ERESU (East Resources Acquisition Co) Beneish M-Score : 0.00 (As of Dec. 12, 2024)

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What is East Resources Acquisition Co 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 East Resources Acquisition Co's Beneish M-Score or its related term are showing as below:

During the past 3 years, the highest Beneish M-Score of East Resources Acquisition Co was 0.00. The lowest was 0.00. And the median was 0.00.

East Resources Acquisition Co Beneish M-Score Historical Data

The historical data trend for East Resources Acquisition Co'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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East Resources Acquisition Co Beneish M-Score Chart

East Resources Acquisition Co Annual Data

Trend

Dec20

Dec21

Dec22

Beneish M-Score

East Resources Acquisition Co Quarterly Data
	May20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23
Beneish M-Score	Get a 7-Day Free Trial							-	-	-	-	-

Competitive Comparison of East Resources Acquisition Co's Beneish M-Score

For the Shell Companies subindustry, East Resources Acquisition Co'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.

East Resources Acquisition Co's Beneish M-Score Distribution in the Diversified Financial Services Industry

For the Diversified Financial Services industry and Financial Services sector, East Resources Acquisition Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where East Resources Acquisition Co's Beneish M-Score falls into.

East Resources Acquisition Co 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 East Resources Acquisition Co 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 (Mar23) TTM:

Last Year (Mar22) TTM:

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $0.23 Mil.
Total Assets was $29.62 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 $9.26 Mil.
Total Current Liabilities was $16.40 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -0.144 + -2.546 + -6.347 + -1.134 = $-10.17 Mil.
Non Operating Income was 1.177 + -0.402 + 2.212 + -1.005 = $1.98 Mil.
Cash Flow from Operations was -0.5 + -0.626 + -1.35 + -0.346 = $-2.82 Mil.

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $0.75 Mil.
Total Assets was $345.78 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 $1.44 Mil.
Total Current Liabilities was $1.69 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 / 0)	/	(0 / 0)
	=		/
	=

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 / 0)	/	(0 / 0)
	=		/
	=

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 - (0.234 + 0) / 29.62)	/	(1 - (0.745 + 0) / 345.78)
	=	0.9921	/	0.997845
	=

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	/	0
	=

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))	/	(0 / (0 + 0))
	=		/
	=

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)
	=	(9.26 / 0)	/	(1.436 / 0)
	=		/
	=

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 + 16.402) / 29.62)	/	((0 + 1.69) / 345.78)
	=	0.553747	/	0.004888
	=

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
	=	(-10.171 - 1.982	-	-2.822)	/	29.62
	=	-0.315024

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.

East Resources Acquisition Co Beneish M-Score Related Terms

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East Resources Acquisition Co Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Diversified Financial Services » East Resources Acquisition Co (NAS:ERESU) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

7777 NW Beacon Square Boulevard, Boca Raton, FL, USA, 33487

Website

https://www.eastresources.com

East Resources Acquisition Co is a blank check company.

Executives

Alberta Investment Management Corp	10 percent owner	1600-10250 101 STREET NW, EDMONTON A0 T5J 3P4
Adage Capital Partners Gp, L.l.c.	10 percent owner	200 CLARENDON STREET, 52ND FLOOR, BOSTON MA 02116
Adage Capital Advisors, L.l.c.	10 percent owner	200 CLARENDON STREET, 52ND FLOOR, BOSTON MA 02116
Robert Atchinson	10 percent owner	200 CLARENDON STREET, 52ND FLOOR, BOSTON MA 02116
Phillip Gross	10 percent owner	200 CLARENDON STREET, 52ND FLOOR, BOSTON MA 02116
Adage Capital Partners, L.p.	10 percent owner	200 CLARENDON STREET, 52ND FLOOR, BOSTON MA 02116
Thomas A Lopus	director	650 WASHINGTON ROAD, SUITE 800, PITTSBURGH PA 15228
Adam Samuel Gusky	officer: Chief Investment Officer	RAND CAPITAL CORPORATION, 14 LAFAYETTE SQUARE, SUITE 2200, BUFFALO NY 14203
William A. Fustos	director	C/O EAST RESOURCES ACQUISITION COMPANY, 7777 NW BEACON SQUARE BOULEVARD, BOCA RATON FL 33487
Jacob R. Long	officer: VP, Operations	C/O EAST RESOURCES ACQUISITION COMPANY, 7777 NW BEACON SQUARE BOULEVARD, BOCA RATON FL 33487
Benjamin N. Wingard	officer: VP, Business Development	C/O EAST RESOURCES ACQUISITION COMPANY, 7777 NW BEACON SQUARE BOULEVARD, BOCA RATON FL 33487
Hagerman Gary L. Jr.	director, officer: CFO and Treasurer	C/O EAST RESOURCES ACQUISITION COMPANY, 7777 NW BEACON SQUARE BOULEVARD, BOCA RATON FL 33487
Allen F. Sobol	director	C/O EAST RESOURCES ACQUISITION COMPANY, 7777 NW BEACON SQUARE BOULEVARD, BOCA RATON FL 33487
John P. Sieminski	officer: GC & Secretary	C/O EAST RESOURCES ACQUISITION COMPANY, 7777 NW BEACON SQUARE BOULEVARD, BOCA RATON FL 33487
East Asset Management, Llc	10 percent owner	777 NW BEACON SQUARE BLVD., BOCA RATON FL 33487