GURUFOCUS.COM » STOCK LIST » USA » AMEX » BM Technologies Inc (AMEX:BMTX) » Definitions » Beneish M-Score
Switch to:

BM Technologies Beneish M-Score

: -4.19 (As of Today)
View and export this data going back to 2021. Start your Free Trial

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 -4.19 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

BMTX' s Beneish M-Score Range Over the Past 10 Years
Min: -4.19   Med: -4.19   Max: -4.19
Current: -4.19

During the past 3 years, the highest Beneish M-Score of BM Technologies was -4.19. The lowest was -4.19. And the median was -4.19.


BM Technologies Beneish M-Score Historical Data

The historical data trend for BM 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.

BM Technologies Annual Data
Trend Dec19 Dec20 Dec21
Beneish M-Score
- - -4.19

BM Technologies Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21
Beneish M-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - - - -4.19

Competitive Comparison

For the Software - Application subindustry, BM 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.

   

BM Technologies Beneish M-Score Distribution

For the Software industry and Technology sector, BM Technologies's Beneish M-Score distribution charts can be found below:

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



BM 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 BM Technologies 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 * 0.6386+0.528 * 0.8022+0.404 * 0.6761+0.892 * 1.4298+0.115 * 0.997
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9317+4.679 * -0.3619-0.327 * 0.5337
=-4.19

* 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 (Dec21) TTM:Last Year (Dec20) TTM:
Total Receivables was $9.16 Mil.
Revenue was 25.737 + 21.974 + 22.893 + 24.383 = $94.99 Mil.
Gross Profit was 18.4 + 16.361 + 13.783 + 15.256 = $63.80 Mil.
Total Current Assets was $36.64 Mil.
Total Assets was $76.43 Mil.
Property, Plant and Equipment(Net PPE) was $0.35 Mil.
Depreciation, Depletion and Amortization(DDA) was $12.78 Mil.
Selling, General, & Admin. Expense(SGA) was $50.28 Mil.
Total Current Liabilities was $24.64 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -8.804 + 8.794 + -1.836 + 18.889 = $17.04 Mil.
Non Operating Income was -0.829 + 6.042 + -3.056 + 15.003 = $17.16 Mil.
Cash Flow from Operations was 5.461 + 1.176 + 11.387 + 9.519 = $27.54 Mil.
Total Receivables was $10.03 Mil.
Revenue was 16.909 + 18.338 + 15.431 + 15.758 = $66.44 Mil.
Gross Profit was 7.572 + 11.506 + 7.089 + 9.629 = $35.80 Mil.
Total Current Assets was $15.37 Mil.
Total Assets was $66.61 Mil.
Property, Plant and Equipment(Net PPE) was $0.40 Mil.
Depreciation, Depletion and Amortization(DDA) was $13.27 Mil.
Selling, General, & Admin. Expense(SGA) was $37.75 Mil.
Total Current Liabilities was $39.81 Mil.
Long-Term Debt & Capital Lease Obligation was $0.43 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)
=(9.161 / 94.987) / (10.033 / 66.436)
=0.09644478 / 0.15101752
=0.6386

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)
=(35.796 / 66.436) / (63.8 / 94.987)
=0.53880426 / 0.67167086
=0.8022

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 - (36.644 + 0.346) / 76.428) / (1 - (15.37 + 0.401) / 66.61)
=0.51601507 / 0.76323375
=0.6761

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
=94.987 / 66.436
=1.4298

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))
=(13.274 / (13.274 + 0.401)) / (12.778 / (12.778 + 0.346))
=0.97067642 / 0.97363609
=0.997

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)
=(50.282 / 94.987) / (37.748 / 66.436)
=0.52935665 / 0.56818592
=0.9317

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 + 24.643) / 76.428) / ((0.43 + 39.81) / 66.61)
=0.32243419 / 0.6041135
=0.5337

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
=(17.043 - 17.16 - 27.543) / 76.428
=-0.3619

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.

BM Technologies has a M-score of -4.19 suggests that the company is unlikely to be a manipulator.


BM Technologies Beneish M-Score Related Terms

Thank you for viewing the detailed overview of BM Technologies's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


BM Technologies Business Description

BM Technologies logo
Traded in Other Exchanges
Address
535 5th Ave, 29th Floor, New York, NY, USA, 10017
BM Technologies Inc is a digital banking platform in the United States. It provides a suite of low-cost products, including checking & savings accounts, to consumers through its business-to-business-to-customer distribution model by connecting consumers to an FDIC-insured banking institution.
Executives
Dolan John J director 4655 SALISBURY ROAD SUITE 110 JACKSONVILLE FL 32256
Dullinger James Francis officer: Chief Accounting Officer C/O IOTA COMMUNICATIONS, INC. 645 HAMILTON STREET, SUITE 400 ALLENTOWN PA 18101
Schechter Private Capital, Llc 10 percent owner 251 PIERCE STREET BIRMINGHAM MI 48009
Dinodia Pankaj director 201 KING OF PRUSSIA ROAD SUITE 350 WAYNE PA 19087
Ramsey Robert H officer: Chief Financial Officer 201 KING OF PRUSSIA ROAD SUITE 350 WAYNE PA 19087
Schwab Marcy director 201 KING OF PRUSSIA ROAD SUITE 350 WAYNE PA 19087
Hurley Brent director 201 KING OF PRUSSIA ROAD SUITE 350 WAYNE PA 19087
Diegel Robert officer: Chief Operating Officer 201 KING OF PRUSSIA ROAD SUITE 350 WAYNE PA 19087
Gill Mike director 201 KING OF PRUSSIA ROAD SUITE 350 WAYNE PA 19087
Hodari Aaron director 201 KING OF PRUSSIA ROAD SUITE 350 WAYNE PA 19087
Sidhu Luvleen director, officer: Chief Executive Officer 201 KING OF PRUSSIA ROAD SUITE 350 WAYNE PA 19087
Millennium Management Llc other: May be deemed a group member. 399 PARK AVENUE NEW YORK NY 10022
Millennium Group Management Llc other: May be deemed a group member. C/O MILLENNIUM MANAGEMENT LLC 399 PARK AVENUE NEW YORK NY 10022
Integrated Core Strategies (us) Llc 10 percent owner C/O MILLENNIUM MANAGEMENT LLC 399 PARK AVENUE NEW YORK NY 10022
Englander Israel A other: May be deemed a group member. C/O MILLENNIUM MANAGEMENT LLC 399 PARK AVENUE NEW YORK NY 10022

BM Technologies Headlines

From GuruFocus

Other Sources

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)