Piedmont Lithium (Piedmont Lithium) Beneish M-Score : 0.00 (As of Apr. 25, 2024)

View and export this data going back to 2017. Start your Free Trial

What is Piedmont Lithium 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.

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

During the past 13 years, the highest Beneish M-Score of Piedmont Lithium was 0.00. The lowest was 0.00. And the median was 0.00.

Piedmont Lithium Beneish M-Score Historical Data

The historical data trend for Piedmont Lithium'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.

* Premium members only.

Piedmont Lithium Beneish M-Score Chart

Piedmont Lithium Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Dec22

Dec23

Beneish M-Score

Get a 7-Day Free Trial

Piedmont Lithium Quarterly Data
	Dec18	Mar19	Jun19	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															-	-	-	-	-

Competitive Comparison of Piedmont Lithium's Beneish M-Score

For the Other Industrial Metals & Mining subindustry, Piedmont Lithium'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.

Piedmont Lithium's Beneish M-Score Distribution in the Metals & Mining Industry

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

* The bar in red indicates where Piedmont Lithium's Beneish M-Score falls into.

Piedmont Lithium 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 Piedmont Lithium 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 *

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $0.60 Mil.
Revenue was -7.31 + 47.127 + 0 + 0 = $39.82 Mil.
Gross Profit was -18.085 + 23.764 + 0 + 0 = $5.68 Mil.
Total Current Assets was $76.15 Mil.
Total Assets was $381.26 Mil.
Property, Plant and Equipment(Net PPE) was $128.46 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.27 Mil.
Selling, General, & Admin. Expense(SGA) was $43.32 Mil.
Total Current Liabilities was $41.37 Mil.
Long-Term Debt & Capital Lease Obligation was $1.11 Mil.
Net Income was -25.39 + 22.891 + -10.639 + -8.64 = $-21.78 Mil.
Non Operating Income was 3.523 + 11.788 + 1.282 + 0.483 = $17.08 Mil.
Cash Flow from Operations was -3.833 + 25.091 + -10.176 + -9.512 = $1.57 Mil.

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $101.86 Mil.
Total Assets was $287.92 Mil.
Property, Plant and Equipment(Net PPE) was $72.83 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.07 Mil.
Selling, General, & Admin. Expense(SGA) was $29.45 Mil.
Total Current Liabilities was $13.41 Mil.
Long-Term Debt & Capital Lease Obligation was $1.34 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)
	=	(0.595 / 39.817)	/	(0 / 0)
	=	0.014943	/
	=

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 / 0)	/	(5.679 / 39.817)
	=		/	0.142628
	=

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 - (76.154 + 128.457) / 381.255)	/	(1 - (101.859 + 72.834) / 287.921)
	=	0.463322	/	0.393261
	=

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
	=	39.817	/	0
	=

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))
	=	(0.074 / (0.074 + 72.834))	/	(0.272 / (0.272 + 128.457))
	=	0.001015	/	0.002113
	=

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)
	=	(43.319 / 39.817)	/	(29.448 / 0)
	=	1.087952	/
	=

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)
	=	((1.105 + 41.366) / 381.255)	/	((1.34 + 13.411) / 287.921)
	=	0.111398	/	0.051233
	=

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
	=	(-21.778 - 17.076	-	1.57)	/	381.255
	=	-0.106029

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.

Piedmont Lithium Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Piedmont Lithium's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Piedmont Lithium (Piedmont Lithium) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Piedmont Lithium Inc (NAS:PLL) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

PLLTL:USA 6S3:Germany 6S3A:Germany 6S3A:Germany PLL:Australia

Address

42 E Catawba Street, Belmont, NC, USA, 28012

Website

https://www.piedmontlithium.com

Piedmont Lithium Inc, is a lithium-based company focused on the development of its Piedmont Lithium Project located within the Carolina TinSpodumene Belt (''TSB'') and along trend to the Hallman Beam and Kings Mountain mines.

Executives

Claude Demby	director	C/O SMART MODULAR TECHNOLOGIES, INC., 39870 EUREKA DRIVE, NEWARK CA 94560
Michael D White	officer: EVP and CFO	17988 EDISON AVE, CHESTERFIELD MA 63005
Michael A Bless	director	C/O ROCKWELL INTERNATIONAL INC, 777 E. WISCONSIN AVE #1400, MILWAUKEE WI 53202
Bruce Czachor	officer: EVP, CLO & Secretary	32 NORTH MAIN STREET, SUITE 100, BELMONT NC 28012
Patrick Brindle	officer: EVP and CDO	32N MAIN STREET, SUITE 100, BELMONT NC 28012
Keith D. Phillips	director, officer: President and CEO	42 E CATAWBA STREET, BELMONT NC 28012
Austin Devaney	officer: EVP and CCO	C/O PIEDMONT LITHIUM INC., 42 E CATAWBA STREET, BELMONT NC 28012
Krishna Mcvey	officer: EVP and CAO	C/O PIEDMONT LITHIUM INC., 42 E CATAWBA STREET, BELMONT NC 28012
Christina M Alvord	director	1200 URBAN CENTER DRIVE, BIRMINGHAM AL 35242
Jeffrey T. Armstrong	director	32N MAIN STREET, SUITE 100, BELMONT NC 28012
David Klanecky	officer: EVP and COO	32N MAIN STREET, SUITE 100, BELMONT NC 28012
Susan C. Jones	director	32N MAIN STREET, SUITE 100, BELMONT NC 28012
Levi Mochkin	director
Todd Hannigan	director	32N MAIN STREET, SUITE 100, BELMONT NC 28012
Jorge Beristain	director	32N MAIN STREET, SUITE 100, BELMONT NC 28012