PlayD Co Beneish M-Score Historical Data
The historical data trend for PlayD 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.
PlayD Co Beneish M-Score Chart
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PlayD 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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- |
-2.52 |
-2.05 |
-2.07 |
-2.71 |
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PlayD 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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-2.33 |
-2.31 |
-2.61 |
-2.71 |
-2.49 |
Competitive Comparison of PlayD Co's Beneish M-Score
For the Advertising Agencies subindustry, PlayD 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.
PlayD Co's Beneish M-Score Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, PlayD Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where PlayD Co's Beneish M-Score falls into.
PlayD 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 PlayD 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 * 0.9436 | + | 0.528 * 1.0154 | + | 0.404 * 1.1005 | + | 0.892 * 0.8692 | + | 0.115 * 0.8268 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8 | + | 4.679 * 0.008649 | - | 0.327 * 0.8343 |
| = | -2.49 |
* 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 ₩64,535 Mil.
Revenue was 9311.516 + 9286.976 + 10309.261 + 8700.127 = ₩37,608 Mil.
Gross Profit was 8909.942 + 9031.548 + 10036.585 + 8457.635 = ₩36,436 Mil.
Total Current Assets was ₩111,743 Mil.
Total Assets was ₩132,965 Mil.
Property, Plant and Equipment(Net PPE) was ₩4,026 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩2,178 Mil.
Selling, General, & Admin. Expense(SGA) was ₩7,922 Mil.
Total Current Liabilities was ₩47,309 Mil.
Long-Term Debt & Capital Lease Obligation was ₩2,168 Mil.
Net Income was 767.544 + 1164.656 + 1087.152 + 420.558 = ₩3,440 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 334.102 + -3249.548 + 9111.279 + -3905.94 = ₩2,290 Mil.
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Total Receivables was ₩78,681 Mil.
Revenue was 8959.287 + 12018.431 + 10894.088 + 11394.813 = ₩43,267 Mil.
Gross Profit was 8793.889 + 11818.869 + 10688.579 + 11263.424 = ₩42,565 Mil.
Total Current Assets was ₩124,279 Mil.
Total Assets was ₩147,334 Mil.
Property, Plant and Equipment(Net PPE) was ₩5,739 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩2,347 Mil.
Selling, General, & Admin. Expense(SGA) was ₩11,392 Mil.
Total Current Liabilities was ₩62,209 Mil.
Long-Term Debt & Capital Lease Obligation was ₩3,501 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) |
| = | (64535.028 / 37607.88) | / | (78681.42 / 43266.619) |
| = | 1.715997 | / | 1.818525 |
| | = | 0.9436 |
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) |
| = | (42564.761 / 43266.619) | / | (36435.71 / 37607.88) |
| = | 0.983778 | / | 0.968832 |
| | = | 1.0154 |
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 - (111742.568 + 4026.062) / 132965.23) | / | (1 - (124279.439 + 5739.025) / 147333.716) |
| = | 0.129332 | / | 0.117524 |
| | = | 1.1005 |
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 |
| = | 37607.88 | / | 43266.619 |
| | = | 0.8692 |
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)) |
| = | (2346.83 / (2346.83 + 5739.025)) | / | (2177.924 / (2177.924 + 4026.062)) |
| = | 0.290239 | / | 0.351052 |
| | = | 0.8268 |
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) |
| = | (7922.057 / 37607.88) | / | (11392.086 / 43266.619) |
| = | 0.210649 | / | 0.2633 |
| | = | 0.8 |
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) |
| = | ((2168.296 + 47308.602) / 132965.23) | / | ((3501.401 + 62208.951) / 147333.716) |
| = | 0.372104 | / | 0.445997 |
| | = | 0.8343 |
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 |
| = | (3439.91 - 0 | - | 2289.893) | / | 132965.23 |
| | = | 0.008649 |
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.
PlayD Co has a M-score of -2.49 suggests that the company is unlikely to be a manipulator.
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