Teaminvest Private Group (ASX:TIP) Beneish M-Score : -8.14 (As of Apr. 04, 2025)

View and export this data going back to 2019. Start your Free Trial

What is Teaminvest Private Group Beneish M-Score?

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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.

Good Sign:

Beneish M-Score -8.14 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

ASX:TIP' s Beneish M-Score Range Over the Past 10 Years
Min: -8.14 Med: -2.83 Max: -2.17
Current: -8.14

During the past 6 years, the highest Beneish M-Score of Teaminvest Private Group was -2.17. The lowest was -8.14. And the median was -2.83.

Teaminvest Private Group 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 Teaminvest Private Group 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 * 1.1454

0.528 * 1

0.404 * 0.846

0.892 * 0.9724

0.115 * 2.3644

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0316

4.679 * -0.061173

0.327 * 18.054

-8.14

* 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.

This Year (Jun24) TTM:

Last Year (Jun23) TTM:

Total Receivables was A$11.9 Mil.
Revenue was A$105.1 Mil.
Gross Profit was A$105.1 Mil.
Total Current Assets was A$0.0 Mil.
Total Assets was A$134.0 Mil.
Property, Plant and Equipment(Net PPE) was A$27.5 Mil.
Depreciation, Depletion and Amortization(DDA) was A$4.4 Mil.
Selling, General, & Admin. Expense(SGA) was A$49.8 Mil.
Total Current Liabilities was A$0.0 Mil.
Long-Term Debt & Capital Lease Obligation was A$19.1 Mil.
Net Income was A$-2.2 Mil.
Gross Profit was A$0.0 Mil.
Cash Flow from Operations was A$6.0 Mil.

Total Receivables was A$10.7 Mil.
Revenue was A$108.1 Mil.
Gross Profit was A$108.1 Mil.
Total Current Assets was A$0.0 Mil.
Total Assets was A$123.7 Mil.
Property, Plant and Equipment(Net PPE) was A$7.5 Mil.
Depreciation, Depletion and Amortization(DDA) was A$3.6 Mil.
Selling, General, & Admin. Expense(SGA) was A$49.7 Mil.
Total Current Liabilities was A$0.0 Mil.
Long-Term Debt & Capital Lease Obligation was A$1.0 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)
	=	(11.874 / 105.11)	/	(10.661 / 108.091)
	=	0.112967	/	0.09863
	=	1.1454

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)
	=	(108.091 / 108.091)	/	(105.11 / 105.11)
	=	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 - (0 + 27.497) / 133.98)	/	(1 - (0 + 7.487) / 123.671)
	=	0.794768	/	0.93946
	=	0.846

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
	=	105.11	/	108.091
	=	0.9724

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))
	=	(3.587 / (3.587 + 7.487))	/	(4.365 / (4.365 + 27.497))
	=	0.323912	/	0.136997
	=	2.3644

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)
	=	(49.846 / 105.11)	/	(49.689 / 108.091)
	=	0.474227	/	0.459696
	=	1.0316

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)
	=	((19.051 + 0) / 133.98)	/	((0.974 + 0) / 123.671)
	=	0.142193	/	0.007876
	=	18.054

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
	=	(-2.213 - 0	-	5.983)	/	133.98
	=	-0.061173

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.

Teaminvest Private Group has a M-score of -8.14 suggests that the company is unlikely to be a manipulator.

Teaminvest Private Group Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Teaminvest Private Group's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Teaminvest Private Group Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Teaminvest Private Group Ltd (ASX:TIP) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

23 Ryde Road, Ground Floor Suite 2, Pymble, Pymble, NSW, AUS, 2073

Website

https://www.tipgroup.com.au

Teaminvest Private Group Ltd is a specialist private equity firm. It acquires, manages, and divests ownership of privately-owned businesses. The company operates and invests in Australia. Its segments are the Equity, Wealth and Education & Corporate segments.