Element Lifestyle Retirement (TSXV:ELM) Beneish M-Score : -3.16 (As of Dec. 15, 2024)

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What is Element Lifestyle Retirement 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 -3.16 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSXV:ELM' s Beneish M-Score Range Over the Past 10 Years
Min: -6.59 Med: 0.98 Max: 111.7
Current: -3.16

During the past 13 years, the highest Beneish M-Score of Element Lifestyle Retirement was 111.70. The lowest was -6.59. And the median was 0.98.

Element Lifestyle Retirement Beneish M-Score Historical Data

The historical data trend for Element Lifestyle Retirement'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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Element Lifestyle Retirement Beneish M-Score Chart

Element Lifestyle Retirement Annual Data

Trend

Mar15

May16

May17

May18

May19

May20

May21

May22

May23

May24

Beneish M-Score

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1.84

0.98

5.04

-6.59

-3.58

Element Lifestyle Retirement Quarterly Data
	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24	May24	Aug24
Beneish M-Score	Get a 7-Day Free Trial															-1.55	-3.43	-4.05	-3.58	-3.16

Competitive Comparison of Element Lifestyle Retirement's Beneish M-Score

For the Medical Care Facilities subindustry, Element Lifestyle Retirement'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.

Element Lifestyle Retirement's Beneish M-Score Distribution in the Healthcare Providers & Services Industry

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

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

Element Lifestyle Retirement 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 Element Lifestyle Retirement 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 * 1.0951

0.528 * 1

0.404 * 1.0457

0.892 * 0.9962

0.115 * 0.9107

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.8724

4.679 * -0.151024

0.327 * 1.2613

-3.16

This Year (Aug24) TTM:

Last Year (Aug23) TTM:

Total Receivables was C$0.14 Mil.
Revenue was 0.265 + 0.263 + 0.263 + 0.259 = C$1.05 Mil.
Gross Profit was 0.265 + 0.263 + 0.263 + 0.259 = C$1.05 Mil.
Total Current Assets was C$0.16 Mil.
Total Assets was C$1.17 Mil.
Property, Plant and Equipment(Net PPE) was C$0.02 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.01 Mil.
Selling, General, & Admin. Expense(SGA) was C$0.97 Mil.
Total Current Liabilities was C$0.30 Mil.
Long-Term Debt & Capital Lease Obligation was C$2.01 Mil.
Net Income was -0.065 + -0.255 + -0.068 + -0.071 = C$-0.46 Mil.
Non Operating Income was 0.019 + 0 + 0 + 0 = C$0.02 Mil.
Cash Flow from Operations was -0.126 + 0.025 + -0.086 + -0.114 = C$-0.30 Mil.

Total Receivables was C$0.13 Mil.
Revenue was 0.256 + 0.318 + 0.23 + 0.25 = C$1.05 Mil.
Gross Profit was 0.256 + 0.318 + 0.23 + 0.25 = C$1.05 Mil.
Total Current Assets was C$0.22 Mil.
Total Assets was C$1.21 Mil.
Property, Plant and Equipment(Net PPE) was C$0.02 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.01 Mil.
Selling, General, & Admin. Expense(SGA) was C$1.12 Mil.
Total Current Liabilities was C$0.10 Mil.
Long-Term Debt & Capital Lease Obligation was C$1.79 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)
	=	(0.144 / 1.05)	/	(0.132 / 1.054)
	=	0.137143	/	0.125237
	=	1.0951

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)
	=	(1.054 / 1.054)	/	(1.05 / 1.05)
	=	1	/	1
	=	1

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 - (0.162 + 0.022) / 1.172)	/	(1 - (0.215 + 0.019) / 1.207)
	=	0.843003	/	0.806131
	=	1.0457

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
	=	1.05	/	1.054
	=	0.9962

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))
	=	(0.009 / (0.009 + 0.019))	/	(0.012 / (0.012 + 0.022))
	=	0.321429	/	0.352941
	=	0.9107

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)
	=	(0.969 / 1.05)	/	(1.115 / 1.054)
	=	0.922857	/	1.057875
	=	0.8724

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)
	=	((2.008 + 0.297) / 1.172)	/	((1.785 + 0.097) / 1.207)
	=	1.966724	/	1.559238
	=	1.2613

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
	=	(-0.459 - 0.019	-	-0.301)	/	1.172
	=	-0.151024

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.

Element Lifestyle Retirement has a M-score of -3.16 suggests that the company is unlikely to be a manipulator.

Element Lifestyle Retirement Beneish M-Score Related Terms

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Element Lifestyle Retirement Business Description

Industry

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Address

438 West King Edward Avenue, Vancouver, BC, CAN, V5Y 0M5

Website

https://www.elementlifestyleretirement.com

Element Lifestyle Retirement Inc is a Canada based company that operates retirement communities. The company provides specialized development expertise and flexible, management services for senior retirement communities. Its consulting services include property selection, assembly, and acquisition; municipal approval and land entitlement processes; financing; marketing, sales, and leasing, and construction project management.

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