Eurodry Beneish M Score

EDRY -  USA Stock  

USD 22.35  0.41  1.80%

This module uses fundamental data of Eurodry to approximate the value of its Beneish M Score. Eurodry 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. Continue to Eurodry Piotroski F Score and Eurodry Altman Z Score analysis.

Search Beneish M Score 

 
Refresh
Eurodry Total Debt is fairly stable at the moment as compared to the past year. Eurodry reported Total Debt of 51.11 Million in 2020. Debt Non Current is likely to rise to about 43 M in 2021, whereas Debt Current is likely to drop slightly above 11.5 M in 2021. Eurodry Book Value per Share is fairly stable at the moment as compared to the past year. Eurodry reported Book Value per Share of 15.21 in 2020. Current Ratio is likely to rise to 0.32 in 2021, whereas Debt to Equity Ratio is likely to drop 1.57 in 2021.
At this time, it appears that Eurodry is an unlikely manipulator. The earnings manipulation may begin if Eurodry'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 Eurodry 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 Eurodry'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.
-2.71
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables
1.27
Asset Quality
N/A
Expense Coverage
0.91
Gross Margin Strengs
1.07
Accruals Factor
0.91
Depreciation Resistance
1.06
Net Sales Growth
1.05
Financial Leverage Condition
0.92

Eurodry 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 Eurodry'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
Revenues23.4 M22.3 M
Sufficiently Up
Increasing
Slightly volatile
Selling General and Administrative Expense2.2 M2.3 M
Sufficiently Down
Increasing
Slightly volatile
Net Cash Flow from Operations2.4 M2.3 M
Fairly Up
Increasing
Very volatile
Depreciation Amortization and Accretion6.6 M6.6 M
Slightly Up
Increasing
Slightly volatile
Total Assets118.8 M107.5 M
Significantly Up
Increasing
Slightly volatile
Property Plant and Equipment Net105.7 M99.3 M
Notably Up
Increasing
Slightly volatile
Trade and Non Trade Receivables2.7 MM
Significantly Up
Increasing
Slightly volatile
Total Liabilities55.6 M57 M
Fairly Down
Increasing
Slightly volatile
Current Assets7.9 M6.1 M
Significantly Up
Increasing
Slightly volatile
Assets Non Current110.9 M101.5 M
Significantly Up
Increasing
Slightly volatile
Current Liabilities16.1 M19.3 M
Fairly Down
Increasing
Slightly volatile
Liabilities Non Current41.1 M37.7 M
Significantly Up
Decreasing
Slightly volatile
Total Debt54.6 M51.1 M
Notably Up
Increasing
Slightly volatile
Debt Current11.5 M13.8 M
Fairly Down
Increasing
Slightly volatile
Debt Non Current43 M37.3 M
Fairly Up
Increasing
Slightly volatile
Operating Income(2.8 M)(2.7 M)
Fairly Down
Increasing
Slightly volatile
Gross Margin0.390.365
Notably Up
Decreasing
Very volatile

Eurodry 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 Eurodry's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Eurodry in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find Eurodry's degree of accounting gimmicks and manipulations.

About Eurodry 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.

Depreciation Amortization and Accretion

6.58 MillionShare
Eurodry Depreciation Amortization and Accretion is fairly stable at the moment as compared to the past year. Eurodry reported Depreciation Amortization and Accretion of 6.56 Million in 2020

About Eurodry Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Eurodry's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Eurodry using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Eurodry 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.
EuroDry Ltd., through its subsidiaries, provides ocean-going transportation services worldwide. EuroDry Ltd. was incorporated in 2018 and is based in Marousi, Greece. Eurodry operates under Marine Shipping classification in the United States and is traded on NASDAQ Exchange.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Eurodry without increasing your portfolio risk or giving up expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate.risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Risk-Return Analysis Now

   

Risk-Return Analysis

View associations between returns expected from investment and the risk you assume
All  Next Launch Module

Pair Trading with Eurodry

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 Eurodry 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 Eurodry will appreciate offsetting losses from the drop in the long position's value.

Eurodry Pair Correlation

Equities Pair Trading Analysis

Correlation analysis and pair trading evaluation for Eurodry and Genco Shipping Trading. Pair trading can be used as a hedging technique within a particular sector or industry or even over random equities to generate better risk-adjusted return
Run Pair Correlation  
Continue to Eurodry Piotroski F Score and Eurodry Altman Z Score analysis. Note that the Eurodry information on this page should be used as a complementary analysis to other Eurodry's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.

Complementary Tools for Eurodry Stock analysis

When running Eurodry price analysis, check to measure Eurodry'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 Eurodry is operating at the current time. Most of Eurodry's value examination focuses on studying past and present price action to predict the probability of Eurodry's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Eurodry's price. Additionally, you may evaluate how the addition of Eurodry to your portfolios can decrease your overall portfolio volatility.
Price Exposure Probability
Analyze equity upside and downside potential for a given time horizon across multiple markets
Go
Content Syndication
Quickly integrate customizable finance content to your own investment portal
Go
Portfolio Volatility
Check portfolio volatility and analyze historical return density to properly model market risk
Go
CEO Directory
Screen CEOs from public companies around the world
Go
Aroon Oscillator
Analyze current equity momentum using Aroon Oscillator and other momentum ratios
Go
Probability Of Bankruptcy
Get analysis of equity chance of financial distress in the next 2 years
Go
Efficient Frontier
Plot and analyze your portfolio and positions against risk-return landscape of the market.
Go
The market value of Eurodry is measured differently than its book value, which is the value of Eurodry that is recorded on the company's balance sheet. Investors also form their own opinion of Eurodry's value that differs from its market value or its book value, called intrinsic value, which is Eurodry'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 Eurodry's market value can be influenced by many factors that don't directly affect Eurodry underlying business (such as pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Eurodry's value and its price as these two are different measures arrived at by different means. Investors typically determine Eurodry value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Eurodry'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.