Internet America (Internet America) Beneish M-Score : 0.00 (As of Apr. 26, 2024)

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What is Internet America 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 Internet America's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Internet America was 0.00. The lowest was 0.00. And the median was 0.00.

Internet America Beneish M-Score Historical Data

The historical data trend for Internet America'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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Internet America Beneish M-Score Chart

Internet America Annual Data

Trend

Jun05

Jun06

Jun07

Jun08

Jun09

Jun10

Jun11

Jun12

Jun13

Jun14

Beneish M-Score

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-3.05

-4.21

-2.34

2.89

1.53

Internet America Quarterly Data
	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15
Beneish M-Score	Get a 7-Day Free Trial															2.52	1.53	1.28	0.91	0.88

Competitive Comparison of Internet America's Beneish M-Score

For the Telecom Services subindustry, Internet America'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.

Internet America's Beneish M-Score Distribution in the Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, Internet America's Beneish M-Score distribution charts can be found below:

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

Internet America 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 Internet America 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Mar15) TTM:

Last Year (Mar14) TTM:

Total Receivables was $0.12 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was -1.123 + -1.132 + -1.108 + -0.947 = $-4.31 Mil.
Total Current Assets was $4.68 Mil.
Total Assets was $16.66 Mil.
Property, Plant and Equipment(Net PPE) was $1.47 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.81 Mil.
Selling, General, & Admin. Expense(SGA) was $2.59 Mil.
Total Current Liabilities was $1.52 Mil.
Long-Term Debt & Capital Lease Obligation was $0.08 Mil.
Net Income was 0.079 + 0.118 + 0.068 + 5.161 = $5.43 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was 0.393 + 0.251 + 0.486 + 0.316 = $1.45 Mil.

Total Receivables was $0.19 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was -1.075 + -1.006 + -0.978 + -0.871 = $-3.93 Mil.
Total Current Assets was $4.00 Mil.
Total Assets was $11.49 Mil.
Property, Plant and Equipment(Net PPE) was $1.38 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.76 Mil.
Selling, General, & Admin. Expense(SGA) was $2.30 Mil.
Total Current Liabilities was $1.84 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)
	=	(0.121 / 0)	/	(0.187 / 0)
	=		/
	=

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)
	=	(-3.93 / 0)	/	(-4.31 / 0)
	=		/
	=

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 - (4.678 + 1.468) / 16.661)	/	(1 - (3.996 + 1.377) / 11.49)
	=	0.631115	/	0.532376
	=

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	/	0
	=

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))
	=	(0.763 / (0.763 + 1.377))	/	(0.806 / (0.806 + 1.468))
	=	0.356542	/	0.354442
	=

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)
	=	(2.587 / 0)	/	(2.298 / 0)
	=		/
	=

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)
	=	((0.084 + 1.52) / 16.661)	/	((0.004 + 1.843) / 11.49)
	=	0.096273	/	0.160748
	=

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
	=	(5.426 - 0	-	1.446)	/	16.661
	=	0.238881

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.

Internet America Beneish M-Score Related Terms

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Internet America (Internet America) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Telecommunication Services » Internet America Inc (GREY:GEEK) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.internetamerica.com

Internet America Inc is an internet service provider focusing on providing high-speed broadband internet in rural underserved and non-served markets. It offers broadband internet services to customers within its network footprint, focusing on rural, residential markets. The company installs wireless internet service in communities and rural areas that have little or no access to alternative broadband solutions. In addition, it also offers internet services tailored to meet the needs of both residential and business subscribers. Its primary service offerings include broadband Internet delivered wirelessly and over DSL, and dial-up Internet access. Geographically it operates through the region of US and derives substantially all of its revenues from internet access services and related fees.

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