Avino Silver Gold Stock Beneish M Score

ASM Stock  USD 0.58  0.02  3.33%   
This module uses fundamental data of Avino Silver to approximate the value of its Beneish M Score. Avino Silver M Score tells investors if the company management is likely to be manipulating earnings. The score is calculated using eight financial indicators that are adjusted by a specific multiplier. Please note, the M Score is a probabilistic model and cannot detect companies that manipulate their earnings with 100% accuracy. Check out Avino Silver Piotroski F Score and Avino Silver Altman Z Score analysis.
  
At this time, Avino Silver's Short and Long Term Debt is very stable compared to the past year. As of the 18th of March 2024, Short Term Debt is likely to grow to about 7.2 M, though Net Debt is likely to grow to (3.9 M). At this time, Avino Silver's Operating Profit Margin is very stable compared to the past year. As of the 18th of March 2024, Effective Tax Rate is likely to grow to 0.56, while Operating Cycle is likely to drop 143.55.
At this time, it appears that Avino Silver Gold is an unlikely manipulator. The earnings manipulation may begin if Avino Silver's top management creates an artificial sense of financial success, forcing the stock price to be traded at a high price-earnings multiple than it should be. In general, excessive earnings management by Avino Silver executives may lead to removing some of the operating profits from subsequent periods to inflate earnings in the following periods. This way, the manipulation of Avino Silver's earnings can lead to misrepresentations of actual financial condition, taking the otherwise loyal stakeholders on to the path of questionable ethical practices and plain fraud.
-2.55
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables

1.0

Focus
Asset Quality

0.92

Focus
Expense Coverage

1.0

Focus
Gross Margin Strengs

1.03

Focus
Accruals Factor

1.0

Focus
Depreciation Resistance

1.0

Focus
Net Sales Growth

1.05

Focus
Financial Leverage Condition

1.03

Focus

Avino Silver Beneish M-Score Indicator Trends

The cure to earnings manipulation is the transparency of financial reporting. It will typically remove the temptation of the top executives to inflate earnings (i.e., to promote the idea of 'winning at any cost'). Because a healthy internal audit department can enhance transparency, the board should promote the auditors' access to all the record-keeping systems across the enterprise. For example, if Avino Silver's auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back.
Current ValueLast YearChange From Last Year 10 Year Trend
Net Receivables7.7 M7.4 M
Sufficiently Up
Slightly volatile
Total Revenue48.3 M46 M
Sufficiently Up
Slightly volatile
Total Assets146.3 M139.4 M
Sufficiently Up
Slightly volatile
Total Current Assets30.9 M29.4 M
Sufficiently Up
Slightly volatile
Non Current Assets Total115.5 M110 M
Sufficiently Up
Slightly volatile
Property Plant Equipment113.3 M107.9 M
Sufficiently Up
Slightly volatile
Depreciation And Amortization2.6 M2.5 M
Sufficiently Up
Slightly volatile
Selling General Administrative8.1 M7.8 M
Sufficiently Up
Slightly volatile
Total Current Liabilities20.2 M19.3 M
Sufficiently Up
Slightly volatile
Non Current Liabilities TotalM7.4 M
Significantly Down
Very volatile

Avino Silver Gold Beneish M-Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to detect the potential manipulation of earnings. Understanding the correlation between Avino Silver's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Avino Silver in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find Avino Silver's degree of accounting gimmicks and manipulations.

About Avino Silver Beneish M Score

M-Score is one of many grading techniques for value stocks. It was developed by Professor M. Daniel Beneish of the Kelley School of Business at Indiana University and published in 1999 under the paper titled The Detection of Earnings Manipulation. The Beneish score is a multi-factor model that utilizes financial identifiers to compile eight variables used to classify whether a company has manipulated its reported earnings. The variables are built from the officially filed financial statements to create a final score call 'M Score.' The score helps to identify companies that are likely to manipulate their profits if they show deteriorating gross margins, operating expenses, and leverage against growing revenue.

Other Operating Expenses

43.99 Million

At this time, Avino Silver's Other Operating Expenses is very stable compared to the past year.

Avino Silver Earnings Manipulation Drivers

Although earnings manipulation is typically not the result of intentional misconduct by the c-level executives, it is still a widespread practice by the senior management of public companies such as Avino Silver. It is usually done by a series of misrepresentations of various accounting rules and operating activities across multiple financial cycles. The best way to spot the manipulation is to examine the historical financial statement to find inconsistencies in earning reports to find trends in assets or liabilities that are not sustainable in the future.
201920202021202220232024 (projected)
Net Receivables7.0M5.6M4.6M6.4M7.4M7.7M
Total Revenue31.7M16.0M11.2M44.2M46.0M48.3M
Total Assets72.6M68.8M86.3M121.2M139.4M146.3M
Total Current Assets22.8M19.7M35.5M25.6M29.4M30.9M
Net Debt(2.3M)(8.6M)(23.7M)(4.6M)(4.1M)(3.9M)
Short Term Debt4.3M2.8M389K5.9M6.8M7.2M
Operating Income(4.0M)(4.3M)(1.5M)7.8M1.7M1.7M
Investments(3.7M)(2.2M)(3.2M)(24.1M)(15.1M)(14.3M)

About Avino Silver Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Avino Silver Gold's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Avino Silver using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Avino Silver Gold based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Avino Silver Gold Mines Ltd., together with its subsidiaries, engages in the acquisition, exploration, and advancement of mineral properties in Canada. The company was incorporated in 1968 and is headquartered in Vancouver, Canada. Avino Silver operates under Other Precious Metals Mining classification in the United States and is traded on AMEX Exchange.

Pair Trading with Avino Silver

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Avino Silver position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Avino Silver will appreciate offsetting losses from the drop in the long position's value.

Moving together with Avino Stock

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Moving against Avino Stock

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The ability to find closely correlated positions to Avino Silver could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Avino Silver when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Avino Silver - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Avino Silver Gold to buy it.
The correlation of Avino Silver is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Avino Silver moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Avino Silver Gold moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Avino Silver can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
When determining whether Avino Silver Gold is a strong investment it is important to analyze Avino Silver's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Avino Silver's future performance. For an informed investment choice regarding Avino Stock, refer to the following important reports:
Check out Avino Silver Piotroski F Score and Avino Silver Altman Z Score analysis.
You can also try the Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.

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When running Avino Silver's price analysis, check to measure Avino Silver's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Avino Silver is operating at the current time. Most of Avino Silver's value examination focuses on studying past and present price action to predict the probability of Avino Silver's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Avino Silver's price. Additionally, you may evaluate how the addition of Avino Silver to your portfolios can decrease your overall portfolio volatility.
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Is Avino Silver's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Avino Silver. If investors know Avino will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Avino Silver listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
(0.51)
Earnings Share
0.01
Revenue Per Share
0.384
Quarterly Revenue Growth
0.351
Return On Assets
0.0104
The market value of Avino Silver Gold is measured differently than its book value, which is the value of Avino that is recorded on the company's balance sheet. Investors also form their own opinion of Avino Silver's value that differs from its market value or its book value, called intrinsic value, which is Avino Silver's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Avino Silver's market value can be influenced by many factors that don't directly affect Avino Silver's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Avino Silver's value and its price as these two are different measures arrived at by different means. Investors typically determine if Avino Silver is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Avino Silver's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.