GoingPublic Media AG (XTER:G6P) Beneish M-Score : -2.27 (As of May. 26, 2024)

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What is GoingPublic Media AG 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.

Good Sign:

Beneish M-Score -2.27 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for GoingPublic Media AG's Beneish M-Score or its related term are showing as below:

XTER:G6P' s Beneish M-Score Range Over the Past 10 Years
Min: -2.69 Med: -2.22 Max: -1.62
Current: -2.27

During the past 13 years, the highest Beneish M-Score of GoingPublic Media AG was -1.62. The lowest was -2.69. And the median was -2.22.

GoingPublic Media AG Beneish M-Score Historical Data

The historical data trend for GoingPublic Media AG'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.

GoingPublic Media AG Beneish M-Score Chart

GoingPublic Media AG Annual Data

Trend

Dec12

Dec13

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-1.79

-2.47

-1.99

-2.69

-2.27

GoingPublic Media AG Semi-Annual Data
	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Dec13	Dec16	Dec17	Dec18	Dec19	Dec20	Dec21	Dec22	Dec23
Beneish M-Score	Get a 7-Day Free Trial										-1.79	-2.47	-1.99	-2.69	-2.27

Competitive Comparison of GoingPublic Media AG's Beneish M-Score

For the Publishing subindustry, GoingPublic Media AG'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.

GoingPublic Media AG's Beneish M-Score Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, GoingPublic Media AG's Beneish M-Score distribution charts can be found below:

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

GoingPublic Media AG 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 GoingPublic Media AG 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 * 1.2068

0.528 * 0.94

0.404 * 0.9461

0.892 * 1.0536

0.115 * 0.9091

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * 0.016488

0.327 * 1.1304

-2.27

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was €0.28 Mil.
Revenue was €1.67 Mil.
Gross Profit was €1.47 Mil.
Total Current Assets was €1.08 Mil.
Total Assets was €1.21 Mil.
Property, Plant and Equipment(Net PPE) was €0.03 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.02 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €0.13 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 Mil.
Net Income was €0.02 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €0.00 Mil.

Total Receivables was €0.22 Mil.
Revenue was €1.59 Mil.
Gross Profit was €1.31 Mil.
Total Current Assets was €1.12 Mil.
Total Assets was €1.27 Mil.
Property, Plant and Equipment(Net PPE) was €0.04 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.03 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €0.12 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)
	=	(0.281 / 1.67)	/	(0.221 / 1.585)
	=	0.168263	/	0.139432
	=	1.2068

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)
	=	(1.307 / 1.585)	/	(1.465 / 1.67)
	=	0.824606	/	0.877246
	=	0.94

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 - (1.078 + 0.026) / 1.213)	/	(1 - (1.118 + 0.035) / 1.274)
	=	0.08986	/	0.094976
	=	0.9461

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
	=	1.67	/	1.585
	=	1.0536

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))
	=	(0.025 / (0.025 + 0.035))	/	(0.022 / (0.022 + 0.026))
	=	0.416667	/	0.458333
	=	0.9091

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 / 1.67)	/	(0 / 1.585)
	=	0	/	0
	=	1

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 + 0.127) / 1.213)	/	((0 + 0.118) / 1.274)
	=	0.104699	/	0.092622
	=	1.1304

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
	=	(0.02 - 0	-	0)	/	1.213
	=	0.016488

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.

GoingPublic Media AG has a M-score of -2.27 suggests that the company is unlikely to be a manipulator.

GoingPublic Media AG Beneish M-Score Related Terms

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GoingPublic Media AG (XTER:G6P) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » GoingPublic Media AG (XTER:G6P) » Definitions » Beneish M-Score

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G6P:Germany

Address

Hofmannstrasse 7a, Munich, DEU

Website

http://www.goingpublic.de

GoingPublic Media AG is a German financial publications company. It publishes journals, newsletters, books, and special guides. It also operates platform for online newsletters and organizes events.

GoingPublic Media AG (XTER:G6P) Headlines

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