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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 -2.84 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Bird Global's Beneish M-Score or its related term are showing as below:
During the past 4 years, the highest Beneish M-Score of Bird Global was 10.70. The lowest was -7.86. And the median was -2.89.
The historical data trend for Bird Global'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.
Bird Global Annual Data | |||||||||
Trend | Dec19 | Dec20 | Dec21 | Dec22 | |||||
Beneish M-Score | - | - | - | -7.76 |
Bird Global Quarterly Data | ||||||||||||||
Dec19 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | |
Beneish M-Score | Get a 7-Day Free Trial |
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10.70 | -7.76 | -7.86 | -2.89 | -2.84 |
For the Rental & Leasing Services subindustry, Bird Global'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.
For the Business Services industry and Industrials sector, Bird Global's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Bird Global's Beneish M-Score falls into.
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 Bird Global 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 * 0.2979 | + | 0.528 * 0.1103 | + | 0.404 * 7.309 | + | 0.892 * 0.899 | + | 0.115 * 1.0073 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 0.5101 | + | 4.679 * -0.360111 | - | 0.327 * 1.3237 | |||||||
= | -2.84 |
* 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 (Sep23) TTM: | Last Year (Sep22) TTM: |
Total Receivables was $3.5 Mil. Revenue was 54.33 + 48.334 + 29.537 + 69.661 = $201.9 Mil. Gross Profit was 19.239 + 19.35 + 5.085 + 29.411 = $73.1 Mil. Total Current Assets was $28.9 Mil. Total Assets was $222.4 Mil. Property, Plant and Equipment(Net PPE) was $150.2 Mil. Depreciation, Depletion and Amortization(DDA) was $48.8 Mil. Selling, General, & Admin. Expense(SGA) was $148.2 Mil. Total Current Liabilities was $155.5 Mil. Long-Term Debt & Capital Lease Obligation was $83.2 Mil. Net Income was -19.812 + -9.31 + -44.318 + -36.407 = $-109.8 Mil. Non Operating Income was -0.021 + 7.526 + -5.979 + -2.816 = $-1.3 Mil. Cash Flow from Operations was 6.985 + -1.843 + -21.669 + -11.928 = $-28.5 Mil. |
Total Receivables was $13.2 Mil. Revenue was 72.859 + 66.765 + 35.375 + 49.536 = $224.5 Mil. Gross Profit was 27.711 + -23.242 + 0.82 + 3.678 = $9.0 Mil. Total Current Assets was $117.1 Mil. Total Assets was $294.0 Mil. Property, Plant and Equipment(Net PPE) was $169.0 Mil. Depreciation, Depletion and Amortization(DDA) was $55.5 Mil. Selling, General, & Admin. Expense(SGA) was $323.1 Mil. Total Current Liabilities was $238.3 Mil. Long-Term Debt & Capital Lease Obligation was $0.0 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) |
= | (3.548 / 201.862) | / | (13.248 / 224.535) | |
= | 0.017576 | / | 0.059002 | |
= | 0.2979 |
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) | |
= | (8.967 / 224.535) | / | (73.085 / 201.862) | |
= | 0.039936 | / | 0.362054 | |
= | 0.1103 |
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 - (28.917 + 150.24) / 222.437) | / | (1 - (117.148 + 169.043) / 294.018) | |
= | 0.194572 | / | 0.026621 | |
= | 7.309 |
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 | |
= | 201.862 | / | 224.535 | |
= | 0.899 |
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)) |
= | (55.472 / (55.472 + 169.043)) | / | (48.826 / (48.826 + 150.24)) | |
= | 0.247075 | / | 0.245275 | |
= | 1.0073 |
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) |
= | (148.158 / 201.862) | / | (323.087 / 224.535) | |
= | 0.733957 | / | 1.438916 | |
= | 0.5101 |
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) |
= | ((83.16 + 155.455) / 222.437) | / | ((0 + 238.276) / 294.018) | |
= | 1.072731 | / | 0.810413 | |
= | 1.3237 |
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 | |
= | (-109.847 - -1.29 | - | -28.455) | / | 222.437 | |
= | -0.360111 |
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.
Bird Global has a M-score of -2.84 suggests that the company is unlikely to be a manipulator.
Thank you for viewing the detailed overview of Bird Global's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
John Ivan Bitove | director | C/O BIRD GLOBAL, INC., 392 NE 191ST STREET, #20388, MIAMI FL 33179 |
Hoselito Joseph Prodan | officer: Chief Financial Officer | C/O BIRD GLOBAL, INC., 392 NE 191ST STREET, #20388, MIAMI FL 33179 |
Michael Washinushi | officer: Chief Financial Officer | C/O BIRD GLOBAL, INC., 392 NE 191ST STREET, #20388, MIAMI FL 33179 |
Stewart Lyons | officer: Chief Executive Officer | C/O BIRD GLOBAL, INC., 392 NE 191ST STREET, #20388, MIAMI FL 33179 |
Travis Vanderzanden | director, 10 percent owner, officer: Chief Executive Officer | C/O BIRD GLOBAL, INC., 392 NE 191ST STREET, #20388, MIAMI FL 33179 |
Shane Torchiana | officer: Chief Operating Officer | 1425 BRICKELL AVE, UNIT 58E, MIAMI FL 33131 |
Jeffrey Vance | officer: Corporate Controller | IMAX CORPORATION, 2525 SPEAKMAN DRIVE, MISSISSAUGA A6 L5K 1B1 |
Philip Keebler Ryan | director | C/O BIRD GLOBAL, INC., 392 NE 191ST STREET #20388, MIAMI FL 33179 |
Philip Evershed | director | C/O BIRD GLOBAL, INC., 392 N 191ST STREET #20388 FL 33179 |
Antonio Occhionero | director | C/O BIRD GLOBAL, INC., 406 BROADWAY, SUITE 369, SANTA MONICA CA 90401 |
Kevin Talbot | director | C/O BIRD GLOBAL, INC., 406 BROADWAY, SUITE 369, SANTA MONICA CA 90401 |
Lance Bradley | officer: Chief Technology Officer | C/O BIRD GLOBAL, INC., 392 NE 191ST STREET, #20388, MIAMI FL 33179 |
Ben Lu | officer: Chief Financial Officer | C/O BIRD RIDES, INC., 392 NE 191ST STREET, #20388, MIAMI FL 33179 |
Gregory Alan Wright | officer: Controller | C/O BIRD GLOBAL, INC., 392 NE 191ST STREET, #20388, MIAMI FL 33179 |
Yibo Ling | officer: Chief Financial Officer | C/O BIRD GLOBAL, INC., 392 NE 191ST STREET, #20388, MIAMI FL 33179 |
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