SYTE has been successfully added to your Stock Email Alerts list.
You can manage your stock email alerts here.
SYTE has been removed from your Stock Email Alerts list.
Please enter Portfolio Name for new portfolio.
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 Enterprise Diversified's Beneish M-Score or its related term are showing as below:
During the past 13 years, the highest Beneish M-Score of Enterprise Diversified was 0.00. The lowest was 0.00. And the median was 0.00.
The historical data trend for Enterprise Diversified'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.
Enterprise Diversified Annual Data | |||||||||||||||||||||
Trend | Dec12 | Dec13 | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | |||||||||||
Beneish M-Score | Get a 7-Day Free Trial | -0.59 | -5.11 | -2.22 | 0.13 | 20.29 |
Enterprise Diversified Quarterly Data | ||||||||||||||||||||
Jun17 | Sep17 | Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | |
Beneish M-Score | Get a 7-Day Free Trial | 6.83 | 5.60 | 38.22 | 20.29 | 30.36 |
For the Asset Management subindustry, Enterprise Diversified'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.
For the Asset Management industry and Financial Services sector, Enterprise Diversified's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Enterprise Diversified's Beneish M-Score falls into.
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 Enterprise Diversified 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 * 38.8625 | + | 0.528 * 1.0936 | + | 0.404 * 0.019 | + | 0.892 * 0.4143 | + | 0.115 * 0.8333 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 5.7421 | + | 4.679 * -0.017583 | - | 0.327 * 1.6319 | |||||||
= | 30.36 |
* 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 (Mar22) TTM: | Last Year (Mar21) TTM: |
Total Receivables was $2.09 Mil. Revenue was 0.257 + 0.325 + 1.026 + 2.116 = $3.72 Mil. Gross Profit was 0.185 + 0.254 + 0.964 + 1.809 = $3.21 Mil. Total Current Assets was $17.13 Mil. Total Assets was $17.46 Mil. Property, Plant and Equipment(Net PPE) was $0.01 Mil. Depreciation, Depletion and Amortization(DDA) was $0.02 Mil. Selling, General, & Admin. Expense(SGA) was $3.24 Mil. Total Current Liabilities was $1.09 Mil. Long-Term Debt & Capital Lease Obligation was $0.00 Mil. Net Income was -0.733 + -1.286 + -0.023 + 2.152 = $0.11 Mil. Non Operating Income was 0.066 + -0.17 + 0.034 + 0.768 = $0.70 Mil. Cash Flow from Operations was 1.463 + -1.384 + -0.054 + -0.306 = $-0.28 Mil. |
Total Receivables was $0.13 Mil. Revenue was 2.436 + 3.156 + 1.866 + 1.531 = $8.99 Mil. Gross Profit was 2.356 + 2.911 + 1.768 + 1.444 = $8.48 Mil. Total Current Assets was $0.46 Mil. Total Assets was $16.91 Mil. Property, Plant and Equipment(Net PPE) was $0.01 Mil. Depreciation, Depletion and Amortization(DDA) was $0.02 Mil. Selling, General, & Admin. Expense(SGA) was $1.36 Mil. Total Current Liabilities was $0.40 Mil. Long-Term Debt & Capital Lease Obligation was $0.24 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) |
= | (2.093 / 3.724) | / | (0.13 / 8.989) | |
= | 0.56203 | / | 0.014462 | |
= | 38.8625 |
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) | |
= | (8.479 / 8.989) | / | (3.212 / 3.724) | |
= | 0.943264 | / | 0.862513 | |
= | 1.0936 |
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 - (17.129 + 0.009) / 17.46) | / | (1 - (0.463 + 0.013) / 16.907) | |
= | 0.018442 | / | 0.971846 | |
= | 0.019 |
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 | |
= | 3.724 | / | 8.989 | |
= | 0.4143 |
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)) |
= | (0.02 / (0.02 + 0.013)) | / | (0.024 / (0.024 + 0.009)) | |
= | 0.606061 | / | 0.727273 | |
= | 0.8333 |
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) |
= | (3.24 / 3.724) | / | (1.362 / 8.989) | |
= | 0.870032 | / | 0.151519 | |
= | 5.7421 |
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 + 1.087) / 17.46) | / | ((0.242 + 0.403) / 16.907) | |
= | 0.062257 | / | 0.03815 | |
= | 1.6319 |
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 | |
= | (0.11 - 0.698 | - | -0.281) | / | 17.46 | |
= | -0.017583 |
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.
Enterprise Diversified has a M-score of 30.36 signals that the company is likely to be a manipulator.
Thank you for viewing the detailed overview of Enterprise Diversified's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Thomas Ricks Braziel | director | 32 EAST 64TH STREET, 3NE NEW YORK NY 10065 |
Steven L Kiel | director, 10 percent owner, officer: Executive Chairman | 15 EAST 67TH STREET, 6TH FLOOR, NEW YORK NY 10065 |
Jeffrey Moore | director | 1904 DEAUVILLE DR LEXINGTON KY 40504 |
Alea Ann Kleinhammer | officer: Chief Financial Officer | 1706 CARTER STREET, RICHMOND VA 23220 |
G Michael Bridge | officer: Chief Executive Officer | 14400 N 87TH ST, SCOTTSDALE AZ 85260 |
Christopher Todd Payne | director | 97 ELMORE ROAD ROCHESTER NY 14618 |
Jeremy Kenneth Deal | director | 227 RAINBOW DRIVE LIVINGSTON TX 77399 |
Gold Jeremy | director | 22287 MULHOLLAND HIGHWAY, SUITE 180 CALABASAS CA 91302 |
Keith Douglas Smith | director | 16 PERRIWINKLE WAY WEBSTER NY 14580 |
Arquitos Capital Partners, Lp | director, officer: Chief Executive Officer | 15 E. 67TH STREET NEW YORK NY 10065 |
Alesia Value Fund Llc | other: Managing Member | 22287 MULHOLLAND HWY STE 180 CALABASAS CA 91302 |
Jonathan Dash | 10 percent owner | 9701 WILSHIRE BLVD. #1110 BEVERLY HILLS CA 90212 |
Dash Acquisitions Llc | 10 percent owner | 9701 WILSHIRE BOULEVARD SUITE 1110 BEVERLY HILLS CA 90212 |
Erhartic Frank R Jr | director, 10 percent owner, officer: President, Chief Exec. Officer | 7109 TIMBERLAKE RD LYNCHBURG VA 24502 |
Daniel Allen Judd | officer: Chief Financial Officer | 7109 TIMBERLAKE ROAD LYNCHBURG VA 24502 |
From GuruFocus
By [email protected] [email protected] • 09-18-2019
By PRNewswire PRNewswire • 05-11-2019
By [email protected] [email protected] • 03-31-2020
By [email protected] [email protected] • 08-12-2019
By ACCESSWIRE ACCESSWIRE • 12-30-2021
By Graham Griffin • 06-16-2021
By PRNewswire PRNewswire • 02-21-2019
By PRNewswire PRNewswire • 05-29-2019
By GuruFocusNews GuruFocusNews • 01-18-2022
By Cody Eustice Cody Eustice • 10-30-2015
Disclaimers: GuruFocus.com is not operated by a broker or a dealer. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. This investment adviser does not provide advice to individual investors. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.