Nexia Health Technologies (TSXV:NGH.H) Beneish M-Score : 0.00 (As of Jun. 06, 2024)

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What is Nexia Health Technologies 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 Nexia Health Technologies's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Nexia Health Technologies was 0.00. The lowest was 0.00. And the median was 0.00.

Nexia Health Technologies Beneish M-Score Historical Data

The historical data trend for Nexia Health Technologies'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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Nexia Health Technologies Beneish M-Score Chart

Nexia Health Technologies Annual Data

Trend

Mar10

Mar11

Mar12

Mar13

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Beneish M-Score

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-3.54

-1.89

-9.53

Nexia Health Technologies Quarterly Data
	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19
Beneish M-Score	Get a 7-Day Free Trial															-9.53	-9.53	-9.53	-9.53	-9.53

Competitive Comparison of Nexia Health Technologies's Beneish M-Score

For the Conglomerates subindustry, Nexia Health Technologies'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.

Nexia Health Technologies's Beneish M-Score Distribution in the Conglomerates Industry

For the Conglomerates industry and Industrials sector, Nexia Health Technologies's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Nexia Health Technologies's Beneish M-Score falls into.

Nexia Health Technologies 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 Nexia Health Technologies 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 (Dec19) TTM:

Last Year (Dec18) TTM:

Total Receivables was C$0.01 Mil.
Revenue was 0 + 0 + 0 + 0 = C$0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = C$0.00 Mil.
Total Current Assets was C$0.24 Mil.
Total Assets was C$0.24 Mil.
Property, Plant and Equipment(Net PPE) was C$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was C$1.66 Mil.
Total Current Liabilities was C$2.70 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.00 Mil.
Net Income was -0.15 + -0.282 + -0.326 + -0.897 = C$-1.66 Mil.
Non Operating Income was 0 + 0.001 + -0.002 + 0.004 = C$0.00 Mil.
Cash Flow from Operations was -0.154 + -0.205 + -0.193 + -0.079 = C$-0.63 Mil.

Total Receivables was C$0.01 Mil.
Revenue was 0 + 0 + 0 + 0 = C$0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = C$0.00 Mil.
Total Current Assets was C$1.05 Mil.
Total Assets was C$1.05 Mil.
Property, Plant and Equipment(Net PPE) was C$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was C$0.87 Mil.
Total Current Liabilities was C$1.86 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.00 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)
	=	(0.01 / 0)	/	(0.006 / 0)
	=		/
	=

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)	/	(0 / 0)
	=		/
	=

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 - (0.24 + 0) / 0.24)	/	(1 - (1.047 + 0) / 1.047)
	=	0	/	0
	=

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
	=	0	/	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 / (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)
	=	(1.656 / 0)	/	(0.874 / 0)
	=		/
	=

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 + 2.704) / 0.24)	/	((0 + 1.855) / 1.047)
	=	11.266667	/	1.771729
	=

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
	=	(-1.655 - 0.003	-	-0.631)	/	0.24
	=	-4.279167

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.

Nexia Health Technologies Beneish M-Score Related Terms

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Nexia Health Technologies (TSXV:NGH.H) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Conglomerates » Nexia Health Technologies Inc (TSXV:NGH.H) » Definitions » Beneish M-Score

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Traded in Other Exchanges

N/A

Address

15 Allstate Parkway, 6th Floor, Markham, ON, CAN, L3R5B4

Website

http://www.nexiahealth.com

Nexia Health Technologies Inc engaged in the development, sale, and support of application software and related services to customers in the healthcare industry in Canada and the United States. The company is engaged in the licensing and sale of its intellectual property. It provides Healthcare Technology solutions, which involves Cloud, Clearinghouse, eForms designer and Mobile application designer. The company generates revenue by selling monthly utilization of its application software and by selling perpetual licenses of the company's application software and related support and maintenance. The company discontinued all its operation.

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