Coinsilium Group (AQSE:COIN) Beneish M-Score : -1.87 (As of May. 25, 2024)

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What is Coinsilium Group 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.

Good Sign:

Beneish M-Score -1.87 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

AQSE:COIN' s Beneish M-Score Range Over the Past 10 Years
Min: -2.9 Med: -0.61 Max: 2.42
Current: -1.87

During the past 8 years, the highest Beneish M-Score of Coinsilium Group was 2.42. The lowest was -2.90. And the median was -0.61.

Coinsilium Group Beneish M-Score Historical Data

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

Coinsilium Group Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Beneish M-Score

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0.50

2.21

-1.72

-2.90

-1.87

Coinsilium Group Semi-Annual Data
	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23
Beneish M-Score	Get a 7-Day Free Trial											-	-2.90	-	-1.87	-

Competitive Comparison of Coinsilium Group's Beneish M-Score

For the Software - Application subindustry, Coinsilium Group'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.

Coinsilium Group's Beneish M-Score Distribution in the Software Industry

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

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

Coinsilium Group 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 Coinsilium Group 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 * 1.9307

0.528 * 0.9887

0.404 * 1.4957

0.892 * 0.4

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.349

4.679 * 0.022081

0.327 * 0.6762

-1.82

This Year (Dec22) TTM:

Last Year (Dec21) TTM:

Total Receivables was £0.08 Mil.
Revenue was £0.21 Mil.
Gross Profit was £0.21 Mil.
Total Current Assets was £1.80 Mil.
Total Assets was £3.94 Mil.
Property, Plant and Equipment(Net PPE) was £0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.00 Mil.
Selling, General, & Admin. Expense(SGA) was £0.91 Mil.
Total Current Liabilities was £0.15 Mil.
Long-Term Debt & Capital Lease Obligation was £0.00 Mil.
Net Income was £-2.06 Mil.
Gross Profit was £-1.36 Mil.
Cash Flow from Operations was £-0.79 Mil.

Total Receivables was £0.10 Mil.
Revenue was £0.53 Mil.
Gross Profit was £0.52 Mil.
Total Current Assets was £3.93 Mil.
Total Assets was £6.17 Mil.
Property, Plant and Equipment(Net PPE) was £0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.00 Mil.
Selling, General, & Admin. Expense(SGA) was £1.69 Mil.
Total Current Liabilities was £0.34 Mil.
Long-Term Debt & Capital Lease Obligation was £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)
	=	(0.078 / 0.212)	/	(0.101 / 0.53)
	=	0.367925	/	0.190566
	=	1.9307

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)
	=	(0.524 / 0.53)	/	(0.212 / 0.212)
	=	0.988679	/	1
	=	0.9887

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 - (1.798 + 0.002) / 3.94)	/	(1 - (3.93 + 0.002) / 6.174)
	=	0.543147	/	0.363136
	=	1.4957

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
	=	0.212	/	0.53
	=	0.4

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))
	=	(0.001 / (0.001 + 0.002))	/	(0.001 / (0.001 + 0.002))
	=	0.333333	/	0.333333
	=	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)
	=	(0.913 / 0.212)	/	(1.692 / 0.53)
	=	4.306604	/	3.192453
	=	1.349

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 + 0.145) / 3.94)	/	((0 + 0.336) / 6.174)
	=	0.036802	/	0.054422
	=	0.6762

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
	=	(-2.057 - -1.355	-	-0.789)	/	3.94
	=	0.022081

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.

Coinsilium Group has a M-score of -1.82 suggests that the company is unlikely to be a manipulator.

Coinsilium Group Beneish M-Score Related Terms

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Coinsilium Group (AQSE:COIN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Coinsilium Group Ltd (AQSE:COIN) » Definitions » Beneish M-Score

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Traded in Other Exchanges

CINGF:USA 5CT:Germany

Address

Craigmuir Chambers, P.O. Box 71, Tortola, Road Town, VGB, VG1110

Website

https://www.coinsilium.com

Coinsilium Group Ltd is engaged in investing in blockchain technologies with a focus on fintech. The company's segment includes Investing; Advisory and Corporate. It generates maximum revenue from the Investing segment. Geographically, it operates in the United Kingdom and the British Virgin Islands.