Advanced Battery Technologies (Advanced Battery Technologies) Beneish M-Score : 0.00 (As of Apr. 27, 2024)

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What is Advanced Battery 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.

The historical rank and industry rank for Advanced Battery Technologies's Beneish M-Score or its related term are showing as below:

During the past 11 years, the highest Beneish M-Score of Advanced Battery Technologies was 0.00. The lowest was 0.00. And the median was 0.00.

Advanced Battery Technologies Beneish M-Score Historical Data

The historical data trend for Advanced Battery 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.

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Advanced Battery Technologies Beneish M-Score Chart

Advanced Battery Technologies Annual Data

Trend

Jun01

Jun02

Jun03

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Beneish M-Score

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-2.60

-0.15

-2.86

-2.06

-3.67

Advanced Battery Technologies Semi-Annual Data
	Jun00	Jun01	Jun02	Jun03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10
Beneish M-Score	Get a 7-Day Free Trial						-2.60	-0.15	-2.86	-2.06	-3.67

Competitive Comparison of Advanced Battery Technologies's Beneish M-Score

For the Specialty Industrial Machinery subindustry, Advanced Battery 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.

Advanced Battery Technologies's Beneish M-Score Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Advanced Battery Technologies's Beneish M-Score distribution charts can be found below:

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

Advanced Battery 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 Advanced Battery 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 * 0.4873

0.528 * 0.9453

0.404 * 0.9926

0.892 * 1.5281

0.115 * 0.7887

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.519

4.679 * -0.090502

0.327 * 1.0155

-2.88

This Year (Dec10) TTM:

Last Year (Dec09) TTM:

Total Receivables was $17.96 Mil.
Revenue was $97.13 Mil.
Gross Profit was $45.90 Mil.
Total Current Assets was $138.77 Mil.
Total Assets was $227.60 Mil.
Property, Plant and Equipment(Net PPE) was $57.45 Mil.
Depreciation, Depletion and Amortization(DDA) was $4.12 Mil.
Selling, General, & Admin. Expense(SGA) was $7.84 Mil.
Total Current Liabilities was $7.62 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was $36.73 Mil.
Gross Profit was $5.73 Mil.
Cash Flow from Operations was $51.60 Mil.

Total Receivables was $24.12 Mil.
Revenue was $63.56 Mil.
Gross Profit was $28.39 Mil.
Total Current Assets was $88.66 Mil.
Total Assets was $157.83 Mil.
Property, Plant and Equipment(Net PPE) was $47.25 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.63 Mil.
Selling, General, & Admin. Expense(SGA) was $9.89 Mil.
Total Current Liabilities was $5.20 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)
	=	(17.957 / 97.129)	/	(24.115 / 63.562)
	=	0.184878	/	0.379393
	=	0.4873

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)
	=	(28.392 / 63.562)	/	(45.897 / 97.129)
	=	0.446682	/	0.472537
	=	0.9453

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 - (138.772 + 57.452) / 227.598)	/	(1 - (88.658 + 47.249) / 157.826)
	=	0.137848	/	0.138881
	=	0.9926

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
	=	97.129	/	63.562
	=	1.5281

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))
	=	(2.63 / (2.63 + 47.249))	/	(4.116 / (4.116 + 57.452))
	=	0.052728	/	0.066853
	=	0.7887

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)
	=	(7.843 / 97.129)	/	(9.89 / 63.562)
	=	0.080748	/	0.155596
	=	0.519

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 + 7.621) / 227.598)	/	((0 + 5.204) / 157.826)
	=	0.033484	/	0.032973
	=	1.0155

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
	=	(36.726 - 5.729	-	51.595)	/	227.598
	=	-0.090502

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.

Advanced Battery Technologies has a M-score of -2.88 suggests that the company is unlikely to be a manipulator.

Advanced Battery Technologies Beneish M-Score Related Terms

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Advanced Battery Technologies (Advanced Battery Technologies) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Advanced Battery Technologies Inc (OTCPK:ABAT) » Definitions » Beneish M-Score

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Address

Website

http://www.zqpt.com

Advanced Battery Technologies Inc was incorporated in the State of Delaware on January 16, 1984. It is a holding company, which is engaged in design, manufacture and distribution of rechargeable polymer lithium-ion batteries and electric vehicles through its wholly owned subsidiaries, Cashtech, ZQPT, Wuxi ZQ and the VIE, HLJ ZQPT. ZQ Power-Tech designs, manufactures and markets rechargeable polymer lithium-ion batteries. PLI batteries produce a relatively high average of 3.8 volts per cell, which makes them attractive in terms of both weight and volume. Additionally, they can be manufactured in very thin configurations and with large footprints. PLI cells can be configured in almost any prismatic shape, and can be made thinner than 0.0195 inches to fill virtually any shape efficiently. This combination of power and versatility makes rechargeable PLI batteries particularly attractive for use in consumer products such as portable computers, personal digital assistants and cellular telephones. ZQ Power-Techs batteries combine high-energy chemistry with state-of-the-art polymer technology. Every battery component is solid, which means that there are no liquids that need to be contained by heavy cell housings. The result is a safe, thin, lightweight rechargeable battery with an operating temperature range. Similar to lithium-ion prismatic rechargeable cells, the ZQ Power-Tech polymer cells do not exhibit a memory problem. This means that they can be recharged at any state of charge, without first having to be completely discharged. At the present time, ZQ Power-Tech produces only one finished product. This is a cordless miners lamp equipped with a rechargeable PLI battery. The Companys operating subsidiaries, ZQ Power-Tech and Wuxi ZQ, are subject to numerous Chinese provincial and local laws and regulations relating to the protection of the environment.

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