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Greenwave Technology Solutions (Greenwave Technology Solutions) Beneish M-Score : -2.75 (As of May. 14, 2024)


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What is Greenwave Technology Solutions 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 -2.75 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

GWAV' s Beneish M-Score Range Over the Past 10 Years
Min: -10272.6   Med: -51.53   Max: -2.75
Current: -2.75

During the past 11 years, the highest Beneish M-Score of Greenwave Technology Solutions was -2.75. The lowest was -10272.60. And the median was -51.53.


Greenwave Technology Solutions Beneish M-Score Historical Data

The historical data trend for Greenwave Technology Solutions'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.

* Premium members only.

Greenwave Technology Solutions Beneish M-Score Chart

Greenwave Technology Solutions Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -10,272.60 - - -4.00 -2.75

Greenwave Technology Solutions Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -4.00 -4.43 -2.62 -4.88 -2.75

Competitive Comparison of Greenwave Technology Solutions's Beneish M-Score

For the Waste Management subindustry, Greenwave Technology Solutions'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.


Greenwave Technology Solutions's Beneish M-Score Distribution in the Waste Management Industry

For the Waste Management industry and Industrials sector, Greenwave Technology Solutions's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Greenwave Technology Solutions's Beneish M-Score falls into.



Greenwave Technology Solutions 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 Greenwave Technology Solutions 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 * 2.8622+0.528 * 0.9016+0.404 * 0.7788+0.892 * 1.0497+0.115 * 1.1353
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0723+4.679 * -0.352473-0.327 * 1.7392
=-2.75

* 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 (Dec23) TTM:Last Year (Dec22) TTM:
Total Receivables was $0.65 Mil.
Revenue was 9.026 + 8.182 + 9.416 + 9.043 = $35.67 Mil.
Gross Profit was 3.527 + 2.931 + 3.299 + 4.727 = $14.48 Mil.
Total Current Assets was $2.69 Mil.
Total Assets was $46.41 Mil.
Property, Plant and Equipment(Net PPE) was $23.80 Mil.
Depreciation, Depletion and Amortization(DDA) was $7.46 Mil.
Selling, General, & Admin. Expense(SGA) was $15.07 Mil.
Total Current Liabilities was $23.27 Mil.
Long-Term Debt & Capital Lease Obligation was $27.60 Mil.
Net Income was -4.153 + -16.492 + -2.265 + -4.026 = $-26.94 Mil.
Non Operating Income was -0.18 + -9.356 + 0.717 + 0.075 = $-8.74 Mil.
Cash Flow from Operations was 0.754 + -3.821 + 1.438 + -0.204 = $-1.83 Mil.
Total Receivables was $0.22 Mil.
Revenue was 6.006 + 7.347 + 10.704 + 9.921 = $33.98 Mil.
Gross Profit was 1.626 + 2.485 + 4.066 + 4.264 = $12.44 Mil.
Total Current Assets was $1.24 Mil.
Total Assets was $41.47 Mil.
Property, Plant and Equipment(Net PPE) was $17.37 Mil.
Depreciation, Depletion and Amortization(DDA) was $6.45 Mil.
Selling, General, & Admin. Expense(SGA) was $13.38 Mil.
Total Current Liabilities was $19.01 Mil.
Long-Term Debt & Capital Lease Obligation was $7.12 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)
=(0.646 / 35.667) / (0.215 / 33.978)
=0.018112 / 0.006328
=2.8622

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)
=(12.441 / 33.978) / (14.484 / 35.667)
=0.366149 / 0.40609
=0.9016

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 - (2.69 + 23.798) / 46.412) / (1 - (1.24 + 17.371) / 41.468)
=0.429286 / 0.551196
=0.7788

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
=35.667 / 33.978
=1.0497

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))
=(6.453 / (6.453 + 17.371)) / (7.457 / (7.457 + 23.798))
=0.270861 / 0.238586
=1.1353

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)
=(15.065 / 35.667) / (13.384 / 33.978)
=0.422379 / 0.393902
=1.0723

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)
=((27.597 + 23.269) / 46.412) / ((7.118 + 19.013) / 41.468)
=1.095967 / 0.630149
=1.7392

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
=(-26.936 - -8.744 - -1.833) / 46.412
=-0.352473

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.

Greenwave Technology Solutions has a M-score of -2.75 suggests that the company is unlikely to be a manipulator.


Greenwave Technology Solutions Beneish M-Score Related Terms

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Greenwave Technology Solutions (Greenwave Technology Solutions) Business Description

Traded in Other Exchanges
N/A
Address
4016 Raintree Road, Suite 300, Chesapeake, VA, USA, 23321
Greenwave Technology Solutions Inc, through its subsidiary, is an operator of several metal recycling facilities in Virginia and North Carolina. At these facilities, the company is involved in collecting, classifying, and processing raw scrap metal (ferrous and nonferrous) for recycling. The company's products are selling ferrous metal, which is used in the recycling and production of finished steel. It is categorized into heavy melting steel, plate and structural, and shredded scrap. and it also processes nonferrous metals such as aluminum, copper, stainless steel, nickel, brass, titanium, alloys, and mixed metal products.
Executives
Jason T Adelman director 900 PARK AVENUE, APARTMENT 15A, NEW YORK NY 10021
Henry Iii Sicignano director 8201 MAIN STREET, SUITE 6, WILLIAMSVILLE NY 14221
Danny Meeks director, other: Chairman of the BOD 1560 BROADWAY, SUITE 17-105, DENVER CO 80202
Ashley Elizabeth Sickles officer: Chief Financial Officer 531 FOXGATE QUARTER, CHESAPEAKE VA 23322
John Bryan Plumlee director 277 SUBURBAN DRIVE, SUFFOLK VA 23434
Howard Jordan officer: Chief Financial Officer 277 SUBURBAN DRIVE, SUFFOLK VA 23434
Cheryl Elizabeth Lanthorn director 277 SUBURBAN DRIVE, SUFFOLK VA 23434
John D. Wood director 520 BUSHNELL DRIVE, VIRGINIA BEACH VA 23451
Isaac Dietrich director, officer: Chief Executive Officer 1624 MARKET STREET, SUITE 201, DENVER CO 80202
Charles Blum director 1505 UPLAND HILLS DRIVE NORTH, UPLAND CA 91784
Jesus Quintero officer: Chief Financial Officer 16860 SOUTHWEST 1ST STREET, PEMBROKE PINES FL 33027
Graham Farrar director 2420 17TH STREET, OFFICE 3118, DENVER CO 80202
Cecil Bond Kyte director 5125 LANKERSHIM BOULEVARD, NORTH HOLLYWOOD CA 91601
Scott C Kveton officer: Chief Executive Officer 1624 MARKET STREET, SUITE 201, DENVER CO 80202
Osborn Steven Lee Ii officer: Chief Technology Officer 761 SE 65TH PL, HILLSBORO OR 97123