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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 Scandium International Mining's Beneish M-Score or its related term are showing as below:
During the past 13 years, the highest Beneish M-Score of Scandium International Mining was 0.00. The lowest was 0.00. And the median was 0.00.
The historical data trend for Scandium International Mining'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.
Scandium International Mining Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Beneish M-Score | Get a 7-Day Free Trial | - | - | - | - | - |
Scandium International Mining Quarterly Data | ||||||||||||||||||||
Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
Beneish M-Score | Get a 7-Day Free Trial | - | - | - | - | - |
For the Other Industrial Metals & Mining subindustry, Scandium International Mining'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.
For the Metals & Mining industry and Basic Materials sector, Scandium International Mining's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Scandium International Mining's Beneish M-Score falls into.
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 Scandium International Mining for today is based on a combination of the following eight different indices:
M | = | -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 * | |||||||
= |
* 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.
This Year (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was $0.03 Mil. Revenue was 0 + 0 + 0 + 0 = $0.00 Mil. Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil. Total Current Assets was $0.94 Mil. Total Assets was $1.65 Mil. Property, Plant and Equipment(Net PPE) was $0.70 Mil. Depreciation, Depletion and Amortization(DDA) was $0.00 Mil. Selling, General, & Admin. Expense(SGA) was $0.61 Mil. Total Current Liabilities was $0.37 Mil. Long-Term Debt & Capital Lease Obligation was $0.00 Mil. Net Income was -0.151 + -0.134 + 0.075 + -0.13 = $-0.34 Mil. Non Operating Income was -0.056 + 0.202 + 0.197 + 0.111 = $0.45 Mil. Cash Flow from Operations was -0.114 + -0.113 + -0.226 + -0.184 = $-0.64 Mil. |
Total Receivables was $0.00 Mil. Revenue was 0 + 0 + 0 + 0 = $0.00 Mil. Gross Profit was 0 + 0 + 0 + -0.003 = $-0.00 Mil. Total Current Assets was $1.58 Mil. Total Assets was $2.29 Mil. Property, Plant and Equipment(Net PPE) was $0.70 Mil. Depreciation, Depletion and Amortization(DDA) was $0.00 Mil. Selling, General, & Admin. Expense(SGA) was $0.63 Mil. Total Current Liabilities was $0.05 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) |
= | (0.028 / 0) | / | (0 / 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) | |
= | (-0.003 / 0) | / | (0 / 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 - (0.936 + 0.704) / 1.651) | / | (1 - (1.581 + 0.704) / 2.293) | |
= | 0.006663 | / | 0.003489 | |
= |
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)) |
= | (0.003 / (0.003 + 0.704)) | / | (0 / (0 + 0.704)) | |
= | 0.004243 | / | 0 | |
= |
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) |
= | (0.611 / 0) | / | (0.625 / 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 + 0.374) / 1.651) | / | ((0 + 0.051) / 2.293) | |
= | 0.226529 | / | 0.022242 | |
= |
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 | |
= | (-0.34 - 0.454 | - | -0.637) | / | 1.651 | |
= | -0.095094 |
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.
Thank you for viewing the detailed overview of Scandium International Mining's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Peter Banghart Evensen | director | C/O SCANDIUM INTERNATIONAL MINING CORP., 1430 GREG STREET, SUITE 501, SPARKS NV 89431 |
Rolf Christian Evensen | director | C/O SCANDIUM INTERNATIONAL MINING CORP., 1430 GREG STREET, SUITE 501, SPARKS NV 89431 |
Scandium Investments Llc | 10 percent owner | C/O SHENASSA & COMPANY, 11620 WILSHIRE BLVD., SUITE 460, LOS ANGELES CA 90025 |
Nigel J. Ricketts | officer: Vice President | 453 GEORGE HOLT DRIVE, MT CROSBY, QLD C3 4306 |
Andrew Carlyle Greig | director | 1 MACQUARIE ST, TENERIFFE, QLD C3 4005 |
James Richard Rothwell | director | 472 S STATE STREET, SUITE 201, BELLINGHAM WA 98225 |
Kudu Partners Lp | 10 percent owner | 2310 N. MOLTER ROAD, #309, LIBERTY LAKE WA 99019 |
Adam Knight | officer: Vice President | 552 12TH STREET, ELKO NV 89801 |
John Grubb | director | 8325 OLD AZTEC HIGHWAY, FLORA VISTA NM 87415 |
Warren K. Davis | director | 10553 SNOW SHOE CIRCLE, TRUCKEE CA 96161 |
Edward H Dickinson | officer: Chief Financial Officer | 1430 GREG ST. STE. 501, SPARKS NV 89431 |
Daniel E Wolfus | director | 10350 WILSHIRE BLVD, #1604, LOS ANGELES CA 90024 |
Michael C. O'brien | officer: CFO | 888 DUNSMUIR STREET, 11TH FLOOR, VANCOUVER A1 V6C 3K4 |
Barry T. Davies | director | #502 - 1430 GREY STREET, SPARKS NV 89431 |
George F. Putnam | director, officer: CEO & President | #502 - 1430 GREG STREET, SPARKS NV 89431 |
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