HK$8,940 Mil.
Gross Profit was 221.176 + 180.86 + 136.892 + 76.432 = HK$615 Mil.
Total Current Assets was HK$9,926 Mil.
Total Assets was HK$18,859 Mil.
Property, Plant and Equipment(Net PPE) was HK$2,253 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$341 Mil.
Selling, General, & Admin. Expense(SGA) was HK$1,582 Mil.
Total Current Liabilities was HK$7,455 Mil.
Long-Term Debt & Capital Lease Obligation was HK$130 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) |
| = | (2337.313 / 7563.805) | / | (2893.103 / 8939.621) |
| = | 0.309013 | / | 0.323627 |
| | = | 0.9548 |
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) |
| = | (615.36 / 8939.621) | / | (1031.928 / 7563.805) |
| = | 0.068835 | / | 0.13643 |
| | = | 0.5045 |
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 - (6776.555 + 3577.891) / 17329.202) | / | (1 - (9925.547 + 2253.49) / 18858.633) |
| = | 0.402486 | / | 0.354193 |
| | = | 1.1363 |
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 |
| = | 7563.805 | / | 8939.621 |
| | = | 0.8461 |
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)) |
| = | (340.824 / (340.824 + 2253.49)) | / | (0 / (0 + 3577.891)) |
| = | 0.131373 | / | 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) |
| = | (1245.161 / 7563.805) | / | (1581.557 / 8939.621) |
| = | 0.164621 | / | 0.176915 |
| | = | 0.9305 |
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) |
| = | ((305.872 + 7642.34) / 17329.202) | / | ((130.367 + 7455.361) / 18858.633) |
| = | 0.45866 | / | 0.402242 |
| | = | 1.1403 |
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 |
| = | (-2090.393 - -526.872 | - | -237.585) | / | 17329.202 |
| | = | -0.076515 |
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.
Kingsoft Cloud Holdings has a M-score of -3.26 suggests that the company is unlikely to be a manipulator.
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