Legend Mining (ASX:LEG) Beneish M-Score : 0.00 (As of Dec. 14, 2024)

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What is Legend Mining 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 Legend Mining's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Legend Mining was 0.00. The lowest was 0.00. And the median was 0.00.

Legend Mining Beneish M-Score Historical Data

The historical data trend for Legend Mining'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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Legend Mining Beneish M-Score Chart

Legend Mining Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec23

Beneish M-Score

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Legend Mining Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Jun23	Dec23	Jun24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of Legend Mining's Beneish M-Score

For the Other Industrial Metals & Mining subindustry, Legend Mining'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.

Legend Mining's Beneish M-Score Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Legend Mining's Beneish M-Score distribution charts can be found below:

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

Legend Mining 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 Legend Mining 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 (Dec23) TTM:

Last Year (Dec21) TTM:

Total Receivables was A$3.17 Mil.
Revenue was A$0.00 Mil.
Gross Profit was A$0.00 Mil.
Total Current Assets was A$14.80 Mil.
Total Assets was A$55.22 Mil.
Property, Plant and Equipment(Net PPE) was A$40.42 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.08 Mil.
Selling, General, & Admin. Expense(SGA) was A$1.80 Mil.
Total Current Liabilities was A$0.91 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.02 Mil.
Net Income was A$-5.02 Mil.
Gross Profit was A$0.05 Mil.
Cash Flow from Operations was A$-0.78 Mil.

Total Receivables was A$0.03 Mil.
Revenue was A$0.00 Mil.
Gross Profit was A$0.00 Mil.
Total Current Assets was A$18.39 Mil.
Total Assets was A$54.20 Mil.
Property, Plant and Equipment(Net PPE) was A$35.80 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.08 Mil.
Selling, General, & Admin. Expense(SGA) was A$1.28 Mil.
Total Current Liabilities was A$0.60 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.02 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)
	=	(3.174 / 0)	/	(0.034 / 0)
	=		/
	=

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 / 0)	/	(0 / 0)
	=		/
	=

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 - (14.8 + 40.418) / 55.224)	/	(1 - (18.392 + 35.797) / 54.195)
	=	0.000109	/	0.000111
	=

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	/	0
	=

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))
	=	(0.078 / (0.078 + 35.797))	/	(0.076 / (0.076 + 40.418))
	=	0.002174	/	0.001877
	=

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)
	=	(1.803 / 0)	/	(1.283 / 0)
	=		/
	=

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)
	=	((0.018 + 0.906) / 55.224)	/	((0.016 + 0.597) / 54.195)
	=	0.016732	/	0.011311
	=

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
	=	(-5.019 - 0.051	-	-0.776)	/	55.224
	=	-0.077756

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.

Legend Mining Beneish M-Score Related Terms

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Legend Mining Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

N/A

Address

8 Kings Park Road, Level 1, West Perth, Perth, WA, AUS, 6005

Website

https://www.legendmining.com.au

Legend Mining Ltd is a mineral exploration company. The Company is engaged in exploration for nickel and copper deposits in Australia. Its project Fraser Range- Rockford Project is located in the prospective Fraser Range district of Western Australia. The group has one reportable operating segment, being exploration and evaluation activities in Australia.