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Silver X Mining (STU:AGX) Beneish M-Score : -2.59 (As of Dec. 11, 2024)


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What is Silver X Mining 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 -2.59 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Silver X Mining's Beneish M-Score or its related term are showing as below:

STU:AGX' s Beneish M-Score Range Over the Past 10 Years
Min: -5.84   Med: -3.71   Max: -2.59
Current: -2.59

During the past 4 years, the highest Beneish M-Score of Silver X Mining was -2.59. The lowest was -5.84. And the median was -3.71.


Silver X Mining Beneish M-Score Historical Data

The historical data trend for Silver X Mining'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.

Silver X Mining Beneish M-Score Chart

Silver X Mining Annual Data
Trend Feb20 Feb21 Dec22 Dec23
Beneish M-Score
- - - -3.71

Silver X Mining Quarterly Data
May20 Aug20 Feb21 May21 Sep21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.86 -3.71 -3.99 -3.87 -2.59

Competitive Comparison of Silver X Mining's Beneish M-Score

For the Other Industrial Metals & Mining subindustry, Silver X Mining'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.


Silver X Mining's Beneish M-Score Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Silver X Mining's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Silver X Mining's Beneish M-Score falls into.



Silver X Mining 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 Silver X Mining 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 * 0.9726+0.528 * 2.1133+0.404 * 0.033+0.892 * 1.3159+0.115 * 2.9721
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8565+4.679 * -0.164922-0.327 * 1.3105
=-2.65

* 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 (Sep24) TTM:Last Year (Sep23) TTM:
Total Receivables was €3.76 Mil.
Revenue was 4.494 + 5.799 + 4.397 + 3.987 = €18.68 Mil.
Gross Profit was -0.66 + 0.508 + 0.006 + -0.902 = €-1.05 Mil.
Total Current Assets was €6.91 Mil.
Total Assets was €48.62 Mil.
Property, Plant and Equipment(Net PPE) was €40.52 Mil.
Depreciation, Depletion and Amortization(DDA) was €1.86 Mil.
Selling, General, & Admin. Expense(SGA) was €3.21 Mil.
Total Current Liabilities was €19.80 Mil.
Long-Term Debt & Capital Lease Obligation was €0.05 Mil.
Net Income was -1.939 + -0.152 + -0.553 + -7.518 = €-10.16 Mil.
Non Operating Income was -0.151 + 0.843 + -0.057 + -3.626 = €-2.99 Mil.
Cash Flow from Operations was 0 + 0 + 1.025 + -0.177 = €0.85 Mil.
Total Receivables was €2.94 Mil.
Revenue was 1.958 + 4.295 + 4.274 + 3.666 = €14.19 Mil.
Gross Profit was -0.76 + -0.364 + -0.384 + -0.175 = €-1.68 Mil.
Total Current Assets was €5.87 Mil.
Total Assets was €64.35 Mil.
Property, Plant and Equipment(Net PPE) was €11.02 Mil.
Depreciation, Depletion and Amortization(DDA) was €1.65 Mil.
Selling, General, & Admin. Expense(SGA) was €2.85 Mil.
Total Current Liabilities was €19.93 Mil.
Long-Term Debt & Capital Lease Obligation was €0.12 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)
=(3.759 / 18.677) / (2.937 / 14.193)
=0.201264 / 0.206933
=0.9726

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)
=(-1.683 / 14.193) / (-1.048 / 18.677)
=-0.11858 / -0.056112
=2.1133

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 - (6.914 + 40.524) / 48.623) / (1 - (5.867 + 11.02) / 64.345)
=0.024371 / 0.737555
=0.033

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
=18.677 / 14.193
=1.3159

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))
=(1.65 / (1.65 + 11.02)) / (1.857 / (1.857 + 40.524))
=0.130229 / 0.043817
=2.9721

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)
=(3.209 / 18.677) / (2.847 / 14.193)
=0.171816 / 0.200592
=0.8565

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)
=((0.051 + 19.801) / 48.623) / ((0.116 + 19.931) / 64.345)
=0.408284 / 0.311555
=1.3105

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
=(-10.162 - -2.991 - 0.848) / 48.623
=-0.164922

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.

Silver X Mining has a M-score of -2.65 suggests that the company is unlikely to be a manipulator.


Silver X Mining Beneish M-Score Related Terms

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Silver X Mining Business Description

Traded in Other Exchanges
Address
800 West Pender Street, Suite 1430, Vancouver, BC, CAN, V6C 2V6
Silver X Mining Corp is a Canadian silver mining company with assets in Peru and Ecuador. The Company operates in two reportable operating segments, the exploration and development of mineral properties. The company's flagship asset is the Nueva Recuperada silver lead zinc project located in Huancavelica, Peru. The firm offers diverse commodity exposure, including silver, gold, lead, and zinc opportunities. It also holds interest in the Coriorcco gold project.

Silver X Mining Headlines