MelodyVR Group (LSE:MVR) Beneish M-Score : 0.00 (As of Jun. 17, 2024)

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

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

MelodyVR Group Beneish M-Score Historical Data

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

MelodyVR Group Annual Data

Trend

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Beneish M-Score

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-4.16

-4.13

-3.55

-4.19

-1.29

MelodyVR Group Semi-Annual Data
	Dec10	Jun11	Dec11	Jun12	Dec12	Jun13	Dec13	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20
Beneish M-Score	Get a 7-Day Free Trial															-	-4.19	-	-1.29	-

Competitive Comparison of MelodyVR Group's Beneish M-Score

For the Entertainment subindustry, MelodyVR 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.

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

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

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

MelodyVR 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 MelodyVR 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 * 4.2785

0.528 * 0.0249

0.404 * 2.2366

0.892 * 0.1651

0.115 * 0.7886

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 7.6528

4.679 * 0.047622

0.327 * 1.3627

-1.29

This Year (Dec19) TTM:

Last Year (Dec18) TTM:

Total Receivables was £0.53 Mil.
Revenue was £0.20 Mil.
Gross Profit was £-1.64 Mil.
Total Current Assets was £10.55 Mil.
Total Assets was £14.76 Mil.
Property, Plant and Equipment(Net PPE) was £1.33 Mil.
Depreciation, Depletion and Amortization(DDA) was £1.63 Mil.
Selling, General, & Admin. Expense(SGA) was £14.23 Mil.
Total Current Liabilities was £1.30 Mil.
Long-Term Debt & Capital Lease Obligation was £0.32 Mil.
Net Income was £-14.97 Mil.
Gross Profit was £0.00 Mil.
Cash Flow from Operations was £-15.67 Mil.

Total Receivables was £0.75 Mil.
Revenue was £1.18 Mil.
Gross Profit was £-0.25 Mil.
Total Current Assets was £20.93 Mil.
Total Assets was £23.96 Mil.
Property, Plant and Equipment(Net PPE) was £0.93 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.72 Mil.
Selling, General, & Admin. Expense(SGA) was £11.26 Mil.
Total Current Liabilities was £1.93 Mil.
Long-Term Debt & Capital Lease Obligation was £0.00 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)
	=	(0.527 / 0.195)	/	(0.746 / 1.181)
	=	2.702564	/	0.631668
	=	4.2785

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)
	=	(-0.247 / 1.181)	/	(-1.637 / 0.195)
	=	-0.209145	/	-8.394872
	=	0.0249

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 - (10.55 + 1.325) / 14.762)	/	(1 - (20.93 + 0.934) / 23.959)
	=	0.19557	/	0.087441
	=	2.2366

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
	=	0.195	/	1.181
	=	0.1651

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))
	=	(0.718 / (0.718 + 0.934))	/	(1.627 / (1.627 + 1.325))
	=	0.434625	/	0.551152
	=	0.7886

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)
	=	(14.228 / 0.195)	/	(11.26 / 1.181)
	=	72.964103	/	9.534293
	=	7.6528

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)
	=	((0.323 + 1.3) / 14.762)	/	((0 + 1.933) / 23.959)
	=	0.109944	/	0.080679
	=	1.3627

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
	=	(-14.969 - 0	-	-15.672)	/	14.762
	=	0.047622

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.

MelodyVR Group has a M-score of -1.29 signals that the company is likely to be a manipulator.

MelodyVR Group Beneish M-Score Related Terms

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MelodyVR Group (LSE:MVR) Business Description

Industry

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

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Traded in Other Exchanges

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Address

55 Poland Street, London, GBR, W1F 7NN

Website

https://www.melodyvr.group

MelodyVR Group PLC is a UK based holding company engaged in the business of creating virtual reality content. The company through its subsidiary specializes in the creation and curation of virtual reality content for distribution and consumption through its own platform. It generates revenue from Content sales and Content licensing. Geographically, it derives a majority of revenue from the United Kingdom and also has a presence in Rest of Europe; United States, and Rest of World.

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