Hut 8 Beneish M-Score Historical Data
The historical data trend for Hut 8'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.
Hut 8 Beneish M-Score Chart
|
Hut 8 Annual Data
|
|
Trend |
Jun21 |
Jun22 |
Jun23 |
Dec24 |
| Beneish M-Score |
|
- |
- |
-3.02 |
0.98 |
|
Hut 8 Quarterly Data
|
|
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
14.10 |
10.70 |
3.34 |
4.84 |
0.98 |
Competitive Comparison of Hut 8's Beneish M-Score
For the Capital Markets subindustry, Hut 8'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.
Hut 8's Beneish M-Score Distribution in the Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Hut 8's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Hut 8's Beneish M-Score falls into.
Hut 8 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 Hut 8 for today is based on a combination of the following eight different indices:
| M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
| = | -4.84 | + | 0.92 * 0.673 | + | 0.528 * 0.6583 | + | 0.404 * 0.9099 | + | 0.892 * 4.4123 | + | 0.115 * 0.9977 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.2816 | + | 4.679 * 0.22157 | - | 0.327 * 0.8325 |
| = | 1.26 |
* 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.
| This Year (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was MXN168 Mil.
Revenue was 7087.83 + 830.596 + -671.01 + 5415.607 = MXN12,663 Mil.
Gross Profit was 6664.189 + 484.854 + -1049.064 + 4948.472 = MXN11,048 Mil.
Total Current Assets was MXN5,357 Mil.
Total Assets was MXN31,677 Mil.
Property, Plant and Equipment(Net PPE) was MXN5,053 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN938 Mil.
Selling, General, & Admin. Expense(SGA) was MXN1,371 Mil.
Total Current Liabilities was MXN3,211 Mil.
Long-Term Debt & Capital Lease Obligation was MXN5,698 Mil.
Net Income was 3174.759 + 12.74 + -1316.593 + 4163.602 = MXN6,035 Mil.
Non Operating Income was -347.811 + 222.737 + 373.345 + 38.387 = MXN287 Mil.
Cash Flow from Operations was -451.317 + -82.739 + -299.534 + -437.195 = MXN-1,271 Mil.
|
Total Receivables was MXN57 Mil.
Revenue was 1806.671 + 387.327 + 369.16 + 306.749 = MXN2,870 Mil.
Gross Profit was 1086.98 + 181.871 + 195.766 + 183.711 = MXN1,648 Mil.
Total Current Assets was MXN1,046 Mil.
Total Assets was MXN12,575 Mil.
Property, Plant and Equipment(Net PPE) was MXN2,251 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN417 Mil.
Selling, General, & Admin. Expense(SGA) was MXN1,104 Mil.
Total Current Liabilities was MXN1,911 Mil.
Long-Term Debt & Capital Lease Obligation was MXN2,338 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) |
| = | (168.139 / 12663.023) | / | (56.626 / 2869.907) |
| = | 0.013278 | / | 0.019731 |
| | = | 0.673 |
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) |
| = | (1648.328 / 2869.907) | / | (11048.451 / 12663.023) |
| = | 0.574349 | / | 0.872497 |
| | = | 0.6583 |
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 - (5356.599 + 5052.794) / 31676.888) | / | (1 - (1045.953 + 2250.836) / 12575.202) |
| = | 0.671388 | / | 0.737834 |
| | = | 0.9099 |
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 |
| = | 12663.023 | / | 2869.907 |
| | = | 4.4123 |
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)) |
| = | (416.564 / (416.564 + 2250.836)) | / | (937.675 / (937.675 + 5052.794)) |
| = | 0.156169 | / | 0.156528 |
| | = | 0.9977 |
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) |
| = | (1371.317 / 12663.023) | / | (1103.649 / 2869.907) |
| = | 0.108293 | / | 0.384559 |
| | = | 0.2816 |
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) |
| = | ((5698.028 + 3210.839) / 31676.888) | / | ((2337.643 + 1910.587) / 12575.202) |
| = | 0.281242 | / | 0.337826 |
| | = | 0.8325 |
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 |
| = | (6034.508 - 286.658 | - | -1270.785) | / | 31676.888 |
| | = | 0.22157 |
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.
Hut 8 has a M-score of 1.26 signals that the company is likely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
MEX:HUT1 has been successfully added to your