MPX International (XCNQ:MPXI) Beneish M-Score : 0.00 (As of Jun. 11, 2024)

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What is MPX International 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 MPX International's Beneish M-Score or its related term are showing as below:

During the past 4 years, the highest Beneish M-Score of MPX International was 0.00. The lowest was 0.00. And the median was 0.00.

MPX International Beneish M-Score Historical Data

The historical data trend for MPX International'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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MPX International Beneish M-Score Chart

MPX International Annual Data

Trend

Sep18

Sep19

Sep20

Sep21

Beneish M-Score

-2.45

-2.18

MPX International Quarterly Data
	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22
Beneish M-Score	Get a 7-Day Free Trial												-1.98	-1.30	-2.18	-2.98	-3.84

Competitive Comparison of MPX International's Beneish M-Score

For the Drug Manufacturers - Specialty & Generic subindustry, MPX International'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.

MPX International's Beneish M-Score Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, MPX International's Beneish M-Score distribution charts can be found below:

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

MPX International 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 MPX International 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 * 0.9826

0.528 * 1.5861

0.404 * 0.6547

0.892 * 1.1435

0.115 * 1.1622

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9116

4.679 * -0.3066

0.327 * 1.7313

-3.84

This Year (Mar22) TTM:

Last Year (Mar21) TTM:

Total Receivables was C$1.80 Mil.
Revenue was 2.02 + 1.557 + 1.338 + 1.777 = C$6.69 Mil.
Gross Profit was 1.394 + 1.144 + -0.185 + 1.541 = C$3.89 Mil.
Total Current Assets was C$8.48 Mil.
Total Assets was C$47.13 Mil.
Property, Plant and Equipment(Net PPE) was C$19.75 Mil.
Depreciation, Depletion and Amortization(DDA) was C$6.60 Mil.
Selling, General, & Admin. Expense(SGA) was C$14.05 Mil.
Total Current Liabilities was C$18.09 Mil.
Long-Term Debt & Capital Lease Obligation was C$16.98 Mil.
Net Income was -8.32 + -4.249 + -13.901 + -1.885 = C$-28.36 Mil.
Non Operating Income was -0.622 + 1.015 + -6.382 + 2.474 = C$-3.52 Mil.
Cash Flow from Operations was -3.791 + -2.052 + -0.706 + -3.84 = C$-10.39 Mil.

Total Receivables was C$1.60 Mil.
Revenue was 2.185 + 1.91 + 0.836 + 0.921 = C$5.85 Mil.
Gross Profit was 1.407 + 1.771 + 0.927 + 1.296 = C$5.40 Mil.
Total Current Assets was C$7.29 Mil.
Total Assets was C$49.70 Mil.
Property, Plant and Equipment(Net PPE) was C$11.96 Mil.
Depreciation, Depletion and Amortization(DDA) was C$4.91 Mil.
Selling, General, & Admin. Expense(SGA) was C$13.48 Mil.
Total Current Liabilities was C$9.27 Mil.
Long-Term Debt & Capital Lease Obligation was C$12.09 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)
	=	(1.8 / 6.692)	/	(1.602 / 5.852)
	=	0.268978	/	0.273753
	=	0.9826

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)
	=	(5.401 / 5.852)	/	(3.894 / 6.692)
	=	0.922932	/	0.581889
	=	1.5861

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 - (8.483 + 19.745) / 47.133)	/	(1 - (7.294 + 11.955) / 49.698)
	=	0.401099	/	0.612681
	=	0.6547

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
	=	6.692	/	5.852
	=	1.1435

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))
	=	(4.913 / (4.913 + 11.955))	/	(6.603 / (6.603 + 19.745))
	=	0.291262	/	0.250607
	=	1.1622

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)
	=	(14.05 / 6.692)	/	(13.478 / 5.852)
	=	2.099522	/	2.303144
	=	0.9116

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)
	=	((16.977 + 18.089) / 47.133)	/	((12.088 + 9.268) / 49.698)
	=	0.74398	/	0.429715
	=	1.7313

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
	=	(-28.355 - -3.515	-	-10.389)	/	47.133
	=	-0.3066

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.

MPX International has a M-score of -3.84 suggests that the company is unlikely to be a manipulator.

MPX International Beneish M-Score Related Terms

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MPX International (XCNQ:MPXI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » MPX International Corp (XCNQ:MPXI) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

5255 Yonge Street, Suite 701, Toronto, ON, CAN, M2N 6P4

Website

https://www.mpxinternationalcorp.com

MPX International Corp is a diversified cannabis company focused on developing and operating assets across the global medical and adult use and engaged in cultivating, manufacturing and marketing products that include cannabinoids as their primary active ingredient. The firm is organized into three segments: Canada, Europe/Africa, and Asia-Pacific. The Canada operating segment's principal business activities consist of production and sale of cannabis, video learning and engagement, patient counselling and referral services. The Europe/Africa operating segment's consist of the production and sale of cannabis and hemp-related products. The Asia-Pacific consist of the production and sale of cannabis. The majority of the revenue is generated in Canada.

Executives

William Scott Boyes	Director, Senior Officer
Randall Glenn Stafford	Director

MPX International (XCNQ:MPXI) Headlines

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