Revolution Lighting Technologies (Revolution Lighting Technologies) Beneish M-Score : 0.00 (As of Apr. 26, 2024)

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What is Revolution Lighting Technologies 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.

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

During the past 13 years, the highest Beneish M-Score of Revolution Lighting Technologies was 0.00. The lowest was 0.00. And the median was 0.00.

Revolution Lighting Technologies Beneish M-Score Historical Data

The historical data trend for Revolution Lighting Technologies'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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Revolution Lighting Technologies Beneish M-Score Chart

Revolution Lighting Technologies Annual Data

Trend

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Beneish M-Score

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1.09

0.48

-1.54

-2.01

-3.22

Revolution Lighting Technologies Quarterly Data
	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18
Beneish M-Score	Get a 7-Day Free Trial															-2.14	-2.39	-3.22	-3.12	-3.03

Competitive Comparison of Revolution Lighting Technologies's Beneish M-Score

For the Electrical Equipment & Parts subindustry, Revolution Lighting Technologies'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.

Revolution Lighting Technologies's Beneish M-Score Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Revolution Lighting Technologies's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Revolution Lighting Technologies's Beneish M-Score falls into.

Revolution Lighting Technologies 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 Revolution Lighting Technologies 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 * 0.8664

0.528 * 1.2055

0.404 * 0.987

0.892 * 0.8471

0.115 * 1.0582

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1836

4.679 * -0.049872

0.327 * 1.2659

-2.98

This Year (Jun18) TTM:

Last Year (Jun17) TTM:

Total Receivables was $41.8 Mil.
Revenue was 36.444 + 33.739 + 35.283 + 43.084 = $148.6 Mil.
Gross Profit was 11.775 + 11.499 + 3.463 + 13.877 = $40.6 Mil.
Total Current Assets was $78.5 Mil.
Total Assets was $170.2 Mil.
Property, Plant and Equipment(Net PPE) was $2.1 Mil.
Depreciation, Depletion and Amortization(DDA) was $6.6 Mil.
Selling, General, & Admin. Expense(SGA) was $45.8 Mil.
Total Current Liabilities was $33.0 Mil.
Long-Term Debt & Capital Lease Obligation was $59.8 Mil.
Net Income was -2.198 + -2.19 + -45.705 + -2.52 = $-52.6 Mil.
Non Operating Income was -0.79 + -0.169 + -32.156 + -1.233 = $-34.3 Mil.
Cash Flow from Operations was -6.771 + -4.441 + 2.617 + -1.181 = $-9.8 Mil.

Total Receivables was $56.9 Mil.
Revenue was 43.375 + 30.57 + 51.242 + 50.168 = $175.4 Mil.
Gross Profit was 14.248 + 10.074 + 17.607 + 15.866 = $57.8 Mil.
Total Current Assets was $98.4 Mil.
Total Assets was $214.7 Mil.
Property, Plant and Equipment(Net PPE) was $1.7 Mil.
Depreciation, Depletion and Amortization(DDA) was $7.0 Mil.
Selling, General, & Admin. Expense(SGA) was $45.7 Mil.
Total Current Liabilities was $40.8 Mil.
Long-Term Debt & Capital Lease Obligation was $51.7 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)
	=	(41.776 / 148.55)	/	(56.919 / 175.355)
	=	0.281225	/	0.324593
	=	0.8664

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)
	=	(57.795 / 175.355)	/	(40.614 / 148.55)
	=	0.329589	/	0.273403
	=	1.2055

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 - (78.493 + 2.051) / 170.215)	/	(1 - (98.442 + 1.651) / 214.671)
	=	0.52681	/	0.533738
	=	0.987

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
	=	148.55	/	175.355
	=	0.8471

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))
	=	(6.972 / (6.972 + 1.651))	/	(6.642 / (6.642 + 2.051))
	=	0.808535	/	0.764063
	=	1.0582

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)
	=	(45.828 / 148.55)	/	(45.706 / 175.355)
	=	0.308502	/	0.260648
	=	1.1836

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)
	=	((59.835 + 32.976) / 170.215)	/	((51.692 + 40.771) / 214.671)
	=	0.545257	/	0.43072
	=	1.2659

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
	=	(-52.613 - -34.348	-	-9.776)	/	170.215
	=	-0.049872

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.

Revolution Lighting Technologies has a M-score of -2.98 suggests that the company is unlikely to be a manipulator.

Revolution Lighting Technologies Beneish M-Score Related Terms

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Revolution Lighting Technologies (Revolution Lighting Technologies) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Revolution Lighting Technologies Inc (GREY:RVLT) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

177 Broad Street, 12th Floor, Stamford, CT, USA, 06901

Website

http://www.rvlti.com

Revolution Lighting Technologies Inc manufactures electronic components. Its products comprise of the commercial grade light-emitting diode (LED) and conventional lighting fixtures which are used in LED-based signage, channel-letter and contour lighting products, LED replacement lamps and commercial grade smart grid control systems. It sells its LED products under the RVLT, Seesmart, Lumificient, Value Lighting, Array and CMG brand names. The company generates its revenue from the sale of lighting products for use in the commercial, industrial and government markets.