EV Minerals (XCNQ:EVM) Beneish M-Score : 0.00 (As of Dec. 16, 2024)

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

During the past 4 years, the highest Beneish M-Score of EV Minerals was 0.00. The lowest was 0.00. And the median was 0.00.

EV Minerals Beneish M-Score Historical Data

The historical data trend for EV Minerals'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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EV Minerals Beneish M-Score Chart

EV Minerals Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

EV Minerals Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial									-	-	-	-	-

Competitive Comparison of EV Minerals's Beneish M-Score

For the Other Industrial Metals & Mining subindustry, EV Minerals'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.

EV Minerals's Beneish M-Score Distribution in the Metals & Mining Industry

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

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

EV Minerals 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 EV Minerals 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 (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was C$0.25 Mil.
Revenue was 0 + 0 + 0 + 0 = C$0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = C$0.00 Mil.
Total Current Assets was C$0.42 Mil.
Total Assets was C$0.42 Mil.
Property, Plant and Equipment(Net PPE) was C$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was C$0.45 Mil.
Total Current Liabilities was C$0.67 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.00 Mil.
Net Income was -0.159 + -0.311 + -0.647 + -0.051 = C$-1.17 Mil.
Non Operating Income was 0.002 + 0.004 + 0.012 + 0.065 = C$0.08 Mil.
Cash Flow from Operations was -0.386 + -0.176 + -0.47 + -0.001 = C$-1.03 Mil.

Total Receivables was C$0.08 Mil.
Revenue was 0 + 0 + 0 + 0 = C$0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = C$0.00 Mil.
Total Current Assets was C$0.64 Mil.
Total Assets was C$1.16 Mil.
Property, Plant and Equipment(Net PPE) was C$0.52 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was C$1.27 Mil.
Total Current Liabilities was C$0.29 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)
	=	(0.253 / 0)	/	(0.077 / 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 / 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 - (0.42 + 0) / 0.42)	/	(1 - (0.64 + 0.517) / 1.157)
	=	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 / (0 + 0.517))	/	(0 / (0 + 0))
	=	0	/
	=

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)
	=	(0.451 / 0)	/	(1.266 / 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 + 0.67) / 0.42)	/	((0 + 0.293) / 1.157)
	=	1.595238	/	0.253241
	=

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
	=	(-1.168 - 0.083	-	-1.033)	/	0.42
	=	-0.519048

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.

EV Minerals Beneish M-Score Related Terms

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EV Minerals Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » EV Minerals Corp (XCNQ:EVM) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

RLC:Germany

Address

100 King Street West, Suite 5600, P.O. Box 270, Toronto, ON, CAN, M5X 1C9

Website

https://www.evmineralscorp.ca

EV Minerals Corp is a Canadian exploration company focused on mineral exploration and development. The current focus is the EV Nickel Project, the host of the nickel-copper-cobalt McNickel deposit.

Executives

Rob Montemarano

Director