Maris Tech (Maris Tech) Beneish M-Score : -1.57 (As of May. 17, 2024)

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What is Maris Tech 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.

Warning Sign:

Beneish M-Score -1.57 higher than -1.78, which implies that the company might have manipulated its financial results.

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

MTEK' s Beneish M-Score Range Over the Past 10 Years
Min: -1.57 Med: -0.19 Max: 0.39
Current: -1.57

During the past 5 years, the highest Beneish M-Score of Maris Tech was 0.39. The lowest was -1.57. And the median was -0.19.

Maris Tech Beneish M-Score Historical Data

The historical data trend for Maris Tech'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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Maris Tech Beneish M-Score Chart

Maris Tech Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

-0.19

0.39

-1.57

Maris Tech Semi-Annual Data
	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Beneish M-Score	Get a 7-Day Free Trial				-0.19	-	0.39	-	-1.57

Competitive Comparison of Maris Tech's Beneish M-Score

For the Electronic Components subindustry, Maris Tech'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.

Maris Tech's Beneish M-Score Distribution in the Hardware Industry

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

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

Maris Tech 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 Maris Tech 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 * 1.157

0.528 * 0.6539

0.404 * 1.2102

0.892 * 1.6092

0.115 * 0.2611

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.6858

4.679 * 0.102435

0.327 * 1.4014

-1.57

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $2.99 Mil.
Revenue was $4.03 Mil.
Gross Profit was $1.93 Mil.
Total Current Assets was $10.32 Mil.
Total Assets was $11.33 Mil.
Property, Plant and Equipment(Net PPE) was $0.82 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.06 Mil.
Selling, General, & Admin. Expense(SGA) was $3.80 Mil.
Total Current Liabilities was $3.06 Mil.
Long-Term Debt & Capital Lease Obligation was $0.91 Mil.
Net Income was $-2.71 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $-3.87 Mil.

Total Receivables was $1.61 Mil.
Revenue was $2.51 Mil.
Gross Profit was $0.78 Mil.
Total Current Assets was $12.25 Mil.
Total Assets was $13.36 Mil.
Property, Plant and Equipment(Net PPE) was $0.92 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.02 Mil.
Selling, General, & Admin. Expense(SGA) was $3.45 Mil.
Total Current Liabilities was $1.81 Mil.
Long-Term Debt & Capital Lease Obligation was $1.53 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)
	=	(2.99 / 4.031)	/	(1.606 / 2.505)
	=	0.741751	/	0.641118
	=	1.157

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)
	=	(0.783 / 2.505)	/	(1.927 / 4.031)
	=	0.312575	/	0.478045
	=	0.6539

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 - (10.322 + 0.817) / 11.334)	/	(1 - (12.254 + 0.92) / 13.364)
	=	0.017205	/	0.014217
	=	1.2102

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
	=	4.031	/	2.505
	=	1.6092

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))
	=	(0.017 / (0.017 + 0.92))	/	(0.061 / (0.061 + 0.817))
	=	0.018143	/	0.069476
	=	0.2611

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)
	=	(3.802 / 4.031)	/	(3.445 / 2.505)
	=	0.94319	/	1.37525
	=	0.6858

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)
	=	((0.913 + 3.058) / 11.334)	/	((1.53 + 1.811) / 13.364)
	=	0.350362	/	0.25
	=	1.4014

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
	=	(-2.71 - 0	-	-3.871)	/	11.334
	=	0.102435

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.

Maris Tech has a M-score of -1.57 signals that the company is likely to be a manipulator.

Maris Tech Beneish M-Score Related Terms

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Maris Tech (Maris Tech) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Maris Tech Ltd (NAS:MTEK) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

2 Yitzhak Modai Street, Rehovot, ISR, 7608804

Website

https://www.maris-tech.com

Maris Tech Ltd is a provider of remote video, audio, telemetry acquisition, distribution and sharing solutions and products, using high-end digital video, audio and wireless communication technologies. It designs, develops, manufactures and commercially sells miniature intelligent video and audio surveillance and communication systems, which are offered as products and solutions for the professional as well as the civilian and home security markets.