Turnium Technology Group (TSXV:TTGI) Beneish M-Score : -2.86 (As of Apr. 01, 2025)

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What is Turnium Technology Group 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 -2.86 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSXV:TTGI' s Beneish M-Score Range Over the Past 10 Years
Min: -8.35 Med: -4.29 Max: -2.51
Current: -2.86

During the past 5 years, the highest Beneish M-Score of Turnium Technology Group was -2.51. The lowest was -8.35. And the median was -4.29.

Turnium Technology Group Beneish M-Score Historical Data

The historical data trend for Turnium Technology Group'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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Turnium Technology Group Beneish M-Score Chart

Turnium Technology Group Annual Data

Trend

Sep20

Sep21

Sep22

Sep23

Sep24

Beneish M-Score

-5.57

-2.51

Turnium Technology Group Quarterly Data
	Sep20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24
Beneish M-Score	Get a 7-Day Free Trial												-5.45	-2.97	-3.12	-2.51	-2.86

Competitive Comparison of Turnium Technology Group's Beneish M-Score

For the Software - Infrastructure subindustry, Turnium Technology Group'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.

Turnium Technology Group's Beneish M-Score Distribution in the Software Industry

For the Software industry and Technology sector, Turnium Technology Group's Beneish M-Score distribution charts can be found below:

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

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Turnium Technology Group 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 Turnium Technology Group 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 * 1.0199

0.528 * 1.0417

0.404 * 1.7279

0.892 * 1.2003

0.115 * 0.6338

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.8595

4.679 * -0.206046

0.327 * 0.7204

-2.86

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was C$0.49 Mil.
Revenue was 1.974 + 1.546 + 1.357 + 1.368 = C$6.25 Mil.
Gross Profit was 1.344 + 0.926 + 0.85 + 0.99 = C$4.11 Mil.
Total Current Assets was C$0.70 Mil.
Total Assets was C$11.11 Mil.
Property, Plant and Equipment(Net PPE) was C$0.42 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.38 Mil.
Selling, General, & Admin. Expense(SGA) was C$6.17 Mil.
Total Current Liabilities was C$9.85 Mil.
Long-Term Debt & Capital Lease Obligation was C$2.80 Mil.
Net Income was -1.87 + -1.576 + -0.379 + -0.403 = C$-4.23 Mil.
Non Operating Income was -0.01 + 0.02 + 0.179 + 0.019 = C$0.21 Mil.
Cash Flow from Operations was -0.846 + -0.694 + -0.271 + -0.335 = C$-2.15 Mil.

Total Receivables was C$0.40 Mil.
Revenue was 1.284 + 1.258 + 1.476 + 1.185 = C$5.20 Mil.
Gross Profit was 0.89 + 0.873 + 0.917 + 0.887 = C$3.57 Mil.
Total Current Assets was C$0.74 Mil.
Total Assets was C$2.64 Mil.
Property, Plant and Equipment(Net PPE) was C$0.53 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.23 Mil.
Selling, General, & Admin. Expense(SGA) was C$5.98 Mil.
Total Current Liabilities was C$3.11 Mil.
Long-Term Debt & Capital Lease Obligation was C$1.07 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)
	=	(0.486 / 6.245)	/	(0.397 / 5.203)
	=	0.077822	/	0.076302
	=	1.0199

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)
	=	(3.567 / 5.203)	/	(4.11 / 6.245)
	=	0.685566	/	0.658127
	=	1.0417

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 - (0.696 + 0.424) / 11.114)	/	(1 - (0.738 + 0.53) / 2.644)
	=	0.899226	/	0.520424
	=	1.7279

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
	=	6.245	/	5.203
	=	1.2003

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))
	=	(0.228 / (0.228 + 0.53))	/	(0.383 / (0.383 + 0.424))
	=	0.300792	/	0.474597
	=	0.6338

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)
	=	(6.167 / 6.245)	/	(5.978 / 5.203)
	=	0.98751	/	1.148953
	=	0.8595

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)
	=	((2.801 + 9.85) / 11.114)	/	((1.071 + 3.107) / 2.644)
	=	1.138294	/	1.580182
	=	0.7204

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
	=	(-4.228 - 0.208	-	-2.146)	/	11.114
	=	-0.206046

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.

Turnium Technology Group has a M-score of -2.86 suggests that the company is unlikely to be a manipulator.

Turnium Technology Group Beneish M-Score Related Terms

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Turnium Technology Group Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Turnium Technology Group Inc (TSXV:TTGI) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

E48:Germany

Address

3355 Grandview Highway, Vancouver, BC, CAN, V5M 1Z5

Website

https://www.turnium.com

Turnium Technology Group Inc invests in companies that are creating software-defined networks for service providers, enterprises, and small-medium business. The company deliver its software-defined wide area networking solution as a white label, containerized, disaggregated software platform that channel partners host, manage, brand, and price and as a managed cloud-native service. The Company's operations consist of two operating and reportable segments being Tenacious Networks Inc and Turnium Network Solutions Inc.

Executives

Johan Arnet	10% Security Holder, Director, Director or Senior Officer of 10% Security Holder
Ralph Garcea	Director

Turnium Technology Group Headlines

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