Genesystem Co Beneish M-Score Historical Data
The historical data trend for Genesystem 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.
Genesystem Co Beneish M-Score Chart
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Genesystem Co Annual Data
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Trend |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
- |
-2.94 |
-3.35 |
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Genesystem Co Quarterly Data
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Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-3.63 |
2.38 |
1.97 |
-3.35 |
-5.18 |
Competitive Comparison of Genesystem Co's Beneish M-Score
For the Diagnostics & Research subindustry, Genesystem 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.
Genesystem Co's Beneish M-Score Distribution in the Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, Genesystem Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Genesystem Co's Beneish M-Score falls into.
Genesystem 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 Genesystem 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 * 0.046 | + | 0.404 * 3.9842 | + | 0.892 * 0.2557 | + | 0.115 * 0.0627 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 10.6154 | + | 4.679 * -0.04713 | - | 0.327 * 0.5073 |
| = | -5.18 |
* 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 ₩0.0 Mil.
Revenue was 135.21 + 66.265 + 203.981 + 153.994 = ₩559.5 Mil.
Gross Profit was -189.745 + -657.601 + -372.528 + -293.708 = ₩-1,513.6 Mil.
Total Current Assets was ₩18,768.9 Mil.
Total Assets was ₩36,583.1 Mil.
Property, Plant and Equipment(Net PPE) was ₩0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩444.5 Mil.
Selling, General, & Admin. Expense(SGA) was ₩3,028.2 Mil.
Total Current Liabilities was ₩2,413.3 Mil.
Long-Term Debt & Capital Lease Obligation was ₩0.0 Mil.
Net Income was -2173.647 + -1496.695 + -2283.822 + -1952.449 = ₩-7,906.6 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0.0 Mil.
Cash Flow from Operations was 0 + -2177.026 + -1695.034 + -2310.384 = ₩-6,182.4 Mil.
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Total Receivables was ₩902.4 Mil.
Revenue was 472.788 + 735.714 + 496.173 + 483.209 = ₩2,187.9 Mil.
Gross Profit was -262.243 + 23.757 + -25.876 + -8.144 = ₩-272.5 Mil.
Total Current Assets was ₩28,472.5 Mil.
Total Assets was ₩39,216.9 Mil.
Property, Plant and Equipment(Net PPE) was ₩5,951.3 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩397.9 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,115.6 Mil.
Total Current Liabilities was ₩2,025.3 Mil.
Long-Term Debt & Capital Lease Obligation was ₩3,074.3 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 / 559.45) | / | (902.356 / 2187.884) |
| = | 0 | / | 0.412433 |
| | = | 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) |
| = | (-272.506 / 2187.884) | / | (-1513.582 / 559.45) |
| = | -0.124552 | / | -2.705482 |
| | = | 0.046 |
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 - (18768.863 + 0) / 36583.079) | / | (1 - (28472.456 + 5951.323) / 39216.929) |
| = | 0.486952 | / | 0.122221 |
| | = | 3.9842 |
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 |
| = | 559.45 | / | 2187.884 |
| | = | 0.2557 |
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)) |
| = | (397.93 / (397.93 + 5951.323)) | / | (444.532 / (444.532 + 0)) |
| = | 0.062674 | / | 1 |
| | = | 0.0627 |
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) |
| = | (3028.226 / 559.45) | / | (1115.618 / 2187.884) |
| = | 5.412863 | / | 0.509907 |
| | = | 10.6154 |
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 + 2413.305) / 36583.079) | / | ((3074.256 + 2025.336) / 39216.929) |
| = | 0.065968 | / | 0.130035 |
| | = | 0.5073 |
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 |
| = | (-7906.613 - 0 | - | -6182.444) | / | 36583.079 |
| | = | -0.04713 |
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.
Genesystem Co has a M-score of -5.18 suggests that the company is unlikely to be a manipulator.
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