Sunniva (XCNQ:SNN) Beneish M-Score : 0.00 (As of Jun. 20, 2024)

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

During the past 3 years, the highest Beneish M-Score of Sunniva was 0.00. The lowest was 0.00. And the median was 0.00.

Sunniva Beneish M-Score Historical Data

The historical data trend for Sunniva'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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Sunniva Beneish M-Score Chart

Sunniva Annual Data

Trend

Dec16

Dec17

Dec18

Beneish M-Score

-2.59

Sunniva Quarterly Data
	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19
Beneish M-Score	Get a 7-Day Free Trial								-	-2.59	-	-	-2.49

Competitive Comparison of Sunniva's Beneish M-Score

For the Drug Manufacturers - Specialty & Generic subindustry, Sunniva'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.

Sunniva's Beneish M-Score Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Sunniva's Beneish M-Score distribution charts can be found below:

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

Sunniva 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 Sunniva 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 * 0.7959

0.528 * 1.208

0.404 * 0.4892

0.892 * 2.3217

0.115 * 0.6863

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.6368

4.679 * -0.138768

0.327 * 1.6415

-2.42

This Year (Sep19) TTM:

Last Year (Sep18) TTM:

Total Receivables was C$4.33 Mil.
Revenue was 5.361 + 5.349 + 14.189 + 13.809 = C$38.71 Mil.
Gross Profit was 1.573 + 0.784 + 5.258 + 6.99 = C$14.61 Mil.
Total Current Assets was C$42.46 Mil.
Total Assets was C$129.89 Mil.
Property, Plant and Equipment(Net PPE) was C$60.81 Mil.
Depreciation, Depletion and Amortization(DDA) was C$5.39 Mil.
Selling, General, & Admin. Expense(SGA) was C$39.18 Mil.
Total Current Liabilities was C$34.45 Mil.
Long-Term Debt & Capital Lease Obligation was C$41.76 Mil.
Net Income was -20.462 + -14.975 + -3.455 + -11.087 = C$-49.98 Mil.
Non Operating Income was 0.123 + -2.338 + -0.588 + -1.335 = C$-4.14 Mil.
Cash Flow from Operations was -5.564 + -0.871 + -13.734 + -7.648 = C$-27.82 Mil.

Total Receivables was C$2.34 Mil.
Revenue was 1.182 + 4.469 + 5.164 + 5.857 = C$16.67 Mil.
Gross Profit was 0.214 + 2.788 + 2.093 + 2.504 = C$7.60 Mil.
Total Current Assets was C$9.20 Mil.
Total Assets was C$100.35 Mil.
Property, Plant and Equipment(Net PPE) was C$49.11 Mil.
Depreciation, Depletion and Amortization(DDA) was C$2.91 Mil.
Selling, General, & Admin. Expense(SGA) was C$26.50 Mil.
Total Current Liabilities was C$15.73 Mil.
Long-Term Debt & Capital Lease Obligation was C$20.14 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)
	=	(4.326 / 38.708)	/	(2.341 / 16.672)
	=	0.11176	/	0.140415
	=	0.7959

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)
	=	(7.599 / 16.672)	/	(14.605 / 38.708)
	=	0.455794	/	0.377312
	=	1.208

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 - (42.463 + 60.806) / 129.886)	/	(1 - (9.201 + 49.112) / 100.345)
	=	0.204926	/	0.418875
	=	0.4892

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
	=	38.708	/	16.672
	=	2.3217

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))
	=	(2.906 / (2.906 + 49.112))	/	(5.388 / (5.388 + 60.806))
	=	0.055865	/	0.081397
	=	0.6863

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)
	=	(39.176 / 38.708)	/	(26.498 / 16.672)
	=	1.012091	/	1.589371
	=	0.6368

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)
	=	((41.761 + 34.452) / 129.886)	/	((20.14 + 15.729) / 100.345)
	=	0.586768	/	0.357457
	=	1.6415

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
	=	(-49.979 - -4.138	-	-27.817)	/	129.886
	=	-0.138768

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.

Sunniva has a M-score of -2.42 suggests that the company is unlikely to be a manipulator.

Sunniva Beneish M-Score Related Terms

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Sunniva (XCNQ:SNN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Sunniva Inc (XCNQ:SNN) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

200 Burrard Street, 1200 Waterfront Centre, P.O Box 48600, Vancouver, BC, CAN, V7X 1T2

Website

https://www.sunniva.com

Sunniva Inc is vertically integrated medical cannabis company committed to delivering safe, low-cost, high-quality products and services at scale. The company is focused on the cultivation, production and distribution of therapeutic solutions targeting two of the medical cannabis markets in the world: Canada and California.

Executives

Mark Hamish Kimmins

Director or Senior Officer of Insider or Subsidiary (other than in 4,5,6)