Poco Holdings Co Beneish M-Score Historical Data
The historical data trend for Poco Holdings 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.
Poco Holdings Co Beneish M-Score Chart
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Poco Holdings Co Annual Data
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Trend |
Dec14 |
Dec15 |
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Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-1.97 |
-1.63 |
-1.23 |
-1.97 |
-2.21 |
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Poco Holdings Co Quarterly Data
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Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
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Sep21 |
Dec21 |
Mar22 |
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Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
| Beneish M-Score |
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-1.84 |
-1.98 |
-2.21 |
-2.18 |
-2.12 |
Competitive Comparison of Poco Holdings Co's Beneish M-Score
For the Electronic Components subindustry, Poco Holdings 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.
Poco Holdings Co's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Poco Holdings Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Poco Holdings Co's Beneish M-Score falls into.
Poco Holdings 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 Poco Holdings 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 * 1.0653 | + | 0.528 * 1.0021 | + | 0.404 * 1.0427 | + | 0.892 * 1.1682 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8329 | + | 4.679 * 0.018396 | - | 0.327 * 0.9578 |
| = | -2.12 |
* 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 (Jun24) TTM: | Last Year (Jun23) TTM: |
Total Receivables was ¥799 Mil.
Revenue was 461.037 + 335.064 + 304.392 + 272.509 = ¥1,373 Mil.
Gross Profit was 195.199 + 127.033 + 120.822 + 102.627 = ¥546 Mil.
Total Current Assets was ¥1,371 Mil.
Total Assets was ¥2,756 Mil.
Property, Plant and Equipment(Net PPE) was ¥1,097 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥49 Mil.
Total Current Liabilities was ¥356 Mil.
Long-Term Debt & Capital Lease Obligation was ¥285 Mil.
Net Income was 113.697 + 71.522 + 66.908 + 54.817 = ¥307 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was 89.266 + 30.309 + 134.322 + 2.339 = ¥256 Mil.
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Total Receivables was ¥642 Mil.
Revenue was 290.965 + 290.654 + 322.068 + 271.589 = ¥1,175 Mil.
Gross Profit was 116.6 + 118.83 + 131.179 + 101.482 = ¥468 Mil.
Total Current Assets was ¥1,179 Mil.
Total Assets was ¥2,333 Mil.
Property, Plant and Equipment(Net PPE) was ¥920 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥51 Mil.
Total Current Liabilities was ¥314 Mil.
Long-Term Debt & Capital Lease Obligation was ¥253 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) |
| = | (798.78 / 1373.002) | / | (641.811 / 1175.276) |
| = | 0.581776 | / | 0.546094 |
| | = | 1.0653 |
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) |
| = | (468.091 / 1175.276) | / | (545.681 / 1373.002) |
| = | 0.398282 | / | 0.397436 |
| | = | 1.0021 |
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 - (1370.818 + 1096.828) / 2756.436) | / | (1 - (1178.547 + 920.416) / 2333.41) |
| = | 0.104769 | / | 0.100474 |
| | = | 1.0427 |
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 |
| = | 1373.002 | / | 1175.276 |
| | = | 1.1682 |
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)) |
| = | (0 / (0 + 920.416)) | / | (0 / (0 + 1096.828)) |
| = | 0 | / | 0 |
| | = | 1 |
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) |
| = | (49.469 / 1373.002) | / | (50.838 / 1175.276) |
| = | 0.03603 | / | 0.043256 |
| | = | 0.8329 |
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) |
| = | ((285.233 + 355.518) / 2756.436) | / | ((252.503 + 313.834) / 2333.41) |
| = | 0.232456 | / | 0.242708 |
| | = | 0.9578 |
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 |
| = | (306.944 - 0 | - | 256.236) | / | 2756.436 |
| | = | 0.018396 |
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.
Poco Holdings Co has a M-score of -2.12 suggests that the company is unlikely to be a manipulator.
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