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NOWVF (NowVertical Group) Beneish M-Score : 0.00 (As of Mar. 03, 2025)


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

During the past 4 years, the highest Beneish M-Score of NowVertical Group was 4.23. The lowest was -2.74. And the median was -0.97.


NowVertical Group Beneish M-Score Historical Data

The historical data trend for NowVertical Group'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.

NowVertical Group Beneish M-Score Chart

NowVertical Group Annual Data
Trend Dec20 Dec21 Dec22 Dec23
Beneish M-Score
- - 4.23 -1.40

NowVertical Group Quarterly Data
Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -0.97 -1.40 -2.74 -2.67 -

Competitive Comparison of NowVertical Group's Beneish M-Score

For the Software - Infrastructure subindustry, NowVertical Group'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.


NowVertical Group's Beneish M-Score Distribution in the Software Industry

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

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



NowVertical Group 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 NowVertical Group 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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.

This Year (Sep24) TTM:Last Year (Sep23) TTM:
Total Receivables was $11.90 Mil.
Revenue was 10.704 + 12.348 + 12.947 + 10.102 = $46.10 Mil.
Gross Profit was 5.271 + 6.547 + 6.326 + 6.594 = $24.74 Mil.
Total Current Assets was $15.73 Mil.
Total Assets was $42.21 Mil.
Property, Plant and Equipment(Net PPE) was $0.20 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.39 Mil.
Selling, General, & Admin. Expense(SGA) was $20.34 Mil.
Total Current Liabilities was $23.11 Mil.
Long-Term Debt & Capital Lease Obligation was $12.08 Mil.
Net Income was 0.575 + 1.943 + -1.51 + -3.568 = $-2.56 Mil.
Non Operating Income was -0.169 + 2.591 + -0.582 + -2.745 = $-0.91 Mil.
Cash Flow from Operations was 0.069 + -0.988 + 0.413 + 0.683 = $0.18 Mil.
Total Receivables was $0.00 Mil.
Revenue was 15.014 + 13.962 + 12.623 + 8.392 = $49.99 Mil.
Gross Profit was 7.493 + 6.84 + 6.22 + 3.603 = $24.16 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $0.00 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.38 Mil.
Selling, General, & Admin. Expense(SGA) was $23.09 Mil.
Total Current Liabilities was $0.00 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)
=(11.895 / 46.101) / (0 / 49.991)
=0.25802 / 0
=

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)
=(24.156 / 49.991) / (24.738 / 46.101)
=0.483207 / 0.536604
=

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 - (15.727 + 0.196) / 42.208) / (1 - (0 + 0) / 0)
=0.622749 /
=

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
=46.101 / 49.991
=

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))
=(2.384 / (2.384 + 0)) / (2.393 / (2.393 + 0.196))
=1 / 0.924295
=

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)
=(20.339 / 46.101) / (23.093 / 49.991)
=0.441183 / 0.461943
=

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)
=((12.078 + 23.106) / 42.208) / ((0 + 0) / 0)
=0.833586 /
=

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
=(-2.56 - -0.905 - 0.177) / 42.208
=-0.043404

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.


NowVertical Group Beneish M-Score Related Terms

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NowVertical Group Business Description

Traded in Other Exchanges
Address
545 King Street West, Suite 4-2024, Toronto, ON, CAN, M5V 1M1
NowVertical Group Inc is a big data, analytics, and vertical intelligence company. the Company has five reportable operating segments: A10, Acrotrend, Affinio (note 23), Allegient, CoreBI and Other. Key revenue is generated from Allegient.