AGM Group Holdings (AGM Group Holdings) Beneish M-Score : 21.06 (As of Apr. 30, 2024)

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What is AGM Group Holdings 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.

Warning Sign:

Beneish M-Score 21.06 higher than -1.78, which implies that the company might have manipulated its financial results.

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

AGMH' s Beneish M-Score Range Over the Past 10 Years
Min: -6.85 Med: 0.23 Max: 614.38
Current: 21.06

During the past 7 years, the highest Beneish M-Score of AGM Group Holdings was 614.38. The lowest was -6.85. And the median was 0.23.

AGM Group Holdings Beneish M-Score Historical Data

The historical data trend for AGM Group Holdings'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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AGM Group Holdings Beneish M-Score Chart

AGM Group Holdings Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Beneish M-Score

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-6.85

0.23

-3.10

614.38

21.06

AGM Group Holdings Quarterly Data
	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Sep20	Dec20	Jun21	Sep21	Dec21	Jun22	Dec22	Jun23
Beneish M-Score	Get a 7-Day Free Trial											-	614.38	-	21.06	-

Competitive Comparison of AGM Group Holdings's Beneish M-Score

For the Computer Hardware subindustry, AGM Group Holdings'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.

AGM Group Holdings's Beneish M-Score Distribution in the Hardware Industry

For the Hardware industry and Technology sector, AGM Group Holdings's Beneish M-Score distribution charts can be found below:

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

AGM Group Holdings 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 AGM Group Holdings 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 * 4.6885

0.528 * 0.9351

0.404 * 36.8151

0.892 * 6.603

0.115 * 0.684

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 2.8644

4.679 * 0.233099

0.327 * 1.0594

21.06

This Year (Dec22) TTM:

Last Year (Dec21) TTM:

Total Receivables was $94.4 Mil.
Revenue was $242.4 Mil.
Gross Profit was $46.6 Mil.
Total Current Assets was $116.8 Mil.
Total Assets was $125.2 Mil.
Property, Plant and Equipment(Net PPE) was $1.2 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.3 Mil.
Selling, General, & Admin. Expense(SGA) was $30.4 Mil.
Total Current Liabilities was $94.5 Mil.
Long-Term Debt & Capital Lease Obligation was $0.2 Mil.
Net Income was $11.5 Mil.
Gross Profit was $-0.4 Mil.
Cash Flow from Operations was $-17.3 Mil.

Total Receivables was $3.0 Mil.
Revenue was $36.7 Mil.
Gross Profit was $6.6 Mil.
Total Current Assets was $87.3 Mil.
Total Assets was $88.0 Mil.
Property, Plant and Equipment(Net PPE) was $0.6 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.1 Mil.
Selling, General, & Admin. Expense(SGA) was $1.6 Mil.
Total Current Liabilities was $62.8 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 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)
	=	(94.361 / 242.396)	/	(3.048 / 36.71)
	=	0.389284	/	0.083029
	=	4.6885

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)
	=	(6.598 / 36.71)	/	(46.588 / 242.396)
	=	0.179733	/	0.192198
	=	0.9351

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 - (116.819 + 1.182) / 125.23)	/	(1 - (87.319 + 0.564) / 88.021)
	=	0.057726	/	0.001568
	=	36.8151

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
	=	242.396	/	36.71
	=	6.603

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))
	=	(0.102 / (0.102 + 0.564))	/	(0.341 / (0.341 + 1.182))
	=	0.153153	/	0.2239
	=	0.684

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)
	=	(30.395 / 242.396)	/	(1.607 / 36.71)
	=	0.125394	/	0.043776
	=	2.8644

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)
	=	((0.167 + 94.52) / 125.23)	/	((0 + 62.819) / 88.021)
	=	0.756105	/	0.713682
	=	1.0594

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
	=	(11.476 - -0.373	-	-17.342)	/	125.23
	=	0.233099

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.

AGM Group Holdings has a M-score of 21.06 signals that the company is likely to be a manipulator.

AGM Group Holdings Beneish M-Score Related Terms

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AGM Group Holdings (AGM Group Holdings) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Hardware » AGM Group Holdings Inc (NAS:AGMH) » Definitions » Beneish M-Score

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Traded in Other Exchanges

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Address

C/o Creative Consultants (Hong Kong) Limited, 185 Wanchai Road, Room 1502-3, 15th Floor, Connuaght Commercial Building, Wanchai, Hong Kong, HKG

Website

http://www.agmprime.com

AGM Group Holdings Inc is an investment holding company. The company focuses on blockchain-oriented ASIC chip design; high-end crypto miner production and fintech technology software service. It generates maximum revenue from the sale of cryptocurrency mining machines and standardized computing equipment.