GURUFOCUS.COM » STOCK LIST » USA » NYSE » Virtus Convertible & Income Fund II (NYSE:NCZ) » Definitions » Beneish M-Score
Switch to:

Virtus Convertible &ome Fund II Beneish M-Score

: 0.00 (As of Today)
View and export this data going back to . 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.

The historical rank and industry rank for Virtus Convertible &ome Fund II's Beneish M-Score or its related term are showing as below:

During the past 4 years, the highest Beneish M-Score of Virtus Convertible &ome Fund II was 0.00. The lowest was 0.00. And the median was 0.00.


Virtus Convertible &ome Fund II Beneish M-Score Historical Data

The historical data trend for Virtus Convertible &ome Fund II'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.

Virtus Convertible &ome Fund II Annual Data
Trend Feb18 Feb19 Feb20 Feb21
Beneish M-Score
- - - -

Virtus Convertible &ome Fund II Semi-Annual Data
Aug17 Feb18 Aug18 Feb19 Aug19 Feb20 Aug20 Feb21 Aug21
Beneish M-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - - - -

Competitive Comparison

For the Asset Management subindustry, Virtus Convertible &ome Fund II'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.

   

Virtus Convertible &ome Fund II Beneish M-Score Distribution

For the Asset Management industry and Financial Services sector, Virtus Convertible &ome Fund II's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Virtus Convertible &ome Fund II's Beneish M-Score falls into.



Virtus Convertible &ome Fund II 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 Virtus Convertible &ome Fund II 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 (Feb21) TTM:Last Year (Feb20) TTM:
Total Receivables was $ Mil.
Revenue was $ Mil.
Gross Profit was $ Mil.
Total Current Assets was $ Mil.
Total Assets was $ Mil.
Property, Plant and Equipment(Net PPE) was $ Mil.
Depreciation, Depletion and Amortization(DDA) was $ Mil.
Selling, General, & Admin. Expense(SGA) was $ Mil.
Total Current Liabilities was $ Mil.
Long-Term Debt & Capital Lease Obligation was $ Mil.
Net Income was $ Mil.
Gross Profit was $ Mil.
Cash Flow from Operations was $ Mil.
Total Receivables was $ Mil.
Revenue was $ Mil.
Gross Profit was $ Mil.
Total Current Assets was $ Mil.
Total Assets was $ Mil.
Property, Plant and Equipment(Net PPE) was $ Mil.
Depreciation, Depletion and Amortization(DDA) was $ Mil.
Selling, General, & Admin. Expense(SGA) was $ Mil.
Total Current Liabilities was $ Mil.
Long-Term Debt & Capital Lease Obligation was $ 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)
=( / ) / ( / 35.485)
= /
=

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)
=( / 35.485) / ( / )
= /
=

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 - ( + 0) / ) / (1 - ( + 0) / )
= /
=

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
= / 35.485
=

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 / (0 + 0)) / (0 / (0 + 0))
= /
=

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)
=( / ) / ( / 35.485)
= /
=

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)
=(( + ) / ) / (( + ) / )
= /
=

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
=( - - ) /
=

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.


Virtus Convertible &ome Fund II Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Virtus Convertible &ome Fund II's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Virtus Convertible &ome Fund II Business Description

Virtus Convertible &ome Fund II logo
Traded in Other Exchanges
Address
101 Munson Street, Greenfield, MA, USA, 01301
Virtus AllianzGI Convertible & Income Fund II is a diversified, closed-end management investment company. Its investment objective is to provide total return through a combination of capital appreciation and high current income. Its portfolio of investments includes different sector investments such as in the healthcare services, media, oil, gas and consumable fuels and others.
Executives
Decotis Deborah A director 1633 BROADWAY NEW YORK NY 10019
Yee Michael officer: Portfolio Manager C/O ALLIANZ EQUITY ADVISORS 1345 AVE OF THE AMERICAS NEW YORK NY 10105
Oberto David J. officer: Portfolio Manager 1633 BROADWAY NEW YORK NY 10019
Zino Brian T director 100 PARK AVENUE NEW YORK NY 10017
Macleod James S director 250 E KILBOURN AVE MILWAUKEE WI 53202
Smirl Richard W officer: EVP C/O VIRTUS INVESTMENT PARTNERS, INC. ONE FINANCIAL PLAZA HARTFORD CT 06103
Drummond F Ford director 100 N BROADWAY OKLAHOMA CITY OK 73102
Rappaport Alan director C/O PIMCO 650 NEWPORT CENTER DRIVE NEWPORT BEACH CA 92660
Waltman Francis G officer: EVP C/O VIRTUS INVESTMENT PARTNERS, INC. 100 PEARL STREET HARTFORD CT 06103
Aylward George R director, officer: President and CEO C/O VIRTUS INVESTMENT PARTNERS, INC. 100 PEARL STREET HARTFORD CT 06103
Bradley William Patrick Iii officer: EVP, CFO and Treasurer C/O VIRTUS INVESTMENT PARTNERS, INC. 56 PROSPECT STREET HARTFORD CT 06115
Mcloughlin Philip R director 800 SCUDDERS HILL ROAD PLAINSBORO NJ 08536
Pushpaharan Gem other: Affiliated Person 1633 BROADWAY NEW YORK NY 10019
Viggiano John other: Affiliated Person 1633 BROADWAY NEW YORK NY 10019
Ubs Group Ag 10 percent owner BAHNHOFSTRASSE 45 ZURICH V8 CH-8001

Virtus Convertible &ome Fund II Headlines

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)