Carebook Technologies (TSXV:CRBK) Beneish M-Score : -4.08 (As of Jun. 17, 2024)

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What is Carebook Technologies 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 -4.08 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSXV:CRBK' s Beneish M-Score Range Over the Past 10 Years
Min: -4.64 Med: -3.24 Max: -2.19
Current: -4.08

During the past 4 years, the highest Beneish M-Score of Carebook Technologies was -2.19. The lowest was -4.64. And the median was -3.24.

Carebook Technologies Beneish M-Score Historical Data

The historical data trend for Carebook Technologies'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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Carebook Technologies Beneish M-Score Chart

Carebook Technologies Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

-4.64

-3.79

Carebook Technologies Quarterly Data
	Jun19	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial												-2.19	-3.24	-2.52	-3.79	-4.08

Competitive Comparison of Carebook Technologies's Beneish M-Score

For the Health Information Services subindustry, Carebook Technologies'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.

Carebook Technologies's Beneish M-Score Distribution in the Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Carebook Technologies's Beneish M-Score distribution charts can be found below:

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

Carebook Technologies 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 Carebook Technologies 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 * 0.8292

0.528 * 1.0062

0.404 * 0.9652

0.892 * 1.4218

0.115 * 0.7632

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.8707

4.679 * -0.374217

0.327 * 1.1689

-4.08

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was C$2.95 Mil.
Revenue was 3.593 + 3.553 + 3.483 + 2.7 = C$13.33 Mil.
Gross Profit was 2.914 + 2.99 + 2.93 + 2 = C$10.83 Mil.
Total Current Assets was C$3.58 Mil.
Total Assets was C$8.94 Mil.
Property, Plant and Equipment(Net PPE) was C$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was C$1.54 Mil.
Selling, General, & Admin. Expense(SGA) was C$5.86 Mil.
Total Current Liabilities was C$8.03 Mil.
Long-Term Debt & Capital Lease Obligation was C$6.57 Mil.
Net Income was -0.349 + -1.775 + -0.39 + -0.687 = C$-3.20 Mil.
Non Operating Income was 0.006 + -0.004 + 0.004 + 0.019 = C$0.03 Mil.
Cash Flow from Operations was -0.183 + 0.566 + 0.214 + -0.479 = C$0.12 Mil.

Total Receivables was C$2.50 Mil.
Revenue was 2.518 + 2.456 + 2.066 + 2.335 = C$9.38 Mil.
Gross Profit was 2.263 + 1.584 + 1.815 + 2.005 = C$7.67 Mil.
Total Current Assets was C$3.30 Mil.
Total Assets was C$10.36 Mil.
Property, Plant and Equipment(Net PPE) was C$0.63 Mil.
Depreciation, Depletion and Amortization(DDA) was C$2.02 Mil.
Selling, General, & Admin. Expense(SGA) was C$4.73 Mil.
Total Current Liabilities was C$10.24 Mil.
Long-Term Debt & Capital Lease Obligation was C$4.24 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)
	=	(2.945 / 13.329)	/	(2.498 / 9.375)
	=	0.220947	/	0.266453
	=	0.8292

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)
	=	(7.667 / 9.375)	/	(10.834 / 13.329)
	=	0.817813	/	0.812814
	=	1.0062

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 - (3.579 + 0) / 8.936)	/	(1 - (3.3 + 0.626) / 10.362)
	=	0.599485	/	0.621116
	=	0.9652

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
	=	13.329	/	9.375
	=	1.4218

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))
	=	(2.018 / (2.018 + 0.626))	/	(1.544 / (1.544 + 0))
	=	0.763238	/	1
	=	0.7632

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)
	=	(5.858 / 13.329)	/	(4.732 / 9.375)
	=	0.439493	/	0.504747
	=	0.8707

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)
	=	((6.573 + 8.025) / 8.936)	/	((4.243 + 10.239) / 10.362)
	=	1.633617	/	1.397607
	=	1.1689

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
	=	(-3.201 - 0.025	-	0.118)	/	8.936
	=	-0.374217

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.

Carebook Technologies has a M-score of -4.08 suggests that the company is unlikely to be a manipulator.

Carebook Technologies Beneish M-Score Related Terms

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Carebook Technologies (TSXV:CRBK) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Healthcare Providers & Services » Carebook Technologies Inc (TSXV:CRBK) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

2045 Stanley Street, Suite 1400, Montreal, QC, CAN, H3A 2V4

Website

https://www.carebook.com

Carebook Technologies Inc is engaged in the development and commercialization of a complete end-to-end digital health platform that features assessment, reporting, and targeted solutions offered through an array of selected partners and resellers, and its primary customers are large employers across a variety of industries and pharmacies. Its products include Corehealth, Pharmacy and Wellness Checkpoint.

Executives

L.p. Medtech Investments	10% Security Holder
Stuart Mitchell Elman	Director

Carebook Technologies (TSXV:CRBK) Headlines

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