Jones Soda Co (Jones Soda Co) Beneish M-Score : 0.00 (As of Apr. 26, 2024)

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

During the past 13 years, the highest Beneish M-Score of Jones Soda Co was -1.69. The lowest was -4.28. And the median was -2.40.

Jones Soda Co Beneish M-Score Historical Data

The historical data trend for Jones Soda Co'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.

Jones Soda Co Beneish M-Score Chart

Jones Soda Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-2.03

-3.16

-1.69

-2.75

Jones Soda Co 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															-2.75	-3.13	-3.64	-3.99	-

Competitive Comparison of Jones Soda Co's Beneish M-Score

For the Beverages - Non-Alcoholic subindustry, Jones Soda Co'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.

Jones Soda Co's Beneish M-Score Distribution in the Beverages - Non-Alcoholic Industry

For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, Jones Soda Co's Beneish M-Score distribution charts can be found below:

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

Jones Soda Co 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 Jones Soda Co 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 (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $2.12 Mil.
Revenue was 3.496 + 4.497 + 4.806 + 3.87 = $16.67 Mil.
Gross Profit was 0.681 + 1.48 + 1.559 + 1.135 = $4.86 Mil.
Total Current Assets was $9.60 Mil.
Total Assets was $9.91 Mil.
Property, Plant and Equipment(Net PPE) was $0.14 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.06 Mil.
Selling, General, & Admin. Expense(SGA) was $9.73 Mil.
Total Current Liabilities was $2.36 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -1.533 + -0.934 + -1.024 + -1.363 = $-4.85 Mil.
Non Operating Income was 0.008 + -0.002 + 0.004 + -0.005 = $0.01 Mil.
Cash Flow from Operations was -1.747 + 0.414 + -1.158 + -1.328 = $-3.82 Mil.

Total Receivables was $3.17 Mil.
Revenue was 3.741 + 4.806 + 6.015 + 4.523 = $19.09 Mil.
Gross Profit was 0.928 + 1.291 + 1.687 + 1.237 = $5.14 Mil.
Total Current Assets was $14.98 Mil.
Total Assets was $15.10 Mil.
Property, Plant and Equipment(Net PPE) was $0.13 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.41 Mil.
Selling, General, & Admin. Expense(SGA) was $11.24 Mil.
Total Current Liabilities was $3.34 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)
	=	(2.118 / 16.669)	/	(3.17 / 19.085)
	=	0.127062	/	0.166099
	=

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)
	=	(5.143 / 19.085)	/	(4.855 / 16.669)
	=	0.269479	/	0.291259
	=

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 - (9.595 + 0.137) / 9.906)	/	(1 - (14.975 + 0.127) / 15.102)
	=	0.017565	/	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
	=	16.669	/	19.085
	=

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))
	=	(0.414 / (0.414 + 0.127))	/	(0.063 / (0.063 + 0.137))
	=	0.76525	/	0.315
	=

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)
	=	(9.733 / 16.669)	/	(11.236 / 19.085)
	=	0.583898	/	0.588735
	=

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 + 2.356) / 9.906)	/	((0 + 3.335) / 15.102)
	=	0.237836	/	0.220832
	=

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
	=	(-4.854 - 0.005	-	-3.819)	/	9.906
	=	-0.104987

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.

Jones Soda Co Beneish M-Score Related Terms

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Jones Soda Co (Jones Soda Co) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Beverages - Non-Alcoholic » Jones Soda Co (OTCPK:JSDA) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

4786 1st Avenue South, Suite 103, Seattle, WA, USA, 98134

Website

https://www.jonessoda.com

Jones Soda Co develops, produces, markets and distributes premium beverages which the company sells and distributes in the United States and Canada through its network of independent distributors and directly to its national and regional retail accounts. The company's products are sold in grocery stores, convenience and gas stores, restaurants, and sandwich shops among others. Geographically, the firm generates a majority of its revenue from the United States.

Executives

Gregg Reichman	director	4786 1ST AVENUE SOUTH, SUITE 103, SEATTLE WA 98134
David A. Knight	officer: CEO, President	C/O REGO PAYMENT ARCHITECTURES, INC., 18327 GRIDLEY ROAD, SUITE K, CERRITOS CA 90703
Ronald L Dissinger	director	PO BOX 3599, BATTLE CREEK MI 49016-3599
Sol Global Investments Corp.	10 percent owner	100 KING STREET WEST, SUITE 5600, TORONTO A6 M5X 1C9
Alex Spiro	director	25 TUDOR CITY PLACE APT 1011, NEW YORK NY 10017
Chad Bronstein	director	C/O JONES SODA CO., 66 S. HANFORD STREET, STE 150, SEATTLE WA 98134
Mark F. Murray	director, officer: President and CEO	C/O JONES SODA CO., 66 S. HANFORD STREET, STE 150, SEATTLE WA 98134
Robert Wesley Blair	officer: Chief Marketing Officer	C/O JONES SODA CO., 66 S. HANFORD STREET, STE 150, SEATTLE WA 98134
Mick Fleming	director	C/O JONES SODA CO., 234 9TH AVE N, SEATTLE WA 98109
Jeffrey D. Anderson	director	66 S. HANFORD ST., SUITE 150, SEATTLE WA 98134
Joe Culp	officer: Controller, PFO,PAO	C/O JONES SODA CO., 66 S. HANFORD STREET, STE 150, SEATTLE WA 98134
Paul T Norman	director	PO BOX 3599, BATTLE CREEK MI 49016-3599
Clive M Sirkin	director	ONE KELLOGG SQUARE, PO BOX 3599, BATTLE CREEK MI 49016-3599
Jamie Colbourne	director, officer: Acting Prin. Financial Officer	C/O JONES SODA CO., 66 S. HANFORD STREET, STE 150, SEATTLE WA 98134
Heavenly Rx Ltd.	10 percent owner	100 KING STREET WEST, SUITE 5600, TORONTO A6 M5X1CR