Crazy Woman Creek Bancorp (Crazy Woman Creek Bancorp) Beneish M-Score : 0.00 (As of Jun. 10, 2024)

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What is Crazy Woman Creek Bancorp Beneish M-Score?

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 Crazy Woman Creek Bancorp's Beneish M-Score or its related term are showing as below:

During the past 7 years, the highest Beneish M-Score of Crazy Woman Creek Bancorp was 0.00. The lowest was 0.00. And the median was 0.00.

Crazy Woman Creek Bancorp 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 Crazy Woman Creek Bancorp 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 * 0.4329

0.528 * 1

0.404 * 0.9995

0.892 * 1.627

0.115 * 1.0935

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.6416

4.679 * -0.032685

0.327 * 0.8239

-2.47

* 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.

This Year (Jun03) TTM:

Last Year (Jun02) TTM:

Total Receivables was $0.34 Mil.
Revenue was 0.043 + 0.068 + 0.05 + 0.044 = $0.21 Mil.
Gross Profit was 0.043 + 0.068 + 0.05 + 0.044 = $0.21 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $79.73 Mil.
Property, Plant and Equipment(Net PPE) was $3.59 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.18 Mil.
Selling, General, & Admin. Expense(SGA) was $1.02 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $11.70 Mil.
Net Income was 0.107 + 0.058 + 0.155 + -0.049 = $0.27 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was 2.272 + 0.075 + 0.173 + 0.357 = $2.88 Mil.

Total Receivables was $0.48 Mil.
Revenue was 0.038 + 0.033 + 0.03 + 0.025 = $0.13 Mil.
Gross Profit was 0.038 + 0.033 + 0.03 + 0.025 = $0.13 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $74.12 Mil.
Property, Plant and Equipment(Net PPE) was $3.31 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.18 Mil.
Selling, General, & Admin. Expense(SGA) was $0.98 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $13.20 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)
	=	(0.336 / 0.205)	/	(0.477 / 0.126)
	=	1.639024	/	3.785714
	=	0.4329

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)
	=	(0.126 / 0.126)	/	(0.205 / 0.205)
	=	1	/	1
	=	1

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 + 3.594) / 79.731)	/	(1 - (0 + 3.307) / 74.117)
	=	0.954923	/	0.955381
	=	0.9995

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
	=	0.205	/	0.126
	=	1.627

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))
	=	(0.184 / (0.184 + 3.307))	/	(0.182 / (0.182 + 3.594))
	=	0.052707	/	0.048199
	=	1.0935

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)
	=	(1.024 / 0.205)	/	(0.981 / 0.126)
	=	4.995122	/	7.785714
	=	0.6416

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)
	=	((11.7 + 0) / 79.731)	/	((13.2 + 0) / 74.117)
	=	0.146743	/	0.178097
	=	0.8239

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
	=	(0.271 - 0	-	2.877)	/	79.731
	=	-0.032685

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.

Crazy Woman Creek Bancorp has a M-score of -2.47 suggests that the company is unlikely to be a manipulator.

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Crazy Woman Creek Bancorp (Crazy Woman Creek Bancorp) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Crazy Woman Creek Bancorp Inc (OTCPK:CRZY) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

106 Fort Street, P.O. Box 1020, Buffalo, WY, USA, 82834-1020

Website

https://www.buffalofed.com

Crazy Woman Creek Bancorp Inc is a bank holding company engages in the provision of various financial services to individual and corporate customers. The company offers a variety of deposit products to its customers while concentrating its lending activities on real estate loans. These real estate lending activities focus on the origination of loans secured by one-to-four family residential real estate, multi-family, commercial real estate and home equity loans.