GrowLife (GrowLife) Beneish M-Score : 0.00 (As of May. 29, 2024)

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

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

GrowLife Beneish M-Score Historical Data

The historical data trend for GrowLife'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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GrowLife Beneish M-Score Chart

GrowLife Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Beneish M-Score

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-4.97

4.91

GrowLife Quarterly Data
	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of GrowLife's Beneish M-Score

For the Industrial Distribution subindustry, GrowLife'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.

GrowLife's Beneish M-Score Distribution in the Industrial Distribution Industry

For the Industrial Distribution industry and Industrials sector, GrowLife's Beneish M-Score distribution charts can be found below:

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

GrowLife 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 GrowLife 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 (Mar23) TTM:

Last Year (Mar22) TTM:

Total Receivables was $0.00 Mil.
Revenue was 0.079 + -1.401 + 0.226 + 0.315 = $-0.78 Mil.
Gross Profit was 0.038 + -0.645 + 0.076 + 0.151 = $-0.38 Mil.
Total Current Assets was $0.22 Mil.
Total Assets was $0.94 Mil.
Property, Plant and Equipment(Net PPE) was $0.11 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.38 Mil.
Selling, General, & Admin. Expense(SGA) was $0.00 Mil.
Total Current Liabilities was $9.17 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -1.017 + -1.364 + -0.826 + -1.684 = $-4.89 Mil.
Non Operating Income was 0.221 + -0.496 + -0.017 + -0.294 = $-0.59 Mil.
Cash Flow from Operations was -0.428 + -0.005 + -0.262 + -0.812 = $-1.51 Mil.

Total Receivables was $0.04 Mil.
Revenue was 0 + -5.075 + 1.232 + 2.17 = $-1.67 Mil.
Gross Profit was 0 + -2.391 + 0.416 + 1.28 = $-0.70 Mil.
Total Current Assets was $1.73 Mil.
Total Assets was $3.56 Mil.
Property, Plant and Equipment(Net PPE) was $0.59 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.71 Mil.
Selling, General, & Admin. Expense(SGA) was $0.93 Mil.
Total Current Liabilities was $9.16 Mil.
Long-Term Debt & Capital Lease Obligation was $0.17 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 / -0.781)	/	(0.039 / -1.673)
	=		/
	=

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)
	=	(-0.695 / -1.673)	/	(-0.38 / -0.781)
	=		/
	=

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 - (0.22 + 0.108) / 0.936)	/	(1 - (1.73 + 0.594) / 3.558)
	=	0.649573	/	0.346824
	=

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
	=	-0.781	/	-1.673
	=

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))
	=	(0.714 / (0.714 + 0.594))	/	(0.384 / (0.384 + 0.108))
	=	0.545872	/	0.780488
	=

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)
	=	(0 / -0.781)	/	(0.925 / -1.673)
	=		/
	=

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 + 9.168) / 0.936)	/	((0.173 + 9.162) / 3.558)
	=	9.794872	/	2.623665
	=

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
	=	(-4.891 - -0.586	-	-1.507)	/	0.936
	=	-2.989316

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.

GrowLife Beneish M-Score Related Terms

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GrowLife (GrowLife) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Distribution » GrowLife Inc (OTCPK:PHOT) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

11335 North East 122nd Way, Suite 105, Kirkland, WA, USA, 98034

Website

https://www.growlifeinc.com

GrowLife Inc. is a producer and supplier of gourmet fresh mushrooms, functional mushroom products, and mycological supplies.

Executives

David Dohrmann	director, officer: CEO, Interim CFO, President	11335 NE 122ND WAY, SUITE 105, KIRKLAND WA 98034
Michael E Fasci	director	PO BOX 800, E TAUNTON MA 02718
Thom Kozik	director	11335 NE 122ND WAY, SUITE 105, KIRKLAND WA 98034
Katherine Mclain	director	5400 CARILLON POINT, KIRKLAND WA 98033
Marco Hegyi	director, officer: President	C/O GROWLIFE, INC., 11335 NE 122ND WAY, SUITE 105, KIRKLAND WA 98034
Tara Antal	director	19950 WEST COUNTRY CLUB DR., 1ST FLOOR, AVENTURA FL 33180
Brad Fretti	director	19950 WEST COUNTRY CLUB DR., 1ST FLOOR, AVENTURA FL 33180
Sterling C. Scott	director, 10 percent owner, officer: Chief Executive Officer	717 E. GARDENA BLVD., GARDENA CA 90248
Joseph Barnes	officer: Sr. V.P. Business Development	500 UNION STREET, SUITE 406, SEATTLE WA 98101
Mark E Scott	director	C/O VISUALANT INC, 500 UNION STREET, SUITE 420, SEATTLE WA 98101
Alan R Hammer	director	3 FAWN DRIVE, LIVINGSTON NJ 07039
Robert E Hunt	director, officer: President	C/O GROWLIFE, INC., 20301 VENTURA BLVD., SUITE 126, WOODLAND HILLS CA 91364
Eric D Shevin	director	C/O GROWLIFE, INC., 20301 VENTURA BOULEVARD, SUITE 126, WOODLAND HILLS CA 91364
Anthony J Ciabattoni	director	16 LAGUNITA DRIVE, LAGUNA BEACH CA 92651
Jeffrey Giarraputo	director	2900 WYANDOT STREET, #102, DENVER CO 80211