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HUMBL (HMBL) Beneish M-Score : -10.93 (As of Mar. 17, 2025)


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What is HUMBL 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 -10.93 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HMBL' s Beneish M-Score Range Over the Past 10 Years
Min: -46.25   Med: -35.01   Max: -9.77
Current: -10.93

During the past 9 years, the highest Beneish M-Score of HUMBL was -9.77. The lowest was -46.25. And the median was -35.01.


HUMBL Beneish M-Score Historical Data

The historical data trend for HUMBL'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.

HUMBL Beneish M-Score Chart

HUMBL Annual Data
Trend Dec02 Dec03 Dec04 Dec05 Dec06 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only -2.72 -40.35 - -33.69 -22.81

HUMBL Quarterly Data
Dec06 Mar07 Jun07 Sep07 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -46.25 -22.81 -9.77 -12.89 -10.93

Competitive Comparison of HUMBL's Beneish M-Score

For the Software - Application subindustry, HUMBL'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.


HUMBL's Beneish M-Score Distribution in the Software Industry

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

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



HUMBL 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 HUMBL for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 0+0.528 * 1.339+0.404 * 0.1181+0.892 * 1.617+0.115 * 0.9736
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.3965+4.679 * -1.769666-0.327 * 0.1457
=-10.93

* 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.

This Year (Sep24) TTM:Last Year (Sep23) TTM:
Total Receivables was $0.00 Mil.
Revenue was 0.114 + 0.157 + 0.342 + 0.721 = $1.33 Mil.
Gross Profit was 0.073 + -0.005 + 0.05 + 0.487 = $0.61 Mil.
Total Current Assets was $3.30 Mil.
Total Assets was $3.53 Mil.
Property, Plant and Equipment(Net PPE) was $0.01 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.16 Mil.
Selling, General, & Admin. Expense(SGA) was $8.68 Mil.
Total Current Liabilities was $5.23 Mil.
Long-Term Debt & Capital Lease Obligation was $0.35 Mil.
Net Income was -2.331 + -2.961 + -0.232 + -5.083 = $-10.61 Mil.
Non Operating Income was -0.474 + -0.635 + 2.119 + -2.369 = $-1.36 Mil.
Cash Flow from Operations was -0.496 + -0.531 + -0.808 + -1.159 = $-2.99 Mil.
Total Receivables was $0.13 Mil.
Revenue was 0.087 + 0.119 + 0.271 + 0.348 = $0.83 Mil.
Gross Profit was 0.059 + 0.036 + 0.147 + 0.259 = $0.50 Mil.
Total Current Assets was $0.55 Mil.
Total Assets was $1.26 Mil.
Property, Plant and Equipment(Net PPE) was $0.02 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.21 Mil.
Selling, General, & Admin. Expense(SGA) was $13.54 Mil.
Total Current Liabilities was $7.75 Mil.
Long-Term Debt & Capital Lease Obligation was $5.90 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 / 1.334) / (0.13 / 0.825)
=0 / 0.157576
=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)
=(0.501 / 0.825) / (0.605 / 1.334)
=0.607273 / 0.453523
=1.339

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 - (3.298 + 0.007) / 3.534) / (1 - (0.554 + 0.015) / 1.261)
=0.064799 / 0.548771
=0.1181

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
=1.334 / 0.825
=1.617

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))
=(0.205 / (0.205 + 0.015)) / (0.156 / (0.156 + 0.007))
=0.931818 / 0.957055
=0.9736

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)
=(8.679 / 1.334) / (13.536 / 0.825)
=6.505997 / 16.407273
=0.3965

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)
=((0.345 + 5.227) / 3.534) / ((5.904 + 7.746) / 1.261)
=1.576684 / 10.824742
=0.1457

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
=(-10.607 - -1.359 - -2.994) / 3.534
=-1.769666

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.

HUMBL has a M-score of -10.93 suggests that the company is unlikely to be a manipulator.


HUMBL Business Description

Traded in Other Exchanges
N/A
Address
101 W. Broadway, Suite 1450, San Diego, CA, USA, 92101
HUMBL Inc is a digital commerce company. It operates a platform to connect consumers, businesses, and governments in the digital economy. HUMBL provides simple tools and packaging for complex new technologies such as blockchain, in the same way that previous cycles of e-commerce and the cloud were more simply packaged by companies such as Facebook, Apple, Amazon and Netflix over the past several decades. The company's segment includes Consumer and Commercial. It generates maximum revenue from the Consumer segment. They account for revenues based on the verticals in which they were earned, the three principal verticals being HUMBL Wallet, and HUMBL Marketplace, HBS.
Executives
Dcr, Llc 10 percent owner 5 WICKS END LANE, WILTON CT 06897
David W Whitwell officer: Chief Financial Officer, VP
Forrest Jordan director, 10 percent owner, Senior VP, Director PO BOX 412, PALM CITY FL 34991
Grey Pema director, 10 percent owner, Senior VP, Director 2403 SW MURPHY RD, PALM CITY FL 34991
Joseph A Equale director 51 TURTLENECK ROAD, WILTON CT 06807
Paul F Boucher director, 10 percent owner 1006 SW WOODCREEK DR, PALM CITY FL 34952
James Lafond director 1005 EATON DR, MCLEAN VA 22102
Carl Anderson director 2400 BERNVILLE RD, READING PA 19605
Robert B Rogers director 15 PADDOCK CIRCLE, EAST FALMOUTH MA 02536
Boucher Henry J Jr director, 10 percent owner, officer: Chief Financial Officer 5 WICKS END LANE, WILTON CT 06897