Yunda Holding Co Beneish M-Score Historical Data
The historical data trend for Yunda Holding 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.
Yunda Holding Co Beneish M-Score Chart
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Yunda Holding Co Annual Data
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Trend |
Dec14 |
Dec15 |
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Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-1.44 |
-2.47 |
-2.21 |
-3.00 |
-2.72 |
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Yunda Holding Co Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
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Sep21 |
Dec21 |
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Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-2.77 |
-2.84 |
-2.86 |
-2.72 |
-2.84 |
Competitive Comparison of Yunda Holding Co's Beneish M-Score
For the Integrated Freight & Logistics subindustry, Yunda Holding 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.
Yunda Holding Co's Beneish M-Score Distribution in the Transportation Industry
For the Transportation industry and Industrials sector, Yunda Holding Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Yunda Holding Co's Beneish M-Score falls into.
Yunda Holding 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 Yunda Holding 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 * 0.8393 | + | 0.528 * 0.9579 | + | 0.404 * 1.1278 | + | 0.892 * 0.9852 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9483 | + | 4.679 * -0.05779 | - | 0.327 * 0.8925 |
| = | -2.84 |
* 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 ¥1,687 Mil.
Revenue was 11155.512 + 12147.199 + 11261.168 + 11099.552 = ¥45,663 Mil.
Gross Profit was 1151.862 + 965.906 + 972.096 + 1252.522 = ¥4,342 Mil.
Total Current Assets was ¥13,612 Mil.
Total Assets was ¥37,731 Mil.
Property, Plant and Equipment(Net PPE) was ¥15,634 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥599 Mil.
Total Current Liabilities was ¥9,634 Mil.
Long-Term Debt & Capital Lease Obligation was ¥7,763 Mil.
Net Income was 412.474 + 460.869 + 295.57 + 510.077 = ¥1,679 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was 510.746 + 1868.465 + 367.033 + 1113.231 = ¥3,859 Mil.
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Total Receivables was ¥2,041 Mil.
Revenue was 10474.592 + 12188.128 + 12395.781 + 11291.361 = ¥46,350 Mil.
Gross Profit was 1106.772 + 1415.63 + 936.298 + 763.294 = ¥4,222 Mil.
Total Current Assets was ¥12,282 Mil.
Total Assets was ¥37,306 Mil.
Property, Plant and Equipment(Net PPE) was ¥17,584 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥642 Mil.
Total Current Liabilities was ¥12,440 Mil.
Long-Term Debt & Capital Lease Obligation was ¥6,833 Mil.
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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) |
| = | (1687.46 / 45663.431) | / | (2040.715 / 46349.862) |
| = | 0.036954 | / | 0.044029 |
| | = | 0.8393 |
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) |
| = | (4221.994 / 46349.862) | / | (4342.386 / 45663.431) |
| = | 0.09109 | / | 0.095095 |
| | = | 0.9579 |
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 - (13611.73 + 15634.223) / 37731.43) | / | (1 - (12282.495 + 17584.165) / 37305.832) |
| = | 0.224891 | / | 0.19941 |
| | = | 1.1278 |
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 |
| = | 45663.431 | / | 46349.862 |
| | = | 0.9852 |
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 + 17584.165)) | / | (0 / (0 + 15634.223)) |
| = | 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) |
| = | (599.44 / 45663.431) | / | (641.584 / 46349.862) |
| = | 0.013127 | / | 0.013842 |
| | = | 0.9483 |
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) |
| = | ((7763.412 + 9633.944) / 37731.43) | / | ((6833.345 + 12440.388) / 37305.832) |
| = | 0.461084 | / | 0.516641 |
| | = | 0.8925 |
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 |
| = | (1678.99 - 0 | - | 3859.475) | / | 37731.43 |
| | = | -0.05779 |
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.
Yunda Holding Co has a M-score of -2.84 suggests that the company is unlikely to be a manipulator.
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