Minami Acoustics Beneish M-Score Historical Data
The historical data trend for Minami Acoustics'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.
Minami Acoustics Beneish M-Score Chart
|
Minami Acoustics Annual Data
|
|
Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
- |
- |
- |
- |
-1.75 |
|
Minami Acoustics Quarterly Data
|
|
Dec18 |
Dec19 |
Dec20 |
Jun21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
- |
-1.04 |
- |
-1.75 |
-1.97 |
Competitive Comparison of Minami Acoustics's Beneish M-Score
For the Consumer Electronics subindustry, Minami Acoustics'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.
Minami Acoustics's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Minami Acoustics's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Minami Acoustics's Beneish M-Score falls into.
Minami Acoustics 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 Minami Acoustics 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 * 0.9386 | + | 0.528 * 0.9854 | + | 0.404 * 0.4663 | + | 0.892 * 1.6198 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0678 | + | 4.679 * 0.015559 | - | 0.327 * 0.4606 |
| = | -1.97 |
* 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 ¥376 Mil.
Revenue was 414.064 + 467.666 + 563.906 + 452.311 = ¥1,898 Mil.
Gross Profit was 65.795 + 95.008 + 121.293 + 87.675 = ¥370 Mil.
Total Current Assets was ¥1,988 Mil.
Total Assets was ¥2,477 Mil.
Property, Plant and Equipment(Net PPE) was ¥390 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥49 Mil.
Total Current Liabilities was ¥501 Mil.
Long-Term Debt & Capital Lease Obligation was ¥1 Mil.
Net Income was 40.347 + 26.397 + 55.823 + 34.777 = ¥157 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was 124.793 + 36.589 + -34.86 + -7.723 = ¥119 Mil.
|
Total Receivables was ¥247 Mil.
Revenue was 272.035 + 327.682 + 305.274 + 266.75 = ¥1,172 Mil.
Gross Profit was 52.591 + 62.245 + 62.176 + 47.935 = ¥225 Mil.
Total Current Assets was ¥582 Mil.
Total Assets was ¥1,044 Mil.
Property, Plant and Equipment(Net PPE) was ¥372 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥28 Mil.
Total Current Liabilities was ¥422 Mil.
Long-Term Debt & Capital Lease Obligation was ¥37 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) |
| = | (375.956 / 1897.947) | / | (247.281 / 1171.741) |
| = | 0.198086 | / | 0.211037 |
| | = | 0.9386 |
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) |
| = | (224.947 / 1171.741) | / | (369.771 / 1897.947) |
| = | 0.191977 | / | 0.194827 |
| | = | 0.9854 |
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 - (1987.865 + 389.877) / 2477.412) | / | (1 - (581.881 + 372.362) / 1044.347) |
| = | 0.040231 | / | 0.086278 |
| | = | 0.4663 |
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 |
| = | 1897.947 | / | 1171.741 |
| | = | 1.6198 |
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 + 372.362)) | / | (0 / (0 + 389.877)) |
| = | 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) |
| = | (49.165 / 1897.947) | / | (28.425 / 1171.741) |
| = | 0.025904 | / | 0.024259 |
| | = | 1.0678 |
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) |
| = | ((0.725 + 500.565) / 2477.412) | / | ((36.525 + 422.225) / 1044.347) |
| = | 0.202344 | / | 0.43927 |
| | = | 0.4606 |
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 |
| = | (157.344 - 0 | - | 118.799) | / | 2477.412 |
| | = | 0.015559 |
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.
Minami Acoustics has a M-score of -1.97 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
SZSE:301383 has been successfully added to your