Wildpack Beverage (TSXV:CANS) Beneish M-Score : -2.54 (As of May. 15, 2024)

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What is Wildpack Beverage 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 -2.54 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSXV:CANS' s Beneish M-Score Range Over the Past 10 Years
Min: -5.57 Med: -5.57 Max: -2.54
Current: -2.54

During the past 3 years, the highest Beneish M-Score of Wildpack Beverage was -2.54. The lowest was -5.57. And the median was -5.57.

Wildpack Beverage Beneish M-Score Historical Data

The historical data trend for Wildpack Beverage'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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Wildpack Beverage Beneish M-Score Chart

Wildpack Beverage Annual Data

Trend

Dec21

Dec22

Dec23

Beneish M-Score

-5.57

-2.54

Wildpack Beverage Quarterly Data
	Mar20	Jun20	Sep20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial										-5.57	-5.30	-4.29	-3.68	-2.54

Competitive Comparison of Wildpack Beverage's Beneish M-Score

For the Specialty Business Services subindustry, Wildpack Beverage'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.

Wildpack Beverage's Beneish M-Score Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, Wildpack Beverage's Beneish M-Score distribution charts can be found below:

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

Wildpack Beverage 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 Wildpack Beverage 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 * 1.6625

0.528 * -0.7449

0.404 * 0.7949

0.892 * 1.2383

0.115 * 1.135

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.6427

4.679 * 0.027075

0.327 * 1.2626

-2.54

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was C$15.21 Mil.
Revenue was 0 + 19.993 + 20.169 + 17.258 = C$57.42 Mil.
Gross Profit was 0 + 1.69 + 3.337 + 0.843 = C$5.87 Mil.
Total Current Assets was C$21.54 Mil.
Total Assets was C$72.36 Mil.
Property, Plant and Equipment(Net PPE) was C$23.19 Mil.
Depreciation, Depletion and Amortization(DDA) was C$8.29 Mil.
Selling, General, & Admin. Expense(SGA) was C$14.92 Mil.
Total Current Liabilities was C$95.03 Mil.
Long-Term Debt & Capital Lease Obligation was C$10.32 Mil.
Net Income was 0 + -8.365 + -7.076 + -7.558 = C$-23.00 Mil.
Non Operating Income was 0 + -0.476 + -0.101 + -0.428 = C$-1.01 Mil.
Cash Flow from Operations was -0.931 + -5.605 + -18.042 + 0.625 = C$-23.95 Mil.

Total Receivables was C$7.39 Mil.
Revenue was 13.263 + 10.899 + 11.41 + 10.798 = C$46.37 Mil.
Gross Profit was -3.429 + -0.66 + 0.512 + 0.046 = C$-3.53 Mil.
Total Current Assets was C$16.35 Mil.
Total Assets was C$72.96 Mil.
Property, Plant and Equipment(Net PPE) was C$21.57 Mil.
Depreciation, Depletion and Amortization(DDA) was C$9.19 Mil.
Selling, General, & Admin. Expense(SGA) was C$18.74 Mil.
Total Current Liabilities was C$37.40 Mil.
Long-Term Debt & Capital Lease Obligation was C$46.73 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)
	=	(15.214 / 57.42)	/	(7.39 / 46.37)
	=	0.26496	/	0.15937
	=	1.6625

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)
	=	(-3.531 / 46.37)	/	(5.87 / 57.42)
	=	-0.076148	/	0.102229
	=	-0.7449

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 - (21.539 + 23.192) / 72.355)	/	(1 - (16.347 + 21.57) / 72.956)
	=	0.381784	/	0.480276
	=	0.7949

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
	=	57.42	/	46.37
	=	1.2383

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))
	=	(9.194 / (9.194 + 21.57))	/	(8.289 / (8.289 + 23.192))
	=	0.298856	/	0.263302
	=	1.135

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)
	=	(14.918 / 57.42)	/	(18.744 / 46.37)
	=	0.259805	/	0.404227
	=	0.6427

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)
	=	((10.321 + 95.027) / 72.355)	/	((46.727 + 37.401) / 72.956)
	=	1.455988	/	1.153133
	=	1.2626

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
	=	(-22.999 - -1.005	-	-23.953)	/	72.355
	=	0.027075

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.

Wildpack Beverage has a M-score of -2.54 suggests that the company is unlikely to be a manipulator.

Wildpack Beverage Beneish M-Score Related Terms

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Wildpack Beverage (TSXV:CANS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » Wildpack Beverage Inc (TSXV:CANS) » Definitions » Beneish M-Score

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Traded in Other Exchanges

WLDPF:USA

Address

550 Burrard Street, Suite 2900, Vancouver, BC, CAN, V6C 0A3

Website

https://www.wildpackbev.com

Wildpack Beverage Inc is engaged in the Beverage Packaging and Production Industry. Its business activities include filling and decorating aluminum cans, along with brokering packaging materials and printing labels and sleeves for the United States beverage market. The Company has four reportable segments, being can, filling, decorating, brokering, and corporate It earns revenue from the sale of aluminum cans, decorated packaging materials, and the provision of beverage filling services to its customers.

Wildpack Beverage (TSXV:CANS) Headlines

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