Jewett-Cameron Trading Co (Jewett-Cameron Trading Co) Beneish M-Score : -3.85 (As of Apr. 25, 2024)

View and export this data going back to 1996. Start your Free Trial

What is Jewett-Cameron Trading Co 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 -3.85 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Jewett-Cameron Trading Co's Beneish M-Score or its related term are showing as below:

JCTCF' s Beneish M-Score Range Over the Past 10 Years
Min: -4.34 Med: -2.33 Max: 7.8
Current: -3.85

During the past 13 years, the highest Beneish M-Score of Jewett-Cameron Trading Co was 7.80. The lowest was -4.34. And the median was -2.33.

Jewett-Cameron Trading Co Beneish M-Score Historical Data

The historical data trend for Jewett-Cameron Trading 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.

* Premium members only.

Jewett-Cameron Trading Co Beneish M-Score Chart

Jewett-Cameron Trading Co Annual Data

Trend

Aug14

Aug15

Aug16

Aug17

Aug18

Aug19

Aug20

Aug21

Aug22

Aug23

Beneish M-Score

Get a 7-Day Free Trial

-3.64

-1.27

-1.63

-0.30

Jewett-Cameron Trading Co Quarterly Data
	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
Beneish M-Score	Get a 7-Day Free Trial															1.91	4.06	-0.30	-2.74	-3.85

Competitive Comparison of Jewett-Cameron Trading Co's Beneish M-Score

For the Lumber & Wood Production subindustry, Jewett-Cameron Trading 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.

Jewett-Cameron Trading Co's Beneish M-Score Distribution in the Forest Products Industry

For the Forest Products industry and Basic Materials sector, Jewett-Cameron Trading Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Jewett-Cameron Trading Co's Beneish M-Score falls into.

Jewett-Cameron Trading 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 Jewett-Cameron Trading Co 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 * 1.2046

0.528 * 1.006

0.404 * 0.9191

0.892 * 0.911

0.115 * 0.8638

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0206

4.679 * -0.344487

0.327 * 0.441

-3.85

This Year (Feb24) TTM:

Last Year (Feb23) TTM:

Total Receivables was $4.68 Mil.
Revenue was 8.229 + 9.806 + 14.623 + 18.946 = $51.60 Mil.
Gross Profit was 2.065 + 1.956 + 3.054 + 4.413 = $11.49 Mil.
Total Current Assets was $24.20 Mil.
Total Assets was $28.99 Mil.
Property, Plant and Equipment(Net PPE) was $4.45 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.39 Mil.
Selling, General, & Admin. Expense(SGA) was $10.97 Mil.
Total Current Liabilities was $4.10 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -0.534 + 1.292 + 0.29 + 0.735 = $1.78 Mil.
Non Operating Income was -0.001 + 2.54 + 0 + 0 = $2.54 Mil.
Cash Flow from Operations was -2.412 + 4.632 + 4.046 + 2.964 = $9.23 Mil.

Total Receivables was $4.26 Mil.
Revenue was 8.143 + 12.578 + 15.001 + 20.922 = $56.64 Mil.
Gross Profit was 1.921 + 2.86 + 2.551 + 5.353 = $12.69 Mil.
Total Current Assets was $28.61 Mil.
Total Assets was $33.97 Mil.
Property, Plant and Equipment(Net PPE) was $4.93 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.37 Mil.
Selling, General, & Admin. Expense(SGA) was $11.80 Mil.
Total Current Liabilities was $10.90 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)
	=	(4.676 / 51.604)	/	(4.261 / 56.644)
	=	0.090613	/	0.075224
	=	1.2046

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)
	=	(12.685 / 56.644)	/	(11.488 / 51.604)
	=	0.223943	/	0.222618
	=	1.006

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 - (24.199 + 4.451) / 28.988)	/	(1 - (28.612 + 4.931) / 33.974)
	=	0.01166	/	0.012686
	=	0.9191

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
	=	51.604	/	56.644
	=	0.911

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))
	=	(0.366 / (0.366 + 4.931))	/	(0.387 / (0.387 + 4.451))
	=	0.069096	/	0.079992
	=	0.8638

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)
	=	(10.968 / 51.604)	/	(11.796 / 56.644)
	=	0.212542	/	0.208248
	=	1.0206

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 + 4.102) / 28.988)	/	((0 + 10.902) / 33.974)
	=	0.141507	/	0.320892
	=	0.441

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
	=	(1.783 - 2.539	-	9.23)	/	28.988
	=	-0.344487

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.

Jewett-Cameron Trading Co has a M-score of -3.85 suggests that the company is unlikely to be a manipulator.

Jewett-Cameron Trading Co Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Jewett-Cameron Trading Co's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Jewett-Cameron Trading Co (Jewett-Cameron Trading Co) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Forest Products » Jewett-Cameron Trading Co Ltd (NAS:JCTCF) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

32275 North West Hillcrest, P.O. Box 1010, North Plains, OR, USA, 97133

Website

https://www.jewettcameron.com

Jewett-Cameron Trading Co Ltd through its subsidiaries engages in the wholesale distribution of a variety of specialty wood products. Its operating segments include, The Industrial wood products segment is engaged in the processing and distribution of industrial wood products. The Pet Fencing and Other segment, which is the key revenue driver, operates as a wholesaler of wood products and a manufacturer and distributor of specialty metal products. The Seed processing and sales segment processes and distributes agricultural seed and Corporate and administrative. The company predominantly operates in United States and also has its presence in Canada, Latin America, Europe and Asia and other regions.

Executives

Chad Michael Summers	director, officer: Chief Executive Officer	2615 COEUR D'ALENE DR, WEST LINN OR 97065
Van Domelen Mitchell David	officer: CFO and Corporate Secretary	17492 NW COUNTRY DRIVE, PORTLAND OR 97223
Michael Charles Nasser	10 percent owner, officer: Corporate Secretary	3150 S.W. 72ND, PORTLAND OR 97225
Oregon Community Foundation	10 percent owner	1221 SW YAMHILL #100, PORTLAND OR 97205
Donald Boone Irrev Trust	10 percent owner	C/O RIVERVIEW TRUST COMPANY, 900 WASHINGTON ST, SUITE 900, VANCOUVER WA 98660
Donald M Boone	director, 10 percent owner, officer: President/CEO/Treasurer	PO BOX 1010, N PLAINS OR 97133
Chris Joseph Karlin	director	1822 PROSPECT AVE, HOOD RIVER OR 97031
Sarah Kathleen Johnson	director	810 NE 22ND AVE, PORTLAND OR 97232
Geoffrey Gaddy Guilfoy	director	1260 NW NAITO PARKWAY #704, PORTLAND OR 97209
Charles E. Hopewell	director, officer: President and CEO	P.O. BOX 1010, NORTH PLAINS OR 97133
Frank Gerald Magdlen	director	13620 SE MAPLE LANE, MILWAUKIE OR 97222
Ted A Sharp	director	428 CRYSTAL SPRINGS LN, KEIZER OR 97303
Ralph Elton Lodewick	director	5945 NW SEWELL RD, HILLSBORO OR 97124
Murray George Smith	officer: Chief Financial Officer	11920 SOUTHERN HIGHLANDS PARKWAY,, SUITE 200, LAS VEGAS NV 89141
Thomas Robert Rice	officer: Chief Financial Officer	P.O. BOX 1010, NORTH PLAINS OR 97133