Gaming Innovation Group (OSL:GIG) Beneish M-Score : -2.59 (As of May. 26, 2024)

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What is Gaming Innovation Group 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 -2.59 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

OSL:GIG' s Beneish M-Score Range Over the Past 10 Years
Min: -14.21 Med: -2.38 Max: 12511.9
Current: -2.59

During the past 13 years, the highest Beneish M-Score of Gaming Innovation Group was 12511.90. The lowest was -14.21. And the median was -2.38.

Gaming Innovation Group Beneish M-Score Historical Data

The historical data trend for Gaming Innovation Group'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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Gaming Innovation Group Beneish M-Score Chart

Gaming Innovation Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-5.42

-4.18

-3.25

-2.31

-2.69

Gaming Innovation Group Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial															-2.44	-2.56	-2.14	-2.69	-2.59

Competitive Comparison of Gaming Innovation Group's Beneish M-Score

For the Gambling subindustry, Gaming Innovation Group'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.

Gaming Innovation Group's Beneish M-Score Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Gaming Innovation Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Gaming Innovation Group's Beneish M-Score falls into.

Gaming Innovation Group 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 Gaming Innovation Group 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 * 0.6377

0.528 * 1.7633

0.404 * 0.4825

0.892 * 1.6146

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0156

4.679 * -0.099515

0.327 * 1.167

-2.59

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was kr262.5 Mil.
Revenue was 322.677 + -160.024 + 401.266 + 408.24 = kr972.2 Mil.
Gross Profit was 322.677 + -160.024 + 387.726 + 393.15 = kr943.5 Mil.
Total Current Assets was kr1,807.5 Mil.
Total Assets was kr3,064.8 Mil.
Property, Plant and Equipment(Net PPE) was kr0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was kr345.7 Mil.
Selling, General, & Admin. Expense(SGA) was kr297.6 Mil.
Total Current Liabilities was kr821.3 Mil.
Long-Term Debt & Capital Lease Obligation was kr888.9 Mil.
Net Income was 41.053 + -88.571 + 102.875 + 76.125 = kr131.5 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = kr0.0 Mil.
Cash Flow from Operations was 118.925 + 115.79 + 95.527 + 106.233 = kr436.5 Mil.

Total Receivables was kr255.0 Mil.
Revenue was 207.669 + -158.082 + 279.349 + 273.186 = kr602.1 Mil.
Gross Profit was 207.669 + 299.239 + 264.799 + 258.749 = kr1,030.5 Mil.
Total Current Assets was kr375.7 Mil.
Total Assets was kr2,508.8 Mil.
Property, Plant and Equipment(Net PPE) was kr0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was kr257.2 Mil.
Selling, General, & Admin. Expense(SGA) was kr181.5 Mil.
Total Current Liabilities was kr528.4 Mil.
Long-Term Debt & Capital Lease Obligation was kr671.2 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)
	=	(262.523 / 972.159)	/	(254.963 / 602.122)
	=	0.270041	/	0.423441
	=	0.6377

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)
	=	(1030.456 / 602.122)	/	(943.529 / 972.159)
	=	1.711374	/	0.97055
	=	1.7633

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 - (1807.517 + 0) / 3064.798)	/	(1 - (375.723 + 0) / 2508.785)
	=	0.410233	/	0.850237
	=	0.4825

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
	=	972.159	/	602.122
	=	1.6146

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))
	=	(257.23 / (257.23 + 0))	/	(345.69 / (345.69 + 0))
	=	1	/	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)
	=	(297.631 / 972.159)	/	(181.518 / 602.122)
	=	0.306155	/	0.301464
	=	1.0156

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)
	=	((888.879 + 821.33) / 3064.798)	/	((671.214 + 528.385) / 2508.785)
	=	0.558017	/	0.478159
	=	1.167

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
	=	(131.482 - 0	-	436.475)	/	3064.798
	=	-0.099515

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.

Gaming Innovation Group has a M-score of -2.59 suggests that the company is unlikely to be a manipulator.

Gaming Innovation Group Beneish M-Score Related Terms

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Gaming Innovation Group (OSL:GIG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Gaming Innovation Group Inc (OSL:GIG) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

GIGo:Sweden GI11:Germany

Address

Golden Mile Business Centre, Triq Id-Dragunara, St Julian’s, MLT, 3148

Website

https://www.gig.com

Gaming Innovation Group Inc is an iGaming technology company, providing solutions, products and services to iGaming Operators. It operates iGamingCloud.com, a cloud-based platform as a software-as-a-service. It also offers business-to-consumer casino and sports betting services through its online gaming Websites and online performance marketing services. The company's vision is to be the industry leading platform and media provider delivering world class solutions to iGaming partners and their customers'. Its mission is to drive sustainable growth and profitability of partners through product innovation, scalable technology and quality of service.