GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Atlas Lithium Corp (NAS:ATLX) » Definitions » Beneish M-Score

ATLX (Atlas Lithium) Beneish M-Score : 0.00 (As of Mar. 17, 2025)


View and export this data going back to 2012. Start your Free Trial

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

During the past 13 years, the highest Beneish M-Score of Atlas Lithium was 2.26. The lowest was -10.10. And the median was -6.73.


Atlas Lithium Beneish M-Score Historical Data

The historical data trend for Atlas Lithium'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.

Atlas Lithium Beneish M-Score Chart

Atlas Lithium Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.81 -6.39 - - -

Atlas Lithium Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - - - -

Competitive Comparison of Atlas Lithium's Beneish M-Score

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


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

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

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



Atlas Lithium 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 Atlas Lithium for today is based on a combination of the following eight different indices:

M=-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 *
=

* 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 (Dec24) TTM:Last Year (Dec23) TTM:
Total Receivables was $0.08 Mil.
Revenue was 0.123 + 0.17 + 0.183 + 0.187 = $0.66 Mil.
Gross Profit was 0.016 + 0.069 + 0.091 + 0.085 = $0.26 Mil.
Total Current Assets was $16.24 Mil.
Total Assets was $57.86 Mil.
Property, Plant and Equipment(Net PPE) was $39.36 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.20 Mil.
Selling, General, & Admin. Expense(SGA) was $40.95 Mil.
Total Current Liabilities was $5.69 Mil.
Long-Term Debt & Capital Lease Obligation was $10.12 Mil.
Net Income was -11.078 + -9.029 + -9.171 + -12.963 = $-42.24 Mil.
Non Operating Income was -1.298 + 0.081 + 0.114 + 0.185 = $-0.92 Mil.
Cash Flow from Operations was -4.573 + -2.92 + -5.189 + -6.103 = $-18.79 Mil.
Total Receivables was $0.05 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $29.72 Mil.
Total Assets was $43.57 Mil.
Property, Plant and Equipment(Net PPE) was $13.81 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.03 Mil.
Selling, General, & Admin. Expense(SGA) was $25.43 Mil.
Total Current Liabilities was $5.91 Mil.
Long-Term Debt & Capital Lease Obligation was $9.94 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)
=(0.077 / 0.663) / (0.051 / 0)
=0.116139 /
=

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) / (0.261 / 0.663)
= / 0.393665
=

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 - (16.242 + 39.355) / 57.855) / (1 - (29.715 + 13.813) / 43.574)
=0.039029 / 0.001056
=

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
=0.663 / 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))
=(0.025 / (0.025 + 13.813)) / (0.199 / (0.199 + 39.355))
=0.001807 / 0.005031
=

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)
=(40.946 / 0.663) / (25.432 / 0)
=61.758673 /
=

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)
=((10.121 + 5.689) / 57.855) / ((9.935 + 5.905) / 43.574)
=0.273269 / 0.36352
=

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
=(-42.241 - -0.918 - -18.785) / 57.855
=-0.38956

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.


Atlas Lithium Beneish M-Score Related Terms

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


Atlas Lithium Business Description

Traded in Other Exchanges
Address
Rua Buenos Aires, 10-14th Floor, Belo Horizonte, MG, BRA, 30.315-570
Atlas Lithium Corp is a mineral exploration and development company with lithium projects and exploration properties in other critical and battery minerals, including nickel, rare earth, graphite, and titanium, to power the increased demand for electrification. Its focus is on developing its hard-rock lithium project Minas Gerais Lithium Project located in Minas Gerais State in Brazil. The company intends to produce and sell lithium concentrate, a key ingredient for the battery supply chain. They intend to mine and then process its lithium-containing ore to produce lithium concentrate (also known as spodumene concentrate), a key ingredient for the battery supply chain.
Executives
Igor Tkachenko officer: VP, Corporate Strategy 1200 N. FEDERAL HWY, SUITE 200, BOCA RATON FL 33432
Marc Fogassa director, 10 percent owner, officer: Chief Executive Officer 324 SOUTH BEVERLY DRIVE, SUITE 118, BEVERLY HILLS CA 90212
Pereira De Aguiar Gustavo officer: CFO/PAO 433 NORTH CAMDEN DRIVE, SUITE 810, BEVERLY HILLS CA 90210
Volodymyr Myadzel officer: Senior VP, Geology 433 NORTH CAMDEN DRIVE, SUITE 810, BEVERLY HILLS CA 90210
Cassiopeia Olson director 2015 S BEVERLY GLEN BLVD., 101, 101, LOS ANGELES CA 90025
Brian W. Bernier officer: Vice President 605 BELMONT PLACE, BOYNTON BEACH FL 33436
Stephen R. Petersen director C/O FOUR SPRINGS CAPITAL TRUST, 1901 MAIN STREET, LAKE COMO NJ 07719
De Paiva Monteiro Joel officer: VP, Admin & Ops, ESG Chief 433 NORTH CAMDEN DRIVE, SUITE 810, BEVERLY HILLS CA 90210
Nogueira Da Silva Junior Areli officer: VP, Mineral Exploration 433 NORTH CAMDEN DRIVE, SUITE 810, BEVERLY HILLS CA 90210
Roger Noriega director 1150 K STREET, N.W., WASHINGTON DC 20005
Peter Kristofer Goldy 10 percent owner 9903 SANTA MONICA BLVD, SUITE 187, BEVERLY HILLS CA 90212
Sainte Valiere, Llc 10 percent owner SOUTHPAC TRUST NEVIS LIMITED, HUNKINS PLAZA, CHARLESTOWN U7 NONE
Brazil Mining, Inc. 10 percent owner 324 SOUTH BEVERLY DRIVE, STE. 118, BEVERLY HILLS CA 90212
Luis Azevedo director AV. JOURNALISTA RICARDO MARINHO 360, SALA 113 ED.COSMOPOLITAN,BARRA DA TIJUCA, RIO DE JANEIRO, CEP 22631-350 D5 22631-350
Paul Durand director 99 LYTTLETON GARDENS, OTTAWA A6 K1L5A4

Atlas Lithium Headlines

From GuruFocus

Atlas Lithium's Neves Project Is Now Permitted

By ACN Newswire 10-28-2024