Aspeed Technology Beneish M-Score Historical Data
The historical data trend for Aspeed Technology'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.
Aspeed Technology Beneish M-Score Chart
|
Aspeed Technology Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.43 |
-2.79 |
-2.53 |
-2.51 |
-2.00 |
|
Aspeed Technology Quarterly Data
|
|
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-3.36 |
-3.36 |
-2.75 |
-2.00 |
- |
Competitive Comparison of Aspeed Technology's Beneish M-Score
For the Semiconductors subindustry, Aspeed Technology'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.
Aspeed Technology's Beneish M-Score Distribution in the Semiconductors Industry
For the Semiconductors industry and Technology sector, Aspeed Technology's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Aspeed Technology's Beneish M-Score falls into.
Aspeed Technology 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 Aspeed Technology 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 * 1.9499 | + | 0.528 * 1.0149 | + | 0.404 * 1.1996 | + | 0.892 * 0.7349 | + | 0.115 * 0.8963 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.3399 | + | 4.679 * 0.165451 | - | 0.327 * 0.621 |
| = | -0.93 |
* 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 NT$739 Mil.
Revenue was 1013.473 + 984.247 + 796.713 + 680.039 = NT$3,474 Mil.
Gross Profit was 640.916 + 633.213 + 498.395 + 446.316 = NT$2,219 Mil.
Total Current Assets was NT$3,926 Mil.
Total Assets was NT$4,989 Mil.
Property, Plant and Equipment(Net PPE) was NT$198 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$293 Mil.
Selling, General, & Admin. Expense(SGA) was NT$307 Mil.
Total Current Liabilities was NT$1,471 Mil.
Long-Term Debt & Capital Lease Obligation was NT$8 Mil.
Net Income was 391.35 + 309.694 + 270.455 + 240.352 = NT$1,212 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = NT$0 Mil.
Cash Flow from Operations was 453.494 + 122.857 + -143.303 + -46.633 = NT$386 Mil.
|
Total Receivables was NT$516 Mil.
Revenue was 669.396 + 1326.707 + 1306.58 + 1425.332 = NT$4,728 Mil.
Gross Profit was 429.994 + 859.687 + 845.837 + 928.983 = NT$3,065 Mil.
Total Current Assets was NT$4,716 Mil.
Total Assets was NT$5,780 Mil.
Property, Plant and Equipment(Net PPE) was NT$228 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$263 Mil.
Selling, General, & Admin. Expense(SGA) was NT$312 Mil.
Total Current Liabilities was NT$2,750 Mil.
Long-Term Debt & Capital Lease Obligation was NT$9 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) |
| = | (739.488 / 3474.472) | / | (516.072 / 4728.015) |
| = | 0.212835 | / | 0.109152 |
| | = | 1.9499 |
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) |
| = | (3064.501 / 4728.015) | / | (2218.84 / 3474.472) |
| = | 0.648158 | / | 0.638612 |
| | = | 1.0149 |
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 - (3926.463 + 197.997) / 4989.016) | / | (1 - (4716.477 + 228.281) / 5779.659) |
| = | 0.173292 | / | 0.144455 |
| | = | 1.1996 |
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 |
| = | 3474.472 | / | 4728.015 |
| | = | 0.7349 |
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)) |
| = | (262.858 / (262.858 + 228.281)) | / | (293.462 / (293.462 + 197.997)) |
| = | 0.535201 | / | 0.597124 |
| | = | 0.8963 |
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) |
| = | (307.434 / 3474.472) | / | (312.235 / 4728.015) |
| = | 0.088484 | / | 0.066039 |
| | = | 1.3399 |
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) |
| = | ((7.953 + 1471.215) / 4989.016) | / | ((9.473 + 2749.966) / 5779.659) |
| = | 0.296485 | / | 0.47744 |
| | = | 0.621 |
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 |
| = | (1211.851 - 0 | - | 386.415) | / | 4989.016 |
| | = | 0.165451 |
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.
Aspeed Technology has a M-score of -0.93 signals that the company is likely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
ROCO:5274 has been successfully added to your