JVCKenwood Beneish M-Score Historical Data
The historical data trend for JVCKenwood'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.
JVCKenwood Beneish M-Score Chart
|
JVCKenwood Annual Data
|
|
Trend |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
Mar24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.99 |
-3.14 |
-2.31 |
-2.66 |
- |
|
JVCKenwood 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.66 |
-2.40 |
-2.57 |
-2.73 |
- |
Competitive Comparison of JVCKenwood's Beneish M-Score
For the Auto Parts subindustry, JVCKenwood'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.
JVCKenwood's Beneish M-Score Distribution in the Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, JVCKenwood's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where JVCKenwood's Beneish M-Score falls into.
JVCKenwood 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 JVCKenwood 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 * 1.0924 | + | 0.528 * 0.9315 | + | 0.404 * 0.9686 | + | 0.892 * 1.0648 | + | 0.115 * 0.9991 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0741 | + | 4.679 * -0.072259 | - | 0.327 * 0.9743 |
| = | -2.73 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was 円67,922 Mil.
Revenue was 92553 + 89105 + 85598 + 89413 = 円356,669 Mil.
Gross Profit was 28028 + 26834 + 26214 + 26180 = 円107,256 Mil.
Total Current Assets was 円197,963 Mil.
Total Assets was 円306,800 Mil.
Property, Plant and Equipment(Net PPE) was 円59,138 Mil.
Depreciation, Depletion and Amortization(DDA) was 円18,120 Mil.
Selling, General, & Admin. Expense(SGA) was 円86,621 Mil.
Total Current Liabilities was 円122,505 Mil.
Long-Term Debt & Capital Lease Obligation was 円34,473 Mil.
Net Income was 4170 + 3272 + 3477 + 719 = 円11,638 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = 円0 Mil.
Cash Flow from Operations was 12325 + 10453 + 122 + 10907 = 円33,807 Mil.
|
Total Receivables was 円58,393 Mil.
Revenue was 89389 + 86108 + 72000 + 87462 = 円334,959 Mil.
Gross Profit was 25387 + 24793 + 18839 + 24809 = 円93,828 Mil.
Total Current Assets was 円192,110 Mil.
Total Assets was 円298,010 Mil.
Property, Plant and Equipment(Net PPE) was 円56,062 Mil.
Depreciation, Depletion and Amortization(DDA) was 円17,157 Mil.
Selling, General, & Admin. Expense(SGA) was 円75,739 Mil.
Total Current Liabilities was 円112,057 Mil.
Long-Term Debt & Capital Lease Obligation was 円44,440 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) |
| = | (67922 / 356669) | / | (58393 / 334959) |
| = | 0.190434 | / | 0.174329 |
| | = | 1.0924 |
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) |
| = | (93828 / 334959) | / | (107256 / 356669) |
| = | 0.280118 | / | 0.300716 |
| | = | 0.9315 |
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 - (197963 + 59138) / 306800) | / | (1 - (192110 + 56062) / 298010) |
| = | 0.161992 | / | 0.167236 |
| | = | 0.9686 |
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 |
| = | 356669 | / | 334959 |
| | = | 1.0648 |
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)) |
| = | (17157 / (17157 + 56062)) | / | (18120 / (18120 + 59138)) |
| = | 0.234324 | / | 0.234539 |
| | = | 0.9991 |
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) |
| = | (86621 / 356669) | / | (75739 / 334959) |
| = | 0.242861 | / | 0.226114 |
| | = | 1.0741 |
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) |
| = | ((34473 + 122505) / 306800) | / | ((44440 + 112057) / 298010) |
| = | 0.511662 | / | 0.52514 |
| | = | 0.9743 |
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 |
| = | (11638 - 0 | - | 33807) | / | 306800 |
| | = | -0.072259 |
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.
JVCKenwood has a M-score of -2.73 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
TSE:6632 has been successfully added to your