Advanced Health Intelligence (Advanced Health Intelligence) Beneish M-Score : -1.51 (As of May. 25, 2024)

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What is Advanced Health Intelligence Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

Warning Sign:

Beneish M-Score -1.51 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Advanced Health Intelligence's Beneish M-Score or its related term are showing as below:

AHI' s Beneish M-Score Range Over the Past 10 Years
Min: -8.04 Med: -1.51 Max: 28.94
Current: -1.51

During the past 9 years, the highest Beneish M-Score of Advanced Health Intelligence was 28.94. The lowest was -8.04. And the median was -1.51.

Advanced Health Intelligence Beneish M-Score Historical Data

The historical data trend for Advanced Health Intelligence'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.

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Advanced Health Intelligence Beneish M-Score Chart

Advanced Health Intelligence Annual Data

Trend

Apr15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Beneish M-Score

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28.94

16.04

-3.65

-8.04

-1.51

Advanced Health Intelligence Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Dec22	Mar23	Jun23	Sep23	Mar24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-1.51	-	-

Competitive Comparison of Advanced Health Intelligence's Beneish M-Score

For the Software - Application subindustry, Advanced Health Intelligence'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.

Advanced Health Intelligence's Beneish M-Score Distribution in the Software Industry

For the Software industry and Technology sector, Advanced Health Intelligence's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Advanced Health Intelligence's Beneish M-Score falls into.

Advanced Health Intelligence 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 Advanced Health Intelligence for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 2.5069

0.528 * 1.6386

0.404 * 1.722

0.892 * 2.3158

0.115 * 1.9463

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.1799

4.679 * -0.361158

0.327 * 3.7076

-1.62

This Year (Jun23) TTM:

Last Year (Jun22) TTM:

Total Receivables was $0.21 Mil.
Revenue was $0.44 Mil.
Gross Profit was $-3.14 Mil.
Total Current Assets was $2.18 Mil.
Total Assets was $5.98 Mil.
Property, Plant and Equipment(Net PPE) was $0.34 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.21 Mil.
Selling, General, & Admin. Expense(SGA) was $4.43 Mil.
Total Current Liabilities was $4.05 Mil.
Long-Term Debt & Capital Lease Obligation was $0.21 Mil.
Net Income was $-8.61 Mil.
Gross Profit was $-1.51 Mil.
Cash Flow from Operations was $-4.94 Mil.

Total Receivables was $0.04 Mil.
Revenue was $0.19 Mil.
Gross Profit was $-2.22 Mil.
Total Current Assets was $4.89 Mil.
Total Assets was $7.49 Mil.
Property, Plant and Equipment(Net PPE) was $0.09 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.26 Mil.
Selling, General, & Admin. Expense(SGA) was $10.63 Mil.
Total Current Liabilities was $1.44 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 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)
	=	(0.209 / 0.44)	/	(0.036 / 0.19)
	=	0.475	/	0.189474
	=	2.5069

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)
	=	(-2.219 / 0.19)	/	(-3.136 / 0.44)
	=	-11.678947	/	-7.127273
	=	1.6386

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 - (2.182 + 0.344) / 5.978)	/	(1 - (4.89 + 0.091) / 7.494)
	=	0.577451	/	0.335335
	=	1.722

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
	=	0.44	/	0.19
	=	2.3158

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))
	=	(0.256 / (0.256 + 0.091))	/	(0.21 / (0.21 + 0.344))
	=	0.737752	/	0.379061
	=	1.9463

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)
	=	(4.426 / 0.44)	/	(10.625 / 0.19)
	=	10.059091	/	55.921053
	=	0.1799

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)
	=	((0.205 + 4.045) / 5.978)	/	((0 + 1.437) / 7.494)
	=	0.71094	/	0.191753
	=	3.7076

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
	=	(-8.609 - -1.506	-	-4.944)	/	5.978
	=	-0.361158

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.

Advanced Health Intelligence has a M-score of -1.62 signals that the company is likely to be a manipulator.

Advanced Health Intelligence Beneish M-Score Related Terms

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Advanced Health Intelligence (Advanced Health Intelligence) Business Description

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MYZQF:USA AHI:Australia

Address

71-73 The Esplanade, Unit 5, South Perth, Perth, WA, AUS, 6151

Website

https://www.ahi.tech

Advanced Health Intelligence Ltd (AHI) is engaged in developing and delivering user-friendly biometric scans to render vital signs and health risk estimates to a smartphone. By leveraging the smartphone with purpose-built computer vision, machine learning models, and patented algorithms, AHI provides a private and secure way for individuals to perform biometric health-risk assessment and stratification. AHI's technology delivers simple-to-use, scalable, and cost-effective means to enable individuals to check, track and act towards better health outcomes. The combination of the patented and proprietary BodyScan dimensioning and composition capabilities and, FaceScan to return vital signs enables a unique health assessment capability made accessible anytime, anywhere through the smartphone.