Allspring Multi-Sectorome Fund (Allspring Multi-Sectorome Fund) Beneish M-Score : 0.00 (As of Jun. 08, 2024)

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What is Allspring Multi-Sectorome Fund 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 Allspring Multi-Sectorome Fund's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Allspring Multi-Sectorome Fund was 28.88. The lowest was -3.80. And the median was 10.14.

Allspring Multi-Sectorome Fund 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 Allspring Multi-Sectorome Fund 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 *

* 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 (Oct23) TTM:

Last Year (Oct22) TTM:

Total Receivables was $7.62 Mil.
Revenue was $20.74 Mil.
Gross Profit was $20.74 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $389.71 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $-1.34 Mil.
Selling, General, & Admin. Expense(SGA) was $0.43 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $119.00 Mil.
Net Income was $20.26 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $22.86 Mil.

Total Receivables was $7.50 Mil.
Revenue was $-55.92 Mil.
Gross Profit was $-55.92 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $389.72 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.31 Mil.
Selling, General, & Admin. Expense(SGA) was $0.32 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $119.00 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)
	=	(7.619 / 20.736)	/	(7.503 / -55.921)
	=	0.367429	/
	=

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)
	=	(-55.921 / -55.921)	/	(20.736 / 20.736)
	=		/	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 + 0) / 389.712)	/	(1 - (0 + 0) / 389.722)
	=	1	/	1
	=

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
	=	20.736	/	-55.921
	=

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))
	=	(0.313 / (0.313 + 0))	/	(-1.337 / (-1.337 + 0))
	=	1	/	1
	=

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)
	=	(0.429 / 20.736)	/	(0.316 / -55.921)
	=	0.020689	/
	=

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)
	=	((119 + 0) / 389.712)	/	((119 + 0) / 389.722)
	=	0.305354	/	0.305346
	=

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
	=	(20.262 - 0	-	22.861)	/	389.712
	=	-0.006669

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.

Allspring Multi-Sectorome Fund Beneish M-Score Related Terms

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Allspring Multi-Sectorome Fund (Allspring Multi-Sectorome Fund) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Allspring Multi-Sector Income Fund (AMEX:ERC) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

525 Market Street, San Francisco, CA, USA, 94105

Website

https://www.allspringglobal.com

Allspring Multi-Sector Income Fund is a closed-end investment management company. The company's core business is to secure a high level of income for its investors consistent with limiting its overall exposure to domestic interest rate risk. It invests in U.S. dollar-denominated below investment-grade bonds, debentures, and other income obligations, including loans and preferred stocks, developed and emerging market debt securities, including obligations of foreign governments or governmental entities, foreign corporations, or supranational agencies denominated in various currencies, asset backed securities and investment grade corporate bonds.

Executives

Jennifer Lea Grunberg	officer: Chief Compliance Officer	350 PARK AVENUE, ALLSPRING GLOBAL INVESTMENTS, NEW YORK NY 10022
Jonathan Crawford	officer: Chief Compliance Officer	BOW BELLS HOUSE, 1 BREAD STREET, LONDON X0 EC4M 4BE
Paul Werner Felsch	officer: Chief Complaince Officer	100 HERITAGE RESERVE, ALLSPRING GLOBAL INVESTMENTS, MENOMONEE FALLS WI 53051
Jane A Freeman	director	ALLSPRING FUNDS MANAGEMENT, LLC, 525 MARKET STREET, 12TH FLOOR, SAN FRANCISCO CA 94105
Christopher Micah Baker	officer: Chief Compliance Officer	ALLSPRING GLOBAL INVESTMENTS, 101 SEAPORT BLVD, BOSTON MA 02356
Karin Brotman	officer: Chief Compliance Officer	ALLSPRING GLOBAL INVESTMENTS, 525 MARKET STREET, SAN FRANCISCO CA 94105
Kate Sandman Mckinley	officer: Chief Compliance Officer	ALLSPRING GLOBAL INVESTMENTS, 101 SEAPORT BLVD, BOSTON MA 02210
Richard Matthew Prasse	officer: Secretary	WELLS FARGO LAW DEPARTMENT, 125 HIGH STREET, FLOOR 13, BOSTON MA 02110-2704
Simon Fj Cockbill	officer: Chief Compliance Officer	WELLS FARGO BANK, 33 KING WILLIAM STREET, FLOOR 03, LONDON X0 EC4R 9AT
Christopher M Lee	other: Portfolio Manager	WELLS CAPITAL MANAGEMENT, 525 MARKET STREET, 12TH FLOOR, SAN FRANCISCO CA 94105
Alison Jane Hewitt	officer: Chief Compliance Officer	WELLS FARGO BANK, 33 KING WILLIAM STREET, FLOOR 01, LONDON X0 EC4R 9AT
Michael Joseph Schueller	other: Portfolio Manager	100 HERITAGE RESERVE, 2ND FLOOR, WELLS CAPITAL MANAGEMENT, MENOMONEE FALLS WI 53051-4400
Daniel J. Mavico	officer: Chief Compliance Officer	401 S TRYON STREET, FLOOR 2, CHARLOTTE NC 28202-1911
Kevin T. Roskopf	other: Share Repurchase Committee Mem	WELLS FARGO ASSET MANAGEMENT, 100 HERITAGE RESERVE, 1ST FLOOR, MENOMONEE FALLS WI 53051-4400
Catherine Jane Ibbotson	officer: Chief Compliance Officer	1 PLANTATION PL 30 FENCHURCH ST, LONDON X0 EC3M 3BD