Supreme Electronics Co (TPE:8112) Beneish M-Score : -0.65 (As of May. 31, 2024)

View and export this data going back to 2007. Start your Free Trial

What is Supreme Electronics 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.

Warning Sign:

Beneish M-Score -0.65 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Supreme Electronics Co's Beneish M-Score or its related term are showing as below:

TPE:8112' s Beneish M-Score Range Over the Past 10 Years
Min: -4.21 Med: -1.6 Max: 0.17
Current: -0.65

During the past 13 years, the highest Beneish M-Score of Supreme Electronics Co was 0.17. The lowest was -4.21. And the median was -1.60.

Supreme Electronics Co Beneish M-Score Historical Data

The historical data trend for Supreme Electronics 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.

* Premium members only.

Supreme Electronics Co Beneish M-Score Chart

Supreme Electronics Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

Get a 7-Day Free Trial

-2.82

-1.30

-1.39

-3.44

-2.10

Supreme Electronics 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															-4.21	-3.50	-3.08	-2.10	-0.65

Competitive Comparison of Supreme Electronics Co's Beneish M-Score

For the Semiconductors subindustry, Supreme Electronics 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.

Supreme Electronics Co's Beneish M-Score Distribution in the Semiconductors Industry

For the Semiconductors industry and Technology sector, Supreme Electronics Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Supreme Electronics Co's Beneish M-Score falls into.

Supreme Electronics 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 Supreme Electronics 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 * 1.4088

0.528 * 0.8225

0.404 * 0.5749

0.892 * 1.2802

0.115 * 1.0311

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.8605

4.679 * 0.313112

0.327 * 1.0632

-0.65

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was NT$25,913 Mil.
Revenue was 55822.303 + 49173.945 + 40630.253 + 37598.893 = NT$183,225 Mil.
Gross Profit was 1803.534 + 2314.181 + 1861.066 + 1502.918 = NT$7,482 Mil.
Total Current Assets was NT$64,672 Mil.
Total Assets was NT$66,014 Mil.
Property, Plant and Equipment(Net PPE) was NT$430 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$99 Mil.
Selling, General, & Admin. Expense(SGA) was NT$2,025 Mil.
Total Current Liabilities was NT$43,910 Mil.
Long-Term Debt & Capital Lease Obligation was NT$2,838 Mil.
Net Income was 530.645 + 783.768 + 684.425 + 493.721 = NT$2,493 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = NT$0 Mil.
Cash Flow from Operations was -13324.708 + -166.381 + -1992.036 + -2693.945 = NT$-18,177 Mil.

Total Receivables was NT$14,367 Mil.
Revenue was 24742.087 + 35719.185 + 37783.334 + 44872.486 = NT$143,117 Mil.
Gross Profit was 818.844 + 1033.385 + 1237.427 + 1716.942 = NT$4,807 Mil.
Total Current Assets was NT$41,472 Mil.
Total Assets was NT$42,880 Mil.
Property, Plant and Equipment(Net PPE) was NT$378 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$91 Mil.
Selling, General, & Admin. Expense(SGA) was NT$1,838 Mil.
Total Current Liabilities was NT$23,421 Mil.
Long-Term Debt & Capital Lease Obligation was NT$5,140 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)
	=	(25912.89 / 183225.394)	/	(14366.88 / 143117.092)
	=	0.141426	/	0.100385
	=	1.4088

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)
	=	(4806.598 / 143117.092)	/	(7481.699 / 183225.394)
	=	0.033585	/	0.040833
	=	0.8225

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 - (64671.683 + 430.043) / 66013.564)	/	(1 - (41471.692 + 377.943) / 42879.937)
	=	0.013813	/	0.024028
	=	0.5749

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
	=	183225.394	/	143117.092
	=	1.2802

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))
	=	(90.726 / (90.726 + 377.943))	/	(99.404 / (99.404 + 430.043))
	=	0.193582	/	0.187751
	=	1.0311

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)
	=	(2024.773 / 183225.394)	/	(1837.964 / 143117.092)
	=	0.011051	/	0.012842
	=	0.8605

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)
	=	((2838.299 + 43909.612) / 66013.564)	/	((5139.756 + 23420.848) / 42879.937)
	=	0.708156	/	0.66606
	=	1.0632

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
	=	(2492.559 - 0	-	-18177.07)	/	66013.564
	=	0.313112

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.

Supreme Electronics Co has a M-score of -0.65 signals that the company is likely to be a manipulator.

Supreme Electronics Co Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Supreme Electronics Co's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Supreme Electronics Co (TPE:8112) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Semiconductors » Supreme Electronics Co Ltd (TPE:8112) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

No. 189 Gangqian Road, 7th Floor, Neihu District, Taipei City, TWN, 11494

Website

http://www.supreme.com.tw

Supreme Electronics Co Ltd is engaged in the import and export dealership of a variety of electronic products and components. It manufactures and sells electronic components to computer manufacturers. The products offered by the group include NAND flash & other memory, DRAM, TFT/LCD, Application Processor, System LSI, and other products, of which key revenue is generated from NAND flash & other memory products. Its geographical segments are Hong Kong & China, Taiwan, the United States, and other countries, of which most of the income is generated from Hong Kong & China.

Supreme Electronics Co (TPE:8112) Headlines

No Headlines