Oneview Healthcare (ASX:ONE) Beneish M-Score : -0.82 (As of Jun. 06, 2024)

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What is Oneview Healthcare 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 -0.82 higher than -1.78, which implies that the company might have manipulated its financial results.

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

ASX:ONE' s Beneish M-Score Range Over the Past 10 Years
Min: -4.04 Med: -3.22 Max: -0.82
Current: -0.82

During the past 8 years, the highest Beneish M-Score of Oneview Healthcare was -0.82. The lowest was -4.04. And the median was -3.22.

Oneview Healthcare Beneish M-Score Historical Data

The historical data trend for Oneview Healthcare'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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Oneview Healthcare Beneish M-Score Chart

Oneview Healthcare Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-4.04

-2.64

-3.62

-3.64

-0.82

Oneview Healthcare Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Beneish M-Score	Get a 7-Day Free Trial											-3.62	-	-3.64	-	-0.82

Competitive Comparison of Oneview Healthcare's Beneish M-Score

For the Health Information Services subindustry, Oneview Healthcare'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.

Oneview Healthcare's Beneish M-Score Distribution in the Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Oneview Healthcare's Beneish M-Score distribution charts can be found below:

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

Oneview Healthcare 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 Oneview Healthcare 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 * 3.1815

0.528 * 0.9135

0.404 * 0.6125

0.892 * 1.0932

0.115 * 1.6398

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.7883

4.679 * -0.076227

0.327 * 0.9476

-0.82

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was A$9.30 Mil.
Revenue was A$15.31 Mil.
Gross Profit was A$10.04 Mil.
Total Current Assets was A$32.47 Mil.
Total Assets was A$35.71 Mil.
Property, Plant and Equipment(Net PPE) was A$1.69 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.79 Mil.
Selling, General, & Admin. Expense(SGA) was A$10.10 Mil.
Total Current Liabilities was A$19.12 Mil.
Long-Term Debt & Capital Lease Obligation was A$1.27 Mil.
Net Income was A$-14.56 Mil.
Gross Profit was A$0.00 Mil.
Cash Flow from Operations was A$-11.84 Mil.

Total Receivables was A$2.67 Mil.
Revenue was A$14.01 Mil.
Gross Profit was A$8.39 Mil.
Total Current Assets was A$17.64 Mil.
Total Assets was A$20.02 Mil.
Property, Plant and Equipment(Net PPE) was A$0.96 Mil.
Depreciation, Depletion and Amortization(DDA) was A$1.06 Mil.
Selling, General, & Admin. Expense(SGA) was A$11.72 Mil.
Total Current Liabilities was A$11.49 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.58 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)
	=	(9.3 / 15.31)	/	(2.674 / 14.005)
	=	0.607446	/	0.190932
	=	3.1815

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)
	=	(8.393 / 14.005)	/	(10.044 / 15.31)
	=	0.599286	/	0.656042
	=	0.9135

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 - (32.469 + 1.69) / 35.709)	/	(1 - (17.64 + 0.964) / 20.023)
	=	0.043406	/	0.070869
	=	0.6125

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
	=	15.31	/	14.005
	=	1.0932

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))
	=	(1.058 / (1.058 + 0.964))	/	(0.792 / (0.792 + 1.69))
	=	0.523244	/	0.319098
	=	1.6398

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)
	=	(10.095 / 15.31)	/	(11.715 / 14.005)
	=	0.659373	/	0.836487
	=	0.7883

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)
	=	((1.274 + 19.122) / 35.709)	/	((0.582 + 11.487) / 20.023)
	=	0.571173	/	0.602757
	=	0.9476

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
	=	(-14.557 - 0	-	-11.835)	/	35.709
	=	-0.076227

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.

Oneview Healthcare has a M-score of -0.82 signals that the company is likely to be a manipulator.

Oneview Healthcare Beneish M-Score Related Terms

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Oneview Healthcare (ASX:ONE) Business Description

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ONVVF:USA

Address

Temple Road, 2nd Floor, Avoca Court, Blackrock Co, Dublin, IRL, A94 R7W3

Website

https://www.oneviewhealthcare.com

Oneview Healthcare PLC provides patient engagement and clinical workflow technology solutions to healthcare facilities. It provides various solutions such as Inpatient Solution, Outpatient Solution, Clinical Pathways, and others. The company generates its revenue in the form of software usage and content revenue, support income, and license fees. Geographically the company operates in Ireland, the United States, Australia, and the Middle East, and Asia. Generating, a majority of its revenue is from Australia. The group has one reportable segment which provides a patient engagement solution for the healthcare sector.