DMOA Co Beneish M-Score Historical Data
The historical data trend for DMOA 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.
DMOA Co Beneish M-Score Chart
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DMOA Co Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-3.11 |
-3.48 |
-2.19 |
-3.93 |
-2.71 |
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DMOA Co Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-4.13 |
-4.04 |
-3.18 |
-2.71 |
-3.10 |
Competitive Comparison of DMOA Co's Beneish M-Score
For the Software - Application subindustry, DMOA 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.
DMOA Co's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, DMOA Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where DMOA Co's Beneish M-Score falls into.
DMOA 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 DMOA Co 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 | + | 0.528 * 1.1533 | + | 0.404 * 1.3298 | + | 0.892 * 1.089 | + | 0.115 * 0.2676 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.3975 | + | 4.679 * 0.030658 | - | 0.327 * 0.9587 |
| = | -3.10 |
* 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 ₩0 Mil.
Revenue was 7227.181 + 6132.912 + 7583.256 + 9376.29 = ₩30,320 Mil.
Gross Profit was 5605.283 + 4203.768 + 5811.855 + 5908.89 = ₩21,530 Mil.
Total Current Assets was ₩78,577 Mil.
Total Assets was ₩91,045 Mil.
Property, Plant and Equipment(Net PPE) was ₩0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,058 Mil.
Selling, General, & Admin. Expense(SGA) was ₩6,864 Mil.
Total Current Liabilities was ₩38,244 Mil.
Long-Term Debt & Capital Lease Obligation was ₩0 Mil.
Net Income was 850.025 + -1643.637 + 875.225 + -786.859 = ₩-705 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 0 + 506.655 + -12719.65 + 8716.526 = ₩-3,496 Mil.
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Total Receivables was ₩42,402 Mil.
Revenue was 8538.786 + 7793.923 + 4785.517 + 6722.396 = ₩27,841 Mil.
Gross Profit was 6890.776 + 5734.825 + 4146.969 + 6028.133 = ₩22,801 Mil.
Total Current Assets was ₩78,882 Mil.
Total Assets was ₩92,630 Mil.
Property, Plant and Equipment(Net PPE) was ₩4,209 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,538 Mil.
Selling, General, & Admin. Expense(SGA) was ₩4,510 Mil.
Total Current Liabilities was ₩38,711 Mil.
Long-Term Debt & Capital Lease Obligation was ₩1,874 Mil.
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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) |
| = | (0 / 30319.639) | / | (42402.316 / 27840.622) |
| = | 0 | / | 1.523038 |
| | = | 0 |
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) |
| = | (22800.703 / 27840.622) | / | (21529.796 / 30319.639) |
| = | 0.818972 | / | 0.710094 |
| | = | 1.1533 |
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 - (78576.718 + 0) / 91044.655) | / | (1 - (78882.288 + 4208.975) / 92630.168) |
| = | 0.136943 | / | 0.102978 |
| | = | 1.3298 |
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 |
| = | 30319.639 | / | 27840.622 |
| | = | 1.089 |
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)) |
| = | (1537.865 / (1537.865 + 4208.975)) | / | (1057.668 / (1057.668 + 0)) |
| = | 0.267602 | / | 1 |
| | = | 0.2676 |
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) |
| = | (6864.412 / 30319.639) | / | (4510.413 / 27840.622) |
| = | 0.226402 | / | 0.162008 |
| | = | 1.3975 |
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 + 38243.982) / 91044.655) | / | ((1874.457 + 38710.891) / 92630.168) |
| = | 0.420057 | / | 0.438144 |
| | = | 0.9587 |
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 |
| = | (-705.246 - 0 | - | -3496.469) | / | 91044.655 |
| | = | 0.030658 |
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.
DMOA Co has a M-score of -3.10 suggests that the company is unlikely to be a manipulator.
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