Captiva Verde Industries (TSXV:AWA.H) Beneish M-Score : 24.57 (As of May. 25, 2024)

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

What is Captiva Verde Industries 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.

Warning Sign:

Beneish M-Score 24.57 higher than -2.22, which implies that it might have manipulated its financial results.

The historical rank and industry rank for Captiva Verde Industries's Beneish M-Score or its related term are showing as below:

TSXV:AWA.H' s Beneish M-Score Range Over the Past 10 Years
Min: -14.27 Med: -2.96 Max: 638.65
Current: 24.57

During the past 13 years, the highest Beneish M-Score of Captiva Verde Industries was 638.65. The lowest was -14.27. And the median was -2.96.

Captiva Verde Industries Beneish M-Score Historical Data

The historical data trend for Captiva Verde Industries'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.

Captiva Verde Industries Beneish M-Score Chart

Captiva Verde Industries Annual Data

Trend

Sep05

Sep06

Sep07

Sep08

Sep09

Sep10

Sep11

Sep12

Sep13

Dec15

Beneish M-Score

Get a 7-Day Free Trial

-3.07

-3.90

-6.20

-14.27

212.88

Captiva Verde Industries Quarterly Data
	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16
Beneish M-Score	Get a 7-Day Free Trial															-	212.88	383.31	638.65	24.57

Competitive Comparison of Captiva Verde Industries's Beneish M-Score

For the Farm Products subindustry, Captiva Verde Industries'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.

Captiva Verde Industries's Beneish M-Score Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Captiva Verde Industries's Beneish M-Score distribution charts can be found below:

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

Captiva Verde Industries 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 Captiva Verde Industries 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 * 0.0021

0.528 * -0.0041

0.404 * 2.7059

0.892 * 62.4086

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.0701

4.679 * -5.340844

0.327 * 9.0039

24.09

This Year (Sep16) TTM:

Last Year (Sep15) TTM:

Total Receivables was C$0.07 Mil.
Revenue was 0.035 + 2.291 + 1.564 + 1.914 = C$5.80 Mil.
Gross Profit was -3.732 + -1.517 + -2.17 + -7.83 = C$-15.25 Mil.
Total Current Assets was C$0.38 Mil.
Total Assets was C$2.44 Mil.
Property, Plant and Equipment(Net PPE) was C$1.71 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.56 Mil.
Selling, General, & Admin. Expense(SGA) was C$5.50 Mil.
Total Current Liabilities was C$8.91 Mil.
Long-Term Debt & Capital Lease Obligation was C$1.78 Mil.
Net Income was -4.918 + -3.041 + -4.641 + -10.339 = C$-22.94 Mil.
Non Operating Income was -0.131 + -0.388 + -0.14 + 0.057 = C$-0.60 Mil.
Cash Flow from Operations was -1.61 + -2.473 + -1.372 + -3.845 = C$-9.30 Mil.

Total Receivables was C$0.51 Mil.
Revenue was 0.093 + 0 + 0 + 0 = C$0.09 Mil.
Gross Profit was 0.001 + 0 + 0 + 0 = C$0.00 Mil.
Total Current Assets was C$6.56 Mil.
Total Assets was C$9.80 Mil.
Property, Plant and Equipment(Net PPE) was C$2.71 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was C$1.26 Mil.
Total Current Liabilities was C$4.52 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.25 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)
	=	(0.066 / 5.804)	/	(0.509 / 0.093)
	=	0.011371	/	5.473118
	=	0.0021

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)
	=	(0.001 / 0.093)	/	(-15.249 / 5.804)
	=	0.010753	/	-2.627326
	=	-0.0041

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 - (0.381 + 1.708) / 2.441)	/	(1 - (6.563 + 2.71) / 9.795)
	=	0.144203	/	0.053292
	=	2.7059

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
	=	5.804	/	0.093
	=	62.4086

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 / (0 + 2.71))	/	(0.555 / (0.555 + 1.708))
	=	0	/	0.24525
	=	1

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)
	=	(5.496 / 5.804)	/	(1.257 / 0.093)
	=	0.946933	/	13.516129
	=	0.0701

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)
	=	((1.784 + 8.908) / 2.441)	/	((0.247 + 4.518) / 9.795)
	=	4.380172	/	0.486473
	=	9.0039

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
	=	(-22.939 - -0.602	-	-9.3)	/	2.441
	=	-5.340844

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.

Captiva Verde Industries has a M-score of 24.09 signals that the company is likely to be a manipulator.

Captiva Verde Industries Beneish M-Score Related Terms

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

Captiva Verde Industries (TSXV:AWA.H) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Captiva Verde Industries Ltd (TSXV:AWA.H) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

78080 Calle Amigo, Suite 201, La Quinta, CA, USA, 92253

Website

http://www.veg.net

Captiva Verde Industries Ltd is primarily involved in the production and sale of organic greens and other organic produce. Its product portfolio comprises baby spinach, kale, lettuce, arugula, kale, chard, and mizuna. The company has two geographic segments - Canada and the United States.

Captiva Verde Industries (TSXV:AWA.H) Headlines

No Headlines