Mega-info Media Co Beneish M-Score Historical Data
The historical data trend for Mega-info Media 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.
Mega-info Media Co Beneish M-Score Chart
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Mega-info Media Co Annual Data
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Trend |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
-3.62 |
-2.44 |
-2.34 |
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Mega-info Media Co Quarterly Data
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Dec17 |
Dec18 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-2.29 |
-1.60 |
-1.84 |
-2.34 |
-2.46 |
Competitive Comparison of Mega-info Media Co's Beneish M-Score
For the Advertising Agencies subindustry, Mega-info Media 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.
Mega-info Media Co's Beneish M-Score Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Mega-info Media Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Mega-info Media Co's Beneish M-Score falls into.
Mega-info Media 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 Mega-info Media 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 * 1.0016 | + | 0.528 * 1.2724 | + | 0.404 * 1.7401 | + | 0.892 * 1.1135 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9906 | + | 4.679 * -0.079387 | - | 0.327 * 1.471 |
| = | -2.46 |
* 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 ¥435.0 Mil.
Revenue was 177.334 + 164.148 + 178.057 + 104.054 = ¥623.6 Mil.
Gross Profit was 66.369 + 59.392 + 86.041 + 28.386 = ¥240.2 Mil.
Total Current Assets was ¥2,959.8 Mil.
Total Assets was ¥4,691.0 Mil.
Property, Plant and Equipment(Net PPE) was ¥1,711.7 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0.0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥124.5 Mil.
Total Current Liabilities was ¥454.7 Mil.
Long-Term Debt & Capital Lease Obligation was ¥1,190.9 Mil.
Net Income was 38.445 + 13.679 + 51.614 + 5.921 = ¥109.7 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0.0 Mil.
Cash Flow from Operations was 119.195 + 138.159 + 113.104 + 111.603 = ¥482.1 Mil.
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Total Receivables was ¥390.1 Mil.
Revenue was 150.981 + 158.35 + 154.772 + 95.929 = ¥560.0 Mil.
Gross Profit was 76.723 + 86.393 + 87.103 + 24.238 = ¥274.5 Mil.
Total Current Assets was ¥2,899.6 Mil.
Total Assets was ¥3,909.6 Mil.
Property, Plant and Equipment(Net PPE) was ¥1,000.6 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0.0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥112.9 Mil.
Total Current Liabilities was ¥287.1 Mil.
Long-Term Debt & Capital Lease Obligation was ¥645.3 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) |
| = | (435.03 / 623.593) | / | (390.055 / 560.032) |
| = | 0.697618 | / | 0.696487 |
| | = | 1.0016 |
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) |
| = | (274.457 / 560.032) | / | (240.188 / 623.593) |
| = | 0.490074 | / | 0.385168 |
| | = | 1.2724 |
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 - (2959.77 + 1711.657) / 4690.991) | / | (1 - (2899.62 + 1000.629) / 3909.62) |
| = | 0.004171 | / | 0.002397 |
| | = | 1.7401 |
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 |
| = | 623.593 | / | 560.032 |
| | = | 1.1135 |
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 + 1000.629)) | / | (0 / (0 + 1711.657)) |
| = | 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) |
| = | (124.533 / 623.593) | / | (112.899 / 560.032) |
| = | 0.199702 | / | 0.201594 |
| | = | 0.9906 |
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) |
| = | ((1190.903 + 454.682) / 4690.991) | / | ((645.264 + 287.103) / 3909.62) |
| = | 0.350797 | / | 0.23848 |
| | = | 1.471 |
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 |
| = | (109.659 - 0 | - | 482.061) | / | 4690.991 |
| | = | -0.079387 |
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.
Mega-info Media Co has a M-score of -2.46 suggests that the company is unlikely to be a manipulator.
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