Crossroads Impact Beneish M-Score Historical Data
The historical data trend for Crossroads Impact'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.
Crossroads Impact Beneish M-Score Chart
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Crossroads Impact Annual Data
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Oct11 |
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Oct21 |
| Beneish M-Score |
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5.45 |
12.75 |
142.23 |
-2.49 |
21.15 |
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Crossroads Impact Quarterly Data
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Apr17 |
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Jul22 |
| Beneish M-Score |
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22.60 |
21.15 |
22.73 |
-18.83 |
9.42 |
Competitive Comparison of Crossroads Impact's Beneish M-Score
For the Real Estate Services subindustry, Crossroads Impact'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.
Crossroads Impact's Beneish M-Score Distribution in the Real Estate Industry
For the Real Estate industry and Real Estate sector, Crossroads Impact's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Crossroads Impact's Beneish M-Score falls into.
Crossroads Impact 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 Crossroads Impact for today is based on a combination of the following eight different indices:
| M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
| = | -4.84 | + | 0.92 * 463.8105 | + | 0.528 * 2.2025 | + | 0.404 * 0.9743 | + | 0.892 * 0.0546 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 2.467 | + | 4.679 * -2.774365 | - | 0.327 * 0.9447 |
| = | 409.87 |
* 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.
| This Year (Jul22) TTM: | Last Year (Jul21) TTM: |
Total Receivables was $9.94 Mil.
Revenue was 13.596 + 16.615 + 63.096 + -39.852 = $53.46 Mil.
Gross Profit was 8.417 + 9.289 + 55.522 + -49.7 = $23.53 Mil.
Total Current Assets was $189.08 Mil.
Total Assets was $1,707.06 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 $42.26 Mil.
Total Current Liabilities was $262.40 Mil.
Long-Term Debt & Capital Lease Obligation was $1,335.67 Mil.
Net Income was 2.076 + 3.891 + 40.773 + -54.983 = $-8.24 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was 186.327 + 208.409 + 1012.403 + 3320.612 = $4,727.75 Mil.
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Total Receivables was $0.39 Mil.
Revenue was 486.614 + 476.542 + 7.319 + 9.18 = $979.66 Mil.
Gross Profit was 475.646 + 468.784 + 2.302 + 2.953 = $949.69 Mil.
Total Current Assets was $602.71 Mil.
Total Assets was $6,900.42 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 $313.96 Mil.
Total Current Liabilities was $305.98 Mil.
Long-Term Debt & Capital Lease Obligation was $6,532.27 Mil.
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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) |
| = | (9.942 / 53.455) | / | (0.393 / 979.655) |
| = | 0.185988 | / | 0.000401 |
| | = | 463.8105 |
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) |
| = | (949.685 / 979.655) | / | (23.528 / 53.455) |
| = | 0.969408 | / | 0.440146 |
| | = | 2.2025 |
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 - (189.084 + 0) / 1707.055) | / | (1 - (602.705 + 0) / 6900.419) |
| = | 0.889234 | / | 0.912657 |
| | = | 0.9743 |
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 |
| = | 53.455 | / | 979.655 |
| | = | 0.0546 |
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 / (0 + 0)) | / | (0 / (0 + 0)) |
| = | | / | |
| | = | 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) |
| = | (42.264 / 53.455) | / | (313.963 / 979.655) |
| = | 0.790646 | / | 0.320483 |
| | = | 2.467 |
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) |
| = | ((1335.667 + 262.399) / 1707.055) | / | ((6532.274 + 305.984) / 6900.419) |
| = | 0.936154 | / | 0.990992 |
| | = | 0.9447 |
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 |
| = | (-8.243 - 0 | - | 4727.751) | / | 1707.055 |
| | = | -2.774365 |
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.
Crossroads Impact has a M-score of 409.87 signals that the company is likely to be a manipulator.
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