Ironstone Group (Ironstone Group) Beneish M-Score : 0.00 (As of May. 25, 2024)

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

During the past 13 years, the highest Beneish M-Score of Ironstone Group was 0.00. The lowest was 0.00. And the median was 0.00.

Ironstone Group Beneish M-Score Historical Data

The historical data trend for Ironstone Group'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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Ironstone Group Beneish M-Score Chart

Ironstone Group Annual Data

Trend

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec20

Dec21

Dec22

Beneish M-Score

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Ironstone Group Quarterly Data
	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of Ironstone Group's Beneish M-Score

For the Conglomerates subindustry, Ironstone Group'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.

Ironstone Group's Beneish M-Score Distribution in the Conglomerates Industry

For the Conglomerates industry and Industrials sector, Ironstone Group's Beneish M-Score distribution charts can be found below:

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

Ironstone Group 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 Ironstone Group 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 (Dec22) TTM:

Last Year (Dec21) TTM:

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $4.67 Mil.
Total Assets was $4.67 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.36 Mil.
Total Current Liabilities was $0.39 Mil.
Long-Term Debt & Capital Lease Obligation was $2.62 Mil.
Net Income was -0.329 + -0.158 + -0.144 + -0.146 = $-0.78 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was 0.475 + -1.278 + -0.067 + -0.083 = $-0.95 Mil.

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $5.60 Mil.
Total Assets was $5.60 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.22 Mil.
Total Current Liabilities was $0.57 Mil.
Long-Term Debt & Capital Lease Obligation was $2.95 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 / 0)	/	(0 / 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 - (4.67 + 0) / 4.67)	/	(1 - (5.595 + 0) / 5.595)
	=	0	/	0
	=

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 + 0))	/	(0 / (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)
	=	(0.358 / 0)	/	(0.222 / 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)
	=	((2.619 + 0.388) / 4.67)	/	((2.954 + 0.566) / 5.595)
	=	0.643897	/	0.629133
	=

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
	=	(-0.777 - 0	-	-0.953)	/	4.67
	=	0.037687

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.

Ironstone Group Beneish M-Score Related Terms

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Ironstone Group (Ironstone Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Conglomerates » Ironstone Group Inc (OTCPK:IRNS) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

909 Montgomery Street, 3rd Floor, San Francisco, CA, USA, 94133

Website

http://www.ironstonegroupinc.com

Ironstone Group Inc is engaged in funding and growing disruptive businesses.

Executives

Harold S Bradley	director	11613 PAWNEE LANE, LEAWOOD KS 66211
Eugene Yates	officer: CFO	8 NAVAJO CT, ALAMO CA 94507
Thomas Thurston	director	909 MONTGOMERY STREET, 3RD FLOOR, SAN FRANCISCO CA 94133
Elizabeth Boyer Hambrecht	officer: CFO	1356 GREENWICH STREET, SAN FRANCISCO CA 94109
William R Hambrecht	director, 10 percent owner	C/O ADOBE SUSTEMS INC, 345 PARK AVENUE P O BOX 2704, SAN JOSE CA 95110-2704
Hambrecht 1980 Revocable Trust	10 percent owner
Venture Associates Bvi Ltd	10 percent owner	ONE BUSH ST, SAN FRANCISCO CA 94104
Amquist	10 percent owner	ONE BUSH ST, SAN FRANCISCO CA 94104
H&q Ventures Iv	10 percent owner	ONE BUSH STREET, SAN FRANCISCO CA 94104
Hambrecht & Quist California	10 percent owner	ONE BUSH ST, SAN FRANCISCO CA 94104
J P Morgan Securities Inc	10 percent owner
Hambrecht & Quist Venture Partners	10 percent owner	ONE BUSH STREET, SAN FRANCISCO CA 94104
Nicholas J Giordano	director, officer: CEO/CFO	539 BRYANT ST, SUITE 100, SAN FRANCISCO CA 94107

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