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WiMi Hologram Cloud Beneish M-Score

: -2.77 (As of Today)
View and export this data going back to 2020. Start your Free Trial

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 -2.77 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

NAS:WIMI' s Beneish M-Score Range Over the Past 10 Years
Min: -2.77   Med: -2.77   Max: -2.77
Current: -2.77

During the past 3 years, the highest Beneish M-Score of WiMi Hologram Cloud was -2.77. The lowest was -2.77. And the median was -2.77.


WiMi Hologram Cloud Beneish M-Score Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

WiMi Hologram Cloud Annual Data
Dec17 Dec18 Dec19
Beneish M-Score 0.00 0.00 -2.77

WiMi Hologram Cloud Semi-Annual Data
Dec17 Jun18 Dec18 Jun19 Dec19 Jun20
Beneish M-Score Premium Member Only 0.00 0.00 0.00 -2.77 0.00

Competitive Comparison
* 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.


WiMi Hologram Cloud Beneish M-Score Distribution

* The bar in red indicates where WiMi Hologram Cloud's Beneish M-Score falls into.



WiMi Hologram Cloud 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 WiMi Hologram Cloud 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 * 0.5452+0.528 * 1.1453+0.404 * 1.0569+0.892 * 1.3906+0.115 * 0.9653
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9508+4.679 * -0.0783-0.327 * 0.8581
=-2.77

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

This Year (Dec19) TTM:Last Year (Dec18) TTM:
Accounts Receivable was $5.15 Mil.
Revenue was $45.51 Mil.
Gross Profit was $24.67 Mil.
Total Current Assets was $25.31 Mil.
Total Assets was $80.34 Mil.
Property, Plant and Equipment(Net PPE) was $0.11 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.98 Mil.
Selling, General, & Admin. Expense(SGA) was $5.96 Mil.
Total Current Liabilities was $17.41 Mil.
Long-Term Debt & Capital Lease Obligation was $2.29 Mil.
Net Income was $14.57 Mil.
Gross Profit was $0.34 Mil.
Cash Flow from Operations was $20.52 Mil.
Accounts Receivable was $6.79 Mil.
Revenue was $32.73 Mil.
Gross Profit was $20.32 Mil.
Total Current Assets was $30.99 Mil.
Total Assets was $88.25 Mil.
Property, Plant and Equipment(Net PPE) was $0.18 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.97 Mil.
Selling, General, & Admin. Expense(SGA) was $4.51 Mil.
Total Current Liabilities was $6.66 Mil.
Long-Term Debt & Capital Lease Obligation was $18.56 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Accounts Receivable 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)
=(5.1502060253504 / 45.508219627301) / (6.7931490332234 / 32.725423827302)
=0.1131709 / 0.20758017
=0.5452

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)
=(20.317271234946 / 32.725423827302) / (24.66800690078 / 45.508219627301)
=0.62084058 / 0.54205607
=1.1453

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 - (25.309180603676 + 0.10964255671044) / 80.342615167458) / (1 - (30.985516510016 + 0.1836221799323) / 88.24948792074)
=0.68361967 / 0.64680658
=1.0569

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
=45.508219627301 / 32.725423827302
=1.3906

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))
=(1.9668201693856 / (1.9668201693856 + 0.1836221799323)) / (1.9795543008683 / (1.9795543008683 + 0.10964255671044))
=0.9146119 / 0.94751928
=0.9653

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)
=(5.9607625076636 / 45.508219627301) / (4.5084765460436 / 32.725423827302)
=0.13098211 / 0.13776679
=0.9508

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)
=((2.2866675221352 + 17.412777849067) / 80.342615167458) / ((18.559205078664 + 6.6560134811221) / 88.24948792074)
=0.24519298 / 0.28572651
=0.8581

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
=(14.572051841396 - 0.34090423029214 - 20.524972553716) / 80.342615167458
=-0.0783

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.

WiMi Hologram Cloud has a M-score of -2.77 suggests that the company is unlikely to be a manipulator.


WiMi Hologram Cloud Beneish M-Score Headlines

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