TAOFF (IperionX) Beneish M-Score : 0.00 (As of Dec. 11, 2024)

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

During the past 7 years, the highest Beneish M-Score of IperionX was 0.00. The lowest was 0.00. And the median was 0.00.

IperionX Beneish M-Score Historical Data

The historical data trend for IperionX'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.

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IperionX Beneish M-Score Chart

IperionX Annual Data

Trend

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

Beneish M-Score

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IperionX Quarterly Data
	Jun19	Jun20	Jun21	Dec21	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial									-	-	-	-	-

Competitive Comparison of IperionX's Beneish M-Score

For the Other Industrial Metals & Mining subindustry, IperionX'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.

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

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

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

IperionX 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 IperionX 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 (Jun24) TTM:

Last Year (Jun23) TTM:

Total Receivables was $2.30 Mil.
Revenue was $0.00 Mil.
Gross Profit was $0.00 Mil.
Total Current Assets was $41.55 Mil.
Total Assets was $55.44 Mil.
Property, Plant and Equipment(Net PPE) was $13.89 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.65 Mil.
Selling, General, & Admin. Expense(SGA) was $8.31 Mil.
Total Current Liabilities was $3.05 Mil.
Long-Term Debt & Capital Lease Obligation was $1.05 Mil.
Net Income was $-21.84 Mil.
Gross Profit was $0.37 Mil.
Cash Flow from Operations was $-18.61 Mil.

Total Receivables was $0.23 Mil.
Revenue was $0.00 Mil.
Gross Profit was $0.00 Mil.
Total Current Assets was $12.76 Mil.
Total Assets was $22.80 Mil.
Property, Plant and Equipment(Net PPE) was $7.05 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.43 Mil.
Selling, General, & Admin. Expense(SGA) was $6.58 Mil.
Total Current Liabilities was $1.65 Mil.
Long-Term Debt & Capital Lease Obligation was $0.59 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)
	=	(2.302 / 0)	/	(0.228 / 0)
	=		/
	=

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 / 0)	/	(0 / 0)
	=		/
	=

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 - (41.548 + 13.888) / 55.436)	/	(1 - (12.755 + 7.049) / 22.804)
	=	0	/	0.131556
	=

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	/	0
	=

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))
	=	(0.427 / (0.427 + 7.049))	/	(0.646 / (0.646 + 13.888))
	=	0.057116	/	0.044448
	=

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)
	=	(8.308 / 0)	/	(6.58 / 0)
	=		/
	=

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)
	=	((1.045 + 3.051) / 55.436)	/	((0.593 + 1.648) / 22.804)
	=	0.073887	/	0.098272
	=

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
	=	(-21.844 - 0.366	-	-18.607)	/	55.436
	=	-0.064994

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.

IperionX Beneish M-Score Related Terms

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IperionX Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » IperionX Ltd (OTCPK:TAOFF) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

IPX:USA 30Z:Germany IPX:Australia

Address

129 West Trade Street, Suite 1405, Charlotte, NC, USA, 28202

Website

https://www.iperionx.com

IperionX Ltd produces titanium critical minerals, titanium powders, and titanium end products for various industries. The company's breakthrough titanium technologies have demonstrated the potential to produce titanium products that are sustainable, recyclable, and have low carbon intensity. IperionX is producing titanium metal powders from titanium scrap at its operational pilot facility in Utah, It also owns a titan critical minerals project, the Titan Project, covering over 11,000 acres of critical minerals that include titanium, rare earth elements, silica sand, and zircon in Tennessee, United States.