Tribe Property Technologies (FRA:7HZ) Beneish M-Score : -5.69 (As of Jun. 18, 2024)

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What is Tribe Property 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.

Good Sign:

Beneish M-Score -5.69 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

FRA:7HZ' s Beneish M-Score Range Over the Past 10 Years
Min: -5.69 Med: -2.24 Max: -1.7
Current: -5.69

During the past 4 years, the highest Beneish M-Score of Tribe Property Technologies was -1.70. The lowest was -5.69. And the median was -2.24.

Tribe Property Technologies Beneish M-Score Historical Data

The historical data trend for Tribe Property 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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Tribe Property Technologies Beneish M-Score Chart

Tribe Property Technologies Annual Data

Trend

Apr20

Dec21

Dec22

Dec23

Beneish M-Score

-2.15

-4.71

Tribe Property Technologies Quarterly Data
	Jan20	Apr20	Sep20	Jan21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial											-1.70	-2.31	-3.57	-4.71	-5.69

Competitive Comparison of Tribe Property Technologies's Beneish M-Score

For the Real Estate Services subindustry, Tribe Property 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.

Tribe Property Technologies's Beneish M-Score Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Tribe Property Technologies's Beneish M-Score distribution charts can be found below:

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

Tribe Property 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 Tribe Property 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 * 1.0803

0.528 * 0.6373

0.404 * 1.046

0.892 * 1.024

0.115 * 0.9568

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.5911

4.679 * -0.583224

0.327 * 2.5345

-5.72

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was €0.97 Mil.
Revenue was 3.628 + 3.493 + 3.323 + 3.349 = €13.79 Mil.
Gross Profit was 1.343 + 1.051 + 1.295 + 3.349 = €7.04 Mil.
Total Current Assets was €1.67 Mil.
Total Assets was €9.14 Mil.
Property, Plant and Equipment(Net PPE) was €2.35 Mil.
Depreciation, Depletion and Amortization(DDA) was €1.03 Mil.
Selling, General, & Admin. Expense(SGA) was €6.54 Mil.
Total Current Liabilities was €5.56 Mil.
Long-Term Debt & Capital Lease Obligation was €2.49 Mil.
Net Income was -1.497 + -4.763 + -1.434 + -1.886 = €-9.58 Mil.
Non Operating Income was 0.003 + -3.425 + -0.002 + 0 = €-3.42 Mil.
Cash Flow from Operations was -0.823 + 0 + 0 + 0 = €-0.82 Mil.

Total Receivables was €0.88 Mil.
Revenue was 3.18 + 3.299 + 3.429 + 3.562 = €13.47 Mil.
Gross Profit was 1.108 + 0.815 + 1.201 + 1.256 = €4.38 Mil.
Total Current Assets was €4.86 Mil.
Total Assets was €16.05 Mil.
Property, Plant and Equipment(Net PPE) was €2.60 Mil.
Depreciation, Depletion and Amortization(DDA) was €1.07 Mil.
Selling, General, & Admin. Expense(SGA) was €10.81 Mil.
Total Current Liabilities was €2.33 Mil.
Long-Term Debt & Capital Lease Obligation was €3.25 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)
	=	(0.969 / 13.793)	/	(0.876 / 13.47)
	=	0.070253	/	0.065033
	=	1.0803

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)
	=	(4.38 / 13.47)	/	(7.038 / 13.793)
	=	0.325167	/	0.510259
	=	0.6373

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 - (1.672 + 2.354) / 9.144)	/	(1 - (4.861 + 2.599) / 16.046)
	=	0.559711	/	0.535087
	=	1.046

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
	=	13.793	/	13.47
	=	1.024

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))
	=	(1.072 / (1.072 + 2.599))	/	(1.034 / (1.034 + 2.354))
	=	0.292019	/	0.305195
	=	0.9568

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)
	=	(6.54 / 13.793)	/	(10.805 / 13.47)
	=	0.474154	/	0.802153
	=	0.5911

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)
	=	((2.491 + 5.564) / 9.144)	/	((3.251 + 2.326) / 16.046)
	=	0.880906	/	0.347563
	=	2.5345

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
	=	(-9.58 - -3.424	-	-0.823)	/	9.144
	=	-0.583224

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.

Tribe Property Technologies has a M-score of -5.72 suggests that the company is unlikely to be a manipulator.

Tribe Property Technologies Beneish M-Score Related Terms

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Tribe Property Technologies (FRA:7HZ) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Tribe Property Technologies Inc (FRA:7HZ) » Definitions » Beneish M-Score

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Traded in Other Exchanges

TRPTF:USA TRBE:Canada

Address

1166 Alberni Street, Suite 1606, Vancouver, BC, CAN, V6E 3Z3

Website

https://www.tribetech.com

Tribe Property Technologies Inc is a property technology company engaged in offering technology-enabled property management services to meet the needs of developers, condominium and residential communities, owners and residents. As a tech-forward property management company, Tribe's integrated service-technology delivery model serves the needs of stakeholders than traditional service providers. The company's platform decreases customer acquisition costs, increases retention, and allows for the addition of value-added products and services through the platform.

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