FCHS (First Choice Healthcare Solutions) Beneish M-Score : 0.00 (As of Dec. 14, 2024)

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What is First Choice Healthcare Solutions 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 First Choice Healthcare Solutions's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of First Choice Healthcare Solutions was 32.70. The lowest was -9.54. And the median was -1.78.

First Choice Healthcare Solutions Beneish M-Score Historical Data

The historical data trend for First Choice Healthcare Solutions'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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First Choice Healthcare Solutions Beneish M-Score Chart

First Choice Healthcare Solutions Annual Data

Trend

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec22

Dec23

Beneish M-Score

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-0.11

-1.20

-3.19

-7.59

32.70

First Choice Healthcare Solutions Quarterly Data
	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-	32.70	-	-	-

Competitive Comparison of First Choice Healthcare Solutions's Beneish M-Score

For the Medical Care Facilities subindustry, First Choice Healthcare Solutions'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.

First Choice Healthcare Solutions's Beneish M-Score Distribution in the Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, First Choice Healthcare Solutions's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where First Choice Healthcare Solutions's Beneish M-Score falls into.

First Choice Healthcare Solutions 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 First Choice Healthcare Solutions 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 $0.05 Mil.
Revenue was -0.03 + 0.003 + 0.007 + 0.043 = $0.02 Mil.
Gross Profit was -0.03 + 0.003 + 0.007 + 0.043 = $0.02 Mil.
Total Current Assets was $0.56 Mil.
Total Assets was $4.72 Mil.
Property, Plant and Equipment(Net PPE) was $4.05 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.04 Mil.
Selling, General, & Admin. Expense(SGA) was $1.43 Mil.
Total Current Liabilities was $32.46 Mil.
Long-Term Debt & Capital Lease Obligation was $4.74 Mil.
Net Income was -0.817 + -1.862 + -1.205 + -0.467 = $-4.35 Mil.
Non Operating Income was 0.001 + 0.002 + 0.003 + 0.241 = $0.25 Mil.
Cash Flow from Operations was 1.319 + -0.555 + -0.079 + -1.717 = $-1.03 Mil.

Total Receivables was $0.00 Mil.
Revenue was 0.013 + 0.059 + -0.085 + 0 = $-0.01 Mil.
Gross Profit was 0.013 + 0.059 + -0.085 + 0 = $-0.01 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $0.00 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.04 Mil.
Selling, General, & Admin. Expense(SGA) was $2.42 Mil.
Total Current Liabilities was $0.00 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)
	=	(0.049 / 0.023)	/	(0 / -0.013)
	=	2.130435	/
	=

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)
	=	(-0.013 / -0.013)	/	(0.023 / 0.023)
	=		/	1
	=

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 - (0.559 + 4.052) / 4.723)	/	(1 - (0 + 0) / 0)
	=	0.023714	/
	=

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
	=	0.023	/	-0.013
	=

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))
	=	(0.037 / (0.037 + 0))	/	(0.036 / (0.036 + 4.052))
	=	1	/	0.008806
	=

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)
	=	(1.428 / 0.023)	/	(2.419 / -0.013)
	=	62.086957	/
	=

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)
	=	((4.744 + 32.464) / 4.723)	/	((0 + 0) / 0)
	=	7.878044	/
	=

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
	=	(-4.351 - 0.247	-	-1.032)	/	4.723
	=	-0.755029

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.

First Choice Healthcare Solutions Beneish M-Score Related Terms

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First Choice Healthcare Solutions Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Healthcare Providers & Services » First Choice Healthcare Solutions Inc (OTCPK:FCHS) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

95 Bulldog Boulevard, Suite 202, Melbourne, FL, USA, 32901

Website

https://www.myfchs.com

First Choice Healthcare Solutions Inc is engaged in implementing a defined growth strategy aimed at building a network of localized, integrated healthcare services platforms comprised of primary care using doctors, nurse practitioners, health and well services (anti-aging, weight management and stem cells), rehabilitative therapy, pain management, and pharmacy- services. in markets throughout the U.S. They still provide rehabilitative services, such as Physical Therapy, but our strategy is to move to the operation of primary care and wellness clinics.

Executives

Gary Pickett	officer: Chief Financial Officer	9958 LAKE SEMINOLE DR. W., LARGO FL 33773
Michael J. West	other: Former Officer and Owner	16325 EAST DORADO AVE., CENTENNIAL CO 80111
Stephen H. West	director, officer: Secretary	16325 EAST DORADO AVE., CENTENNIAL CO 80111