Mobile Tornado Group (LSE:MBT) Beneish M-Score : 0.00 (As of Jun. 19, 2024)

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

During the past 13 years, the highest Beneish M-Score of Mobile Tornado Group was -2.82. The lowest was -7.28. And the median was -3.87.

Mobile Tornado Group Beneish M-Score Historical Data

The historical data trend for Mobile Tornado 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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Mobile Tornado Group Beneish M-Score Chart

Mobile Tornado Group Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Beneish M-Score

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-2.82

-3.04

-5.14

-4.64

Mobile Tornado Group Semi-Annual Data
	Dec13	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23
Beneish M-Score	Get a 7-Day Free Trial															-	-4.64	-	-	-

Competitive Comparison of Mobile Tornado Group's Beneish M-Score

For the Software - Application subindustry, Mobile Tornado 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.

Mobile Tornado Group's Beneish M-Score Distribution in the Software Industry

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

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

Mobile Tornado 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 Mobile Tornado 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 £1.35 Mil.
Revenue was £2.28 Mil.
Gross Profit was £2.22 Mil.
Total Current Assets was £1.58 Mil.
Total Assets was £2.09 Mil.
Property, Plant and Equipment(Net PPE) was £0.51 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.21 Mil.
Selling, General, & Admin. Expense(SGA) was £2.51 Mil.
Total Current Liabilities was £15.85 Mil.
Long-Term Debt & Capital Lease Obligation was £0.29 Mil.
Net Income was £-1.38 Mil.
Gross Profit was £0.00 Mil.
Cash Flow from Operations was £0.07 Mil.

Total Receivables was £1.63 Mil.
Revenue was £2.59 Mil.
Gross Profit was £2.49 Mil.
Total Current Assets was £1.76 Mil.
Total Assets was £1.97 Mil.
Property, Plant and Equipment(Net PPE) was £0.21 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.30 Mil.
Selling, General, & Admin. Expense(SGA) was £2.53 Mil.
Total Current Liabilities was £14.41 Mil.
Long-Term Debt & Capital Lease Obligation was £0.04 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)
	=	(1.354 / 2.279)	/	(1.632 / 2.591)
	=	0.59412	/	0.629873
	=

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)
	=	(2.491 / 2.591)	/	(2.223 / 2.279)
	=	0.961405	/	0.975428
	=

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 - (1.584 + 0.505) / 2.089)	/	(1 - (1.764 + 0.205) / 1.969)
	=	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
	=	2.279	/	2.591
	=

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))
	=	(0.297 / (0.297 + 0.205))	/	(0.212 / (0.212 + 0.505))
	=	0.591633	/	0.295676
	=

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)
	=	(2.507 / 2.279)	/	(2.525 / 2.591)
	=	1.100044	/	0.974527
	=

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)
	=	((0.285 + 15.854) / 2.089)	/	((0.037 + 14.414) / 1.969)
	=	7.725706	/	7.339259
	=

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
	=	(-1.382 - 0	-	0.074)	/	2.089
	=	-0.696984

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.

Mobile Tornado Group Beneish M-Score Related Terms

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Mobile Tornado Group (LSE:MBT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Mobile Tornado Group PLC (LSE:MBT) » Definitions » Beneish M-Score

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Traded in Other Exchanges

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Address

Beckwith Head Road, Cardale House, Cardale Court, Harrogate, North Yorkshire, GBR, HG3 1RY

Website

https://www.mobiletornado.com

Mobile Tornado Group PLC provides instant communication mobile applications serving the market of mobile data services in the mobile communication industry. Its solutions include Push-To-Talk, Push-To-Locate, Push-To-Alert, and Push-To-Message. Geographically, it derives a majority of its revenue from South America and also has a presence in the UK, Europe, North America, Israel, Africa, and Asia/Pacific. The company generates revenue from License fees, Hardware and software, Professional Services, and Support and Maintenance.