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Heliogen (Heliogen) Beneish M-Score : 0.00 (As of Apr. 25, 2024)


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

During the past 5 years, the highest Beneish M-Score of Heliogen was -4.16. The lowest was -4.16. And the median was -4.16.


Heliogen Beneish M-Score Historical Data

The historical data trend for Heliogen'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.

Heliogen Beneish M-Score Chart

Heliogen Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
- - - -4.16 -

Heliogen Quarterly Data
Dec19 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 -4.16 -3.15 -1.67 -1.10 -

Competitive Comparison of Heliogen's Beneish M-Score

For the Utilities - Renewable subindustry, Heliogen'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.


Heliogen's Beneish M-Score Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Heliogen's Beneish M-Score distribution charts can be found below:

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



Heliogen 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 Heliogen 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 (Dec23) TTM:Last Year (Dec22) TTM:
Total Receivables was $4.68 Mil.
Revenue was -4.716 + 2.273 + 1.394 + 0.866 = $-0.18 Mil.
Gross Profit was -59.001 + 0.414 + -0.128 + -1.516 = $-60.23 Mil.
Total Current Assets was $83.47 Mil.
Total Assets was $107.03 Mil.
Property, Plant and Equipment(Net PPE) was $19.49 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.14 Mil.
Selling, General, & Admin. Expense(SGA) was $50.66 Mil.
Total Current Liabilities was $102.00 Mil.
Long-Term Debt & Capital Lease Obligation was $12.88 Mil.
Net Income was -78.801 + -18.57 + -21.683 + -10.544 = $-129.60 Mil.
Non Operating Income was -2.932 + 0.345 + 0.28 + -1.452 = $-3.76 Mil.
Cash Flow from Operations was -16.722 + -16.565 + -14.225 + -24.132 = $-71.64 Mil.
Total Receivables was $9.20 Mil.
Revenue was -2.512 + 3.1 + 2.392 + 2.044 = $5.02 Mil.
Gross Profit was -5.987 + -0.323 + -0.422 + -35.78 = $-42.51 Mil.
Total Current Assets was $158.82 Mil.
Total Assets was $191.62 Mil.
Property, Plant and Equipment(Net PPE) was $21.84 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.59 Mil.
Selling, General, & Admin. Expense(SGA) was $81.22 Mil.
Total Current Liabilities was $51.29 Mil.
Long-Term Debt & Capital Lease Obligation was $13.92 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)
=(4.679 / -0.183) / (9.195 / 5.024)
= / 1.830215
=

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)
=(-42.512 / 5.024) / (-60.231 / -0.183)
=-8.461783 /
=

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 - (83.466 + 19.486) / 107.033) / (1 - (158.821 + 21.843) / 191.619)
=0.038128 / 0.057171
=

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
=-0.183 / 5.024
=

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))
=(2.587 / (2.587 + 21.843)) / (2.142 / (2.142 + 19.486))
=0.105894 / 0.099038
=

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)
=(50.655 / -0.183) / (81.224 / 5.024)
= / 16.167197
=

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)
=((12.878 + 102.001) / 107.033) / ((13.921 + 51.289) / 191.619)
=1.073304 / 0.340311
=

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
=(-129.598 - -3.759 - -71.644) / 107.033
=-0.506339

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.


Heliogen Beneish M-Score Related Terms

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Heliogen (Heliogen) Business Description

Traded in Other Exchanges
N/A
Address
130 West Union Street, Pasadena, CA, USA, 91103
Heliogen Inc is a concentrated solar energy system that is being developed to unlock the power of sunlight to replace fossil fuels. Powered by artificial intelligence (AI), its modular system aims to deliver low-cost renewable energy in the form of heat, power, or hydrogen fuel. The company's computer vision software aligns an array of mirrors to reflect sunlight to a target on the top of a Sunlight Refinery tower.
Executives
Nant Capital, Llc 10 percent owner 9922 JEFFERSON BOULEVARD, CULVER CITY CA 90232
Barbara J Burger director 130 WEST UNION STREET, PASADENA CA 91103
Sagar Kurada officer: CFO and Head of Strategy 1323 W. SCHOOL STREET, CHICAGO IL 60657
William Gross director, officer: Chief Executive Officer C/O BILL GROSS' IDEALAB, 130 W UNION STREET, PASADENA CA 91103
Thomas P. Doyle officer: Chief Commercial Officer 130 W UNION STREET, PASADENA CA 91103
Kelly Rosser officer: Interim CFO, and CAO ONE MEMORIAL CITY PLAZA, 800 GESSNER ROAD, SUITE 875, HOUSTON TX 77024
Christiana Obiaya officer: Chief Executive Officer 130 W UNION STREET, PASADENA CA 91103
Prime Movers Lab Fund I Lp 10 percent owner P.O. BOX 12829, JACKSON WY 83002
Prime Movers Lab Fund Ii Lp 10 percent owner 6765 CRYSTAL SPRINGS RD, TETON VILLAGE WY 83025
Paul Gauche officer: Executive VP, Engineering 130 WEST UNION STREET, PASADENA CA 91103
Roger Lazarus director 100 EL CAMINO REAL, GROUND SUITE, BURLINGAME CA 94010
Andrew Alan Lambert officer: Chf. Mfg. & Sply. Chain Ofc. 130 WEST UNION STREET, PASADENA CA 91103
Neotribe Partners I, Llc 10 percent owner 3340 HILLVIEW AVENUE, PALO ALTO CA 94304
Phyllis W. Newhouse director 125 TOWNPARK DRIVE, SUITE 300, KENNESAW GA 30144
Robert M Kavner director OVERTURE SERVICES, INC., P.O. BOX 1355, CARMEL CA 93921