Victory Oilfield Tech (Victory Oilfield Tech) Beneish M-Score : 0.00 (As of Jun. 10, 2024)

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What is Victory Oilfield Tech 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 Victory Oilfield Tech's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Victory Oilfield Tech was -3.54. The lowest was -12.37. And the median was -7.63.

Victory Oilfield Tech Beneish M-Score Historical Data

The historical data trend for Victory Oilfield Tech'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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Victory Oilfield Tech Beneish M-Score Chart

Victory Oilfield Tech Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-12.37

-4.99

-3.54

Victory Oilfield Tech Quarterly Data
	Mar19	Jun19	Sep19	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															-	23.24	-	-	-

Competitive Comparison of Victory Oilfield Tech's Beneish M-Score

For the Oil & Gas Equipment & Services subindustry, Victory Oilfield Tech'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.

Victory Oilfield Tech's Beneish M-Score Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Victory Oilfield Tech's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Victory Oilfield Tech's Beneish M-Score falls into.

Victory Oilfield Tech 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 Victory Oilfield Tech 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 $0.98 Mil.
Revenue was -1.204 + 0.351 + 0.495 + 0.358 = $0.00 Mil.
Gross Profit was -0.65 + 0.213 + 0.254 + 0.182 = $-0.00 Mil.
Total Current Assets was $1.35 Mil.
Total Assets was $1.64 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.11 Mil.
Selling, General, & Admin. Expense(SGA) was $0.80 Mil.
Total Current Liabilities was $5.57 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -0.15 + -0.28 + 0.017 + -0.126 = $-0.54 Mil.
Non Operating Income was 0.152 + 0.001 + 0.096 + 0 = $0.25 Mil.
Cash Flow from Operations was 0.027 + -0.067 + -0.023 + -0.085 = $-0.15 Mil.

Total Receivables was $0.16 Mil.
Revenue was -1.218 + 0.328 + 0.558 + 0.333 = $0.00 Mil.
Gross Profit was -0.517 + 0.09 + 0.265 + 0.162 = $-0.00 Mil.
Total Current Assets was $0.29 Mil.
Total Assets was $0.69 Mil.
Property, Plant and Equipment(Net PPE) was $0.16 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.17 Mil.
Selling, General, & Admin. Expense(SGA) was $0.44 Mil.
Total Current Liabilities was $4.14 Mil.
Long-Term Debt & Capital Lease Obligation was $0.26 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)
	=	(0.983 / 0)	/	(0.163 / 0.001)
	=		/	163
	=

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 / 0.001)	/	(-0.001 / 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 - (1.349 + 0) / 1.638)	/	(1 - (0.29 + 0.162) / 0.693)
	=	0.176435	/	0.347763
	=

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	/	0.001
	=

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))
	=	(0.169 / (0.169 + 0.162))	/	(0.106 / (0.106 + 0))
	=	0.510574	/	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)
	=	(0.803 / 0)	/	(0.438 / 0.001)
	=		/	438
	=

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 + 5.566) / 1.638)	/	((0.262 + 4.136) / 0.693)
	=	3.398046	/	6.34632
	=

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
	=	(-0.539 - 0.249	-	-0.148)	/	1.638
	=	-0.39072

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.

Victory Oilfield Tech Beneish M-Score Related Terms

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Victory Oilfield Tech (Victory Oilfield Tech) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Victory Oilfield Tech Inc (OTCPK:VYEY) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

3355 Bee Caves Road, Suite 608, Austin, TX, USA, 78746

Website

https://www.vyey.com

Victory Oilfield Tech Inc is an oilfield energy-tech products company focused on improving well performance and extending the lifespan of the industry's most sophisticated and expensive equipment. The company's products include solutions for drill-pipe, production tubing, and radio frequency identification (RFID) enclosures. The company's only reportable segment is Hardband Services. Hardband Services provides various hardbanding solutions to oilfield operators for drill pipe, weight pipe, tubing, and drill collars.

Executives

Armacor Victory Ventures Llc	10 percent owner	26497 RANCHO PARKWAY SOUTH, DANA POINT CA 92630
Eric Eilersten	director	C/O VICTORY ENERGY CORPORATION, 3355 BEE CAVES ROAD, SUITE 608, AUSTIN TX 78746
Kevin Deleon	director
Ricardo A Salas	director
Visionary Private Equity Group I, Lp	10 percent owner	1325 W SUNSHINE #162, SPRINGFIELD MO 65807
Michael Cosby	10 percent owner	901 E. ST. LOUIS STREET, STE 1800, SPRINGFIELD MO 65806
Visionary Pe Gp I, Llc	10 percent owner	1325 W. SUNSHINE ST., NO. 162, SPRINGFIELD MO 65807
Smith Fred James Jr	officer: Chief Financial Officer	3355 BEE CAVES RD, SUITE 608, AUSTIN TX 78746
Mark Wendell Biggers	officer: CHIEF FINANCIAL OFFICER	3355 BBEE CAVES RD, SUITE 608, AUSTIN TX 78746
Kenneth E Hill	director, officer: CHIEF OPERATIONS OFFICER	20341 IRVINE AVENUE, #D-6, NEWPORT BEACH X1 92660
Lindsey Stanley L Jr	officer: VP EXPLORATION & DEVELOPMENT	20341 IRVINE AVENUE, #D-6, IRVINE CA 92660
Ronald Zamber	director	20341 IRVINE AVENUE, #D-6, NEWPORT BEACH CA 92660
Robert W Grenley	director	20341 IRVINE AVENUE, #D-6, NEWPORT BEACH CA 92660
Robert Miranda	officer: Chief Executive Officer	2801 W. COAST HIGHWAY, SUITE 370, NEWPORT BEACH CA 92663
Edgar Trotter	director	20341 IRVINE AVENUE, #D-6, NEWPORT BEACH CA 92660