Fingerprint Cards AB Beneish M-Score Historical Data
The historical data trend for Fingerprint Cards AB'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.
Fingerprint Cards AB Beneish M-Score Chart
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Fingerprint Cards AB Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-3.39 |
-4.05 |
-2.48 |
-3.67 |
-3.32 |
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Fingerprint Cards AB Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-4.27 |
-4.08 |
-4.66 |
-3.32 |
-3.19 |
Competitive Comparison of Fingerprint Cards AB's Beneish M-Score
For the Scientific & Technical Instruments subindustry, Fingerprint Cards AB'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.
Fingerprint Cards AB's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Fingerprint Cards AB's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Fingerprint Cards AB's Beneish M-Score falls into.
Fingerprint Cards AB 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 Fingerprint Cards AB 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 * 0.8675 | + | 0.528 * 1.5894 | + | 0.404 * 1.3153 | + | 0.892 * 1.0828 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9329 | + | 4.679 * -0.245305 | - | 0.327 * 0.8771 |
| = | -3.19 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was kr130.1 Mil.
Revenue was 146.4 + 200.3 + 184.8 + 203.3 = kr734.8 Mil.
Gross Profit was 16.2 + 19.1 + 23.6 + 26.6 = kr85.5 Mil.
Total Current Assets was kr317.0 Mil.
Total Assets was kr1,017.1 Mil.
Property, Plant and Equipment(Net PPE) was kr15.6 Mil.
Depreciation, Depletion and Amortization(DDA) was kr0.0 Mil.
Selling, General, & Admin. Expense(SGA) was kr288.3 Mil.
Total Current Liabilities was kr286.1 Mil.
Long-Term Debt & Capital Lease Obligation was kr66.8 Mil.
Net Income was -85.9 + -119.7 + -73.8 + -76.2 = kr-355.6 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = kr0.0 Mil.
Cash Flow from Operations was -60.1 + -60.4 + -38 + 52.4 = kr-106.1 Mil.
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Total Receivables was kr138.5 Mil.
Revenue was 117 + 190.3 + 143.2 + 228.1 = kr678.6 Mil.
Gross Profit was 20.3 + 16.8 + 17.5 + 70.9 = kr125.5 Mil.
Total Current Assets was kr623.4 Mil.
Total Assets was kr1,329.4 Mil.
Property, Plant and Equipment(Net PPE) was kr25.8 Mil.
Depreciation, Depletion and Amortization(DDA) was kr0.0 Mil.
Selling, General, & Admin. Expense(SGA) was kr285.4 Mil.
Total Current Liabilities was kr220.5 Mil.
Long-Term Debt & Capital Lease Obligation was kr305.4 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) |
| = | (130.1 / 734.8) | / | (138.5 / 678.6) |
| = | 0.177055 | / | 0.204097 |
| | = | 0.8675 |
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) |
| = | (125.5 / 678.6) | / | (85.5 / 734.8) |
| = | 0.18494 | / | 0.116358 |
| | = | 1.5894 |
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 - (317 + 15.6) / 1017.1) | / | (1 - (623.4 + 25.8) / 1329.4) |
| = | 0.672992 | / | 0.511659 |
| | = | 1.3153 |
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 |
| = | 734.8 | / | 678.6 |
| | = | 1.0828 |
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 + 25.8)) | / | (0 / (0 + 15.6)) |
| = | 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) |
| = | (288.3 / 734.8) | / | (285.4 / 678.6) |
| = | 0.392352 | / | 0.420572 |
| | = | 0.9329 |
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) |
| = | ((66.8 + 286.1) / 1017.1) | / | ((305.4 + 220.5) / 1329.4) |
| = | 0.346967 | / | 0.395592 |
| | = | 0.8771 |
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 |
| = | (-355.6 - 0 | - | -106.1) | / | 1017.1 |
| | = | -0.245305 |
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.
Fingerprint Cards AB has a M-score of -3.19 suggests that the company is unlikely to be a manipulator.
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