VSOLF (Three Sixty Solar) Beneish M-Score : 0.00 (As of Dec. 13, 2024)

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What is Three Sixty Solar 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 Three Sixty Solar's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Three Sixty Solar was -15.18. The lowest was -21.39. And the median was -16.95.

Three Sixty Solar Beneish M-Score Historical Data

The historical data trend for Three Sixty Solar'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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Three Sixty Solar Beneish M-Score Chart

Three Sixty Solar Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Sep22

Sep23

Beneish M-Score

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Three Sixty Solar Quarterly Data
	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of Three Sixty Solar's Beneish M-Score

For the Solar subindustry, Three Sixty Solar'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.

Three Sixty Solar's Beneish M-Score Distribution in the Semiconductors Industry

For the Semiconductors industry and Technology sector, Three Sixty Solar's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Three Sixty Solar's Beneish M-Score falls into.

Three Sixty Solar 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 Three Sixty Solar 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 (Jun24) TTM:

Last Year (Jun23) TTM:

Total Receivables was $0.05 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $0.11 Mil.
Total Assets was $0.27 Mil.
Property, Plant and Equipment(Net PPE) was $0.16 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.09 Mil.
Selling, General, & Admin. Expense(SGA) was $2.06 Mil.
Total Current Liabilities was $1.40 Mil.
Long-Term Debt & Capital Lease Obligation was $0.13 Mil.
Net Income was -0.212 + -0.418 + -0.294 + -1.587 = $-2.51 Mil.
Non Operating Income was 0.039 + 0.043 + 0.027 + -0.001 = $0.11 Mil.
Cash Flow from Operations was -0.018 + -0.04 + -0.089 + -0.361 = $-0.51 Mil.

Total Receivables was $0.12 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + -0.033 + -0.033 + -0.022 = $-0.09 Mil.
Total Current Assets was $1.55 Mil.
Total Assets was $1.82 Mil.
Property, Plant and Equipment(Net PPE) was $0.26 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.14 Mil.
Selling, General, & Admin. Expense(SGA) was $5.73 Mil.
Total Current Liabilities was $0.83 Mil.
Long-Term Debt & Capital Lease Obligation was $0.24 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)
	=	(0.049 / 0)	/	(0.123 / 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)
	=	(-0.088 / 0)	/	(0 / 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 - (0.106 + 0.163) / 0.269)	/	(1 - (1.554 + 0.261) / 1.815)
	=	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	/	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))
	=	(0.142 / (0.142 + 0.261))	/	(0.091 / (0.091 + 0.163))
	=	0.352357	/	0.358268
	=

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)
	=	(2.063 / 0)	/	(5.726 / 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)
	=	((0.126 + 1.402) / 0.269)	/	((0.237 + 0.827) / 1.815)
	=	5.680297	/	0.586226
	=

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
	=	(-2.511 - 0.108	-	-0.508)	/	0.269
	=	-7.847584

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.

Three Sixty Solar Beneish M-Score Related Terms

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Three Sixty Solar Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Semiconductors » Three Sixty Solar Ltd (OTCPK:VSOLF) » Definitions » Beneish M-Score

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Address

408 - 55 Water Street, Office 8312, Vancouver, BC, CAN, V6B 1A1

Website

https://www.threesixtysolar.com

Three Sixty Solar Ltd is engaged in designing and developing vertical solar towers to provide a range of energy solutions for small commercial projects up to large utility-scale solar farms.