Brite-Strike Tactical Illumination Products (Brite-Strike Tactical Illumination Products) Beneish M-Score : -10.14 (As of May. 24, 2024)

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What is Brite-Strike Tactical Illumination Products 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 -10.14 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Brite-Strike Tactical Illumination Products's Beneish M-Score or its related term are showing as below:

BSTK' s Beneish M-Score Range Over the Past 10 Years
Min: -10.14 Med: -1.34 Max: 4.74
Current: -10.14

During the past 5 years, the highest Beneish M-Score of Brite-Strike Tactical Illumination Products was 4.74. The lowest was -10.14. And the median was -1.34.

Brite-Strike Tactical Illumination Products Beneish M-Score Historical Data

The historical data trend for Brite-Strike Tactical Illumination Products'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.

Brite-Strike Tactical Illumination Products Beneish M-Score Chart

Brite-Strike Tactical Illumination Products Annual Data

Trend

Dec96

Dec12

Dec13

Dec14

Dec15

Beneish M-Score

4.65

-1.83

-1.34

Brite-Strike Tactical Illumination Products Quarterly Data
	Mar96	Jun96	Sep96	Dec96	Mar97	Jun97	Sep97	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Dec14	Mar15	Jun15	Sep15	Dec15	Sep23
Beneish M-Score	Get a 7-Day Free Trial															-0.05	-1.71	-0.32	-1.34	-10.14

Competitive Comparison of Brite-Strike Tactical Illumination Products's Beneish M-Score

For the Electrical Equipment & Parts subindustry, Brite-Strike Tactical Illumination Products'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.

Brite-Strike Tactical Illumination Products's Beneish M-Score Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Brite-Strike Tactical Illumination Products's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Brite-Strike Tactical Illumination Products's Beneish M-Score falls into.

Brite-Strike Tactical Illumination Products 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 Brite-Strike Tactical Illumination Products 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 * 0.2362

0.528 * 0.9198

0.404 * 0

0.892 * 0.5152

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.372

4.679 * -0.216667

0.327 * 16.2839

-10.14

This Year (Sep23) TTM:

Last Year (Mar15) TTM:

Total Receivables was $0.02 Mil.
Revenue was 0.027 + 0.249 + 0.145 + 0.14 = $0.56 Mil.
Gross Profit was 0.017 + 0.193 + 0.111 + 0.094 = $0.42 Mil.
Total Current Assets was $0.07 Mil.
Total Assets was $0.12 Mil.
Property, Plant and Equipment(Net PPE) was $0.06 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.36 Mil.
Total Current Liabilities was $0.18 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -0.019 + 0.035 + -0.067 + -0.129 = $-0.18 Mil.
Non Operating Income was -0.017 + -0.036 + -0.03 + -0.071 = $-0.15 Mil.
Cash Flow from Operations was 0 + 0 + 0 + 0 = $0.00 Mil.

Total Receivables was $0.19 Mil.
Revenue was 0.494 + 0.244 + 0.155 + 0.196 = $1.09 Mil.
Gross Profit was 0.33 + 0.176 + 0.122 + 0.113 = $0.74 Mil.
Total Current Assets was $0.49 Mil.
Total Assets was $0.55 Mil.
Property, Plant and Equipment(Net PPE) was $0.06 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.52 Mil.
Total Current Liabilities was $0.05 Mil.
Long-Term Debt & Capital Lease Obligation was $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)
	=	(0.023 / 0.561)	/	(0.189 / 1.089)
	=	0.040998	/	0.173554
	=	0.2362

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)
	=	(0.741 / 1.089)	/	(0.415 / 0.561)
	=	0.680441	/	0.73975
	=	0.9198

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 - (0.065 + 0.055) / 0.12)	/	(1 - (0.492 + 0.058) / 0.552)
	=	0	/	0.003623
	=	0

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
	=	0.561	/	1.089
	=	0.5152

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 + 0.058))	/	(0 / (0 + 0.055))
	=	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)
	=	(0.364 / 0.561)	/	(0.515 / 1.089)
	=	0.648841	/	0.472911
	=	1.372

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 + 0.177) / 0.12)	/	((0 + 0.05) / 0.552)
	=	1.475	/	0.09058
	=	16.2839

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
	=	(-0.18 - -0.154	-	0)	/	0.12
	=	-0.216667

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.

Brite-Strike Tactical Illumination Products has a M-score of -10.14 suggests that the company is unlikely to be a manipulator.

Brite-Strike Tactical Illumination Products Beneish M-Score Related Terms

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Brite-Strike Tactical Illumination Products (Brite-Strike Tactical Illumination Products) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Brite-Strike Tactical Illumination Products Inc (OTCPK:BSTK) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

1145 Franklin Street, Duxbury, MA, USA, 02332

Website

https://www.brite-strike.com

Brite-Strike Tactical Illumination Products Inc is a United States-based company engaged in designing and manufacturing tactical flashlights with Digital Power Management chip technology. The company's products are used as a non-lethal means of defense for law enforcement, the military, and safety-minded citizens. Its products are used in the police and military industry, outdoor adventures, water sports, fishing, flashlights, hunting, and citizen safety, and also provides related accessories.

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