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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 -8.22 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Sharing Services Global's Beneish M-Score or its related term are showing as below:
During the past 9 years, the highest Beneish M-Score of Sharing Services Global was 53.50. The lowest was -16.60. And the median was -2.41.
The historical data trend for Sharing Services Global'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.
Sharing Services Global Annual Data | |||||||||||||||||||
Trend | Apr15 | Apr16 | Apr17 | Apr18 | Apr19 | Apr20 | Mar21 | Mar22 | Mar23 | ||||||||||
Beneish M-Score | Get a 7-Day Free Trial | 2.42 | -1.72 | - | -2.97 | -10.19 |
Sharing Services Global Quarterly Data | ||||||||||||||||||||
Jan19 | Apr19 | Jul19 | Oct19 | Jan20 | Apr20 | Jul20 | Oct20 | Jan21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
Beneish M-Score | Get a 7-Day Free Trial | -5.11 | -10.19 | -16.60 | -9.64 | -8.22 |
For the Packaged Foods subindustry, Sharing Services Global'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 Consumer Packaged Goods industry and Consumer Defensive sector, Sharing Services Global's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sharing Services Global'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 Sharing Services Global 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 * 1.8791 | + | 0.528 * 0.9456 | + | 0.404 * 0.8088 | + | 0.892 * 0.6083 | + | 0.115 * 0.1727 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 0.8192 | + | 4.679 * -1.299322 | - | 0.327 * 0.8456 | |||||||
= | -8.22 |
* 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 $2.29 Mil. Revenue was 2.886 + 2.409 + 2.878 + 3.364 = $11.54 Mil. Gross Profit was 2.184 + 1.739 + 2.032 + 1.579 = $7.53 Mil. Total Current Assets was $5.48 Mil. Total Assets was $7.82 Mil. Property, Plant and Equipment(Net PPE) was $0.74 Mil. Depreciation, Depletion and Amortization(DDA) was $0.63 Mil. Selling, General, & Admin. Expense(SGA) was $14.05 Mil. Total Current Liabilities was $8.23 Mil. Long-Term Debt & Capital Lease Obligation was $0.42 Mil. Net Income was -0.895 + -1.455 + -2.424 + -6.921 = $-11.70 Mil. Non Operating Income was -0.017 + 1.617 + 0.17 + 0.301 = $2.07 Mil. Cash Flow from Operations was -0.455 + -1.181 + -1.789 + -0.179 = $-3.60 Mil. |
Total Receivables was $2.01 Mil. Revenue was 3.246 + 4.188 + 5.304 + 6.229 = $18.97 Mil. Gross Profit was 1.603 + 2.428 + 3.647 + 4.034 = $11.71 Mil. Total Current Assets was $8.40 Mil. Total Assets was $24.49 Mil. Property, Plant and Equipment(Net PPE) was $9.90 Mil. Depreciation, Depletion and Amortization(DDA) was $0.85 Mil. Selling, General, & Admin. Expense(SGA) was $28.19 Mil. Total Current Liabilities was $31.59 Mil. Long-Term Debt & Capital Lease Obligation was $0.41 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) |
= | (2.294 / 11.537) | / | (2.007 / 18.967) | |
= | 0.198839 | / | 0.105815 | |
= | 1.8791 |
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) | |
= | (11.712 / 18.967) | / | (7.534 / 11.537) | |
= | 0.617494 | / | 0.653029 | |
= | 0.9456 |
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 - (5.481 + 0.74) / 7.821) | / | (1 - (8.4 + 9.896) / 24.491) | |
= | 0.204577 | / | 0.25295 | |
= | 0.8088 |
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 | |
= | 11.537 | / | 18.967 | |
= | 0.6083 |
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)) |
= | (0.853 / (0.853 + 9.896)) | / | (0.629 / (0.629 + 0.74)) | |
= | 0.079356 | / | 0.459459 | |
= | 0.1727 |
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) |
= | (14.049 / 11.537) | / | (28.193 / 18.967) | |
= | 1.217734 | / | 1.486424 | |
= | 0.8192 |
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) |
= | ((0.416 + 8.225) / 7.821) | / | ((0.414 + 31.586) / 24.491) | |
= | 1.104846 | / | 1.306602 | |
= | 0.8456 |
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 | |
= | (-11.695 - 2.071 | - | -3.604) | / | 7.821 | |
= | -1.299322 |
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.
Sharing Services Global has a M-score of -8.22 suggests that the company is unlikely to be a manipulator.
Thank you for viewing the detailed overview of Sharing Services Global's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Chan Heng Fai Ambrose | director, other: Exec. Chairman of the Board | 2601 INSLAND PLACE TOWER, 510 KINGS RD N POINT, HONG KONG K3 999999999 |
Document Security Systems Inc | 10 percent owner | 275 WIREGRASS PKWY, WEST HENRIETTA NY 14586 |
Anthony S. Chan | officer: Chief Financial Officer | 228 YANJIANG AVE., JIANGAN DIST., BLDG A, WUHAN CITY F4 430010 |
Steven Mark Nicholls | officer: Chief Financial Officer | 1700 COIT ROAD, SUITE 100, PLANO TX 75075 |
Robert H Trapp | director | C/O EVISION INTERNATIONAL INC., 1888 SHERMAN ST. #500, DENVER CO 80203 |
Sassuan (samson) Lee | director | 200 CANAL VIEW BLVD., SUITE 300, ROCHESTER NY 14623 |
Frank D Heuszel | director | 275 WIREGRASS PKWY, WEST HENRIETTA, NEW YORK NY 14586 |
Frank Walters | director, officer: SECRETARY, TREASURER, CFO | C/O SHARING SERVICES, INC., 1701 COIT ROAD, SUITE 100, PLANO TX 75075 |
Keith R Halls | director | 75 W CENTER ST, PROVO UT 84601 |
Kip Hughes Allison | director | 7200 DALLAS PKWY, #2322, PLANO TX 75024 |
John Thatch | director, officer: PRESIDENT, CEO | C/O SHARING SERVICES, INC., 1701 COIT ROAD, SUITE 100, PLANO TX 75075 |
Bear Bull Market Dividends, Inc. | 10 percent owner | 600 ANTON BLVD. 11TH FLOOR, COSTA MESA CA 92626 |
Alchemist Holdings Llc | 10 percent owner | 1415 LEGACY DRIVE, SUITE 310, FRISCO TX 75034 |
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