ProGreen US (ProGreen US) Beneish M-Score : 0.00 (As of Jun. 20, 2024)

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

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

During the past 13 years, the highest Beneish M-Score of ProGreen US was 0.00. The lowest was 0.00. And the median was 0.00.

ProGreen US Beneish M-Score Historical Data

The historical data trend for ProGreen US'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.

ProGreen US Beneish M-Score Chart

ProGreen US Annual Data

Trend

Dec08

Apr10

Apr11

Apr12

Apr13

Apr14

Apr15

Apr16

Apr17

Apr18

Beneish M-Score

Get a 7-Day Free Trial

-3.35

-2.72

-0.31

9.52

4.52

ProGreen US Quarterly Data
	Apr14	Jul14	Oct14	Jan15	Apr15	Jul15	Oct15	Jan16	Apr16	Jul16	Oct16	Jan17	Apr17	Jul17	Oct17	Jan18	Apr18	Jul18	Oct18	Jan19
Beneish M-Score	Get a 7-Day Free Trial															8.20	4.52	-	-	-

Competitive Comparison of ProGreen US's Beneish M-Score

For the Real Estate - Development subindustry, ProGreen US'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.

ProGreen US's Beneish M-Score Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, ProGreen US's Beneish M-Score distribution charts can be found below:

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

ProGreen US 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 ProGreen US 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 (Jan19) TTM:

Last Year (Jan18) TTM:

Total Receivables was $1.01 Mil.
Revenue was 0.01 + 0.051 + 0 + -0.135 = $-0.07 Mil.
Gross Profit was 0.01 + 0.051 + 0 + -0.135 = $-0.07 Mil.
Total Current Assets was $1.20 Mil.
Total Assets was $1.86 Mil.
Property, Plant and Equipment(Net PPE) was $0.16 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.82 Mil.
Total Current Liabilities was $2.26 Mil.
Long-Term Debt & Capital Lease Obligation was $2.91 Mil.
Net Income was -1.202 + -0.544 + -1.113 + -0.417 = $-3.28 Mil.
Non Operating Income was -0.063 + 0.467 + -0.317 + 0.118 = $0.21 Mil.
Cash Flow from Operations was -0.237 + -0.246 + -0.334 + -0.119 = $-0.94 Mil.

Total Receivables was $1.22 Mil.
Revenue was -0.012 + 0.016 + 0.055 + -0.062 = $-0.00 Mil.
Gross Profit was -0.012 + 0.016 + 0.055 + -0.062 = $-0.00 Mil.
Total Current Assets was $1.39 Mil.
Total Assets was $2.13 Mil.
Property, Plant and Equipment(Net PPE) was $0.74 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.03 Mil.
Selling, General, & Admin. Expense(SGA) was $0.71 Mil.
Total Current Liabilities was $1.11 Mil.
Long-Term Debt & Capital Lease Obligation was $0.82 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)
	=	(1.01 / -0.074)	/	(1.221 / -0.003)
	=		/
	=

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)
	=	(-0.003 / -0.003)	/	(-0.074 / -0.074)
	=		/
	=

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 - (1.199 + 0.164) / 1.863)	/	(1 - (1.387 + 0.743) / 2.13)
	=	0.268384	/	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
	=	-0.074	/	-0.003
	=

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))
	=	(0.025 / (0.025 + 0.743))	/	(0.002 / (0.002 + 0.164))
	=	0.032552	/	0.012048
	=

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)
	=	(0.823 / -0.074)	/	(0.709 / -0.003)
	=		/
	=

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)
	=	((2.908 + 2.257) / 1.863)	/	((0.819 + 1.11) / 2.13)
	=	2.77241	/	0.905634
	=

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
	=	(-3.276 - 0.205	-	-0.936)	/	1.863
	=	-1.366076

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.

ProGreen US Beneish M-Score Related Terms

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

ProGreen US (ProGreen US) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » ProGreen US Inc (GREY:PGUS) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

2667 Camino del Rio South, Suite 312, San Diego, CA, USA, 92108-3763

Website

http://www.progreenus.com

ProGreen US Inc is engaged in acquiring, refurbishing and upgrading income-producing residential real estate. The company acquires, refurbishes and upgrades existing properties into more environmentally sustainable, energy efficient, comfortable and healthier living spaces.