PT Jhonlin Agro Raya Tbk Beneish M-Score Historical Data
The historical data trend for PT Jhonlin Agro Raya Tbk'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.
PT Jhonlin Agro Raya Tbk Beneish M-Score Chart
|
PT Jhonlin Agro Raya Tbk Annual Data
|
|
Trend |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
- |
- |
- |
4.78 |
-2.35 |
|
PT Jhonlin Agro Raya Tbk Quarterly Data
|
|
Dec19 |
Dec20 |
Mar21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
-2.73 |
- |
-3.24 |
-2.35 |
-2.71 |
Competitive Comparison of PT Jhonlin Agro Raya Tbk's Beneish M-Score
For the Farm Products subindustry, PT Jhonlin Agro Raya Tbk'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.
PT Jhonlin Agro Raya Tbk's Beneish M-Score Distribution in the Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, PT Jhonlin Agro Raya Tbk's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where PT Jhonlin Agro Raya Tbk's Beneish M-Score falls into.
PT Jhonlin Agro Raya Tbk 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 PT Jhonlin Agro Raya Tbk 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 * 1.1881 | + | 0.528 * 0.7719 | + | 0.404 * 1.1613 | + | 0.892 * 0.9603 | + | 0.115 * 0.9915 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1451 | + | 4.679 * -0.063994 | - | 0.327 * 0.974 |
| = | -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 Rp405,876 Mil.
Revenue was 826998.281 + 1346784.353 + 1104954.909 + 938355.848 = Rp4,217,093 Mil.
Gross Profit was 65261.559 + 220375.735 + 66940.189 + 27730.748 = Rp380,308 Mil.
Total Current Assets was Rp1,321,320 Mil.
Total Assets was Rp3,611,401 Mil.
Property, Plant and Equipment(Net PPE) was Rp1,924,124 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp4,753 Mil.
Selling, General, & Admin. Expense(SGA) was Rp52,675 Mil.
Total Current Liabilities was Rp311,787 Mil.
Long-Term Debt & Capital Lease Obligation was Rp1,819,122 Mil.
Net Income was 30130.96 + 29637.535 + 26409.646 + -162.389 = Rp86,016 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = Rp0 Mil.
Cash Flow from Operations was 82340.573 + -2825.295 + 214661.158 + 22948.386 = Rp317,125 Mil.
|
Total Receivables was Rp355,755 Mil.
Revenue was 1052184.539 + 1213781.819 + 899290.311 + 1226207.673 = Rp4,391,464 Mil.
Gross Profit was 70207.448 + 235670.986 + -125165.228 + 124978.173 = Rp305,691 Mil.
Total Current Assets was Rp1,345,447 Mil.
Total Assets was Rp2,988,328 Mil.
Property, Plant and Equipment(Net PPE) was Rp1,382,127 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp3,385 Mil.
Selling, General, & Admin. Expense(SGA) was Rp47,903 Mil.
Total Current Liabilities was Rp579,711 Mil.
Long-Term Debt & Capital Lease Obligation was Rp1,230,663 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) |
| = | (405876.1 / 4217093.391) | / | (355754.692 / 4391464.342) |
| = | 0.096245 | / | 0.08101 |
| | = | 1.1881 |
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) |
| = | (305691.379 / 4391464.342) | / | (380308.231 / 4217093.391) |
| = | 0.06961 | / | 0.090183 |
| | = | 0.7719 |
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 - (1321320.054 + 1924124.447) / 3611400.581) | / | (1 - (1345446.926 + 1382126.982) / 2988328.073) |
| = | 0.101334 | / | 0.087258 |
| | = | 1.1613 |
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 |
| = | 4217093.391 | / | 4391464.342 |
| | = | 0.9603 |
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)) |
| = | (3385.187 / (3385.187 + 1382126.982)) | / | (4752.596 / (4752.596 + 1924124.447)) |
| = | 0.002443 | / | 0.002464 |
| | = | 0.9915 |
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) |
| = | (52675.209 / 4217093.391) | / | (47903.132 / 4391464.342) |
| = | 0.012491 | / | 0.010908 |
| | = | 1.1451 |
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) |
| = | ((1819122.448 + 311786.613) / 3611400.581) | / | ((1230663.044 + 579711.473) / 2988328.073) |
| = | 0.590051 | / | 0.605815 |
| | = | 0.974 |
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 |
| = | (86015.752 - 0 | - | 317124.822) | / | 3611400.581 |
| | = | -0.063994 |
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.
PT Jhonlin Agro Raya Tbk has a M-score of -2.71 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
ISX:JARR has been successfully added to your