Advanced Bitcoin Technologies AG (HAM:ABT) Beneish M-Score : -11.26 (As of May. 27, 2024)

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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.

Good Sign:

Beneish M-Score -11.26 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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: -11.26 Med: -1.88 Max: 7.51
Current: -11.26

During the past 4 years, the highest Beneish M-Score of Advanced Bitcoin Technologies AG was 7.51. The lowest was -11.26. And the median was -1.88.

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.

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Advanced Bitcoin Technologies AG Beneish M-Score Chart

Advanced Bitcoin Technologies AG Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Beneish M-Score

7.51

-11.26

Advanced Bitcoin Technologies AG Semi-Annual Data
	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23
Beneish M-Score	Get a 7-Day Free Trial			-	7.51	-	-11.26	-

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.

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 * 0.1752

0.528 * -11.8837

0.404 * 0.6261

0.892 * 1.1579

0.115 * 0.9968

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0

4.679 * -0.272596

0.327 * 1.3334

-11.26

This Year (Dec22) TTM:

Last Year (Dec21) TTM:

Total Receivables was €0.01 Mil.
Revenue was €0.09 Mil.
Gross Profit was €0.04 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 €0.00 Mil.
Total Current Liabilities was €4.52 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 Mil.
Net Income was €-2.89 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €0.32 Mil.

Total Receivables was €0.07 Mil.
Revenue was €0.08 Mil.
Gross Profit was €-0.39 Mil.
Total Current Assets was €8.92 Mil.
Total Assets was €15.82 Mil.
Property, Plant and Equipment(Net PPE) was €0.02 Mil.
Depreciation, Depletion and Amortization(DDA) was €2.42 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €4.55 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)
	=	(0.014 / 0.088)	/	(0.069 / 0.076)
	=	0.159091	/	0.907895
	=	0.1752

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)
	=	(-0.39 / 0.076)	/	(0.038 / 0.088)
	=	-5.131579	/	0.431818
	=	-11.8837

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 - (8.561 + 0.012) / 11.783)	/	(1 - (8.921 + 0.015) / 15.819)
	=	0.272426	/	0.43511
	=	0.6261

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
	=	0.088	/	0.076
	=	1.1579

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))
	=	(2.415 / (2.415 + 0.015))	/	(3.978 / (3.978 + 0.012))
	=	0.993827	/	0.996992
	=	0.9968

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 / 0.088)	/	(0.001 / 0.076)
	=	0	/	0.013158
	=	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)
	=	((0.001 + 4.516) / 11.783)	/	((0 + 4.548) / 15.819)
	=	0.383349	/	0.287502
	=	1.3334

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
	=	(-2.893 - 0	-	0.319)	/	11.783
	=	-0.272596

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 -11.26 suggests that the company is unlikely to be a manipulator.

Advanced Bitcoin Technologies AG Beneish M-Score Related Terms

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Advanced Bitcoin Technologies AG (HAM:ABT) 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

Grüneburgweg 58 - 62, 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.