Advanced Bitcoin Technologies AG (HAM:ABT) Beneish M-Score : 2.60 (As of Mar. 27, 2025)

View and export this data going back to 2021. Start your Free Trial

What is Advanced Bitcoin Technologies AG 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 2.6 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Advanced Bitcoin Technologies AG's Beneish M-Score or its related term are showing as below:

HAM:ABT' s Beneish M-Score Range Over the Past 10 Years
Min: -63.36 Med: 2.6 Max: 7.51
Current: 2.6

During the past 5 years, the highest Beneish M-Score of Advanced Bitcoin Technologies AG was 7.51. The lowest was -63.36. And the median was 2.60.

Advanced Bitcoin Technologies AG Beneish M-Score Historical Data

The historical data trend for Advanced Bitcoin Technologies AG'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.

* Premium members only.

Advanced Bitcoin Technologies AG Beneish M-Score Chart

Advanced Bitcoin Technologies AG Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

7.51

-63.36

2.60

Advanced Bitcoin Technologies AG Semi-Annual Data
	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
Beneish M-Score	Get a 7-Day Free Trial					-	-63.36	-	2.60	-

Competitive Comparison of Advanced Bitcoin Technologies AG's Beneish M-Score

For the Software - Infrastructure subindustry, Advanced Bitcoin Technologies AG'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.

Advanced Bitcoin Technologies AG's Beneish M-Score Distribution in the Software Industry

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

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

Save

Advanced Bitcoin Technologies AG 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 Advanced Bitcoin Technologies AG 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 * 8.7033

0.528 * -0.3693

0.404 * 0.5957

0.892 * 0.4432

0.115 * 1.0024

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.2868

4.679 * -0.185865

0.327 * 0.0836

2.60

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was €0.05 Mil.
Revenue was €0.04 Mil.
Gross Profit was €-0.08 Mil.
Total Current Assets was €8.16 Mil.
Total Assets was €9.75 Mil.
Property, Plant and Equipment(Net PPE) was €0.01 Mil.
Depreciation, Depletion and Amortization(DDA) was €1.86 Mil.
Selling, General, & Admin. Expense(SGA) was €0.21 Mil.
Total Current Liabilities was €0.31 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 Mil.
Net Income was €-1.58 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €0.23 Mil.

Total Receivables was €0.01 Mil.
Revenue was €0.09 Mil.
Gross Profit was €0.07 Mil.
Total Current Assets was €8.56 Mil.
Total Assets was €11.78 Mil.
Property, Plant and Equipment(Net PPE) was €0.01 Mil.
Depreciation, Depletion and Amortization(DDA) was €3.98 Mil.
Selling, General, & Admin. Expense(SGA) was €0.37 Mil.
Total Current Liabilities was €4.54 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)
	=	(0.054 / 0.039)	/	(0.014 / 0.088)
	=	1.384615	/	0.159091
	=	8.7033

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)
	=	(0.07 / 0.088)	/	(-0.084 / 0.039)
	=	0.795455	/	-2.153846
	=	-0.3693

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 - (8.157 + 0.01) / 9.749)	/	(1 - (8.561 + 0.012) / 11.783)
	=	0.162273	/	0.272426
	=	0.5957

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
	=	0.039	/	0.088
	=	0.4432

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))
	=	(3.978 / (3.978 + 0.012))	/	(1.859 / (1.859 + 0.01))
	=	0.996992	/	0.99465
	=	1.0024

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)
	=	(0.211 / 0.039)	/	(0.37 / 0.088)
	=	5.410256	/	4.204545
	=	1.2868

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 + 0.314) / 9.749)	/	((0 + 4.54) / 11.783)
	=	0.032208	/	0.385301
	=	0.0836

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
	=	(-1.58 - 0	-	0.232)	/	9.749
	=	-0.185865

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.

Advanced Bitcoin Technologies AG has a M-score of 2.60 signals that the company is likely to be a manipulator.

Advanced Bitcoin Technologies AG Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Advanced Bitcoin Technologies AG's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Advanced Bitcoin Technologies AG Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Advanced Bitcoin Technologies AG (HAM:ABT) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Gruneburgweg 58 - 62, Intzestr. 1, Frankfurt am Main, DEU, D - 60322

Website

https://www.abt-ag.com

Advanced Bitcoin Technologies AG is a Germany based company engaged in the business of cryptocurrencies which enables the users to handle their daily financial transactions.