5N Plus (5N Plus) Beneish M-Score : -2.68 (As of Apr. 26, 2024)

View and export this data going back to 2008. Start your Free Trial

What is 5N Plus 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.

Good Sign:

Beneish M-Score -2.68 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for 5N Plus's Beneish M-Score or its related term are showing as below:

FPLSF' s Beneish M-Score Range Over the Past 10 Years
Min: -7.49 Med: -2.63 Max: -1.77
Current: -2.68

During the past 13 years, the highest Beneish M-Score of 5N Plus was -1.77. The lowest was -7.49. And the median was -2.63.

5N Plus Beneish M-Score Historical Data

The historical data trend for 5N Plus'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.

5N Plus Beneish M-Score Chart

5N Plus Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

Get a 7-Day Free Trial

-2.15

-3.26

-1.77

-3.25

-2.68

5N Plus Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial															-3.25	-3.21	-3.30	-2.89	-2.68

Competitive Comparison of 5N Plus's Beneish M-Score

For the Specialty Chemicals subindustry, 5N Plus'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.

5N Plus's Beneish M-Score Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, 5N Plus's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where 5N Plus's Beneish M-Score falls into.

5N Plus 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 5N Plus 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 * 0.9978

0.528 * 0.7733

0.404 * 1.023

0.892 * 0.9173

0.115 * 1.1361

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1224

4.679 * -0.005677

0.327 * 0.9071

-2.67

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $35.1 Mil.
Revenue was 65.063 + 62.946 + 59.075 + 55.287 = $242.4 Mil.
Gross Profit was 15.386 + 12.557 + 16.31 + 13.285 = $57.5 Mil.
Total Current Assets was $182.0 Mil.
Total Assets was $350.2 Mil.
Property, Plant and Equipment(Net PPE) was $113.9 Mil.
Depreciation, Depletion and Amortization(DDA) was $16.4 Mil.
Selling, General, & Admin. Expense(SGA) was $29.4 Mil.
Total Current Liabilities was $81.8 Mil.
Long-Term Debt & Capital Lease Obligation was $111.8 Mil.
Net Income was 2.284 + 1.518 + 10.143 + 1.454 = $15.4 Mil.
Non Operating Income was -0.361 + 0.238 + 0.274 + -0.015 = $0.1 Mil.
Cash Flow from Operations was 11.774 + -2.129 + 11.378 + -3.772 = $17.3 Mil.

Total Receivables was $38.4 Mil.
Revenue was 61.042 + 66.372 + 72.388 + 64.421 = $264.2 Mil.
Gross Profit was 13.133 + 12.962 + 12.241 + 10.172 = $48.5 Mil.
Total Current Assets was $187.2 Mil.
Total Assets was $348.0 Mil.
Property, Plant and Equipment(Net PPE) was $108.0 Mil.
Depreciation, Depletion and Amortization(DDA) was $18.0 Mil.
Selling, General, & Admin. Expense(SGA) was $28.6 Mil.
Total Current Liabilities was $62.8 Mil.
Long-Term Debt & Capital Lease Obligation was $149.3 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)
	=	(35.109 / 242.371)	/	(38.36 / 264.223)
	=	0.144856	/	0.14518
	=	0.9978

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)
	=	(48.508 / 264.223)	/	(57.538 / 242.371)
	=	0.183587	/	0.237396
	=	0.7733

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 - (181.963 + 113.89) / 350.202)	/	(1 - (187.162 + 108.033) / 347.985)
	=	0.155193	/	0.151702
	=	1.023

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
	=	242.371	/	264.223
	=	0.9173

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))
	=	(17.992 / (17.992 + 108.033))	/	(16.368 / (16.368 + 113.89))
	=	0.142765	/	0.125658
	=	1.1361

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)
	=	(29.41 / 242.371)	/	(28.565 / 264.223)
	=	0.121343	/	0.108109
	=	1.1224

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)
	=	((111.828 + 81.807) / 350.202)	/	((149.266 + 62.846) / 347.985)
	=	0.552924	/	0.609544
	=	0.9071

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
	=	(15.399 - 0.136	-	17.251)	/	350.202
	=	-0.005677

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.

5N Plus has a M-score of -2.67 suggests that the company is unlikely to be a manipulator.

5N Plus Beneish M-Score Related Terms

Thank you for viewing the detailed overview of 5N Plus's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

5N Plus (5N Plus) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » 5N Plus Inc (OTCPK:FPLSF) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

VNP:Canada

Address

4385 Garand Street, Saint-Laurent, Montreal, QC, CAN, H4R 2B4

Website

https://www.5nplus.com

5N Plus Inc is a Canadian-based company producing specialty semiconductors and performance materials. The company operates in two segments Specialty Semiconductors and Performance Materials. The Specialty Semiconductors segment manufactures and sells products used in several applications such as renewable energy, space satellites and imaging. The Performance Materials segment manufactures and sells products that are used in several applications in pharmaceutical & healthcare, industrial, and catalytic and extractive. Main products are sold as active pharmaceutical ingredients, animal feed additives, specialized chemicals, commercial-grade metals, alloys, and engineered powders. The maximum revenue is derived from the Performance Materials segment.