LGHL (Lion Group Holding) Beneish M-Score : 0.00 (As of Mar. 16, 2025)

View and export this data going back to 2020. Start your Free Trial

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

During the past 6 years, the highest Beneish M-Score of Lion Group Holding was 5.18. The lowest was 1.77. And the median was 3.48.

Lion Group Holding Beneish M-Score Historical Data

The historical data trend for Lion Group Holding'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.

Lion Group Holding Beneish M-Score Chart

Lion Group Holding Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

Get a 7-Day Free Trial

5.18

1.77

Lion Group Holding Semi-Annual Data
	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
Beneish M-Score	Get a 7-Day Free Trial							-	-	-	-	-

Competitive Comparison of Lion Group Holding's Beneish M-Score

For the Capital Markets subindustry, Lion Group Holding'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.

Lion Group Holding's Beneish M-Score Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Lion Group Holding's Beneish M-Score distribution charts can be found below:

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

Lion Group Holding 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 Lion Group Holding 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 (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $13.92 Mil.
Revenue was $19.93 Mil.
Gross Profit was $10.06 Mil.
Total Current Assets was $53.43 Mil.
Total Assets was $74.55 Mil.
Property, Plant and Equipment(Net PPE) was $20.44 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.36 Mil.
Selling, General, & Admin. Expense(SGA) was $12.97 Mil.
Total Current Liabilities was $44.34 Mil.
Long-Term Debt & Capital Lease Obligation was $1.68 Mil.
Net Income was $-5.26 Mil.
Gross Profit was $1.73 Mil.
Cash Flow from Operations was $13.41 Mil.

Total Receivables was $41.04 Mil.
Revenue was $-3.59 Mil.
Gross Profit was $-12.37 Mil.
Total Current Assets was $69.04 Mil.
Total Assets was $86.63 Mil.
Property, Plant and Equipment(Net PPE) was $14.95 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.70 Mil.
Selling, General, & Admin. Expense(SGA) was $12.91 Mil.
Total Current Liabilities was $53.87 Mil.
Long-Term Debt & Capital Lease Obligation was $4.68 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)
	=	(13.921 / 19.928)	/	(41.039 / -3.588)
	=	0.698565	/
	=

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)
	=	(-12.365 / -3.588)	/	(10.057 / 19.928)
	=		/	0.504667
	=

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 - (53.429 + 20.438) / 74.545)	/	(1 - (69.044 + 14.947) / 86.634)
	=	0.009095	/	0.030508
	=

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
	=	19.928	/	-3.588
	=

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))
	=	(2.695 / (2.695 + 14.947))	/	(2.362 / (2.362 + 20.438))
	=	0.15276	/	0.103596
	=

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)
	=	(12.966 / 19.928)	/	(12.908 / -3.588)
	=	0.650642	/
	=

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)
	=	((1.681 + 44.342) / 74.545)	/	((4.68 + 53.866) / 86.634)
	=	0.617385	/	0.675785
	=

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
	=	(-5.259 - 1.729	-	13.413)	/	74.545
	=	-0.273674

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.

Lion Group Holding Beneish M-Score Related Terms

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

Lion Group Holding Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » Lion Group Holding Ltd (NAS:LGHL) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

3 Phillip Street, No.15-04, Royal Group Building, Singapore, SGP, 048693

Website

https://www.liongrouphl.com

Lion Group Holding Ltd is an investor-focused trading platform that offers various products and services. The company's current business lines include total return swap (TRS) trading business, contracts for difference (CFD) trading services, Hong Kong-based Over-The-Counter (OTC) stock options trading business, and futures and securities brokerage services. It provides these services through its Lion Brokers Pro and a variety of other applications. The company generates a majority of its revenue from its CFD trading services business. Geographically, the firm's key revenue-generating market is Hong Kong.