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VentriPoint Diagnostics (TSXV:VPT) Beneish M-Score : 0.00 (As of Dec. 14, 2024)


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

During the past 13 years, the highest Beneish M-Score of VentriPoint Diagnostics was 30.31. The lowest was -20.64. And the median was -7.79.


VentriPoint Diagnostics Beneish M-Score Historical Data

The historical data trend for VentriPoint Diagnostics'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.

VentriPoint Diagnostics Beneish M-Score Chart

VentriPoint Diagnostics Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -20.08 - - - -8.00

VentriPoint Diagnostics Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - -8.00 - -13.56 -

Competitive Comparison of VentriPoint Diagnostics's Beneish M-Score

For the Medical Devices subindustry, VentriPoint Diagnostics'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.


VentriPoint Diagnostics's Beneish M-Score Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, VentriPoint Diagnostics's Beneish M-Score distribution charts can be found below:

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



VentriPoint Diagnostics 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 VentriPoint Diagnostics for today is based on a combination of the following eight different indices:

M=-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 *
=

* 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.

This Year (Sep24) TTM:Last Year (Sep23) TTM:
Total Receivables was C$0.21 Mil.
Revenue was 0.065 + 0.031 + 0 + 0.041 = C$0.14 Mil.
Gross Profit was 0.065 + 0.031 + 0 + 0.041 = C$0.14 Mil.
Total Current Assets was C$0.52 Mil.
Total Assets was C$0.72 Mil.
Property, Plant and Equipment(Net PPE) was C$0.20 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.07 Mil.
Selling, General, & Admin. Expense(SGA) was C$4.14 Mil.
Total Current Liabilities was C$1.86 Mil.
Long-Term Debt & Capital Lease Obligation was C$1.32 Mil.
Net Income was -1.251 + -1.419 + -1.189 + -1.237 = C$-5.10 Mil.
Non Operating Income was 0.007 + -0.004 + -0.009 + 0.002 = C$-0.00 Mil.
Cash Flow from Operations was -0.691 + -1.101 + -0.873 + -0.992 = C$-3.66 Mil.
Total Receivables was C$0.27 Mil.
Revenue was 0 + 0.004 + 0.004 + 0.028 = C$0.04 Mil.
Gross Profit was -0.007 + 0.004 + 0.004 + 0.022 = C$0.02 Mil.
Total Current Assets was C$2.65 Mil.
Total Assets was C$2.92 Mil.
Property, Plant and Equipment(Net PPE) was C$0.26 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.07 Mil.
Selling, General, & Admin. Expense(SGA) was C$3.59 Mil.
Total Current Liabilities was C$1.29 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.32 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)
=(0.213 / 0.137) / (0.267 / 0.036)
=1.554745 / 7.416667
=

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)
=(0.023 / 0.036) / (0.137 / 0.137)
=0.638889 / 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 - (0.519 + 0.199) / 0.718) / (1 - (2.653 + 0.263) / 2.916)
=0 / 0
=

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
=0.137 / 0.036
=

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))
=(0.069 / (0.069 + 0.263)) / (0.065 / (0.065 + 0.199))
=0.207831 / 0.246212
=

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)
=(4.139 / 0.137) / (3.59 / 0.036)
=30.211679 / 99.722222
=

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)
=((1.316 + 1.864) / 0.718) / ((0.315 + 1.287) / 2.916)
=4.428969 / 0.549383
=

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
=(-5.096 - -0.004 - -3.657) / 0.718
=-1.998607

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.


VentriPoint Diagnostics Beneish M-Score Related Terms

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VentriPoint Diagnostics Business Description

Traded in Other Exchanges
Address
18 Hook Avenue, Unit 101, Toronto, ON, CAN, M6P 1T4
VentriPoint Diagnostics Ltd is a medical device company engaged in the development and commercialization of diagnostic tools that monitor patients with heart disease. It develops applications for heart diseases and imaging modalities which includes congenital heart disease, left or right heart failure, and normal hearts. It sells its products in Canada and internationally.
Executives
Hugh Macnaught Director, Senior Officer
Robert Hodgkinson Director
George Adams Director, Senior Officer

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