Tribe Property Technologies (TSXV:TRBE) Beneish M-Score : -4.72 (As of May. 21, 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 -4.72 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:

TSXV:TRBE' s Beneish M-Score Range Over the Past 10 Years
Min: -4.72 Med: -3.44 Max: -2.15
Current: -4.72

During the past 4 years, the highest Beneish M-Score of Tribe Property Technologies was -2.15. The lowest was -4.72. And the median was -3.44.

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.

* Premium members only.

Tribe Property Technologies Beneish M-Score Chart

Tribe Property Technologies Annual Data

Trend

Apr20

Dec21

Dec22

Dec23

Beneish M-Score

-2.15

-4.72

Tribe Property Technologies Quarterly Data
	Jan20	Apr20	Sep20	Jan21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial										-2.15	-1.73	-2.32	-3.58	-4.72

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 * 1.4237

0.528 * 0.6631

0.404 * 1.1346

0.892 * 1.0595

0.115 * 0.927

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.6244

4.679 * -0.468885

0.327 * 2.2987

-4.72

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was C$1.53 Mil.
Revenue was 5.11 + 4.799 + 4.821 + 4.659 = C$19.39 Mil.
Gross Profit was 1.538 + 1.87 + 4.821 + 1.828 = C$10.06 Mil.
Total Current Assets was C$3.05 Mil.
Total Assets was C$14.40 Mil.
Property, Plant and Equipment(Net PPE) was C$3.56 Mil.
Depreciation, Depletion and Amortization(DDA) was C$1.42 Mil.
Selling, General, & Admin. Expense(SGA) was C$9.83 Mil.
Total Current Liabilities was C$6.91 Mil.
Long-Term Debt & Capital Lease Obligation was C$3.74 Mil.
Net Income was -6.968 + -2.071 + -2.715 + -2.412 = C$-14.17 Mil.
Non Operating Income was -5.011 + -0.003 + 0 + 0.007 = C$-5.01 Mil.
Cash Flow from Operations was 0 + 0 + 0 + -2.408 = C$-2.41 Mil.

Total Receivables was C$1.01 Mil.
Revenue was 4.748 + 4.529 + 4.821 + 4.202 = C$18.30 Mil.
Gross Profit was 1.173 + 1.586 + 1.7 + 1.835 = C$6.29 Mil.
Total Current Assets was C$9.63 Mil.
Total Assets was C$26.06 Mil.
Property, Plant and Equipment(Net PPE) was C$4.00 Mil.
Depreciation, Depletion and Amortization(DDA) was C$1.44 Mil.
Selling, General, & Admin. Expense(SGA) was C$14.85 Mil.
Total Current Liabilities was C$3.18 Mil.
Long-Term Debt & Capital Lease Obligation was C$5.20 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)
	=	(1.528 / 19.389)	/	(1.013 / 18.3)
	=	0.078808	/	0.055355
	=	1.4237

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)
	=	(6.294 / 18.3)	/	(10.057 / 19.389)
	=	0.343934	/	0.518696
	=	0.6631

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 - (3.049 + 3.558) / 14.398)	/	(1 - (9.629 + 4) / 26.055)
	=	0.541117	/	0.476914
	=	1.1346

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
	=	19.389	/	18.3
	=	1.0595

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))
	=	(1.441 / (1.441 + 4))	/	(1.423 / (1.423 + 3.558))
	=	0.264841	/	0.285686
	=	0.927

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)
	=	(9.826 / 19.389)	/	(14.854 / 18.3)
	=	0.506782	/	0.811694
	=	0.6244

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)
	=	((3.738 + 6.907) / 14.398)	/	((5.2 + 3.18) / 26.055)
	=	0.739339	/	0.321627
	=	2.2987

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
	=	(-14.166 - -5.007	-	-2.408)	/	14.398
	=	-0.468885

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 -4.72 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 (TSXV:TRBE) Business Description

Industry

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

Comparable Companies

Traded in Other Exchanges

TRPTF:USA

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.

Executives

Joseph Nakhla

10% Security Holder, Director, Senior Officer

Tribe Property Technologies (TSXV:TRBE) Headlines

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