Revett Mining Co (FRA:RV2) Beneish M-Score : 0.00 (As of Jun. 02, 2024)

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What is Revett Mining Co 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 Revett Mining Co's Beneish M-Score or its related term are showing as below:

During the past 11 years, the highest Beneish M-Score of Revett Mining Co was 0.00. The lowest was 0.00. And the median was 0.00.

Revett Mining Co Beneish M-Score Historical Data

The historical data trend for Revett Mining Co'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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Revett Mining Co Beneish M-Score Chart

Revett Mining Co Annual Data

Trend

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Beneish M-Score

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-1.73

-2.71

-3.44

2,220.06

-14.40

Revett Mining Co Quarterly Data
	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15
Beneish M-Score	Get a 7-Day Free Trial															3,305.51	79,057.49	-56.35	-14.40	40.77

Competitive Comparison of Revett Mining Co's Beneish M-Score

For the Other Industrial Metals & Mining subindustry, Revett Mining Co'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.

Revett Mining Co's Beneish M-Score Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Revett Mining Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Revett Mining Co's Beneish M-Score falls into.

Revett Mining Co 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 Revett Mining Co 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 (Mar15) TTM:

Last Year (Mar14) TTM:

Total Receivables was €0.25 Mil.
Revenue was 2.096 + 0 + 0 + 0 = €2.10 Mil.
Gross Profit was -0.364 + -0.137 + -0.272 + 0 = €-0.77 Mil.
Total Current Assets was €4.07 Mil.
Total Assets was €25.86 Mil.
Property, Plant and Equipment(Net PPE) was €15.06 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.12 Mil.
Selling, General, & Admin. Expense(SGA) was €5.68 Mil.
Total Current Liabilities was €4.83 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 Mil.
Net Income was -2.334 + -46.554 + -1.592 + -1.203 = €-51.68 Mil.
Non Operating Income was 0 + 0 + 0 + -0.007 = €-0.01 Mil.
Cash Flow from Operations was -1.611 + -2.452 + -1.251 + -1.749 = €-7.06 Mil.

Total Receivables was €1.36 Mil.
Revenue was 0.004 + 0.002 + -0.109 + 0 = €-0.10 Mil.
Gross Profit was 0.004 + -0.214 + -0.441 + 0 = €-0.65 Mil.
Total Current Assets was €11.23 Mil.
Total Assets was €64.94 Mil.
Property, Plant and Equipment(Net PPE) was €48.45 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.02 Mil.
Selling, General, & Admin. Expense(SGA) was €9.32 Mil.
Total Current Liabilities was €2.69 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)
	=	(0.248 / 2.096)	/	(1.363 / -0.103)
	=	0.118321	/
	=

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)
	=	(-0.651 / -0.103)	/	(-0.773 / 2.096)
	=		/	-0.368798
	=

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 - (4.069 + 15.064) / 25.864)	/	(1 - (11.229 + 48.449) / 64.942)
	=	0.260246	/	0.081057
	=

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
	=	2.096	/	-0.103
	=

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))
	=	(0.022 / (0.022 + 48.449))	/	(0.122 / (0.122 + 15.064))
	=	0.000454	/	0.008034
	=

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)
	=	(5.684 / 2.096)	/	(9.321 / -0.103)
	=	2.711832	/
	=

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 + 4.832) / 25.864)	/	((0 + 2.687) / 64.942)
	=	0.186823	/	0.041375
	=

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
	=	(-51.683 - -0.007	-	-7.063)	/	25.864
	=	-1.724907

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.

Revett Mining Co Beneish M-Score Related Terms

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Revett Mining Co (FRA:RV2) Business Description

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Address

Website

http://www.revettmining.com

Revett Mining Co Inc formerly Revett Minerals Inc., was incorporated in August 2004. The Company is a silver-copper producer. It owns and operates the producing Troy Mine and the development-stage Rock Creek project; both properties are located in northwestern Montana. Its mining properties are Troy and Rock Creek. Troy an is underground silver and copper mine located in Lincoln County, Montana, approximately fifteen miles south of the town of Troy. Rock Creek is a large exploration-stage silver and copper property located in Sanders County, Montana, approximately five miles northeast of Noxon, Montana. The mine operation comprises 24 patented lode-mining claims, 510 unpatented lode-mining claims, approximately 850 acres of fee land and approximately 394 acres of patented claim land. The Company also owns two unpatented claim groups in nearby areas of Sanders County, the Vermillion River and the Sims Creek properties, which comprise approximately 1,660 acres and are located approximately 25 miles southeast of Rock Creek. Limited drilling was conducted by the previous owner of the Vermillion River claim group. Additionally, it also owns approximately 673 acres of fee land that will be used for mitigation as the Rock Creek project is developed. The Company is subject to a variety of federal, state and local statutes, rules and regulations designed to protect the quality of the air and water, and threatened or endangered species in the vicinity of its mining operations.

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