Amano Beneish M-Score Historical Data
The historical data trend for Amano'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.
Amano Beneish M-Score Chart
|
Amano Annual Data
|
|
Trend |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
Mar24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-3.04 |
-2.84 |
-2.76 |
-2.64 |
-2.60 |
|
Amano 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.64 |
-2.62 |
-2.50 |
-2.53 |
-2.60 |
Competitive Comparison of Amano's Beneish M-Score
For the Scientific & Technical Instruments subindustry, Amano'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.
Amano's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Amano's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Amano's Beneish M-Score falls into.
Amano 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 Amano 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 * 1.0114 | + | 0.528 * 1.0059 | + | 0.404 * 1.0661 | + | 0.892 * 1.151 | + | 0.115 * 0.9574 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9648 | + | 4.679 * -0.057589 | - | 0.327 * 1.0748 |
| = | -2.60 |
* 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 円36,038 Mil.
Revenue was 45073 + 37628 + 38323 + 31840 = 円152,864 Mil.
Gross Profit was 20383 + 16926 + 17217 + 14422 = 円68,948 Mil.
Total Current Assets was 円120,892 Mil.
Total Assets was 円184,585 Mil.
Property, Plant and Equipment(Net PPE) was 円31,096 Mil.
Depreciation, Depletion and Amortization(DDA) was 円10,549 Mil.
Selling, General, & Admin. Expense(SGA) was 円49,380 Mil.
Total Current Liabilities was 円45,289 Mil.
Long-Term Debt & Capital Lease Obligation was 円8,356 Mil.
Net Income was 4047 + 3537 + 4000 + 1557 = 円13,141 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = 円0 Mil.
Cash Flow from Operations was 7716 + 5689 + 4373 + 5993 = 円23,771 Mil.
|
Total Receivables was 円30,958 Mil.
Revenue was 40543 + 31812 + 32833 + 27622 = 円132,810 Mil.
Gross Profit was 18750 + 14384 + 14841 + 12279 = 円60,254 Mil.
Total Current Assets was 円113,749 Mil.
Total Assets was 円171,250 Mil.
Property, Plant and Equipment(Net PPE) was 円29,135 Mil.
Depreciation, Depletion and Amortization(DDA) was 円9,328 Mil.
Selling, General, & Admin. Expense(SGA) was 円44,467 Mil.
Total Current Liabilities was 円38,513 Mil.
Long-Term Debt & Capital Lease Obligation was 円7,791 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) |
| = | (36038 / 152864) | / | (30958 / 132810) |
| = | 0.235752 | / | 0.2331 |
| | = | 1.0114 |
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) |
| = | (60254 / 132810) | / | (68948 / 152864) |
| = | 0.453686 | / | 0.451041 |
| | = | 1.0059 |
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 - (120892 + 31096) / 184585) | / | (1 - (113749 + 29135) / 171250) |
| = | 0.176596 | / | 0.165641 |
| | = | 1.0661 |
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 |
| = | 152864 | / | 132810 |
| | = | 1.151 |
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)) |
| = | (9328 / (9328 + 29135)) | / | (10549 / (10549 + 31096)) |
| = | 0.242519 | / | 0.253308 |
| | = | 0.9574 |
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) |
| = | (49380 / 152864) | / | (44467 / 132810) |
| = | 0.323032 | / | 0.334817 |
| | = | 0.9648 |
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) |
| = | ((8356 + 45289) / 184585) | / | ((7791 + 38513) / 171250) |
| = | 0.290625 | / | 0.270388 |
| | = | 1.0748 |
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 |
| = | (13141 - 0 | - | 23771) | / | 184585 |
| | = | -0.057589 |
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.
Amano has a M-score of -2.60 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
TSE:6436 has been successfully added to your