Affinity Beverage Group (Affinity Beverage Group) Beneish M-Score : 0.00 (As of Jun. 21, 2024)

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

During the past 6 years, the highest Beneish M-Score of Affinity Beverage Group was 0.00. The lowest was 0.00. And the median was 0.00.

Affinity Beverage Group Beneish M-Score Historical Data

The historical data trend for Affinity Beverage Group'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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Affinity Beverage Group Beneish M-Score Chart

Affinity Beverage Group Annual Data

Trend

Dec00

Dec01

Dec02

Dec03

Dec04

Dec05

Beneish M-Score

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Affinity Beverage Group Quarterly Data
	Dec01	Mar02	Jun02	Sep02	Dec02	Mar03	Jun03	Sep03	Dec03	Mar04	Jun04	Sep04	Dec04	Mar05	Jun05	Sep05	Dec05	Mar06	Jun06	Sep06
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of Affinity Beverage Group's Beneish M-Score

For the Beverages - Non-Alcoholic subindustry, Affinity Beverage Group'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.

Affinity Beverage Group's Beneish M-Score Distribution in the Beverages - Non-Alcoholic Industry

For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, Affinity Beverage Group's Beneish M-Score distribution charts can be found below:

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

Affinity Beverage Group 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 Affinity Beverage Group 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 (Sep06) TTM:

Last Year (Sep05) TTM:

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $1.95 Mil.
Property, Plant and Equipment(Net PPE) was $1.91 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.07 Mil.
Selling, General, & Admin. Expense(SGA) was $0.53 Mil.
Total Current Liabilities was $1.74 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -5.711 + -0.233 + -0.305 + -0.548 = $-6.80 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was -0.046 + -0.597 + -0.091 + -0.372 = $-1.11 Mil.

Total Receivables was $0.16 Mil.
Revenue was 0 + 0.19 + 0.073 + 0.931 = $1.19 Mil.
Gross Profit was 0 + 0.027 + 0.007 + 0.401 = $0.44 Mil.
Total Current Assets was $1.32 Mil.
Total Assets was $9.09 Mil.
Property, Plant and Equipment(Net PPE) was $4.64 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.36 Mil.
Selling, General, & Admin. Expense(SGA) was $0.99 Mil.
Total Current Liabilities was $2.01 Mil.
Long-Term Debt & Capital Lease Obligation was $0.93 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)	/	(0.164 / 1.194)
	=		/	0.137353
	=

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)
	=	(0.435 / 1.194)	/	(0 / 0)
	=	0.364322	/
	=

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 + 1.906) / 1.95)	/	(1 - (1.321 + 4.641) / 9.086)
	=	0.022564	/	0.343826
	=

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	/	1.194
	=

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))
	=	(0.355 / (0.355 + 4.641))	/	(0.068 / (0.068 + 1.906))
	=	0.071057	/	0.034448
	=

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)
	=	(0.526 / 0)	/	(0.991 / 1.194)
	=		/	0.829983
	=

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 + 1.74) / 1.95)	/	((0.927 + 2.014) / 9.086)
	=	0.892308	/	0.323685
	=

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
	=	(-6.797 - 0	-	-1.106)	/	1.95
	=	-2.918462

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.

Affinity Beverage Group Beneish M-Score Related Terms

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Affinity Beverage Group (Affinity Beverage Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Beverages - Non-Alcoholic » Affinity Beverage Group Inc (GREY:ABVG) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

2360 Corporate Circle, Suite 400, Henderson, NV, USA, 89074

Website

http://www.affinitybeverage.com

Affinity Beverage Group Inc is focused on branded consumer product acquisition opportunities in the health and wellness sector. The company primarily targets lifestyle brands, companies, and exclusive brand distribution rights focusing on traditional and non-traditional, healthy beverage options. It will also seek opportunities in young brands specializing in all natural/organic foods, bio-food, supplements and personal care products for strategic partnerships, distribution agreements, and potential acquisition.

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