Xi'an Tourism Co Beneish M-Score Historical Data
The historical data trend for Xi'an Tourism 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.
Xi'an Tourism Co Beneish M-Score Chart
|
Xi'an Tourism Co Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.93 |
-1.77 |
-1.36 |
-1.85 |
-4.58 |
|
Xi'an Tourism 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.57 |
-2.75 |
-0.50 |
-4.58 |
-4.33 |
Competitive Comparison of Xi'an Tourism Co's Beneish M-Score
For the Lodging subindustry, Xi'an Tourism 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.
Xi'an Tourism Co's Beneish M-Score Distribution in the Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Xi'an Tourism Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Xi'an Tourism Co's Beneish M-Score falls into.
Xi'an Tourism 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 Xi'an Tourism 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 * 0.9595 | + | 0.528 * -2.1591 | + | 0.404 * 1.1976 | + | 0.892 * 1.1898 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.3951 | + | 4.679 * -0.066737 | - | 0.327 * 1.0402 |
| = | -4.33 |
* 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 ¥183.9 Mil.
Revenue was 130.709 + 16.806 + 252.764 + 141.053 = ¥541.3 Mil.
Gross Profit was 3.382 + -10.013 + 22.885 + 10.907 = ¥27.2 Mil.
Total Current Assets was ¥790.2 Mil.
Total Assets was ¥2,277.2 Mil.
Property, Plant and Equipment(Net PPE) was ¥939.1 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0.0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥67.6 Mil.
Total Current Liabilities was ¥1,060.2 Mil.
Long-Term Debt & Capital Lease Obligation was ¥629.4 Mil.
Net Income was -30.115 + -89.395 + -14.277 + -20.846 = ¥-154.6 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0.0 Mil.
Cash Flow from Operations was -18.598 + -34.847 + 34.811 + 15.976 = ¥-2.7 Mil.
|
Total Receivables was ¥161.1 Mil.
Revenue was 139.2 + 14.377 + 145.34 + 156.063 = ¥455.0 Mil.
Gross Profit was -1.579 + -39.53 + 0.803 + -8.983 = ¥-49.3 Mil.
Total Current Assets was ¥992.1 Mil.
Total Assets was ¥2,236.1 Mil.
Property, Plant and Equipment(Net PPE) was ¥794.8 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0.0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥40.7 Mil.
Total Current Liabilities was ¥1,133.0 Mil.
Long-Term Debt & Capital Lease Obligation was ¥462.0 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) |
| = | (183.892 / 541.332) | / | (161.089 / 454.98) |
| = | 0.339703 | / | 0.354057 |
| | = | 0.9595 |
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) |
| = | (-49.289 / 454.98) | / | (27.161 / 541.332) |
| = | -0.108332 | / | 0.050174 |
| | = | -2.1591 |
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 - (790.249 + 939.13) / 2277.212) | / | (1 - (992.116 + 794.833) / 2236.142) |
| = | 0.240572 | / | 0.200879 |
| | = | 1.1976 |
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 |
| = | 541.332 | / | 454.98 |
| | = | 1.1898 |
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 + 794.833)) | / | (0 / (0 + 939.13)) |
| = | 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) |
| = | (67.562 / 541.332) | / | (40.702 / 454.98) |
| = | 0.124807 | / | 0.089459 |
| | = | 1.3951 |
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) |
| = | ((629.378 + 1060.209) / 2277.212) | / | ((462.047 + 1132.981) / 2236.142) |
| = | 0.741954 | / | 0.713295 |
| | = | 1.0402 |
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 |
| = | (-154.633 - 0 | - | -2.658) | / | 2277.212 |
| | = | -0.066737 |
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.
Xi'an Tourism Co has a M-score of -4.33 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
SZSE:000610 has been successfully added to your