Falco Resources (TSXV:FPC) Beneish M-Score : 0.00 (As of May. 24, 2024)

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

During the past 13 years, the highest Beneish M-Score of Falco Resources was 0.00. The lowest was 0.00. And the median was 0.00.

Falco Resources Beneish M-Score Historical Data

The historical data trend for Falco Resources'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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Falco Resources Beneish M-Score Chart

Falco Resources Annual Data

Trend

Jun14

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Jun16

Jun17

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Jun19

Jun20

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Jun22

Jun23

Beneish M-Score

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Falco Resources Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of Falco Resources's Beneish M-Score

For the Other Industrial Metals & Mining subindustry, Falco Resources'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.

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

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

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

Falco Resources 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 Falco Resources 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 (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was C$0.44 Mil.
Revenue was 0 + 0 + 0 + 0 = C$0.00 Mil.
Gross Profit was -0.008 + -0.007 + -0.005 + -0.003 = C$-0.02 Mil.
Total Current Assets was C$3.98 Mil.
Total Assets was C$145.78 Mil.
Property, Plant and Equipment(Net PPE) was C$139.16 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.02 Mil.
Selling, General, & Admin. Expense(SGA) was C$3.62 Mil.
Total Current Liabilities was C$35.49 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.00 Mil.
Net Income was -0.74 + -0.603 + -1.507 + -0.532 = C$-3.38 Mil.
Non Operating Income was 0.1 + 0.279 + -0.291 + 0.199 = C$0.29 Mil.
Cash Flow from Operations was -0.921 + -0.476 + -0.414 + -1.074 = C$-2.89 Mil.

Total Receivables was C$0.55 Mil.
Revenue was 0 + 0 + 0 + 0 = C$0.00 Mil.
Gross Profit was -0.005 + -0.003 + -0.004 + -0.006 = C$-0.02 Mil.
Total Current Assets was C$9.45 Mil.
Total Assets was C$140.15 Mil.
Property, Plant and Equipment(Net PPE) was C$128.07 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.02 Mil.
Selling, General, & Admin. Expense(SGA) was C$4.25 Mil.
Total Current Liabilities was C$33.08 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.00 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)
	=	(0.436 / 0)	/	(0.545 / 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)
	=	(-0.018 / 0)	/	(-0.023 / 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 - (3.983 + 139.164) / 145.781)	/	(1 - (9.448 + 128.068) / 140.15)
	=	0.018068	/	0.018794
	=

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))
	=	(0.018 / (0.018 + 128.068))	/	(0.023 / (0.023 + 139.164))
	=	0.000141	/	0.000165
	=

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)
	=	(3.617 / 0)	/	(4.252 / 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)
	=	((0 + 35.491) / 145.781)	/	((0 + 33.081) / 140.15)
	=	0.243454	/	0.23604
	=

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
	=	(-3.382 - 0.287	-	-2.885)	/	145.781
	=	-0.005378

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.

Falco Resources Beneish M-Score Related Terms

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Falco Resources (TSXV:FPC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Falco Resources Ltd (TSXV:FPC) » Definitions » Beneish M-Score

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Traded in Other Exchanges

FPRGF:USA 8FP:Germany

Address

1100 Canadiens-de-Montreal, Suite 300, Montreal, QC, CAN, H3B 2S2

Website

https://www.falcores.com

Falco Resources Ltd is engaged in the exploration and evaluation of its mineral properties in the Rouyn-Noranda district for the base and precious metals. The company explores for base and precious metals, such as gold, silver, copper, and zinc deposits. All the company's operations and assets are all located in Canada.

Executives

Paola Farnesi

Director

Falco Resources (TSXV:FPC) Headlines

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