JD Health International Beneish M-Score Historical Data
The historical data trend for JD Health International'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.
JD Health International Beneish M-Score Chart
|
JD Health International Annual Data
|
|
Trend |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
28.72 |
-2.23 |
-2.75 |
-0.52 |
-2.10 |
|
JD Health International Semi-Annual Data
|
|
Dec17 |
Dec18 |
Jun19 |
Dec19 |
Jun20 |
Dec20 |
Jun21 |
Dec21 |
Jun22 |
Dec22 |
Jun23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
-2.75 |
- |
-0.52 |
- |
-2.10 |
Competitive Comparison of JD Health International's Beneish M-Score
For the Medical Care Facilities subindustry, JD Health International'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.
JD Health International's Beneish M-Score Distribution in the Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, JD Health International's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where JD Health International's Beneish M-Score falls into.
JD Health International 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 JD Health International 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 * 0.329 | + | 0.528 * 0.9548 | + | 0.404 * 3.6267 | + | 0.892 * 1.1218 | + | 0.115 * 0.7088 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9341 | + | 4.679 * -0.038311 | - | 0.327 * 0.8502 |
| = | -2.10 |
* 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$786 Mil.
Revenue was HK$58,550 Mil.
Gross Profit was HK$12,978 Mil.
Total Current Assets was HK$52,337 Mil.
Total Assets was HK$70,317 Mil.
Property, Plant and Equipment(Net PPE) was HK$811 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$249 Mil.
Selling, General, & Admin. Expense(SGA) was HK$5,090 Mil.
Total Current Liabilities was HK$15,953 Mil.
Long-Term Debt & Capital Lease Obligation was HK$131 Mil.
Net Income was HK$2,343 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$5,037 Mil.
|
Total Receivables was HK$2,130 Mil.
Revenue was HK$52,191 Mil.
Gross Profit was HK$11,046 Mil.
Total Current Assets was HK$63,035 Mil.
Total Assets was HK$68,429 Mil.
Property, Plant and Equipment(Net PPE) was HK$787 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$157 Mil.
Selling, General, & Admin. Expense(SGA) was HK$4,857 Mil.
Total Current Liabilities was HK$18,265 Mil.
Long-Term Debt & Capital Lease Obligation was HK$144 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) |
| = | (786.384 / 58549.919) | / | (2130.41 / 52190.947) |
| = | 0.013431 | / | 0.04082 |
| | = | 0.329 |
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) |
| = | (11045.993 / 52190.947) | / | (12978.054 / 58549.919) |
| = | 0.211646 | / | 0.221658 |
| | = | 0.9548 |
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 - (52337.2 + 810.93) / 70317.185) | / | (1 - (63035.373 + 786.939) / 68429.258) |
| = | 0.244166 | / | 0.067324 |
| | = | 3.6267 |
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 |
| = | 58549.919 | / | 52190.947 |
| | = | 1.1218 |
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)) |
| = | (157.095 / (157.095 + 786.939)) | / | (248.789 / (248.789 + 810.93)) |
| = | 0.166408 | / | 0.234769 |
| | = | 0.7088 |
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) |
| = | (5089.735 / 58549.919) | / | (4856.92 / 52190.947) |
| = | 0.08693 | / | 0.093061 |
| | = | 0.9341 |
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) |
| = | ((130.631 + 15952.764) / 70317.185) | / | ((143.789 + 18265.158) / 68429.258) |
| = | 0.228726 | / | 0.269022 |
| | = | 0.8502 |
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 |
| = | (2342.7 - 0 | - | 5036.609) | / | 70317.185 |
| | = | -0.038311 |
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.
JD Health International has a M-score of -2.10 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
HKSE:06618 has been successfully added to your