BTQ Technologies (NEOE:BTQ) Beneish M-Score : 0.00 (As of Dec. 13, 2024)

View and export this data going back to 2023. Start your Free Trial

What is BTQ 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 BTQ Technologies's Beneish M-Score or its related term are showing as below:

During the past 3 years, the highest Beneish M-Score of BTQ Technologies was 0.00. The lowest was 0.00. And the median was 0.00.

BTQ Technologies Beneish M-Score Historical Data

The historical data trend for BTQ 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.

* Premium members only.

BTQ Technologies Beneish M-Score Chart

BTQ Technologies Annual Data

Trend

Dec21

Jan22

Jan23

Beneish M-Score

BTQ Technologies Quarterly Data
	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial								-	-	-	-	-

Competitive Comparison of BTQ Technologies's Beneish M-Score

For the Software - Infrastructure subindustry, BTQ 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.

BTQ Technologies's Beneish M-Score Distribution in the Software Industry

For the Software industry and Technology sector, BTQ Technologies's Beneish M-Score distribution charts can be found below:

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

BTQ 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 BTQ 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was C$0.20 Mil.
Revenue was 0.326 + 0.091 + 0 + 0 = C$0.42 Mil.
Gross Profit was 0.326 + 0.091 + 0 + 0 = C$0.42 Mil.
Total Current Assets was C$1.17 Mil.
Total Assets was C$1.76 Mil.
Property, Plant and Equipment(Net PPE) was C$0.20 Mil.
Depreciation, Depletion and Amortization(DDA) was C$-0.26 Mil.
Selling, General, & Admin. Expense(SGA) was C$5.13 Mil.
Total Current Liabilities was C$2.29 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.76 Mil.
Net Income was -1.029 + -1.695 + -1.834 + -3.015 = C$-7.57 Mil.
Non Operating Income was -0.032 + -0.002 + -0.008 + 0.187 = C$0.15 Mil.
Cash Flow from Operations was -1.052 + -0.628 + -1.692 + -1.583 = C$-4.96 Mil.

Total Receivables was C$0.12 Mil.
Revenue was 0 + 0 + 0 + 0 = C$0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = C$0.00 Mil.
Total Current Assets was C$5.50 Mil.
Total Assets was C$10.52 Mil.
Property, Plant and Equipment(Net PPE) was C$0.16 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.11 Mil.
Selling, General, & Admin. Expense(SGA) was C$6.73 Mil.
Total Current Liabilities was C$0.53 Mil.
Long-Term Debt & Capital Lease Obligation was C$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)
	=	(0.198 / 0.417)	/	(0.117 / 0)
	=	0.47482	/
	=

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)	/	(0.417 / 0.417)
	=		/	1
	=

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 - (1.165 + 0.201) / 1.764)	/	(1 - (5.5 + 0.161) / 10.522)
	=	0.225624	/	0.461984
	=

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
	=	0.417	/	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))
	=	(0.114 / (0.114 + 0.161))	/	(-0.256 / (-0.256 + 0.201))
	=	0.414545	/	4.654545
	=

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)
	=	(5.13 / 0.417)	/	(6.731 / 0)
	=	12.302158	/
	=

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)
	=	((0.759 + 2.292) / 1.764)	/	((0 + 0.533) / 10.522)
	=	1.729592	/	0.050656
	=

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
	=	(-7.573 - 0.145	-	-4.955)	/	1.764
	=	-1.566327

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.

BTQ Technologies Beneish M-Score Related Terms

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

BTQ Technologies Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » BTQ Technologies Corp (NEOE:BTQ) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

BTQQF:USA NG3:Germany

Address

555 Burrard Street, No.16-113, Vancouver, BC, CAN, V7X 1M8

Website

https://www.btq.li

BTQ Technologies Corp is home to a diverse team of builders with a shared interest in post-quantum technology. Its products include PQScale, Keelung, Kenting, and Qbyte. PQScale is a novel scaling technique for post-quantum cryptographic primitives. PQScale achieves transaction speed and cost savings by leveraging zero-knowledge proofs for transaction processing. Keelung is a Zero-Knowledge Toolkit for Fast, Private, and Secure Applications. Kenting has accelerated hardware devices for a variety of post-quantum cryptographic primitives. Kenting provides acceleration for NIST-compliant post-quantum cryptography, post-quantum zk-SNARKs, and eco-friendly mining hardware. Qbyte is a Quantum risk Calculator.