GetSwift Technologies (FRA:8DQ) Beneish M-Score : 0.00 (As of Apr. 30, 2024)

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What is GetSwift Technologies 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 GetSwift Technologies's Beneish M-Score or its related term are showing as below:

During the past 5 years, the highest Beneish M-Score of GetSwift Technologies was 0.00. The lowest was 0.00. And the median was 0.00.

GetSwift Technologies Beneish M-Score Historical Data

The historical data trend for GetSwift Technologies'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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GetSwift Technologies Beneish M-Score Chart

GetSwift Technologies Annual Data

Trend

Jun16

Jun17

Jun18

Jun19

Jun20

Beneish M-Score

182.35

6.49

GetSwift Technologies Quarterly Data
	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Mar21
Beneish M-Score	Get a 7-Day Free Trial											-	-	6.49	-	-

Competitive Comparison of GetSwift Technologies's Beneish M-Score

For the Software - Application subindustry, GetSwift Technologies'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.

GetSwift Technologies's Beneish M-Score Distribution in the Software Industry

For the Software industry and Technology sector, GetSwift Technologies's Beneish M-Score distribution charts can be found below:

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

GetSwift Technologies 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 GetSwift Technologies 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 (Mar21) TTM:

Last Year (Dec19) TTM:

Total Receivables was €3.18 Mil.
Revenue was 2.219 + 0 + 8.238 + 5.361 = €15.82 Mil.
Gross Profit was 0.596 + 0 + 13.355 + 3.079 = €17.03 Mil.
Total Current Assets was €16.40 Mil.
Total Assets was €27.65 Mil.
Property, Plant and Equipment(Net PPE) was €1.14 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.00 Mil.
Selling, General, & Admin. Expense(SGA) was €10.62 Mil.
Total Current Liabilities was €6.59 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 Mil.
Net Income was -2.561 + 0 + -12.882 + 1.903 = €-13.54 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = €0.00 Mil.
Cash Flow from Operations was 0 + -9.886 + -6.71 + -2.961 = €-19.56 Mil.

Total Receivables was €1.07 Mil.
Revenue was 0 + 0 + 0 + 0 = €0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = €0.00 Mil.
Total Current Assets was €37.88 Mil.
Total Assets was €42.92 Mil.
Property, Plant and Equipment(Net PPE) was €0.49 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.00 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €2.85 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)
	=	(3.176 / 15.818)	/	(1.068 / 0)
	=	0.200784	/
	=

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)	/	(17.03 / 15.818)
	=		/	1.076622
	=

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 - (16.402 + 1.143) / 27.65)	/	(1 - (37.876 + 0.489) / 42.918)
	=	0.365461	/	0.106086
	=

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
	=	15.818	/	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 + 0.489))	/	(0 / (0 + 1.143))
	=	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)
	=	(10.623 / 15.818)	/	(0 / 0)
	=	0.671577	/
	=

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 + 6.593) / 27.65)	/	((0 + 2.854) / 42.918)
	=	0.238445	/	0.066499
	=

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
	=	(-13.54 - 0	-	-19.557)	/	27.65
	=	0.217613

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.

GetSwift Technologies Beneish M-Score Related Terms

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GetSwift Technologies (FRA:8DQ) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » GetSwift Technologies Ltd (FRA:8DQ) » Definitions » Beneish M-Score

Comparable Companies

TSXV:ID XSAT:JOJK XCNQ:PLNK ASX:AO1 WAR:ITL WAR:MAD XCNQ:PPK OCSE:NEXCOM TSXV:NPA XCNQ:PUSH

Traded in Other Exchanges

N/A

Address

1185 6th Avenue, New York, NY, USA, 10036

Website

https://www.getswift.co

GetSwift Technologies Ltd is a technology and services company that offers a suite of software, products, and services through its operating subsidiaries, which are focused on business and logistics and automation, data management and analysis, communications, information security, and infrastructure optimization and also includes e-commerce and marketplace ordering, workforce management, data analytics and augmentation, business intelligence, route optimization, cash management, task management shift management, asset tracking, real-time alerts, cloud communications, and communications infrastructure services and products through consulting, design, construction, and maintenance.

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