Idaho Strategic Resources (Idaho Strategic Resources) Beneish M-Score : -2.63 (As of May. 08, 2024)

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What is Idaho Strategic 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.

Good Sign:

Beneish M-Score -2.63 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Idaho Strategic Resources's Beneish M-Score or its related term are showing as below:

IDR' s Beneish M-Score Range Over the Past 10 Years
Min: -4.4 Med: -1.79 Max: 12.02
Current: -2.63

During the past 13 years, the highest Beneish M-Score of Idaho Strategic Resources was 12.02. The lowest was -4.40. And the median was -1.79.

Idaho Strategic Resources Beneish M-Score Historical Data

The historical data trend for Idaho Strategic 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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Idaho Strategic Resources Beneish M-Score Chart

Idaho Strategic Resources Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-3.78

1.86

-3.07

-1.79

-2.63

Idaho Strategic Resources 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															-1.79	-2.42	-3.13	-1.85	-2.63

Competitive Comparison of Idaho Strategic Resources's Beneish M-Score

For the Gold subindustry, Idaho Strategic 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.

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

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

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

Idaho Strategic 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 Idaho Strategic 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 * 0.8006

0.528 * 0.5583

0.404 * 0.9809

0.892 * 1.4257

0.115 * 0.7545

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.5187

4.679 * -0.040938

0.327 * 0.8956

-2.63

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $1.04 Mil.
Revenue was 3.777 + 3.301 + 3.237 + 3.342 = $13.66 Mil.
Gross Profit was 1.2 + 1.106 + 0.794 + 0.866 = $3.97 Mil.
Total Current Assets was $4.45 Mil.
Total Assets was $23.89 Mil.
Property, Plant and Equipment(Net PPE) was $18.13 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.47 Mil.
Selling, General, & Admin. Expense(SGA) was $1.19 Mil.
Total Current Liabilities was $1.73 Mil.
Long-Term Debt & Capital Lease Obligation was $1.34 Mil.
Net Income was 0.349 + 0.421 + 0.328 + 0.061 = $1.16 Mil.
Non Operating Income was 0.013 + 0 + 0.004 + 0.015 = $0.03 Mil.
Cash Flow from Operations was 0.761 + 0.2 + 0.983 + 0.161 = $2.11 Mil.

Total Receivables was $0.91 Mil.
Revenue was 3.432 + 1.745 + 2.358 + 2.044 = $9.58 Mil.
Gross Profit was 1.469 + -0.229 + 0.007 + 0.306 = $1.55 Mil.
Total Current Assets was $3.36 Mil.
Total Assets was $20.98 Mil.
Property, Plant and Equipment(Net PPE) was $16.45 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.98 Mil.
Selling, General, & Admin. Expense(SGA) was $1.61 Mil.
Total Current Liabilities was $1.63 Mil.
Long-Term Debt & Capital Lease Obligation was $1.38 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)
	=	(1.041 / 13.657)	/	(0.912 / 9.579)
	=	0.076225	/	0.095208
	=	0.8006

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)
	=	(1.553 / 9.579)	/	(3.966 / 13.657)
	=	0.162125	/	0.290401
	=	0.5583

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 - (4.447 + 18.133) / 23.89)	/	(1 - (3.36 + 16.451) / 20.984)
	=	0.054835	/	0.0559
	=	0.9809

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
	=	13.657	/	9.579
	=	1.4257

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))
	=	(0.984 / (0.984 + 16.451))	/	(1.466 / (1.466 + 18.133))
	=	0.056438	/	0.0748
	=	0.7545

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)
	=	(1.187 / 13.657)	/	(1.605 / 9.579)
	=	0.086915	/	0.167554
	=	0.5187

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)
	=	((1.338 + 1.729) / 23.89)	/	((1.378 + 1.63) / 20.984)
	=	0.12838	/	0.143347
	=	0.8956

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
	=	(1.159 - 0.032	-	2.105)	/	23.89
	=	-0.040938

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.

Idaho Strategic Resources has a M-score of -2.63 suggests that the company is unlikely to be a manipulator.

Idaho Strategic Resources Beneish M-Score Related Terms

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Idaho Strategic Resources (Idaho Strategic Resources) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Idaho Strategic Resources Inc (AMEX:IDR) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

201 N. Third Street, Coeur d’Alene, ID, USA, 83814

Website

https://www.idahostrategic.com

Idaho Strategic Resources Inc is a vertically integrated, operating junior mining company. It produces gold at the Golden Chest Mine. In addition to gold and gold production, the company maintains a strategic and domestic presence in the Critical Minerals sector and is focused on advancing its officially recognized Lemhi Pass, Diamond Creek and Roberts Rare Earth Element projects in central Idaho.

Executives

Carolyn S Turner	director	P.O. BOX 87, KINGSTON ID 83839
Richard Scott Beaven	director	201 N. 3RD ST., COEUR D'ALENE ID 83814
John Swallow	director, 10 percent owner, officer: President	905 SOUTH JARVIS ROAD, COEUR D'ALENE ID 83814
Grant A Brackebusch	director, officer: Vice President	P.O. BOX 1019, KELLOGG IA 83837
Monique D Hayes	officer: Corporate Secretary	11115 E. MONTGOMERY, SUITE G, SPOKANE VALLEY WA 99206
Robert John Morgan	officer: VP Exploration	201 N 3RD ST, COEUR D ALENE ID 83814-2806
Kevin G Shiell	director	STILLWATER MINING COMPANY, 1321 DISCOVERY DRIVE, BILLINGS MT 59102
Juniper Resources Llc	other: Strategic Partnership	967 E PARKCENTER BLVD. #365, BOISE ID 83706
Delbert W Steiner	director	3555 COUNTRY CLUB DR, LEWISTON ID 83501
R. Patrick Highsmith	director, officer: President/CEO	6852 S. CLAYTON WAY, CENTENNIAL CO 80122
Mine Systems Design Inc	10 percent owner	PO BOX 1019, KELLOGG ID 83837
M Kathleen Sims	director	PO BOX 1019, KELLOGG ID 93837
Ivan R Linscott	director	PO BOX 1019, KELLOGG ID 83837
William C Rust	director	PO BOX 1019, KELLOGG ID 83837
Fred W Brackebusch	director, 10 percent owner, officer: CEO	P.O. BOX 1019, KELLOGG ID 83837