Powerhouse Ventures (ASX:PVL) Beneish M-Score : -1.49 (As of Apr. 11, 2025)

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What is Powerhouse Ventures 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 -1.49 higher than -1.78, which implies that the company might have manipulated its financial results.

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

ASX:PVL' s Beneish M-Score Range Over the Past 10 Years
Min: -1.49 Med: -1.49 Max: -1.49
Current: -1.49

During the past 8 years, the highest Beneish M-Score of Powerhouse Ventures was -1.49. The lowest was -1.49. And the median was -1.49.

Powerhouse Ventures Beneish M-Score Historical Data

The historical data trend for Powerhouse Ventures'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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Powerhouse Ventures Beneish M-Score Chart

Powerhouse Ventures Annual Data

Trend

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

Beneish M-Score

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-1.49

Powerhouse Ventures Semi-Annual Data
	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24
Beneish M-Score	Get a 7-Day Free Trial												-	-	-	-1.49	-

Competitive Comparison of Powerhouse Ventures's Beneish M-Score

For the Asset Management subindustry, Powerhouse Ventures'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.

Powerhouse Ventures's Beneish M-Score Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Powerhouse Ventures's Beneish M-Score distribution charts can be found below:

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

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Powerhouse Ventures 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 Powerhouse Ventures 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 * 2.0847

0.528 * 1

0.404 * 1.0867

0.892 * 0.6786

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 2.0988

4.679 * 0.084916

0.327 * 0.9024

-1.49

This Year (Jun24) TTM:

Last Year (Jun23) TTM:

Total Receivables was A$0.12 Mil.
Revenue was A$0.95 Mil.
Gross Profit was A$0.95 Mil.
Total Current Assets was A$2.56 Mil.
Total Assets was A$11.16 Mil.
Property, Plant and Equipment(Net PPE) was A$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was A$0.14 Mil.
Total Current Liabilities was A$0.09 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.00 Mil.
Net Income was A$0.41 Mil.
Gross Profit was A$0.00 Mil.
Cash Flow from Operations was A$-0.54 Mil.

Total Receivables was A$0.08 Mil.
Revenue was A$1.40 Mil.
Gross Profit was A$1.40 Mil.
Total Current Assets was A$3.12 Mil.
Total Assets was A$10.75 Mil.
Property, Plant and Equipment(Net PPE) was A$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was A$0.10 Mil.
Total Current Liabilities was A$0.10 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)
	=	(0.116 / 0.948)	/	(0.082 / 1.397)
	=	0.122363	/	0.058697
	=	2.0847

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)
	=	(1.397 / 1.397)	/	(0.948 / 0.948)
	=	1	/	1
	=	1

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 - (2.556 + 0) / 11.164)	/	(1 - (3.121 + 0) / 10.746)
	=	0.77105	/	0.709566
	=	1.0867

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
	=	0.948	/	1.397
	=	0.6786

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 / (0 + 0))	/	(0 / (0 + 0))
	=		/
	=	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)
	=	(0.141 / 0.948)	/	(0.099 / 1.397)
	=	0.148734	/	0.070866
	=	2.0988

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 + 0.09) / 11.164)	/	((0 + 0.096) / 10.746)
	=	0.008062	/	0.008934
	=	0.9024

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
	=	(0.405 - 0	-	-0.543)	/	11.164
	=	0.084916

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.

Powerhouse Ventures has a M-score of -1.49 signals that the company is likely to be a manipulator.

Powerhouse Ventures Beneish M-Score Related Terms

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Powerhouse Ventures Business Description

Industry

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Address

Ground Floor, 477 Boundary Street, Spring Hill, Sydney, NSW, AUS, 4000

Website

https://www.phvl.com.au

Powerhouse Ventures Ltd is a venture capital firm specializing in incubation, early stage, and growth capital investments. The Company has operating one operating segment: investment in early stage companies using IP developed in emerging technologies such as electrification & decarbonisation, next generation computing, space technologies, and healthcare and wellness. The geographic segment is Australia. The company invests in deep-tech innovators solving global problems. The company invests in deep-tech innovators solving global problems.