Future Health ESG (Future Health ESG) Beneish M-Score

: 0.00 (As of Today)

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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 Future Health ESG's Beneish M-Score or its related term are showing as below:

During the past 3 years, the highest Beneish M-Score of Future Health ESG was 0.00. The lowest was 0.00. And the median was 0.00.

Future Health ESG Beneish M-Score Historical Data

The historical data trend for Future Health ESG'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.

* Premium members only.

Future Health ESG Annual Data

Trend

Dec21

Dec22

Dec23

Beneish M-Score

Future Health ESG Quarterly Data
	Feb21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score								-	-	-	-	-

Competitive Comparison

For the Shell Companies subindustry, Future Health ESG'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.

Future Health ESG Beneish M-Score Distribution

For the Diversified Financial Services industry and Financial Services sector, Future Health ESG's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Future Health ESG's Beneish M-Score falls into.

Future Health ESG 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 Future Health ESG 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 (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $0.13 Mil.
Total Assets was $17.23 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.63 Mil.
Total Current Liabilities was $8.44 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -0.058 + 0.066 + 0.047 + -0.104 = $-0.05 Mil.
Non Operating Income was 0.189 + 0.213 + 0.195 + 0.175 = $0.77 Mil.
Cash Flow from Operations was -0.138 + -0.063 + -0.359 + -0.158 = $-0.72 Mil.

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $0.93 Mil.
Total Assets was $17.26 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $2.21 Mil.
Total Current Liabilities was $1.32 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 / 0)	/	(0 / 0)
	=		/
	=

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 / 0)	/	(0 / 0)
	=		/
	=

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 - (0.127 + 0) / 17.229)	/	(1 - (0.927 + 0) / 17.258)
	=	0.992629	/	0.946286
	=

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	/	0
	=

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 / (0 + 0))	/	(0 / (0 + 0))
	=		/
	=

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)
	=	(0.627 / 0)	/	(2.206 / 0)
	=		/
	=

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 + 8.441) / 17.229)	/	((0 + 1.315) / 17.258)
	=	0.48993	/	0.076197
	=

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
	=	(-0.049 - 0.772	-	-0.718)	/	17.229
	=	-0.005978

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.

Future Health ESG Beneish M-Score Related Terms

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Future Health ESG (Future Health ESG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Diversified Financial Services » Future Health ESG Corp (NAS:FHLT) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

8 The Green, Suite 12081, Dover, DE, USA, 19901

Website

https://www.fhesg.com

Future Health ESG Corp is a blank check company. It is formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

Executives

Polar Asset Management Partners Inc.	10 percent owner	16 YORK STREET SUITE 2900, TORONTO A6 M5J 0E6
Plc Barclays	10 percent owner	1 CHURCHILL PLACE, CANARY WHARF, LONDON X0 E14 5HP
Snyderman Nancy Lynn Md	director	37 PHEASANT HILL ROAD, PRINCETON NJ 08540
Bradley Bostic	director, 10 percent owner, officer: Chief Executive Officer	8556 OAKMONT LANE, INDIANAPOLIS IN 46260
Future Health Esg Associates 1, Llc	10 percent owner	6100 TECHNOLOGY CENTER DR., INDIANAPOLIS IN 46278
Francis John Mills	director	8 THE GREEN, SUITE #12081, DOVER DE 19901
Travis A Morgan	director, 10 percent owner, officer: CFO and Secretary	8 THE GREEN, SUITE #12081, DOVER DE 19901
Robert Mark Lubbers	director	8 THE GREEN, SUITE #12081, DOVER DE 19901
Mb Equity, Llc	10 percent owner	6100 TECHNOLOGY CENTER DRIVE, INDIANAPOLIS IN 46278

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