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KULR Technology Group (KULR Technology Group) Beneish M-Score : -6.50 (As of Apr. 28, 2024)


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What is KULR Technology 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 -6.5 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

KULR' s Beneish M-Score Range Over the Past 10 Years
Min: -6.5   Med: 5.32   Max: 6.22
Current: -6.5

During the past 9 years, the highest Beneish M-Score of KULR Technology Group was 6.22. The lowest was -6.50. And the median was 5.32.


KULR Technology Group Beneish M-Score Historical Data

The historical data trend for KULR Technology 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.

* Premium members only.

KULR Technology Group Beneish M-Score Chart

KULR Technology Group Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only - - 6.22 5.32 -6.50

KULR Technology Group 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 5.32 -0.83 -1.91 -2.77 -6.50

Competitive Comparison of KULR Technology Group's Beneish M-Score

For the Electronic Components subindustry, KULR Technology 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.


KULR Technology Group's Beneish M-Score Distribution in the Hardware Industry

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

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



KULR Technology 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 KULR Technology Group 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 * 0.1733+0.528 * 1.5884+0.404 * 2.0396+0.892 * 2.4614+0.115 * 0.1343
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.4997+4.679 * -1.087261-0.327 * 1.5898
=-6.50

* 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 $0.90 Mil.
Revenue was 2.334 + 3.041 + 2.696 + 1.76 = $9.83 Mil.
Gross Profit was 0.683 + 1.337 + 1.002 + 0.643 = $3.67 Mil.
Total Current Assets was $3.90 Mil.
Total Assets was $10.86 Mil.
Property, Plant and Equipment(Net PPE) was $6.16 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.21 Mil.
Selling, General, & Admin. Expense(SGA) was $20.24 Mil.
Total Current Liabilities was $6.90 Mil.
Long-Term Debt & Capital Lease Obligation was $0.25 Mil.
Net Income was -5.193 + -5.562 + -6.335 + -6.603 = $-23.69 Mil.
Non Operating Income was -0.011 + -0.043 + 0.074 + 0.064 = $0.08 Mil.
Cash Flow from Operations was -1.072 + -1.034 + -5.1 + -4.759 = $-11.97 Mil.
Total Receivables was $2.12 Mil.
Revenue was 1.813 + 1.393 + 0.588 + 0.2 = $3.99 Mil.
Gross Profit was 1.662 + 0.461 + 0.164 + 0.078 = $2.37 Mil.
Total Current Assets was $15.74 Mil.
Total Assets was $23.63 Mil.
Property, Plant and Equipment(Net PPE) was $7.04 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.26 Mil.
Selling, General, & Admin. Expense(SGA) was $16.45 Mil.
Total Current Liabilities was $9.68 Mil.
Long-Term Debt & Capital Lease Obligation was $0.10 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)
=(0.903 / 9.831) / (2.117 / 3.994)
=0.091852 / 0.530045
=0.1733

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)
=(2.365 / 3.994) / (3.665 / 9.831)
=0.592138 / 0.3728
=1.5884

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 - (3.904 + 6.16) / 10.864) / (1 - (15.736 + 7.037) / 23.626)
=0.073638 / 0.036104
=2.0396

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
=9.831 / 3.994
=2.4614

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))
=(0.259 / (0.259 + 7.037)) / (2.214 / (2.214 + 6.16))
=0.035499 / 0.26439
=0.1343

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)
=(20.237 / 9.831) / (16.453 / 3.994)
=2.058488 / 4.119429
=0.4997

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)
=((0.25 + 6.899) / 10.864) / ((0.098 + 9.681) / 23.626)
=0.658045 / 0.413908
=1.5898

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
=(-23.693 - 0.084 - -11.965) / 10.864
=-1.087261

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.

KULR Technology Group has a M-score of -6.50 suggests that the company is unlikely to be a manipulator.


KULR Technology Group Beneish M-Score Related Terms

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KULR Technology Group (KULR Technology Group) Business Description

Traded in Other Exchanges
N/A
Address
4863 Shawline Street, San Diego, CA, USA, 92111
KULR Technology Group Inc develops and commercializes high-performance thermal management technologies for electronics, batteries, and other components. The company is focused on targeting the following applications: electric vehicles and autonomous driving systems; artificial intelligence and Cloud computing; energy storage; and 5G communication technologies. Its product portfolio includes ARA Thermal Capacitor, CRUX Cathode, HYDRA Thermal Runaway Shield, LYRA ISC Trigger Cell, URSA Fiber Thermal Interface, and VEGA Internal Short Circuit.
Executives
Michael Mo director, 10 percent owner, officer: CEO 14440 BIG BASIN WAY, #12, SARATOGA CA 95070
Timothy Ray Knowles director, officer: Chief Technical Officer C/O KT HIGH-TECH MARKETING INC., 14440 BIG BASIN WAY #12, SARATOGA CA 95070
Shawn Canter officer: Chief Financial Officer 4863 SHAWLINE STREET, SAN DIEGO CA 92111
William Quinn Walker officer: Chief Technology Officer 626 BEALS CREEK LANE, WEBSTER TX 77598
Terry Keith Cochran officer: President and COO 1999 S BASCOM AVE, SUITE 700, CAMPBELL CA 95008
Stayce D. Harris director 1999 S. BASCOM AVE., SUITE 700, CAMPBELL CA 95008
Joanna D. Massey director 1999 S. BASCOM AVE, SUITE 700, CAMPBELL CA 95008
Morio Kurosaki director 1-2-14 ICHIGAYASADOHARA, SHINJUKU-KU, TOKYO M0 162-0842
Simon P Westbrook officer: Chief Financial Officer 4920 EL CAMINO REAL, STE 100, LOS ALTOS CA 94022
George Ernest Henschke officer: Interim Prin. Fin. Off., Treas C/O KT HIGH-TECH MARKETING INC., 14440 BIG BASIN WAY #12, SARATOGA CA 95070
Michael Gerald Carpenter officer: Vice President of Engineering C/O KT HIGH-TECH MARKETING INC., 14440 BIG BASIN WAY #12, SARATOGA CA 95070
James M Cassidy director, 10 percent owner, officer: president,secretary,treasurer 215 APOLENA AVENUE, NEWPORT BEACH CA 92662
James K Mckillop director, 10 percent owner, officer: VP 9454 WILSHIRE BOULEVARD, SUITE 612, BEVERLY HILLS CA 90212