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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 -2.81 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Selectis Health's Beneish M-Score or its related term are showing as below:
During the past 13 years, the highest Beneish M-Score of Selectis Health was 16.74. The lowest was -3.42. And the median was -2.22.
The historical data trend for Selectis Health'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.
Selectis Health Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Beneish M-Score | Get a 7-Day Free Trial | 0.87 | 1.59 | -2.05 | -2.64 | -2.81 |
Selectis Health Quarterly Data | ||||||||||||||||||||
Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
Beneish M-Score | Get a 7-Day Free Trial | -2.64 | -1.96 | -2.25 | -3.04 | -2.81 |
For the Medical Care Facilities subindustry, Selectis Health'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.
For the Healthcare Providers & Services industry and Healthcare sector, Selectis Health's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Selectis Health's Beneish M-Score falls into.
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 Selectis Health for today is based on a combination of the following eight different indices:
M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
= | -4.84 | + | 0.92 * 0.7917 | + | 0.528 * 2.1102 | + | 0.404 * 0.9555 | + | 0.892 * 0.9096 | + | 0.115 * 1.0247 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 1.2539 | + | 4.679 * -0.118143 | - | 0.327 * 1.0975 | |||||||
= | -2.81 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $2.09 Mil. Revenue was 9.203 + 9.045 + 8.138 + 8.786 = $35.17 Mil. Gross Profit was 1.461 + 1.347 + 0.712 + 0.276 = $3.80 Mil. Total Current Assets was $4.96 Mil. Total Assets was $40.67 Mil. Property, Plant and Equipment(Net PPE) was $33.82 Mil. Depreciation, Depletion and Amortization(DDA) was $1.67 Mil. Selling, General, & Admin. Expense(SGA) was $9.97 Mil. Total Current Liabilities was $18.15 Mil. Long-Term Debt & Capital Lease Obligation was $25.49 Mil. Net Income was -3.633 + -2.262 + -2.101 + 4.025 = $-3.97 Mil. Non Operating Income was -6.827 + 0.56 + 0.05 + 6.514 = $0.30 Mil. Cash Flow from Operations was -1.854 + 2.358 + 0.1 + -0.067 = $0.54 Mil. |
Total Receivables was $2.91 Mil. Revenue was 10.419 + 9.294 + 9.431 + 9.522 = $38.67 Mil. Gross Profit was 1.752 + 2.066 + 2.428 + 2.56 = $8.81 Mil. Total Current Assets was $4.96 Mil. Total Assets was $42.49 Mil. Property, Plant and Equipment(Net PPE) was $35.45 Mil. Depreciation, Depletion and Amortization(DDA) was $1.79 Mil. Selling, General, & Admin. Expense(SGA) was $8.74 Mil. Total Current Liabilities was $6.85 Mil. Long-Term Debt & Capital Lease Obligation was $34.69 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) |
= | (2.092 / 35.172) | / | (2.905 / 38.666) | |
= | 0.059479 | / | 0.075131 | |
= | 0.7917 |
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) | |
= | (8.806 / 38.666) | / | (3.796 / 35.172) | |
= | 0.227745 | / | 0.107927 | |
= | 2.1102 |
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 - (4.957 + 33.818) / 40.671) | / | (1 - (4.963 + 35.454) / 42.49) | |
= | 0.046618 | / | 0.048788 | |
= | 0.9555 |
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 | |
= | 35.172 | / | 38.666 | |
= | 0.9096 |
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)) |
= | (1.793 / (1.793 + 35.454)) | / | (1.667 / (1.667 + 33.818)) | |
= | 0.048138 | / | 0.046978 | |
= | 1.0247 |
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) |
= | (9.968 / 35.172) | / | (8.739 / 38.666) | |
= | 0.283407 | / | 0.226013 | |
= | 1.2539 |
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) |
= | ((25.489 + 18.146) / 40.671) | / | ((34.689 + 6.848) / 42.49) | |
= | 1.072877 | / | 0.977571 | |
= | 1.0975 |
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 | |
= | (-3.971 - 0.297 | - | 0.537) | / | 40.671 | |
= | -0.118143 |
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.
Selectis Health has a M-score of -2.81 suggests that the company is unlikely to be a manipulator.
Thank you for viewing the detailed overview of Selectis Health's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Lance Baller | director | 10173 BRIARGROVE WAY, HIGHLANDS RANCH CO 80126 |
David J. Furstenberg | director | 1226 WIND CHIME DR., WATERFORD MI 48327 |
Brandon Thall | officer: CFO | 8480 E. ORCHARD ROAD, STE. 4900, GREENWOOD VILLAGE CO 80111 |
Christopher R. Barker | officer: President and COO | 8480 E. ORCHARD ROAD, STE. 4900, GREENWOOD VILLAGE CO 80111 |
Neuman Clifford L Esq | director, 10 percent owner | 6800 NORTH 79TH STREET, SUITE # 200, NIWOT CO 80503 |
Downs John H Jr | director | PO BOX 723040, ATLANTA GA 30339 |
Andrew L Sink | director | P O BOX 531124, BIRMINGHAM AL 35253 |
Joshua Mandell | director | C/O GLOBAL HEALTHCARE REIT, INC., 8480 E. ORCHARD RD., STE. 4900, GREENWOOD VILLAGE CO 80111 |
Adam Desmond | director | PO BOX 2036, CARBONDALE CO 81623 |
Jacob Taylor | officer: Secretary | 6800 N. 79TH ST., STE. 200, NIWOT CO 80503 |
Sandra Lee Kuwica | officer: Vice President of Finance | C/O GLOBAL HEALTHCARE REIT, INC., 8480 E. ORCHARD RD., STE. 3600, GREENWOOD VILLAGE CO 80111 |
Steven Mark Bathgate | director | 5350 S ROSLYN, SUITE 380, ENGLEWOOD CO 80111 |
Philip S Scarborough | officer: Chief Financial Officer | 595 ATLANTA STREET, SUITE D, ROSWELL GA 30075 |
Christopher F Brogdon | director, officer: President | 2 BUCKHEAD PLAZA, 3050 PEACHTREE ROAD, SUITE 570, ATLANTA GA 30305 |
Brogdon Connie B | other: spouse of Director/President | 6000 LAKE FORREST DR, STE 200, ATLANTA GA 30328 |
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