Binovi Technologies (Binovi Technologies) Beneish M-Score : 0.00 (As of May. 23, 2024)

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What is Binovi Technologies 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.

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

During the past 11 years, the highest Beneish M-Score of Binovi Technologies was 0.00. The lowest was 0.00. And the median was 0.00.

Binovi Technologies Beneish M-Score Historical Data

The historical data trend for Binovi Technologies'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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Binovi Technologies Beneish M-Score Chart

Binovi Technologies Annual Data

Trend

Feb13

Feb14

Feb15

Feb16

Feb17

Feb18

Feb19

Feb20

Feb21

Feb22

Beneish M-Score

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-3.72

2.43

-2.96

-2.65

Binovi Technologies Quarterly Data
	May17	Aug17	Nov17	Feb18	May18	Aug18	Nov18	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22
Beneish M-Score	Get a 7-Day Free Trial															-2.65	-2.66	-3.52	-4.36	-

Competitive Comparison of Binovi Technologies's Beneish M-Score

For the Health Information Services subindustry, Binovi Technologies'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.

Binovi Technologies's Beneish M-Score Distribution in the Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Binovi Technologies's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Binovi Technologies's Beneish M-Score falls into.

Binovi Technologies 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 Binovi Technologies 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 * 1.8068

0.528 * 1.0164

0.404 * 0

0.892 * 0.2726

0.115 * 0.9372

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 2.0927

4.679 * -2.953107

0.327 * 16.4535

-21.85

This Year (Feb22) TTM:

Last Year (Feb21) TTM:

Total Receivables was $0.10 Mil.
Revenue was -0.057 + 0.045 + 0.075 + 0.088 = $0.15 Mil.
Gross Profit was -0.054 + 0.032 + 0.069 + 0.06 = $0.11 Mil.
Total Current Assets was $0.85 Mil.
Total Assets was $0.85 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.93 Mil.
Selling, General, & Admin. Expense(SGA) was $3.28 Mil.
Total Current Liabilities was $2.65 Mil.
Long-Term Debt & Capital Lease Obligation was $0.03 Mil.
Net Income was -9.649 + -0.874 + -1.091 + -1.355 = $-12.97 Mil.
Non Operating Income was -8.689 + -0.012 + -0.001 + 0.001 = $-8.70 Mil.
Cash Flow from Operations was -0.205 + -0.198 + -0.637 + -0.709 = $-1.75 Mil.

Total Receivables was $0.20 Mil.
Revenue was 0.134 + 0.221 + 0.122 + 0.077 = $0.55 Mil.
Gross Profit was 0.095 + 0.129 + 0.101 + 0.074 = $0.40 Mil.
Total Current Assets was $1.56 Mil.
Total Assets was $9.59 Mil.
Property, Plant and Equipment(Net PPE) was $0.04 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.60 Mil.
Selling, General, & Admin. Expense(SGA) was $5.75 Mil.
Total Current Liabilities was $1.81 Mil.
Long-Term Debt & Capital Lease Obligation was $0.03 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)
	=	(0.098 / 0.151)	/	(0.199 / 0.554)
	=	0.649007	/	0.359206
	=	1.8068

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)
	=	(0.399 / 0.554)	/	(0.107 / 0.151)
	=	0.720217	/	0.708609
	=	1.0164

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 - (0.852 + 0.001) / 0.853)	/	(1 - (1.56 + 0.041) / 9.594)
	=	0	/	0.833125
	=	0

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
	=	0.151	/	0.554
	=	0.2726

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))
	=	(0.602 / (0.602 + 0.041))	/	(0.933 / (0.933 + 0.001))
	=	0.936236	/	0.998929
	=	0.9372

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)
	=	(3.278 / 0.151)	/	(5.747 / 0.554)
	=	21.708609	/	10.373646
	=	2.0927

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)
	=	((0.029 + 2.651) / 0.853)	/	((0.027 + 1.805) / 9.594)
	=	3.141852	/	0.190953
	=	16.4535

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
	=	(-12.969 - -8.701	-	-1.749)	/	0.853
	=	-2.953107

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.

Binovi Technologies has a M-score of -21.85 suggests that the company is unlikely to be a manipulator.

Binovi Technologies Beneish M-Score Related Terms

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Binovi Technologies (Binovi Technologies) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Healthcare Providers & Services » Binovi Technologies Corp (OTCPK:BNVIF) » Definitions » Beneish M-Score

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Traded in Other Exchanges

N/A

Address

1055 West Georgia Street, Suite 1500, Vancouver, BC, CAN, V6E 4N7

Website

https://www.binovi.com

Binovi Technologies Corp is engaged in the development and commercialization of visual and neuro-cognitive processing products and manufacturing hardware and software for diagnosing and remediating visual perception disorders. The company has three geographical segments; the United States, Canada, and Other. it derives a majority of its revenue from the United States.