CMGO (CMG Holdings Group) Beneish M-Score : 0.00 (As of Dec. 12, 2024)

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What is CMG Holdings Group 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 CMG Holdings Group's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of CMG Holdings Group was 110.11. The lowest was -8.16. And the median was 1.65.

CMG Holdings Group Beneish M-Score Historical Data

The historical data trend for CMG Holdings Group'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.

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CMG Holdings Group Beneish M-Score Chart

CMG Holdings Group Annual Data

Trend

Dec11

Dec12

Dec13

Dec14

Dec15

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-8.16

5.72

CMG Holdings Group Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-3.13	-2.42	-

Competitive Comparison of CMG Holdings Group's Beneish M-Score

For the Advertising Agencies subindustry, CMG Holdings Group'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.

CMG Holdings Group's Beneish M-Score Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, CMG Holdings Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where CMG Holdings Group's Beneish M-Score falls into.

CMG Holdings 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 CMG Holdings 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was $1.74 Mil.
Revenue was 0.015 + 0.85 + 0.315 + 1.41 = $2.59 Mil.
Gross Profit was 0.011 + 0.184 + 0.052 + 0.279 = $0.53 Mil.
Total Current Assets was $1.89 Mil.
Total Assets was $1.89 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.64 Mil.
Total Current Liabilities was $1.44 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -0.121 + 0.031 + -0.074 + 0.121 = $-0.04 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was -0.103 + 0.065 + -0.066 + 0.138 = $0.03 Mil.

Total Receivables was $1.72 Mil.
Revenue was 0.146 + 0.32 + 0.16 + 0.147 = $0.77 Mil.
Gross Profit was 0.118 + 0.175 + 0.03 + 0.024 = $0.35 Mil.
Total Current Assets was $1.82 Mil.
Total Assets was $1.82 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.82 Mil.
Total Current Liabilities was $1.33 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)
	=	(1.74 / 2.59)	/	(1.721 / 0.773)
	=	0.671815	/	2.226391
	=

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)
	=	(0.347 / 0.773)	/	(0.526 / 2.59)
	=	0.4489	/	0.203089
	=

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 - (1.887 + 0) / 1.887)	/	(1 - (1.823 + 0.001) / 1.824)
	=	0	/	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
	=	2.59	/	0.773
	=

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))
	=	(0.004 / (0.004 + 0.001))	/	(0.001 / (0.001 + 0))
	=	0.8	/	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)
	=	(0.644 / 2.59)	/	(0.82 / 0.773)
	=	0.248649	/	1.060802
	=

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 + 1.439) / 1.887)	/	((0 + 1.334) / 1.824)
	=	0.762586	/	0.73136
	=

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
	=	(-0.043 - 0	-	0.034)	/	1.887
	=	-0.040806

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.

CMG Holdings Group Beneish M-Score Related Terms

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CMG Holdings Group Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » CMG Holdings Group Inc (OTCPK:CMGO) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

2130 North Lincoln Park West 8 North, Chicago, IL, USA, 60614

Website

https://www.cmgholdingsinc.com

CMG Holdings Group Inc is a marketing communications company focused on the operation of organizations in the alternative advertising, digital media, experiential and interactive marketing, and entertainment industries. It operates in two segments: XA and CMG Holding Group.

Executives

Glenn B Laken	director, officer: CEO	2130 N LINCOLN PARK WEST, APT 8N, CHICAGO IL 60614
David J Kovacs	director	153 EAST 32ND STREET, UNIT 3C, NEW YORK NY 10016
James Ennis	director, officer: Chief Financial Officer	5601 BISCAYNE BLVD., MIAMI FL 31337
Alan Morell	director, 10 percent owner, officer: CEO	5601 BISCAYNE BLVD., MIAMI FL 31337
Aaron Joseph Hashim	officer: President	PO BOX 2346, BAKERSFIELD CA 93303
Annette Lynn Davis	director, 10 percent owner	PO BOX 2346, BAKERSFIELD CA 93303
Jennifer Ann Davis	officer: Secretary	PO BOX 2346, BAKERSFIELD CA 93303
Lesa Marie Hashim	officer: Treasurer	PO BOX 2346, BAKERSFIELD CA 93303