World Super Holdings (HKSE:08612) Beneish M-Score : 0.00 (As of Jun. 05, 2024)

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What is World Super Holdings Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

The historical rank and industry rank for World Super Holdings's Beneish M-Score or its related term are showing as below:

During the past 8 years, the highest Beneish M-Score of World Super Holdings was 0.00. The lowest was 0.00. And the median was 0.00.

World Super Holdings Beneish M-Score Historical Data

The historical data trend for World Super 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.

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World Super Holdings Beneish M-Score Chart

World Super Holdings Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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World Super Holdings Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of World Super Holdings's Beneish M-Score

For the Rental & Leasing Services subindustry, World Super 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.

World Super Holdings's Beneish M-Score Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, World Super Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where World Super Holdings's Beneish M-Score falls into.

World Super 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 World Super Holdings for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was HK$7.66 Mil.
Revenue was HK$23.09 Mil.
Gross Profit was HK$3.60 Mil.
Total Current Assets was HK$21.45 Mil.
Total Assets was HK$50.60 Mil.
Property, Plant and Equipment(Net PPE) was HK$29.15 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$6.18 Mil.
Selling, General, & Admin. Expense(SGA) was HK$21.12 Mil.
Total Current Liabilities was HK$10.47 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.44 Mil.
Net Income was HK$-36.73 Mil.
Gross Profit was HK$0.00 Mil.
Cash Flow from Operations was HK$-15.75 Mil.

Total Receivables was HK$15.94 Mil.
Revenue was HK$16.34 Mil.
Gross Profit was HK$5.08 Mil.
Total Current Assets was HK$30.57 Mil.
Total Assets was HK$102.10 Mil.
Property, Plant and Equipment(Net PPE) was HK$71.53 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$8.75 Mil.
Selling, General, & Admin. Expense(SGA) was HK$15.73 Mil.
Total Current Liabilities was HK$23.52 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.00 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)
	=	(7.656 / 23.088)	/	(15.936 / 16.342)
	=	0.331601	/	0.975156
	=

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)
	=	(5.081 / 16.342)	/	(3.602 / 23.088)
	=	0.310917	/	0.156012
	=

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 - (21.454 + 29.146) / 50.6)	/	(1 - (30.568 + 71.531) / 102.099)
	=	0	/	0
	=

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
	=	23.088	/	16.342
	=

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))
	=	(8.751 / (8.751 + 71.531))	/	(6.182 / (6.182 + 29.146))
	=	0.109003	/	0.174989
	=

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)
	=	(21.124 / 23.088)	/	(15.729 / 16.342)
	=	0.914934	/	0.962489
	=

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)
	=	((0.437 + 10.47) / 50.6)	/	((0 + 23.519) / 102.099)
	=	0.215553	/	0.230355
	=

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
	=	(-36.727 - 0	-	-15.748)	/	50.6
	=	-0.414605

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.

World Super Holdings Beneish M-Score Related Terms

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World Super Holdings (HKSE:08612) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » World Super Holdings Ltd (HKSE:08612) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

183 Electric Road, Unit 3403, 34th Floor, AIA Tower, North Point, Hong Kong, HKG

Website

http://www.worldsuperhk.com

World Super Holdings Ltd is an investment holding company mainly engaged in plant hire services. The Company operates its business through different segments. The Plant Hire segment mainly engages in the provision of rental services of crawler cranes, oscillators, reverse circulation drills (RCDs), and hydro mill trench cutters for construction projects. The Trading of Machinery, Tool, and Part segment mainly engages in the trading of new or used crawler cranes, RCDs, trench cutters, oscillators, and related spare parts. The Transportation and Other Service segment mainly engages in the provision of transportation services in delivering the machinery to and from customers' designated sites and other services.

Executives

Chiu Man Chi Vivi	2101 Beneficial owner
Li Haidong	2101 Beneficial owner
Chu Wing Yee	2201 Interest of corporation controlled by you
Bao Han Holdings Limited	2101 Beneficial owner
Sou Peng Kan Albert	2201 Interest of corporation controlled by you
Wen Qingrui	2101 Beneficial owner

World Super Holdings (HKSE:08612) Headlines

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