ETST (Earth Science Tech) Beneish M-Score : 6.04 (As of Dec. 13, 2024)

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What is Earth Science Tech 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.

Warning Sign:

Beneish M-Score 6.04 higher than -1.78, which implies that the company might have manipulated its financial results.

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

ETST' s Beneish M-Score Range Over the Past 10 Years
Min: -42.38 Med: -7.3 Max: 1771.95
Current: 6.04

During the past 12 years, the highest Beneish M-Score of Earth Science Tech was 1771.95. The lowest was -42.38. And the median was -7.30.

Earth Science Tech Beneish M-Score Historical Data

The historical data trend for Earth Science Tech'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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Earth Science Tech Beneish M-Score Chart

Earth Science Tech Annual Data

Trend

Mar14

Mar15

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Beneish M-Score

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-21.91

-29.36

-11.92

-1.67

213.79

Earth Science Tech 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															483.93	1,771.95	213.79	63.63	6.04

Competitive Comparison of Earth Science Tech's Beneish M-Score

For the Drug Manufacturers - Specialty & Generic subindustry, Earth Science Tech'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.

Earth Science Tech's Beneish M-Score Distribution in the Drug Manufacturers Industry

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

* The bar in red indicates where Earth Science Tech's Beneish M-Score falls into.

Earth Science Tech 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 Earth Science Tech 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 * 0.2645

0.528 * 0.8631

0.404 * 0.6119

0.892 * 12.2412

0.115 * 0.737

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.8205

4.679 * -0.128119

0.327 * 1.0044

6.04

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was $0.20 Mil.
Revenue was 8.519 + 8.569 + 6.016 + 3.79 = $26.89 Mil.
Gross Profit was 6.267 + 6.41 + 4.122 + 2.377 = $19.18 Mil.
Total Current Assets was $2.28 Mil.
Total Assets was $5.05 Mil.
Property, Plant and Equipment(Net PPE) was $0.44 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.15 Mil.
Selling, General, & Admin. Expense(SGA) was $15.63 Mil.
Total Current Liabilities was $1.70 Mil.
Long-Term Debt & Capital Lease Obligation was $0.15 Mil.
Net Income was 0.798 + 1.076 + 0.232 + 0.225 = $2.33 Mil.
Non Operating Income was 0 + 0.013 + 0 + 0.008 = $0.02 Mil.
Cash Flow from Operations was 0.927 + 0.951 + 0.848 + 0.231 = $2.96 Mil.

Total Receivables was $0.06 Mil.
Revenue was 1.928 + 0.22 + 0.046 + 0.003 = $2.20 Mil.
Gross Profit was 1.181 + 0.149 + 0.02 + 0.002 = $1.35 Mil.
Total Current Assets was $0.46 Mil.
Total Assets was $3.04 Mil.
Property, Plant and Equipment(Net PPE) was $0.28 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.07 Mil.
Selling, General, & Admin. Expense(SGA) was $1.56 Mil.
Total Current Liabilities was $0.51 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)
	=	(0.204 / 26.894)	/	(0.063 / 2.197)
	=	0.007585	/	0.028675
	=	0.2645

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)
	=	(1.352 / 2.197)	/	(19.176 / 26.894)
	=	0.615385	/	0.713021
	=	0.8631

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 - (2.281 + 0.436) / 5.05)	/	(1 - (0.462 + 0.283) / 3.041)
	=	0.46198	/	0.755015
	=	0.6119

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
	=	26.894	/	2.197
	=	12.2412

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))
	=	(0.065 / (0.065 + 0.283))	/	(0.148 / (0.148 + 0.436))
	=	0.186782	/	0.253425
	=	0.737

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)
	=	(15.629 / 26.894)	/	(1.556 / 2.197)
	=	0.581133	/	0.708239
	=	0.8205

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)
	=	((0.149 + 1.699) / 5.05)	/	((0.599 + 0.509) / 3.041)
	=	0.365941	/	0.364354
	=	1.0044

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
	=	(2.331 - 0.021	-	2.957)	/	5.05
	=	-0.128119

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.

Earth Science Tech has a M-score of 6.04 signals that the company is likely to be a manipulator.

Earth Science Tech Beneish M-Score Related Terms

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Earth Science Tech Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Earth Science Tech Inc (OTCPK:ETST) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

8950 SW 74th CT, Suite 101, Miami, FL, USA, 33156

Website

https://www.earthsciencetech.com

Earth Science Tech Inc is a diversified holding company. The company is set to acquire companies with its current focus in the health and wellness industry. The Company is presently in compounding pharmaceuticals and telemedicine through its wholly-owned subsidiaries.

Executives

Giorgio R. Saumat	director	449 ESPLANADE DR, MIAMI SPRINGS FL 33166
Majorca Group, Ltd.	10 percent owner	1621 CENTRAL AVE, CHEYENNE WY 90501
David Barbash	officer: Chief Sales Officer	109 SWIFT CREEK CROSSING, DURHAM NC 27713
Nickolas Salomon Tabraue	director, officer: President & Chairman	4100 SALZEDO STREET, UNIT 420, CORAL GABLES FL 33146
Wendell Hecker	officer: CFO	2606 NW 104 TH AVE #410, SUNRISE FL 33322
Gregg Gagan Hunter	director, officer: COO & Director	774 86TH STREET, MIAMI FL 33138
Michel Aube	officer: CEO & CSO	8837,RUE DE CHAMP D'EAU, MONTR?AL A8 HIP 3A6
Matthew Cohen	officer: CEO & CFO	1702 COSTA DEL SOL, BOCA RATON FL 33432
Thomas H Wright	director, officer: Chief Operating Officer	1600 SOUTH DIXIE HWY., SUITE 300, BOCA RATON FL 33432
Harvey Katz	officer: CEO	2255 GLADES ROAD, #324A, BOCA RATON FL 33431
Issa El-cheikh	director, officer: President	40 EAST MAIN STREET #998, NEWARK DE 19711
Great Lakes Holdings Group, Llc	10 percent owner	3825 HUNTINGTON AVENUE, WINDSOR A6 N9E3N4