Shanxi Coking Co Beneish M-Score Historical Data
The historical data trend for Shanxi Coking Co'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.
Shanxi Coking Co Beneish M-Score Chart
|
Shanxi Coking Co Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-6.21 |
-1.99 |
-3.35 |
-3.91 |
-3.30 |
|
Shanxi Coking Co 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-3.43 |
-2.68 |
-1.55 |
-3.30 |
-2.05 |
Competitive Comparison of Shanxi Coking Co's Beneish M-Score
For the Coking Coal subindustry, Shanxi Coking Co'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.
Shanxi Coking Co's Beneish M-Score Distribution in the Steel Industry
For the Steel industry and Basic Materials sector, Shanxi Coking Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Shanxi Coking Co's Beneish M-Score falls into.
Shanxi Coking Co 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 Shanxi Coking Co 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 * 1.6381 | + | 0.528 * 0.2245 | + | 0.404 * 1.0734 | + | 0.892 * 0.7093 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.5403 | + | 4.679 * 0.128439 | - | 0.327 * 1.0811 |
| = | -2.05 |
* 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 ¥95 Mil.
Revenue was 1821.237 + 2232.397 + 2060.694 + 1989.096 = ¥8,103 Mil.
Gross Profit was -418.45 + -341.639 + -109.317 + -323.569 = ¥-1,193 Mil.
Total Current Assets was ¥2,069 Mil.
Total Assets was ¥25,847 Mil.
Property, Plant and Equipment(Net PPE) was ¥5,143 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥115 Mil.
Total Current Liabilities was ¥7,079 Mil.
Long-Term Debt & Capital Lease Obligation was ¥3,185 Mil.
Net Income was 65.825 + -5.344 + 364.457 + 153.521 = ¥578 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was -1037.024 + -658.844 + -873.713 + -171.734 = ¥-2,741 Mil.
|
Total Receivables was ¥82 Mil.
Revenue was 2467.16 + 2674.724 + 2838.382 + 3444.455 = ¥11,425 Mil.
Gross Profit was -182.008 + -205.103 + -134.201 + 143.659 = ¥-378 Mil.
Total Current Assets was ¥3,097 Mil.
Total Assets was ¥24,562 Mil.
Property, Plant and Equipment(Net PPE) was ¥4,968 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥105 Mil.
Total Current Liabilities was ¥6,806 Mil.
Long-Term Debt & Capital Lease Obligation was ¥2,216 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) |
| = | (94.95 / 8103.424) | / | (81.72 / 11424.721) |
| = | 0.011717 | / | 0.007153 |
| | = | 1.6381 |
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) |
| = | (-377.653 / 11424.721) | / | (-1192.975 / 8103.424) |
| = | -0.033056 | / | -0.147219 |
| | = | 0.2245 |
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 - (2068.778 + 5143.179) / 25847.048) | / | (1 - (3096.646 + 4968.286) / 24561.86) |
| = | 0.720976 | / | 0.671648 |
| | = | 1.0734 |
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 |
| = | 8103.424 | / | 11424.721 |
| | = | 0.7093 |
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)) |
| = | (0 / (0 + 4968.286)) | / | (0 / (0 + 5143.179)) |
| = | 0 | / | 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) |
| = | (115.093 / 8103.424) | / | (105.342 / 11424.721) |
| = | 0.014203 | / | 0.009221 |
| | = | 1.5403 |
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) |
| = | ((3184.7 + 7079.236) / 25847.048) | / | ((2216 + 6805.639) / 24561.86) |
| = | 0.397103 | / | 0.367303 |
| | = | 1.0811 |
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 |
| = | (578.459 - 0 | - | -2741.315) | / | 25847.048 |
| | = | 0.128439 |
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.
Shanxi Coking Co has a M-score of -2.05 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
SHSE:600740 has been successfully added to your