Easy Click Worldwide Network Technology Co (SZSE:301171) Beneish M-Score : -2.62 (As of May. 13, 2024)

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What is Easy Click Worldwide Network Technology Co 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.

Good Sign:

Beneish M-Score -2.62 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Easy Click Worldwide Network Technology Co's Beneish M-Score or its related term are showing as below:

SZSE:301171' s Beneish M-Score Range Over the Past 10 Years
Min: -3.66 Med: -2.38 Max: -1.87
Current: -2.62

During the past 13 years, the highest Beneish M-Score of Easy Click Worldwide Network Technology Co was -1.87. The lowest was -3.66. And the median was -2.38.

Easy Click Worldwide Network Technology Co Beneish M-Score Historical Data

The historical data trend for Easy Click Worldwide Network Technology 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.

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Easy Click Worldwide Network Technology Co Beneish M-Score Chart

Easy Click Worldwide Network Technology Co Annual Data

Trend

Dec13

Dec14

Dec15

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-3.66

-2.04

-2.38

Easy Click Worldwide Network Technology Co Quarterly Data
	Dec17	Dec18	Sep19	Dec19	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															-1.87	-2.77	-2.27	-2.38	-2.62

Competitive Comparison of Easy Click Worldwide Network Technology Co's Beneish M-Score

For the Advertising Agencies subindustry, Easy Click Worldwide Network Technology 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.

Easy Click Worldwide Network Technology Co's Beneish M-Score Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Easy Click Worldwide Network Technology Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Easy Click Worldwide Network Technology Co's Beneish M-Score falls into.

Easy Click Worldwide Network Technology 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 Easy Click Worldwide Network Technology Co for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.8308

0.528 * 0.8204

0.404 * 1.3757

0.892 * 1.0817

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1476

4.679 * -0.006409

0.327 * 1.1733

-2.62

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was ¥1,995 Mil.
Revenue was 480.952 + 559.812 + 585.51 + 524.909 = ¥2,151 Mil.
Gross Profit was 124.493 + 138.373 + 144.251 + 133.869 = ¥541 Mil.
Total Current Assets was ¥4,950 Mil.
Total Assets was ¥5,370 Mil.
Property, Plant and Equipment(Net PPE) was ¥86 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥109 Mil.
Total Current Liabilities was ¥1,818 Mil.
Long-Term Debt & Capital Lease Obligation was ¥76 Mil.
Net Income was 50.094 + 36.249 + 61.365 + 78.104 = ¥226 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was 17.573 + 130.453 + 40.697 + 71.505 = ¥260 Mil.

Total Receivables was ¥2,220 Mil.
Revenue was 473.09 + 437.648 + 554.293 + 523.678 = ¥1,989 Mil.
Gross Profit was 105.537 + 55.985 + 115.412 + 133.363 = ¥410 Mil.
Total Current Assets was ¥4,312 Mil.
Total Assets was ¥4,625 Mil.
Property, Plant and Equipment(Net PPE) was ¥103 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥5 Mil.
Selling, General, & Admin. Expense(SGA) was ¥88 Mil.
Total Current Liabilities was ¥1,290 Mil.
Long-Term Debt & Capital Lease Obligation was ¥100 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)
	=	(1995.349 / 2151.183)	/	(2220.314 / 1988.709)
	=	0.927559	/	1.11646
	=	0.8308

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)
	=	(410.297 / 1988.709)	/	(540.986 / 2151.183)
	=	0.206313	/	0.251483
	=	0.8204

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 - (4950.153 + 86.02) / 5370.13)	/	(1 - (4311.979 + 103.482) / 4624.51)
	=	0.062188	/	0.045205
	=	1.3757

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
	=	2151.183	/	1988.709
	=	1.0817

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))
	=	(5.284 / (5.284 + 103.482))	/	(0 / (0 + 86.02))
	=	0.048581	/	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)
	=	(109.441 / 2151.183)	/	(88.166 / 1988.709)
	=	0.050875	/	0.044333
	=	1.1476

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)
	=	((76.012 + 1817.778) / 5370.13)	/	((100.265 + 1289.666) / 4624.51)
	=	0.352653	/	0.300557
	=	1.1733

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
	=	(225.812 - 0	-	260.228)	/	5370.13
	=	-0.006409

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.

Easy Click Worldwide Network Technology Co has a M-score of -2.62 suggests that the company is unlikely to be a manipulator.

Easy Click Worldwide Network Technology Co Beneish M-Score Related Terms

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Easy Click Worldwide Network Technology Co (SZSE:301171) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » Easy Click Worldwide Network Technology Co Ltd (SZSE:301171) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

No. 156, Tiangu Eighth Road, Room 903, Building C3, Phase II, Software New Town R&D Base, High-tech Zone, Shaanxi Province, Xi'an City, CHN, 710077

Website

https://en.yeahmobi.com

Easy Click Worldwide Network Technology Co Ltd is committed as a global intelligent data-driven marketing service profession to provide results-driven services included performance marketing, brand building and industrial solutions integrating. The company's clients is involved in wide range industries of E-commerce, tool applications, information dissemination, games and other pan-entertainment applications.

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