Paranovus Entertainment Technology (Paranovus Entertainment Technology) Beneish M-Score : -9.29 (As of May. 14, 2024)

View and export this data going back to 2019. Start your Free Trial

What is Paranovus Entertainment 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.

Good Sign:

Beneish M-Score -9.29 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

PAVS' s Beneish M-Score Range Over the Past 10 Years
Min: -9.29 Med: -2.11 Max: 0.71
Current: -9.29

During the past 7 years, the highest Beneish M-Score of Paranovus Entertainment Technology was 0.71. The lowest was -9.29. And the median was -2.11.

Paranovus Entertainment Technology Beneish M-Score Historical Data

The historical data trend for Paranovus Entertainment 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.

* Premium members only.

Paranovus Entertainment Technology Beneish M-Score Chart

Paranovus Entertainment Technology Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Beneish M-Score

Get a 7-Day Free Trial

-0.82

-2.11

-2.46

0.71

-9.29

Paranovus Entertainment Technology Semi-Annual Data
	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
Beneish M-Score	Get a 7-Day Free Trial									-	0.71	-	-9.29	-

Competitive Comparison of Paranovus Entertainment Technology's Beneish M-Score

For the Packaged Foods subindustry, Paranovus Entertainment 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.

Paranovus Entertainment Technology's Beneish M-Score Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Paranovus Entertainment Technology's Beneish M-Score distribution charts can be found below:

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

Paranovus Entertainment 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 Paranovus Entertainment 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 * 0.1235

0.528 * 0.8054

0.404 * 1.6374

0.892 * 1.0968

0.115 * 0.5709

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1796

4.679 * -1.168987

0.327 * 3.1328

-9.29

This Year (Mar23) TTM:

Last Year (Mar22) TTM:

Total Receivables was $3.96 Mil.
Revenue was $98.15 Mil.
Gross Profit was $5.05 Mil.
Total Current Assets was $9.79 Mil.
Total Assets was $36.34 Mil.
Property, Plant and Equipment(Net PPE) was $8.47 Mil.
Depreciation, Depletion and Amortization(DDA) was $3.38 Mil.
Selling, General, & Admin. Expense(SGA) was $64.18 Mil.
Total Current Liabilities was $20.95 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was $-71.74 Mil.
Gross Profit was $-8.17 Mil.
Cash Flow from Operations was $-21.09 Mil.

Total Receivables was $29.23 Mil.
Revenue was $89.49 Mil.
Gross Profit was $3.71 Mil.
Total Current Assets was $56.57 Mil.
Total Assets was $97.43 Mil.
Property, Plant and Equipment(Net PPE) was $11.25 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.19 Mil.
Selling, General, & Admin. Expense(SGA) was $49.60 Mil.
Total Current Liabilities was $17.93 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)
	=	(3.961 / 98.153)	/	(29.233 / 89.489)
	=	0.040355	/	0.326666
	=	0.1235

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)
	=	(3.711 / 89.489)	/	(5.054 / 98.153)
	=	0.041469	/	0.051491
	=	0.8054

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 - (9.786 + 8.47) / 36.34)	/	(1 - (56.57 + 11.247) / 97.426)
	=	0.497633	/	0.303913
	=	1.6374

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
	=	98.153	/	89.489
	=	1.0968

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))
	=	(2.187 / (2.187 + 11.247))	/	(3.379 / (3.379 + 8.47))
	=	0.162796	/	0.285172
	=	0.5709

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)
	=	(64.179 / 98.153)	/	(49.603 / 89.489)
	=	0.653867	/	0.554292
	=	1.1796

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 + 20.953) / 36.34)	/	((0 + 17.931) / 97.426)
	=	0.576582	/	0.184047
	=	3.1328

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
	=	(-71.739 - -8.167	-	-21.091)	/	36.34
	=	-1.168987

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.

Paranovus Entertainment Technology has a M-score of -9.29 suggests that the company is unlikely to be a manipulator.

Paranovus Entertainment Technology Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Paranovus Entertainment Technology's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Paranovus Entertainment Technology (Paranovus Entertainment Technology) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Paranovus Entertainment Technology Ltd (NAS:PAVS) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Number 11, Dongjiao East Road, Shuangxi, Shunchang, Fujian Province, Nanping, CHN, 353200

Website

https://www.happ.org.cn

Paranovus Entertainment Technology Ltd is a nutraceutical and dietary supplements producer focused on the research, development, manufacturing, and marketing of products made from Chinese herbal extracts. The company's segment includes Healthcare products; Automobile; Online store and Internet information and advertising service. It generates maximum revenue from the Online store segment.