Safe & Green Holdings (Safe & Green Holdings) Beneish M-Score : -9.28 (As of May. 05, 2024)

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What is Safe & Green Holdings 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 -9.28 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Safe & Green Holdings's Beneish M-Score or its related term are showing as below:

SGBX' s Beneish M-Score Range Over the Past 10 Years
Min: -40.93 Med: -2.95 Max: 336.54
Current: -9.28

During the past 13 years, the highest Beneish M-Score of Safe & Green Holdings was 336.54. The lowest was -40.93. And the median was -2.95.

Safe & Green Holdings Beneish M-Score Historical Data

The historical data trend for Safe & Green Holdings'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.

Safe & Green Holdings Beneish M-Score Chart

Safe & Green Holdings Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Beneish M-Score

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-2.59

-3.86

1.06

0.41

-3.99

Safe & Green Holdings Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23
Beneish M-Score	Get a 7-Day Free Trial															-3.74	-3.99	-1.69	-27.97	-9.28

Competitive Comparison of Safe & Green Holdings's Beneish M-Score

For the Metal Fabrication subindustry, Safe & Green Holdings'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.

Safe & Green Holdings's Beneish M-Score Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Safe & Green Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Safe & Green Holdings's Beneish M-Score falls into.

Safe & Green Holdings 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 Safe & Green Holdings 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 * 0.683

0.528 * -5.2773

0.404 * 1.1248

0.892 * 0.6495

0.115 * 0.6066

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 2.6389

4.679 * -0.484448

0.327 * 2.0219

-9.28

This Year (Sep23) TTM:

Last Year (Sep22) TTM:

Total Receivables was $0.76 Mil.
Revenue was 3.965 + 5.097 + 5.504 + 4.104 = $18.67 Mil.
Gross Profit was -0.536 + 0.034 + -0.069 + 0.161 = $-0.41 Mil.
Total Current Assets was $7.10 Mil.
Total Assets was $25.33 Mil.
Property, Plant and Equipment(Net PPE) was $9.71 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.17 Mil.
Selling, General, & Admin. Expense(SGA) was $15.25 Mil.
Total Current Liabilities was $15.68 Mil.
Long-Term Debt & Capital Lease Obligation was $3.23 Mil.
Net Income was -3.608 + -5.556 + -3.519 + -3.733 = $-16.42 Mil.
Non Operating Income was 0.102 + 0.57 + 0.019 + -0.085 = $0.61 Mil.
Cash Flow from Operations was -1.633 + -1.66 + -1.379 + -0.077 = $-4.75 Mil.

Total Receivables was $1.71 Mil.
Revenue was 4.13 + 7.555 + 8.605 + 8.453 = $28.74 Mil.
Gross Profit was -0.165 + 0.772 + 2.486 + 0.238 = $3.33 Mil.
Total Current Assets was $11.87 Mil.
Total Assets was $28.96 Mil.
Property, Plant and Equipment(Net PPE) was $8.42 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.59 Mil.
Selling, General, & Admin. Expense(SGA) was $8.90 Mil.
Total Current Liabilities was $7.75 Mil.
Long-Term Debt & Capital Lease Obligation was $2.95 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)
	=	(0.76 / 18.67)	/	(1.713 / 28.743)
	=	0.040707	/	0.059597
	=	0.683

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)
	=	(3.331 / 28.743)	/	(-0.41 / 18.67)
	=	0.115889	/	-0.02196
	=	-5.2773

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 - (7.102 + 9.709) / 25.334)	/	(1 - (11.872 + 8.424) / 28.957)
	=	0.336425	/	0.299099
	=	1.1248

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
	=	18.67	/	28.743
	=	0.6495

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))
	=	(0.586 / (0.586 + 8.424))	/	(1.166 / (1.166 + 9.709))
	=	0.065039	/	0.107218
	=	0.6066

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)
	=	(15.254 / 18.67)	/	(8.899 / 28.743)
	=	0.817033	/	0.309606
	=	2.6389

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)
	=	((3.234 + 15.683) / 25.334)	/	((2.945 + 7.749) / 28.957)
	=	0.746704	/	0.369306
	=	2.0219

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
	=	(-16.416 - 0.606	-	-4.749)	/	25.334
	=	-0.484448

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.

Safe & Green Holdings has a M-score of -9.28 suggests that the company is unlikely to be a manipulator.

Safe & Green Holdings Beneish M-Score Related Terms

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Safe & Green Holdings (Safe & Green Holdings) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Safe & Green Holdings Corp (NAS:SGBX) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

90S1:Germany

Address

990 Biscayne Boulevard, No. 501, Office 12, Miami, FL, USA, 33132

Website

https://www.safeandgreenholdings.com

Safe & Green Holdings Corp is a modular solutions company. The company currently provides modules made out of both code-engineered cargo shipping containers and wood for use as both permanent or temporary structures for residential housing use and commercial use, including for health care facilities. It operates in four segments: construction; medical; real estate development; and environmental. The company generates the majority of its revenue from the Construction segment which designs and constructs modular structures built in their factories using raw materials that are Made-in-America.

Executives

Thomas Meharey	director	990 BISCAYNE BLVD., SUITE 501, MIAMI FL 33132
Jill Ellen Anderson	director	990 BISCAYNE BLVD., SUITE 501, MIAMI FL 33132
Vanessa Villaverde	director	990 BISCAYNE BLVD., SUITE 501, MIAMI FL 33132
Patricia Kaelin	officer: Chief Financial Officer	990 BISCAYNE, #501, OFFICE 12, MIAMI FL 33132
Elizabeth Cormier-may	director	5011 GATE PARKWAY, BUILDING 100, JACKSONVILLE FL 32256
Shafron E. Hawkins	director	5011 GATE PARKWAY, BUILDING 100, JACKSONVILLE FL 32256
John William Shaw	10 percent owner	1005 E. LAS TUNAS DR., #116, SAN GABRIEL CA 91776
Gerald Anthony Sheeran	officer: Acting Chief Financial Officer	C/O SG BLOCKS, INC., 195 MONTAGUE STREET, 14TH FLOOR, BROOKLYN NY 11201
Margaret Coleman	director	195 MONATGUE STREET, 14TH FLOOR, 14TH FLOOR, BROOKLYN NY 11201
Yaniv Blumenfeld	director	C/O SG BLOCKS, INC., 195 MONTAGUE STREET, 14TH FLOOR, BROOKLYN NY 11201
David Roberto Villarreal	director	17 STATE STREET, 19TH FLOOR, NEW YORK NY 10004
Joseph Safina	director	1320 SEMINOLE DRIVE, FORT LAUDERDALE FL 33304
William Jeffrey Rogers	officer: Chief Operating Officer	17 STATE STREET, 19TH FLOOR, NEW YORK NY 10004
Mahesh S Shetty	director, officer: CFO	429 MEMORY LANE, MARSHALL TX 75672
Swets Larry G Jr	10 percent owner	105 S. MAPLE ST., ITASCA IL 60143