MGI Tech Co Beneish M-Score Historical Data
The historical data trend for MGI Tech 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.
MGI Tech Co Beneish M-Score Chart
|
MGI Tech Co Annual Data
|
|
Trend |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
- |
- |
-0.40 |
-1.68 |
-2.37 |
|
MGI Tech Co Quarterly Data
|
|
Dec17 |
Dec18 |
Dec19 |
Jun20 |
Sep20 |
Dec20 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
- |
-1.44 |
-1.17 |
-2.37 |
-2.47 |
Competitive Comparison of MGI Tech Co's Beneish M-Score
For the Medical Devices subindustry, MGI Tech 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.
MGI Tech Co's Beneish M-Score Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, MGI Tech Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where MGI Tech Co's Beneish M-Score falls into.
MGI Tech 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 MGI Tech 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 * 1.4556 | + | 0.528 * 0.8271 | + | 0.404 * 1.1526 | + | 0.892 * 0.7777 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.4909 | + | 4.679 * -0.002152 | - | 0.327 * 1.2504 |
| = | -2.47 |
* 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 ¥778 Mil.
Revenue was 530.736 + 707.405 + 760.362 + 824.453 = ¥2,823 Mil.
Gross Profit was 343.935 + 414.49 + 479.304 + 491.344 = ¥1,729 Mil.
Total Current Assets was ¥6,452 Mil.
Total Assets was ¥10,038 Mil.
Property, Plant and Equipment(Net PPE) was ¥2,483 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥1,081 Mil.
Total Current Liabilities was ¥1,310 Mil.
Long-Term Debt & Capital Lease Obligation was ¥250 Mil.
Net Income was -200.986 + -409.724 + -99.749 + 51.79 = ¥-659 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was -218.66 + 21.535 + -184.511 + -255.434 = ¥-637 Mil.
|
Total Receivables was ¥688 Mil.
Revenue was 619.003 + 941.074 + 928.958 + 1140.976 = ¥3,630 Mil.
Gross Profit was 346.081 + 447.42 + 475.737 + 569.824 = ¥1,839 Mil.
Total Current Assets was ¥8,162 Mil.
Total Assets was ¥10,721 Mil.
Property, Plant and Equipment(Net PPE) was ¥1,537 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥933 Mil.
Total Current Liabilities was ¥1,265 Mil.
Long-Term Debt & Capital Lease Obligation was ¥67 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) |
| = | (778.301 / 2822.956) | / | (687.534 / 3630.011) |
| = | 0.275704 | / | 0.189403 |
| | = | 1.4556 |
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) |
| = | (1839.062 / 3630.011) | / | (1729.073 / 2822.956) |
| = | 0.506627 | / | 0.612504 |
| | = | 0.8271 |
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 - (6452.425 + 2483.492) / 10038.331) | / | (1 - (8162.387 + 1537.199) / 10721.112) |
| = | 0.10982 | / | 0.095282 |
| | = | 1.1526 |
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 |
| = | 2822.956 | / | 3630.011 |
| | = | 0.7777 |
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 + 1537.199)) | / | (0 / (0 + 2483.492)) |
| = | 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) |
| = | (1081.281 / 2822.956) | / | (932.567 / 3630.011) |
| = | 0.383031 | / | 0.256905 |
| | = | 1.4909 |
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) |
| = | ((249.554 + 1310.441) / 10038.331) | / | ((67.328 + 1265.149) / 10721.112) |
| = | 0.155404 | / | 0.124285 |
| | = | 1.2504 |
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 |
| = | (-658.669 - 0 | - | -637.07) | / | 10038.331 |
| | = | -0.002152 |
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.
MGI Tech Co has a M-score of -2.47 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
SHSE:688114 has been successfully added to your