Pixelplus Co Beneish M-Score Historical Data
The historical data trend for Pixelplus 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.
Pixelplus Co Beneish M-Score Chart
|
Pixelplus Co Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.91 |
-1.98 |
-1.67 |
-3.06 |
-1.98 |
|
Pixelplus 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-3.60 |
-2.76 |
-3.59 |
-1.98 |
-2.18 |
Competitive Comparison of Pixelplus Co's Beneish M-Score
For the Semiconductors subindustry, Pixelplus 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.
Pixelplus Co's Beneish M-Score Distribution in the Semiconductors Industry
For the Semiconductors industry and Technology sector, Pixelplus Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Pixelplus Co's Beneish M-Score falls into.
Pixelplus 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 Pixelplus 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 * 1.9691 | + | 0.528 * 1.1745 | + | 0.404 * 0.9237 | + | 0.892 * 0.8876 | + | 0.115 * 2.0248 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.9003 | + | 4.679 * -0.052145 | - | 0.327 * 1.8216 |
| = | -2.18 |
* 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 ₩1,958 Mil.
Revenue was 14142.332 + 11569.875 + 13141.989 + 13530.666 = ₩52,385 Mil.
Gross Profit was 4300.519 + 2638.2 + 3646.734 + 1592.613 = ₩12,178 Mil.
Total Current Assets was ₩42,511 Mil.
Total Assets was ₩110,370 Mil.
Property, Plant and Equipment(Net PPE) was ₩50,159 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,325 Mil.
Selling, General, & Admin. Expense(SGA) was ₩2,187 Mil.
Total Current Liabilities was ₩12,130 Mil.
Long-Term Debt & Capital Lease Obligation was ₩13,054 Mil.
Net Income was 855.755 + 266.837 + 161.942 + 379.725 = ₩1,664 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was -323.909 + 727.009 + 2860.233 + 4156.161 = ₩7,419 Mil.
|
Total Receivables was ₩1,120 Mil.
Revenue was 12428.052 + 13639.193 + 15650.066 + 17298.964 = ₩59,016 Mil.
Gross Profit was 2475.023 + 3560.374 + 5536.703 + 4541.691 = ₩16,114 Mil.
Total Current Assets was ₩51,954 Mil.
Total Assets was ₩95,379 Mil.
Property, Plant and Equipment(Net PPE) was ₩26,865 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,477 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,296 Mil.
Total Current Liabilities was ₩5,433 Mil.
Long-Term Debt & Capital Lease Obligation was ₩6,514 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) |
| = | (1958.05 / 52384.862) | / | (1120.275 / 59016.275) |
| = | 0.037378 | / | 0.018982 |
| | = | 1.9691 |
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) |
| = | (16113.791 / 59016.275) | / | (12178.066 / 52384.862) |
| = | 0.27304 | / | 0.232473 |
| | = | 1.1745 |
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 - (42510.803 + 50159.279) / 110369.567) | / | (1 - (51954.44 + 26864.959) / 95379.005) |
| = | 0.160366 | / | 0.173619 |
| | = | 0.9237 |
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 |
| = | 52384.862 | / | 59016.275 |
| | = | 0.8876 |
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)) |
| = | (1477.014 / (1477.014 + 26864.959)) | / | (1325.09 / (1325.09 + 50159.279)) |
| = | 0.052114 | / | 0.025738 |
| | = | 2.0248 |
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) |
| = | (2186.691 / 52384.862) | / | (1296.425 / 59016.275) |
| = | 0.041743 | / | 0.021967 |
| | = | 1.9003 |
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) |
| = | ((13054.482 + 12129.98) / 110369.567) | / | ((6514.291 + 5433.09) / 95379.005) |
| = | 0.228183 | / | 0.125262 |
| | = | 1.8216 |
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 |
| = | (1664.259 - 0 | - | 7419.494) | / | 110369.567 |
| | = | -0.052145 |
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.
Pixelplus Co has a M-score of -2.18 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
XKRX:087600 has been successfully added to your