Canada Nickel Co (FRA:4E0) Beneish M-Score : 0.00 (As of Apr. 05, 2025)

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What is Canada Nickel 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 Canada Nickel Co's Beneish M-Score or its related term are showing as below:

During the past 5 years, the highest Beneish M-Score of Canada Nickel Co was 0.00. The lowest was 0.00. And the median was 0.00.

Canada Nickel Co Beneish M-Score Historical Data

The historical data trend for Canada Nickel 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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Canada Nickel Co Beneish M-Score Chart

Canada Nickel Co Annual Data

Trend

Oct20

Oct21

Oct22

Oct23

Oct24

Beneish M-Score

Canada Nickel Co Quarterly Data
	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24	Apr24	Jul24	Oct24	Jan25
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of Canada Nickel Co's Beneish M-Score

For the Other Industrial Metals & Mining subindustry, Canada Nickel 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.

Canada Nickel Co's Beneish M-Score Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Canada Nickel Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Canada Nickel Co's Beneish M-Score falls into.

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Canada Nickel 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 Canada Nickel 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 (Jan25) TTM:

Last Year (Jan24) TTM:

Total Receivables was €2.44 Mil.
Revenue was 0 + 0 + 0 + 0 = €0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = €0.00 Mil.
Total Current Assets was €4.45 Mil.
Total Assets was €178.51 Mil.
Property, Plant and Equipment(Net PPE) was €174.06 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.00 Mil.
Selling, General, & Admin. Expense(SGA) was €8.43 Mil.
Total Current Liabilities was €37.83 Mil.
Long-Term Debt & Capital Lease Obligation was €0.09 Mil.
Net Income was -2.376 + 1.483 + -0.321 + -0.167 = €-1.38 Mil.
Non Operating Income was 0.819 + 4.245 + 2.135 + 1.771 = €8.97 Mil.
Cash Flow from Operations was 3.834 + -3.435 + -3.534 + -2.155 = €-5.29 Mil.

Total Receivables was €0.72 Mil.
Revenue was 0 + 0 + 0 + 0 = €0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = €0.00 Mil.
Total Current Assets was €30.39 Mil.
Total Assets was €149.36 Mil.
Property, Plant and Equipment(Net PPE) was €118.97 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.00 Mil.
Selling, General, & Admin. Expense(SGA) was €8.71 Mil.
Total Current Liabilities was €26.05 Mil.
Long-Term Debt & Capital Lease Obligation was €0.13 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)
	=	(2.442 / 0)	/	(0.715 / 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 - (4.45 + 174.064) / 178.514)	/	(1 - (30.39 + 118.967) / 149.356)
	=	0	/	-7.0E-6
	=

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 + 118.967))	/	(0 / (0 + 174.064))
	=	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)
	=	(8.432 / 0)	/	(8.707 / 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)
	=	((0.088 + 37.831) / 178.514)	/	((0.131 + 26.054) / 149.356)
	=	0.212415	/	0.175319
	=

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
	=	(-1.381 - 8.97	-	-5.29)	/	178.514
	=	-0.028351

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.

Canada Nickel Co Beneish M-Score Related Terms

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Canada Nickel Co Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Canada Nickel Co Inc (FRA:4E0) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

CNIKF:USA 4E0:Germany CNC:Canada

Address

130 King Street West, Suite 1900, Toronto, ON, CAN, M5X1E3

Website

https://www.canadanickel.com

Canada Nickel Co Inc is advancing the next generation of nickel-cobalt sulphide projects to deliver nickel and cobalt required to feed the high growth electric vehicle and stainless steel markets. The company has applied in multiple jurisdictions to trademark the terms NetZero Nickel, NetZero Cobalt, NetZero Iron and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel and cobalt in low political risk jurisdictions. The firm is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific - mining camp.

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