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Bee Vectoring Technologies International (Bee Vectoring Technologies International) Beneish M-Score : -4.14 (As of Jul. 13, 2024)


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What is Bee Vectoring Technologies International 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.

Good Sign:

Beneish M-Score -4.14 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Bee Vectoring Technologies International's Beneish M-Score or its related term are showing as below:

BEVVF' s Beneish M-Score Range Over the Past 10 Years
Min: -7.51   Med: -4.78   Max: -3.05
Current: -4.14

During the past 13 years, the highest Beneish M-Score of Bee Vectoring Technologies International was -3.05. The lowest was -7.51. And the median was -4.78.


Bee Vectoring Technologies International Beneish M-Score Historical Data

The historical data trend for Bee Vectoring Technologies International'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.

Bee Vectoring Technologies International Beneish M-Score Chart

Bee Vectoring Technologies International Annual Data
Trend Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only - -5.51 -3.13 -3.53 -5.89

Bee Vectoring Technologies International Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Sep23 Dec23 Mar24
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 -5.59 -4.86 -5.89 -7.51 -4.14

Competitive Comparison of Bee Vectoring Technologies International's Beneish M-Score

For the Agricultural Inputs subindustry, Bee Vectoring Technologies International'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.


Bee Vectoring Technologies International's Beneish M-Score Distribution in the Agriculture Industry

For the Agriculture industry and Basic Materials sector, Bee Vectoring Technologies International's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Bee Vectoring Technologies International's Beneish M-Score falls into.



Bee Vectoring Technologies International 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 Bee Vectoring Technologies International 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 * 2.3462+0.528 * 0.9042+0.404 * 1.7126+0.892 * 0.8622+0.115 * 1.137
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.4742+4.679 * -0.622249-0.327 * 1.41
=-4.07

* 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 (Mar24) TTM:Last Year (Dec22) TTM:
Total Receivables was $0.18 Mil.
Revenue was 0.061 + 0.013 + 0 + 0.264 = $0.34 Mil.
Gross Profit was 0.037 + 0.011 + 0 + 0.137 = $0.19 Mil.
Total Current Assets was $0.61 Mil.
Total Assets was $2.50 Mil.
Property, Plant and Equipment(Net PPE) was $0.42 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.11 Mil.
Selling, General, & Admin. Expense(SGA) was $1.15 Mil.
Total Current Liabilities was $1.28 Mil.
Long-Term Debt & Capital Lease Obligation was $0.40 Mil.
Net Income was 0.016 + -1.232 + 0 + -0.399 = $-1.62 Mil.
Non Operating Income was 0.342 + -0.001 + 0 + -0.006 = $0.34 Mil.
Cash Flow from Operations was 0.028 + -0.165 + 0 + -0.258 = $-0.40 Mil.
Total Receivables was $0.09 Mil.
Revenue was 0.033 + 0.013 + 0.12 + 0.226 = $0.39 Mil.
Gross Profit was 0.018 + -0.013 + 0.077 + 0.112 = $0.19 Mil.
Total Current Assets was $2.18 Mil.
Total Assets was $4.18 Mil.
Property, Plant and Equipment(Net PPE) was $0.56 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.18 Mil.
Selling, General, & Admin. Expense(SGA) was $2.82 Mil.
Total Current Liabilities was $1.34 Mil.
Long-Term Debt & Capital Lease Obligation was $0.66 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)
=(0.176 / 0.338) / (0.087 / 0.392)
=0.52071 / 0.221939
=2.3462

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)
=(0.194 / 0.392) / (0.185 / 0.338)
=0.494898 / 0.547337
=0.9042

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 - (0.612 + 0.416) / 2.499) / (1 - (2.184 + 0.558) / 4.178)
=0.588635 / 0.343705
=1.7126

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
=0.338 / 0.392
=0.8622

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))
=(0.179 / (0.179 + 0.558)) / (0.113 / (0.113 + 0.416))
=0.242877 / 0.213611
=1.137

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)
=(1.153 / 0.338) / (2.82 / 0.392)
=3.411243 / 7.193878
=0.4742

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)
=((0.403 + 1.282) / 2.499) / ((0.655 + 1.343) / 4.178)
=0.67427 / 0.478219
=1.41

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
=(-1.615 - 0.335 - -0.395) / 2.499
=-0.622249

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.

Bee Vectoring Technologies International has a M-score of -4.07 suggests that the company is unlikely to be a manipulator.


Bee Vectoring Technologies International Beneish M-Score Related Terms

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Bee Vectoring Technologies International (Bee Vectoring Technologies International) Business Description

Traded in Other Exchanges
Address
4160 Sladeview Crescent, Suite 7, Mississauga, ON, CAN, L5L 0A1
Bee Vectoring Technologies International Inc through its subsidiary is focused on the control of pests and enhancement of crops and ornamentals by biological controls in a variety of application processes. Its solution includes The Hive and Bees; and Vectorpak with Vectorite.

Bee Vectoring Technologies International (Bee Vectoring Technologies International) Headlines