Solitario Resources (Solitario Resources) Beneish M-Score : 0.00 (As of May. 10, 2024)

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

During the past 13 years, the highest Beneish M-Score of Solitario Resources was 0.06. The lowest was -4.22. And the median was -2.48.

Solitario Resources Beneish M-Score Historical Data

The historical data trend for Solitario Resources'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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Solitario Resources Beneish M-Score Chart

Solitario Resources Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-0.01

Solitario Resources Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of Solitario Resources's Beneish M-Score

For the Other Industrial Metals & Mining subindustry, Solitario Resources'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.

Solitario Resources's Beneish M-Score Distribution in the Metals & Mining Industry

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

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

Solitario Resources 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 Solitario Resources 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 (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was -0.007 + -0.006 + -0.007 + -0.006 = $-0.03 Mil.
Total Current Assets was $8.90 Mil.
Total Assets was $25.71 Mil.
Property, Plant and Equipment(Net PPE) was $16.80 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.07 Mil.
Selling, General, & Admin. Expense(SGA) was $1.71 Mil.
Total Current Liabilities was $0.25 Mil.
Long-Term Debt & Capital Lease Obligation was $0.04 Mil.
Net Income was -0.73 + -1.042 + -1.292 + -1.04 = $-4.10 Mil.
Non Operating Income was 0.008 + 0.13 + -0.12 + -0.19 = $-0.17 Mil.
Cash Flow from Operations was -0.991 + -0.579 + -0.919 + -1.08 = $-3.57 Mil.

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was -0.006 + -0.006 + -0.007 + -0.008 = $-0.03 Mil.
Total Current Assets was $4.91 Mil.
Total Assets was $21.67 Mil.
Property, Plant and Equipment(Net PPE) was $16.76 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.07 Mil.
Selling, General, & Admin. Expense(SGA) was $1.45 Mil.
Total Current Liabilities was $0.21 Mil.
Long-Term Debt & Capital Lease Obligation was $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 / 0)	/	(0 / 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)
	=	(-0.027 / 0)	/	(-0.026 / 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 - (8.904 + 16.797) / 25.705)	/	(1 - (4.907 + 16.76) / 21.671)
	=	0.000156	/	0.000185
	=

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))
	=	(0.067 / (0.067 + 16.76))	/	(0.066 / (0.066 + 16.797))
	=	0.003982	/	0.003914
	=

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)
	=	(1.708 / 0)	/	(1.449 / 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)
	=	((0.04 + 0.247) / 25.705)	/	((0 + 0.213) / 21.671)
	=	0.011165	/	0.009829
	=

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
	=	(-4.104 - -0.172	-	-3.569)	/	25.705
	=	-0.014122

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.

Solitario Resources Beneish M-Score Related Terms

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Solitario Resources (Solitario Resources) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Solitario Resources Corp (AMEX:XPL) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

SLR:Canada

Address

4251 Kipling Street, Suite 390, Wheat Ridge, CO, USA, 80033

Website

https://www.solitarioxr.com

Solitario Resources Corp is exploration company engaging in acquiring, exploring, and developing zinc properties and other precious metals in safe jurisdictions in North and South America. It has joint venture interests in large, high-grade zinc development projects. The Florida Canyon Zinc Project in Peru is a development asset held jointly with Nexa Resources S.A., Golden Crest Project in South Dakota and the Lik Zinc Project represents a large-tonnage, high-grade development project in Alaska in partnership with Teck Resources. In addition, the company has an additional portfolio of exploration properties and royalties in the Americas.

Executives

James Kb Hesketh	director	65 SOUTH JOYCE STREET, GOLDEN CO 80401
Debbie Mino Austin	director	128 APRIL BREEZE ST., MONTGOMERY CO 77356
James R Maronick	officer: CFO	4251 KIPLING STREET, SUITE 390, WHEAT RIDGE CO 80033
Christopher E Herald	director, officer: CEO	4251 KIPLING STREET, SUITE 390, WHEAT RIDGE CO 80033
Walter H Hunt	officer: Vice President Exploration	4251 KIPLING STREET, SUITE 390, WHEAT RIDGE CO 80033
Gil Atzmon	director	1718 FOX TREE LN, SAN ANTONIO TX 78248
John A Labate	director
Brian Labadie	director	24138 FERN CRESCENT, MAPLE RIDGE A1 V4R 2S1
Leonard Harris	director	4251 KIPLING ST STE 390, WHEAT RIDGE CO 80033
Jones Mark E Iii	director	16360 PARK TEN PLACE, SUITE 217, HOUSTON TX 77084
John Hainey	director	216 TOYNBEE TRAIL, SCARBOROUGH A6 M1E 1G9
Steven A Webster	director	500 DALLAS STREET, SUITE 2300, HOUSTON TX 77002
Daniel B Leonard	director	4510 SILVER CLIFF COURT, CASTLE ROCK CO 80108
Crown Resources Corp	10 percent owner	4251 KIPLING STREET, SUITE 390, WHEAT RIDGE CO 80033