Lithium Energy (ASX:LEL) Beneish M-Score : 0.00 (As of Sep. 21, 2024)

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

During the past 3 years, the highest Beneish M-Score of Lithium Energy was 0.00. The lowest was 0.00. And the median was 0.00.

Lithium Energy Beneish M-Score Historical Data

The historical data trend for Lithium Energy'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.

Lithium Energy Beneish M-Score Chart

Lithium Energy Annual Data

Trend

Jun21

Jun22

Jun23

Beneish M-Score

Lithium Energy Semi-Annual Data
	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Beneish M-Score	Get a 7-Day Free Trial			-	-	-	-	-

Competitive Comparison of Lithium Energy's Beneish M-Score

For the Other Industrial Metals & Mining subindustry, Lithium Energy'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.

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

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

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

Lithium Energy 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 Lithium Energy 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 (Jun23) TTM:

Last Year (Jun22) TTM:

Total Receivables was A$0.49 Mil.
Revenue was A$0.00 Mil.
Gross Profit was A$0.00 Mil.
Total Current Assets was A$10.07 Mil.
Total Assets was A$33.32 Mil.
Property, Plant and Equipment(Net PPE) was A$21.47 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.01 Mil.
Selling, General, & Admin. Expense(SGA) was A$11.90 Mil.
Total Current Liabilities was A$1.20 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.00 Mil.
Net Income was A$-11.62 Mil.
Gross Profit was A$0.19 Mil.
Cash Flow from Operations was A$-3.89 Mil.

Total Receivables was A$0.22 Mil.
Revenue was A$0.00 Mil.
Gross Profit was A$0.00 Mil.
Total Current Assets was A$6.89 Mil.
Total Assets was A$14.25 Mil.
Property, Plant and Equipment(Net PPE) was A$7.36 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was A$2.20 Mil.
Total Current Liabilities was A$0.17 Mil.
Long-Term Debt & Capital Lease Obligation was A$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)
	=	(0.485 / 0)	/	(0.22 / 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 - (10.065 + 21.466) / 33.32)	/	(1 - (6.893 + 7.361) / 14.253)
	=	0.053691	/	-7.0E-5
	=

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))
	=	(0.003 / (0.003 + 7.361))	/	(0.011 / (0.011 + 21.466))
	=	0.000407	/	0.000512
	=

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)
	=	(11.899 / 0)	/	(2.202 / 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 + 1.196) / 33.32)	/	((0 + 0.167) / 14.253)
	=	0.035894	/	0.011717
	=

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
	=	(-11.619 - 0.191	-	-3.894)	/	33.32
	=	-0.237575

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.

Lithium Energy Beneish M-Score Related Terms

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Lithium Energy Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Lithium Energy Ltd (ASX:LEL) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

680 Murray Street, Suite 1, Level 1, West Perth, WA, AUS, 6005

Website

https://www.lithiumenergy.com.au

Lithium Energy Ltd is a battery minerals company with two exploration and development projects, the Solaroz Lithium Project in Argentina, which comprises 12,000 hectares of prospective lithium mineral concessions, and the Burke Graphite Project in Queensland, which contains a high-grade graphite deposit and presents an opportunity to participate in the anticipated growth in demand for graphite and graphite related products. The company derives the majority of its revenue from Argentina.

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