Sharps Compliance Beneish M-Score Historical Data
The historical data trend for Sharps Compliance'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.
Sharps Compliance Beneish M-Score Chart
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Sharps Compliance Annual Data
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Jun12 |
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Jun17 |
Jun18 |
Jun19 |
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Jun21 |
| Beneish M-Score |
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-1.11 |
-2.95 |
-2.23 |
-2.32 |
-3.32 |
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Sharps Compliance Quarterly Data
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Jun17 |
Sep17 |
Dec17 |
Mar18 |
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Dec20 |
Mar21 |
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Mar22 |
| Beneish M-Score |
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-1.43 |
-3.32 |
-2.92 |
-2.71 |
-2.65 |
Competitive Comparison of Sharps Compliance's Beneish M-Score
For the Waste Management subindustry, Sharps Compliance'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.
Sharps Compliance's Beneish M-Score Distribution in the Waste Management Industry
For the Waste Management industry and Industrials sector, Sharps Compliance's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sharps Compliance's Beneish M-Score falls into.
Sharps Compliance 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 Sharps Compliance 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 * 0.6419 | + | 0.528 * 1.3639 | + | 0.404 * 1.1851 | + | 0.892 * 0.9836 | + | 0.115 * 0.9897 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1709 | + | 4.679 * -0.03166 | - | 0.327 * 0.7284 |
| = | -2.65 |
* 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.
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) |
| = | (14.806 / 69.106) | / | (23.452 / 70.258) |
| = | 0.214251 | / | 0.333798 |
| | = | 0.6419 |
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) |
| = | (26.842 / 70.258) | / | (19.357 / 69.106) |
| = | 0.382049 | / | 0.280106 |
| | = | 1.3639 |
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 - (51.975 + 25.142) / 93.336) | / | (1 - (39.492 + 20.006) / 69.721) |
| = | 0.17377 | / | 0.146627 |
| | = | 1.1851 |
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 |
| = | 69.106 | / | 70.258 |
| | = | 0.9836 |
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)) |
| = | (1.86 / (1.86 + 20.006)) | / | (2.364 / (2.364 + 25.142)) |
| = | 0.085064 | / | 0.085945 |
| | = | 0.9897 |
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) |
| = | (17.337 / 69.106) | / | (15.053 / 70.258) |
| = | 0.250875 | / | 0.214253 |
| | = | 1.1709 |
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) |
| = | ((13.552 + 14.847) / 93.336) | / | ((10.303 + 18.82) / 69.721) |
| = | 0.304266 | / | 0.417708 |
| | = | 0.7284 |
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 |
| = | (4.037 - 2.267 | - | 4.725) | / | 93.336 |
| | = | -0.03166 |
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.
Sharps Compliance has a M-score of -2.65 suggests that the company is unlikely to be a manipulator.
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