Huddled Group (LSE:HUD) Beneish M-Score : -1.79 (As of Jun. 30, 2025)

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What is Huddled 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.

Good Sign:

Beneish M-Score -1.79 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

LSE:HUD' s Beneish M-Score Range Over the Past 10 Years
Min: -5.8 Med: -2.54 Max: 13.32
Current: -1.79

During the past 8 years, the highest Beneish M-Score of Huddled Group was 13.32. The lowest was -5.80. And the median was -2.54.

Huddled Group Beneish M-Score Historical Data

The historical data trend for Huddled 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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Huddled Group Beneish M-Score Chart

Huddled Group Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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-3.29

-1.78

-5.80

13.32

-1.79

Huddled Group Semi-Annual Data
	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24
Beneish M-Score	Get a 7-Day Free Trial										-5.80	-	13.32	-	-1.79

Competitive Comparison of Huddled Group's Beneish M-Score

For the Entertainment subindustry, Huddled 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.

Huddled Group's Beneish M-Score Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Huddled Group's Beneish M-Score distribution charts can be found below:

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

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Huddled 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 Huddled 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 * 0.0939

0.528 * -2.2384

0.404 * 1.3386

0.892 * 5.8696

0.115 * 1.1704

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.2609

4.679 * -0.071766

0.327 * 4.2346

-1.79

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was £0.95 Mil.
Revenue was £14.22 Mil.
Gross Profit was £0.12 Mil.
Total Current Assets was £4.19 Mil.
Total Assets was £8.68 Mil.
Property, Plant and Equipment(Net PPE) was £0.35 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.52 Mil.
Selling, General, & Admin. Expense(SGA) was £4.31 Mil.
Total Current Liabilities was £2.18 Mil.
Long-Term Debt & Capital Lease Obligation was £0.02 Mil.
Net Income was £-3.85 Mil.
Gross Profit was £0.00 Mil.
Cash Flow from Operations was £-3.23 Mil.

Total Receivables was £1.73 Mil.
Revenue was £2.42 Mil.
Gross Profit was £-0.05 Mil.
Total Current Assets was £6.91 Mil.
Total Assets was £11.05 Mil.
Property, Plant and Equipment(Net PPE) was £0.21 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.48 Mil.
Selling, General, & Admin. Expense(SGA) was £2.81 Mil.
Total Current Liabilities was £0.64 Mil.
Long-Term Debt & Capital Lease Obligation was £0.02 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)
	=	(0.953 / 14.222)	/	(1.73 / 2.423)
	=	0.067009	/	0.713991
	=	0.0939

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)
	=	(-0.045 / 2.423)	/	(0.118 / 14.222)
	=	-0.018572	/	0.008297
	=	-2.2384

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 - (4.192 + 0.351) / 8.681)	/	(1 - (6.906 + 0.209) / 11.05)
	=	0.476673	/	0.356109
	=	1.3386

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
	=	14.222	/	2.423
	=	5.8696

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))
	=	(0.481 / (0.481 + 0.209))	/	(0.517 / (0.517 + 0.351))
	=	0.697101	/	0.595622
	=	1.1704

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)
	=	(4.307 / 14.222)	/	(2.813 / 2.423)
	=	0.302841	/	1.160957
	=	0.2609

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)
	=	((0.018 + 2.181) / 8.681)	/	((0.018 + 0.643) / 11.05)
	=	0.253312	/	0.059819
	=	4.2346

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
	=	(-3.851 - 0	-	-3.228)	/	8.681
	=	-0.071766

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.

Huddled Group has a M-score of -1.79 suggests that the company is unlikely to be a manipulator.

Huddled Group Beneish M-Score Related Terms

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Huddled Group Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » Huddled Group PLC (LSE:HUD) » Definitions » Beneish M-Score

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Traded in Other Exchanges

N/A

Address

80 Mount Street, Cumberland Court, Nottingham, ENG, NG1 6HH

Website

https://www.letsexploregroup.com

Huddled Group PLC formerly Immotion Group PLC provides virtual reality platforms. The principal activities of the Group were: (i) the provision of virtual reality (VR) experiences to partner sites on a revenue share basis and in its own ImmotionVR sites; (ii) the sale of the Group's Let's Explore consumer product; and (iii) the sale of the Group's Uvisan UV-C cleansing products. Activities (i) and (iii) have been disposed of since the reporting date and are included in discontinued operations.