Astra Space (Astra Space) Beneish M-Score : -9.29 (As of Apr. 30, 2024)

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What is Astra Space 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 -9.29 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

ASTR' s Beneish M-Score Range Over the Past 10 Years
Min: -9.29 Med: -9.29 Max: -9.29
Current: -9.29

During the past 5 years, the highest Beneish M-Score of Astra Space was -9.29. The lowest was -9.29. And the median was -9.29.

Astra Space Beneish M-Score Historical Data

The historical data trend for Astra Space'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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Astra Space Beneish M-Score Chart

Astra Space Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

-9.29

Astra Space Quarterly Data
	Dec19	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial											-	2.55	-7.43	-4.13	-9.29

Competitive Comparison of Astra Space's Beneish M-Score

For the Aerospace & Defense subindustry, Astra Space'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.

Astra Space's Beneish M-Score Distribution in the Aerospace & Defense Industry

For the Aerospace & Defense industry and Industrials sector, Astra Space's Beneish M-Score distribution charts can be found below:

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

Astra Space 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 Astra Space 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 * 0.3634

0.528 * -4.0422

0.404 * 1.8471

0.892 * 0.4134

0.115 * 1.7832

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.2255

4.679 * -0.56528

0.327 * 3.4207

-9.29

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $1.44 Mil.
Revenue was 2.911 + 0.256 + 0.707 + 0 = $3.87 Mil.
Gross Profit was 1.719 + 0.024 + 0.319 + 0 = $2.06 Mil.
Total Current Assets was $31.45 Mil.
Total Assets was $77.42 Mil.
Property, Plant and Equipment(Net PPE) was $36.29 Mil.
Depreciation, Depletion and Amortization(DDA) was $6.32 Mil.
Selling, General, & Admin. Expense(SGA) was $52.03 Mil.
Total Current Liabilities was $131.28 Mil.
Long-Term Debt & Capital Lease Obligation was $6.06 Mil.
Net Income was -89.733 + -29.746 + -14.004 + -44.893 = $-178.38 Mil.
Non Operating Income was -56.898 + 4.611 + 17.918 + 3.025 = $-31.34 Mil.
Cash Flow from Operations was -15.714 + -18.066 + -33.489 + -35.999 = $-103.27 Mil.

Total Receivables was $9.61 Mil.
Revenue was 0 + 2.777 + 2.682 + 3.911 = $9.37 Mil.
Gross Profit was 0 + 1.706 + -14.763 + -7.103 = $-20.16 Mil.
Total Current Assets was $125.78 Mil.
Total Assets was $174.70 Mil.
Property, Plant and Equipment(Net PPE) was $37.08 Mil.
Depreciation, Depletion and Amortization(DDA) was $13.33 Mil.
Selling, General, & Admin. Expense(SGA) was $102.69 Mil.
Total Current Liabilities was $81.54 Mil.
Long-Term Debt & Capital Lease Obligation was $9.05 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)
	=	(1.444 / 3.874)	/	(9.61 / 9.37)
	=	0.372741	/	1.025614
	=	0.3634

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)
	=	(-20.16 / 9.37)	/	(2.062 / 3.874)
	=	-2.151547	/	0.532266
	=	-4.0422

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 - (31.449 + 36.285) / 77.42)	/	(1 - (125.782 + 37.084) / 174.699)
	=	0.12511	/	0.067734
	=	1.8471

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
	=	3.874	/	9.37
	=	0.4134

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))
	=	(13.328 / (13.328 + 37.084))	/	(6.316 / (6.316 + 36.285))
	=	0.264381	/	0.148259
	=	1.7832

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)
	=	(52.029 / 3.874)	/	(102.686 / 9.37)
	=	13.430305	/	10.959018
	=	1.2255

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)
	=	((6.056 + 131.276) / 77.42)	/	((9.051 + 81.542) / 174.699)
	=	1.773857	/	0.518566
	=	3.4207

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
	=	(-178.376 - -31.344	-	-103.268)	/	77.42
	=	-0.56528

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.

Astra Space has a M-score of -9.29 suggests that the company is unlikely to be a manipulator.

Astra Space Beneish M-Score Related Terms

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Astra Space (Astra Space) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Aerospace & Defense » Astra Space Inc (NAS:ASTR) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

1900 Skyhawk Street, Alameda, CA, USA, 94501

Website

https://www.astra.com

Astra Space Inc is a technology company that provides space services, including satellite launch services and other space services, based on a proprietary, vertically integrated technology platform. It offers launch services, space products, and space services to achieve its space services platform model.

Executives

Scott Stanford	director, 10 percent owner	C/O PERSONALIZED BEAUTY DISCOVERY, INC., 201 BALDWIN AVENUE, SAN MATEO CA 94401
Axel Martinez	officer: Chief Financial Officer	418 STARVIEW DRIVE, DANVILLE CA 94526
Julie A Cullivan	director	17800 N 85TH ST, SCOTTSDALE AZ 85255
Chris Kemp	director, 10 percent owner, officer: See Remarks	1900 SKYHAWK STREET, ALAMEDA CA 94501
A/npc Holdings Llc	10 percent owner	6350 COURT STREET, EAST SYRACUSE NY 13057
Michael E Lehman	director
Michele Angelique Flournoy	director	3170 FAIRVIEW PARK DRIVE, FALLS CHURCH VA 22042
Craig Mccaw	director	EAGLE RIVER INC, 2300 CARILLON POINT, KIRKLAND WA 98033
Lisa Nelson	director	1920 4TH AVENUE #1111, SEATTLE WA 98101
Advance Publications, Inc	10 percent owner	950 FINGERBOARD ROAD, STATEN ISLAND NY 10305
Benjamin Lyon	officer: See Remarks	1900 SKYHAWK STREET, ALAMEDA CA 94501
Martin Attiq	officer: Chief Business Officer	1900 SKYHAWK STREET, ALAMEDA CA 94501
Adam London	director, 10 percent owner, officer: Chief Technology Officer	1900 SKYHAWK STREET, ALAMEDA CA 94501
Sherpaventures Fund Ii Gp, Llc	10 percent owner	505 HOWARD STREET, SUITE 201, SAN FRANCISCO CA 94105
Sherpaventures Fund Ii, Lp	10 percent owner	505 HOWARD STREET, SUITE 201, SAN FRANCISCO CA 94105