Tribe Technology (LSE:TRYB) Beneish M-Score : 14.58 (As of Dec. 13, 2024)

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What is Tribe Technology 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.

Warning Sign:

Beneish M-Score 14.58 higher than -1.78, which implies that the company might have manipulated its financial results.

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

LSE:TRYB' s Beneish M-Score Range Over the Past 10 Years
Min: 14.58 Med: 14.58 Max: 14.58
Current: 14.58

During the past 3 years, the highest Beneish M-Score of Tribe Technology was 14.58. The lowest was 14.58. And the median was 14.58.

Tribe Technology Beneish M-Score Historical Data

The historical data trend for Tribe Technology'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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Tribe Technology Beneish M-Score Chart

Tribe Technology Annual Data

Trend

Jun21

Jun22

Jun23

Beneish M-Score

14.58

Tribe Technology Semi-Annual Data
	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Beneish M-Score	Get a 7-Day Free Trial			-	-	-	14.58	-

Competitive Comparison of Tribe Technology's Beneish M-Score

For the Farm & Heavy Construction Machinery subindustry, Tribe Technology'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.

Tribe Technology's Beneish M-Score Distribution in the Farm & Heavy Construction Machinery Industry

For the Farm & Heavy Construction Machinery industry and Industrials sector, Tribe Technology's Beneish M-Score distribution charts can be found below:

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

Tribe Technology 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 Tribe Technology 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 * 0.0397

0.528 * 7.668

0.404 * 0.6785

0.892 * 20

0.115 * 0.7714

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.0693

4.679 * -0.540203

0.327 * 0.9983

14.58

This Year (Jun23) TTM:

Last Year (Jun22) TTM:

Total Receivables was £0.62 Mil.
Revenue was £0.04 Mil.
Gross Profit was £-0.76 Mil.
Total Current Assets was £2.69 Mil.
Total Assets was £3.45 Mil.
Property, Plant and Equipment(Net PPE) was £0.73 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.21 Mil.
Selling, General, & Admin. Expense(SGA) was £3.33 Mil.
Total Current Liabilities was £2.84 Mil.
Long-Term Debt & Capital Lease Obligation was £0.62 Mil.
Net Income was £-3.28 Mil.
Gross Profit was £0.00 Mil.
Cash Flow from Operations was £-1.42 Mil.

Total Receivables was £0.79 Mil.
Revenue was £0.00 Mil.
Gross Profit was £-0.29 Mil.
Total Current Assets was £2.28 Mil.
Total Assets was £3.17 Mil.
Property, Plant and Equipment(Net PPE) was £0.85 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.18 Mil.
Selling, General, & Admin. Expense(SGA) was £2.40 Mil.
Total Current Liabilities was £2.49 Mil.
Long-Term Debt & Capital Lease Obligation was £0.71 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)
	=	(0.624 / 0.04)	/	(0.786 / 0.002)
	=	15.6	/	393
	=	0.0397

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)
	=	(-0.291 / 0.002)	/	(-0.759 / 0.04)
	=	-145.5	/	-18.975
	=	7.668

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 - (2.688 + 0.729) / 3.445)	/	(1 - (2.284 + 0.85) / 3.172)
	=	0.008128	/	0.01198
	=	0.6785

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
	=	0.04	/	0.002
	=	20

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))
	=	(0.178 / (0.178 + 0.85))	/	(0.211 / (0.211 + 0.729))
	=	0.173152	/	0.224468
	=	0.7714

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)
	=	(3.327 / 0.04)	/	(2.402 / 0.002)
	=	83.175	/	1201
	=	0.0693

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)
	=	((0.623 + 2.839) / 3.445)	/	((0.708 + 2.485) / 3.172)
	=	1.004935	/	1.00662
	=	0.9983

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
	=	(-3.276 - 0	-	-1.415)	/	3.445
	=	-0.540203

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.

Tribe Technology has a M-score of 14.58 signals that the company is likely to be a manipulator.

Tribe Technology Beneish M-Score Related Terms

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Tribe Technology Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Farm & Heavy Construction Machinery » Tribe Technology PLC (LSE:TRYB) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

7B Enterprise Way, Mallusk, Belfast, GBR, BT36 4EW

Website

https://www.tribetechgroup.com

Tribe Technology PLC is a company involved in developing and manufacturing of autonomous mining equipment. The Company's core activities are the development, in-house manufacturing, and sale of its autonomous reverse circulation (RC) drill rigs incorporating its core proprietary intellectual property, Tribe Technology Drilling System (TTDS).

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