AlphaGen Intelligence (AlphaGen Intelligence) Beneish M-Score : -1.47 (As of May. 24, 2024)

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What is AlphaGen Intelligence 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.

Warning Sign:

Beneish M-Score -1.47 higher than -1.78, which implies that the company might have manipulated its financial results.

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

APETF' s Beneish M-Score Range Over the Past 10 Years
Min: -1.47 Med: 1.65 Max: 6.85
Current: -1.47

During the past 4 years, the highest Beneish M-Score of AlphaGen Intelligence was 6.85. The lowest was -1.47. And the median was 1.65.

AlphaGen Intelligence Beneish M-Score Historical Data

The historical data trend for AlphaGen Intelligence'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.

AlphaGen Intelligence Beneish M-Score Chart

AlphaGen Intelligence Annual Data

Trend

Jun20

Jun21

Jun22

Jun23

Beneish M-Score

2.71

4.06

AlphaGen Intelligence Quarterly Data
	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial											-0.57	4.87	4.06	0.59	-1.47

Competitive Comparison of AlphaGen Intelligence's Beneish M-Score

For the Electronic Gaming & Multimedia subindustry, AlphaGen Intelligence'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.

AlphaGen Intelligence's Beneish M-Score Distribution in the Interactive Media Industry

For the Interactive Media industry and Communication Services sector, AlphaGen Intelligence's Beneish M-Score distribution charts can be found below:

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

AlphaGen Intelligence 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 AlphaGen Intelligence 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 * 0.1334

0.528 * 0.9676

0.404 * 1.0088

0.892 * 5.2577

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.1594

4.679 * -0.504702

0.327 * 0.5732

-1.57

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $0.12 Mil.
Revenue was 0.098 + 0.288 + 0.715 + 0.613 = $1.71 Mil.
Gross Profit was 0.066 + 0.191 + 0.457 + 0.351 = $1.07 Mil.
Total Current Assets was $0.43 Mil.
Total Assets was $2.23 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $1.49 Mil.
Total Current Liabilities was $0.44 Mil.
Long-Term Debt & Capital Lease Obligation was $0.05 Mil.
Net Income was -0.262 + -0.063 + -0.63 + 0.365 = $-0.59 Mil.
Non Operating Income was 0.004 + 0.004 + -0.026 + 0.233 = $0.22 Mil.
Cash Flow from Operations was -0.198 + 0.43 + -0.159 + 0.249 = $0.32 Mil.

Total Receivables was $0.17 Mil.
Revenue was 0.123 + 0.082 + 0.08 + 0.041 = $0.33 Mil.
Gross Profit was 0.082 + 0.058 + 0.037 + 0.019 = $0.20 Mil.
Total Current Assets was $0.44 Mil.
Total Assets was $2.22 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.29 Mil.
Selling, General, & Admin. Expense(SGA) was $1.78 Mil.
Total Current Liabilities was $0.79 Mil.
Long-Term Debt & Capital Lease Obligation was $0.05 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)
	=	(0.122 / 1.714)	/	(0.174 / 0.326)
	=	0.071179	/	0.533742
	=	0.1334

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)
	=	(0.196 / 0.326)	/	(1.065 / 1.714)
	=	0.601227	/	0.621354
	=	0.9676

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 - (0.425 + 0) / 2.233)	/	(1 - (0.439 + 0) / 2.224)
	=	0.809673	/	0.802608
	=	1.0088

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
	=	1.714	/	0.326
	=	5.2577

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))
	=	(0.292 / (0.292 + 0))	/	(0 / (0 + 0))
	=	1	/
	=	1

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)
	=	(1.494 / 1.714)	/	(1.783 / 0.326)
	=	0.871645	/	5.469325
	=	0.1594

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)
	=	((0.045 + 0.435) / 2.233)	/	((0.046 + 0.788) / 2.224)
	=	0.214957	/	0.375
	=	0.5732

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
	=	(-0.59 - 0.215	-	0.322)	/	2.233
	=	-0.504702

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.

AlphaGen Intelligence has a M-score of -1.57 signals that the company is likely to be a manipulator.

AlphaGen Intelligence Beneish M-Score Related Terms

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