Neuberger Berman Next Generation Connectivity Fund (Neuberger Berman Next Generation Connectivity Fund) Beneish M-Score : 0.00 (As of Jun. 08, 2024)

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What is Neuberger Berman Next Generation Connectivity 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 Neuberger Berman Next Generation Connectivity Fund's Beneish M-Score or its related term are showing as below:

During the past 3 years, the highest Beneish M-Score of Neuberger Berman Next Generation Connectivity Fund was 0.00. The lowest was 0.00. And the median was 0.00.

Neuberger Berman Next Generation Connectivity 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 Neuberger Berman Next Generation Connectivity 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 $0.9 Mil.
Revenue was $117.1 Mil.
Gross Profit was $117.1 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $948.5 Mil.
Property, Plant and Equipment(Net PPE) was $0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.0 Mil.
Selling, General, & Admin. Expense(SGA) was $3.1 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 Mil.
Net Income was $113.7 Mil.
Gross Profit was $0.0 Mil.
Cash Flow from Operations was $92.0 Mil.

Total Receivables was $0.3 Mil.
Revenue was $-629.7 Mil.
Gross Profit was $-629.7 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $943.1 Mil.
Property, Plant and Equipment(Net PPE) was $0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.0 Mil.
Selling, General, & Admin. Expense(SGA) was $3.5 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 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)
	=	(0.862 / 117.077)	/	(0.25 / -629.744)
	=	0.007363	/
	=

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)
	=	(-629.744 / -629.744)	/	(117.077 / 117.077)
	=		/	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) / 948.532)	/	(1 - (0 + 0) / 943.095)
	=	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
	=	117.077	/	-629.744
	=

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 / (0 + 0))	/	(0 / (0 + 0))
	=		/
	=

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)
	=	(3.136 / 117.077)	/	(3.518 / -629.744)
	=	0.026786	/
	=

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) / 948.532)	/	((0 + 0) / 943.095)
	=	0	/	0
	=

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
	=	(113.738 - 0	-	91.962)	/	948.532
	=	0.022958

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.

Neuberger Berman Next Generation Connectivity Fund Beneish M-Score Related Terms

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Neuberger Berman Next Generation Connectivity Fund (Neuberger Berman Next Generation Connectivity Fund) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE:NBXG) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

1290 Avenue of the Americas, New York, NY, USA, 10104-0002

Website

https://www.nb.com

Neuberger Berman Next Generation Connectivity Fund Inc. is a non-diversified, closed-end management investment company. The fund's investment objectives are to provide capital appreciation and income.

Executives

Franklyn E. Smith	director	C/O NEUBERGER BERMAN INVESTMENT ADVISERS, 1290 AVENUE OF THE AMERICAS, NEW YORK NY 10104-0002
Ami Kaplan	director	C/O NEUBERGER BERMAN INVESTMENT ADVISERS, 1290 AVENUE OF THE AMERICAS, NEW YORK NY 10104-0002
Martha Clark Goss	director	C/O OCWEN FINANCIAL CORPORATION, 1661 WORTHINGTON RD, SUITE 100, WEST PALM BEACH FL 33409
Michael M Knetter	director	C/O LEHMAN BROTHERS INC, 399 PARK AVENUE, NEW YORK NY 10022
Hari Ramanan	other: Portfolio Manager	C/O NEUBERGER BERMAN INVESTMENT ADVISERS, 1290 AVENUE OF THE AMERICAS, NEW YORK NY 10104-0002
Timothy Creedon	other: Portfolio Manager	C/O NEUBERGER BERMAN INVESTMENT ADVISERS, 1290 AVENUE OF THE AMERICAS, NEW YORK NY 10104-0002
Yan Taw Boon	other: Portfolio Manager	C/O NEUBERGER BERMAN INVESTMENT ADVISERS, 1290 AVENUE OF THE AMERICAS, NEW YORK NY 10104-0002
Candace L Straight	director	C/O MONTPELIER RE HOLDINGS LTD., 94 PITTS BAY ROAD, PEMBROKE D0 HM 08
Peter P Trapp	director	C/O NEUBERGER BERMAN MANAGEMENT INC, 605 THIRD AVENUE 2ND FLOOR, NEW YORK NY 10158-0180
Neuberger Berman Investment Advisers Llc	other: Investment Adv	1290 AVENUE OF THE AMERICAS, 26TH FLOOR, NEW YORK NY 10104
Tom D Seip	director	PO BOX 9280, WALNUT CREEK CA 94598
John M Mcgovern	officer: Treasurer	605 THIRD AVE, NEW YORK NY 10158-3698
George W Morriss	director	C/O NEUBERGER BERMAN INVESTMENT ADVISERS, 1290 AVENUE OF THE AMERICAS, NEW YORK NY 10104-0002
Joseph V Amato	director	605 THIRD AVENUE, NEW YORK NY 10158-3698
Claudia A. Brandon	officer: Executive Vice President	605 THIRD AVENUE, NEW YORK NY 10158-3698