Blink Charging Co (MEX:BLNK) Beneish M-Score : -2.78 (As of Mar. 05, 2025)

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What is Blink Charging Co 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 -2.78 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

MEX:BLNK' s Beneish M-Score Range Over the Past 10 Years
Min: -18.9 Med: -1.92 Max: 38.18
Current: -2.78

During the past 13 years, the highest Beneish M-Score of Blink Charging Co was 38.18. The lowest was -18.90. And the median was -1.92.

Blink Charging Co Beneish M-Score Historical Data

The historical data trend for Blink Charging Co'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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Blink Charging Co Beneish M-Score Chart

Blink Charging Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-1.58

-0.31

4.37

1.01

-1.86

Blink Charging Co Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-1.92	-1.86	-1.80	-2.42	-2.78

Competitive Comparison of Blink Charging Co's Beneish M-Score

For the Engineering & Construction subindustry, Blink Charging Co'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.

Blink Charging Co's Beneish M-Score Distribution in the Construction Industry

For the Construction industry and Industrials sector, Blink Charging Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Blink Charging Co's Beneish M-Score falls into.

Blink Charging Co 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 Blink Charging Co 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 * 1.1691

0.528 * 0.964

0.404 * 0.6557

0.892 * 1.1287

0.115 * 1.5154

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.812

4.679 * -0.065972

0.327 * 1.1666

-2.64

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was MXN959 Mil.
Revenue was 476.604 + 608.411 + 613.812 + 721.847 = MXN2,421 Mil.
Gross Profit was 160.22 + 195.311 + 213.03 + 176.566 = MXN745 Mil.
Total Current Assets was MXN3,156 Mil.
Total Assets was MXN5,967 Mil.
Property, Plant and Equipment(Net PPE) was MXN1,068 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN220 Mil.
Selling, General, & Admin. Expense(SGA) was MXN580 Mil.
Total Current Liabilities was MXN1,254 Mil.
Long-Term Debt & Capital Lease Obligation was MXN151 Mil.
Net Income was -1720.716 + -367.483 + -285.007 + -334.206 = MXN-2,707 Mil.
Non Operating Income was -1351.818 + 0.971 + -16.015 + 13.019 = MXN-1,354 Mil.
Cash Flow from Operations was -179.083 + -78.025 + -356.421 + -346.41 = MXN-960 Mil.

Total Receivables was MXN727 Mil.
Revenue was 754.761 + 559.817 + 389.682 + 440.473 = MXN2,145 Mil.
Gross Profit was 221.882 + 207.493 + 81.004 + 126.042 = MXN636 Mil.
Total Current Assets was MXN2,802 Mil.
Total Assets was MXN6,368 Mil.
Property, Plant and Equipment(Net PPE) was MXN729 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN255 Mil.
Selling, General, & Admin. Expense(SGA) was MXN633 Mil.
Total Current Liabilities was MXN1,156 Mil.
Long-Term Debt & Capital Lease Obligation was MXN129 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)
	=	(958.859 / 2420.674)	/	(726.682 / 2144.733)
	=	0.396112	/	0.338822
	=	1.1691

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)
	=	(636.421 / 2144.733)	/	(745.127 / 2420.674)
	=	0.296737	/	0.307818
	=	0.964

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 - (3155.548 + 1067.903) / 5966.614)	/	(1 - (2801.673 + 729.312) / 6368.279)
	=	0.292153	/	0.445535
	=	0.6557

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
	=	2420.674	/	2144.733
	=	1.1287

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))
	=	(255.009 / (255.009 + 729.312))	/	(220.208 / (220.208 + 1067.903))
	=	0.259071	/	0.170954
	=	1.5154

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)
	=	(580.4 / 2420.674)	/	(633.265 / 2144.733)
	=	0.239768	/	0.295265
	=	0.812

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)
	=	((150.966 + 1253.544) / 5966.614)	/	((128.656 + 1156.371) / 6368.279)
	=	0.235395	/	0.201786
	=	1.1666

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
	=	(-2707.412 - -1353.843	-	-959.939)	/	5966.614
	=	-0.065972

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.

Blink Charging Co has a M-score of -2.64 suggests that the company is unlikely to be a manipulator.

Blink Charging Co Beneish M-Score Related Terms

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Blink Charging Co Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Construction » Blink Charging Co (MEX:BLNK) » Definitions » Beneish M-Score

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BLNK:USA

Address

5081 Howerton Way, Suite A, Bowie, MD, USA, 20715

Website

https://www.blinkcharging.com

Blink Charging Co is an owner, operator, and provider of electric vehicle (EV) charging services. The company offers both residential and commercial EV charging equipment, enabling EV drivers to easily recharge at various location types. The company's business is the sale and distribution of electric vehicle charging equipment and its associated revenues earned from customers and/or Property Partners who use equipment connected to its network. It earns majority revenue from U.S.A.