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Apollo Future Mobility Group (STU:U1R1) Beneish M-Score : 0.00 (As of Jun. 02, 2024)


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What is Apollo Future Mobility Group 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 Apollo Future Mobility Group's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Apollo Future Mobility Group was -0.72. The lowest was -5.50. And the median was -2.67.


Apollo Future Mobility Group Beneish M-Score Historical Data

The historical data trend for Apollo Future Mobility Group'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.

* Premium members only.

Apollo Future Mobility Group Beneish M-Score Chart

Apollo Future Mobility Group Annual Data
Trend Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Dec22 Dec23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -3.14 -0.72 -2.52 - -

Apollo Future Mobility Group Semi-Annual Data
Sep13 Mar14 Sep14 Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Jun23 Dec23
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - -2.52 - - -

Competitive Comparison of Apollo Future Mobility Group's Beneish M-Score

For the Luxury Goods subindustry, Apollo Future Mobility Group'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.


Apollo Future Mobility Group's Beneish M-Score Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Apollo Future Mobility Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Apollo Future Mobility Group's Beneish M-Score falls into.



Apollo Future Mobility Group 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 Apollo Future Mobility Group 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Dec23) TTM:Last Year (Dec22) TTM:
Total Receivables was €67.99 Mil.
Revenue was €32.78 Mil.
Gross Profit was €7.42 Mil.
Total Current Assets was €84.46 Mil.
Total Assets was €460.23 Mil.
Property, Plant and Equipment(Net PPE) was €14.28 Mil.
Depreciation, Depletion and Amortization(DDA) was €3.28 Mil.
Selling, General, & Admin. Expense(SGA) was €20.19 Mil.
Total Current Liabilities was €61.62 Mil.
Long-Term Debt & Capital Lease Obligation was €2.14 Mil.
Net Income was €-101.04 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €-3.40 Mil.
Total Receivables was €63.90 Mil.
Revenue was €0.00 Mil.
Gross Profit was €0.00 Mil.
Total Current Assets was €162.54 Mil.
Total Assets was €598.24 Mil.
Property, Plant and Equipment(Net PPE) was €16.51 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.00 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €75.04 Mil.
Long-Term Debt & Capital Lease Obligation was €2.30 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)
=(67.994 / 32.784) / (63.901 / 0)
=2.074 /
=

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)
=(0 / 0) / (7.415 / 32.784)
= / 0.226177
=

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 - (84.462 + 14.277) / 460.234) / (1 - (162.541 + 16.506) / 598.24)
=0.785459 / 0.70071
=

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
=32.784 / 0
=

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 + 16.506)) / (3.279 / (3.279 + 14.277))
=0 / 0.186774
=

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)
=(20.193 / 32.784) / (0 / 0)
=0.615941 /
=

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)
=((2.144 + 61.615) / 460.234) / ((2.304 + 75.042) / 598.24)
=0.138536 / 0.129289
=

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
=(-101.041 - 0 - -3.401) / 460.234
=-0.212153

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.


Apollo Future Mobility Group Beneish M-Score Related Terms

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Apollo Future Mobility Group (STU:U1R1) Business Description

Traded in Other Exchanges
Address
189 Des Voeux Road Central, Sheung Wan, Units 2001-2002, 20th Floor, Li Po Chun Chambers, Hong Kong, HKG
Apollo Future Mobility Group Ltd is an investment holding company. It operates in three segments. The Mobility technology solutions segment engages in designing, developing, manufacturing, and sales high-performance hypercars and provision of mobility technology solutions. Jewellery products and watches segment that derives majority revenue focus on retailing and wholesale of jewellery products and watches. The Money Lending segment provides loan finance. ,Majority revenue is derived from Jewellery products, watches and other commodities segment. Geographically Mainland China accounts for majority revenue.

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