ELLXD (Elixinol Wellness) Beneish M-Score : -4.38 (As of Dec. 15, 2024)

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What is Elixinol Wellness 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 -4.38 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Elixinol Wellness's Beneish M-Score or its related term are showing as below:

ELLXD' s Beneish M-Score Range Over the Past 10 Years
Min: -4.38 Med: -3.13 Max: -0.3
Current: -4.38

During the past 6 years, the highest Beneish M-Score of Elixinol Wellness was -0.30. The lowest was -4.38. And the median was -3.13.

Elixinol Wellness Beneish M-Score Historical Data

The historical data trend for Elixinol Wellness'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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Elixinol Wellness Beneish M-Score Chart

Elixinol Wellness Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-3.92

-0.30

-2.34

-4.38

Elixinol Wellness Semi-Annual Data
	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
Beneish M-Score	Get a 7-Day Free Trial								-	-2.34	-	-4.38	-

Competitive Comparison of Elixinol Wellness's Beneish M-Score

For the Drug Manufacturers - Specialty & Generic subindustry, Elixinol Wellness'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.

Elixinol Wellness's Beneish M-Score Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Elixinol Wellness's Beneish M-Score distribution charts can be found below:

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

Elixinol Wellness 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 Elixinol Wellness 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 * 0.3662

0.528 * 1.11

0.404 * 0.8843

0.892 * 1.1628

0.115 * 1.1742

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.6569

4.679 * -0.307054

0.327 * 1.3786

-4.39

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $1.14 Mil.
Revenue was $5.54 Mil.
Gross Profit was $2.29 Mil.
Total Current Assets was $5.47 Mil.
Total Assets was $7.84 Mil.
Property, Plant and Equipment(Net PPE) was $0.79 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.40 Mil.
Selling, General, & Admin. Expense(SGA) was $5.35 Mil.
Total Current Liabilities was $3.34 Mil.
Long-Term Debt & Capital Lease Obligation was $0.13 Mil.
Net Income was $-5.03 Mil.
Gross Profit was $-0.77 Mil.
Cash Flow from Operations was $-1.85 Mil.

Total Receivables was $2.68 Mil.
Revenue was $4.76 Mil.
Gross Profit was $2.19 Mil.
Total Current Assets was $6.28 Mil.
Total Assets was $9.10 Mil.
Property, Plant and Equipment(Net PPE) was $0.75 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.49 Mil.
Selling, General, & Admin. Expense(SGA) was $7.00 Mil.
Total Current Liabilities was $2.32 Mil.
Long-Term Debt & Capital Lease Obligation was $0.60 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)
	=	(1.142 / 5.535)	/	(2.682 / 4.76)
	=	0.206323	/	0.563445
	=	0.3662

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)
	=	(2.185 / 4.76)	/	(2.289 / 5.535)
	=	0.459034	/	0.41355
	=	1.11

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 - (5.472 + 0.793) / 7.839)	/	(1 - (6.283 + 0.75) / 9.099)
	=	0.200791	/	0.227058
	=	0.8843

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
	=	5.535	/	4.76
	=	1.1628

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))
	=	(0.487 / (0.487 + 0.75))	/	(0.4 / (0.4 + 0.793))
	=	0.393694	/	0.335289
	=	1.1742

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)
	=	(5.345 / 5.535)	/	(6.997 / 4.76)
	=	0.965673	/	1.469958
	=	0.6569

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)
	=	((0.129 + 3.339) / 7.839)	/	((0.599 + 2.321) / 9.099)
	=	0.442403	/	0.320914
	=	1.3786

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
	=	(-5.025 - -0.772	-	-1.846)	/	7.839
	=	-0.307054

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.

Elixinol Wellness has a M-score of -4.39 suggests that the company is unlikely to be a manipulator.

Elixinol Wellness Beneish M-Score Related Terms

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Elixinol Wellness Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Elixinol Wellness Ltd (OTCPK:ELLXD) » Definitions » Beneish M-Score

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EXLDA:Australia

Address

680 George Street, Level 12, Sydney, NSW, AUS, 2000

Website

https://www.elixinolwellness.com

Elixinol Wellness Ltd is engaged in the hemp industry, innovating, marketing, and selling hemp-derived nutraceutical, cosmetic, and food products. It operates in the three operating segments of the Americas, Australia, Rest of the World regions of which key revenue is derived from the Australia segment. The Australia segment includes the results from operations of Elixinol Wellness (Byron Bay) Pty Ltd and The Sustainable Nutrition Group Pty Ltd and its subsidiaries.