Heska Beneish M Score

HSKA -  USA Stock  

USD 175.71  12.41  7.60%

This module uses fundamental data of Heska Corp to approximate the value of its Beneish M Score. Heska Corp 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. Please check Heska Corp Piotroski F Score and Heska Corp Altman Z Score analysis.

Heska Beneish M Score 

 
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Heska Corp Total Debt is projected to increase significantly based on the last few years of reporting. The past year's Total Debt was at 54.96 Million. The current year Debt Non Current is expected to grow to about 57 M, whereas Debt Current is forecasted to decline to about 1.9 M. Heska Corp Interest Coverage is projected to decrease significantly based on the last few years of reporting. The past year's Interest Coverage was at 0.12. The current year Long Term Debt to Equity is expected to grow to 0.18, whereas Calculated Tax Rate is forecasted to decline to (65.57) .
At this time, it appears that Heska Corp is an unlikely manipulator. The earnings manipulation may begin if Heska Corp'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 Heska Corp 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 Heska Corp'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.
-2.66
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables
0.97
Asset Quality
1.0
Expense Coverage
0.95
Gross Margin Strengs
1.12
Accruals Factor
0.95
Depreciation Resistance
1.0
Net Sales Growth
0.84
Financial Leverage Condition
1.0

Heska Corp 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 Heska Corp'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
Revenues166.4 M197.3 M
Fairly Down
Increasing
Slightly volatile
Selling General and Administrative Expense64.6 M80.7 M
Significantly Down
Increasing
Slightly volatile
Net Cash Flow from Operations(673.3 K)(656 K)
Fairly Down
Increasing
Very volatile
Depreciation Amortization and Accretion12.3 M11.4 M
Significantly Up
Increasing
Slightly volatile
Total Assets431.4 M399.8 M
Significantly Up
Increasing
Slightly volatile
Investments36.6 M34 M
Significantly Up
Increasing
Slightly volatile
Investments Current4.8 M4.8 M
Slightly Down
Increasing
Slightly volatile
Investments Non Current31.5 M29.2 M
Significantly Up
Increasing
Slightly volatile
Property Plant and Equipment Net44.2 M41 M
Significantly Up
Increasing
Slightly volatile
Trade and Non Trade Receivables25.4 M31.1 M
Significantly Down
Increasing
Slightly volatile
Total Liabilities121.7 M112.8 M
Significantly Up
Increasing
Slightly volatile
Current Assets184.8 M171.3 M
Significantly Up
Increasing
Slightly volatile
Assets Non Current246.6 M228.6 M
Significantly Up
Increasing
Slightly volatile
Current Liabilities34.5 M42.1 M
Significantly Down
Increasing
Slightly volatile
Liabilities Non Current76.3 M70.7 M
Significantly Up
Increasing
Slightly volatile
Total Debt59.3 M55 M
Significantly Up
Increasing
Slightly volatile
Debt Current1.9 M2.1 M
Significantly Down
Decreasing
Stable
Debt Non Current57 M52.9 M
Significantly Up
Increasing
Slightly volatile
Operating Income(8.4 M)(8.2 M)
Fairly Down
Decreasing
Stable
Gross Margin0.460.412
Moderately Up
Increasing
Slightly volatile

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

About Heska Corp 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

12.28 MillionShare
Heska Corp Depreciation Amortization and Accretion is projected to increase significantly based on the last few years of reporting. The past year's Depreciation Amortization and Accretion was at 11.38 Million

Heska Corp 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 Heska Corp. 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.
201620172018201920202021 (projected)
Revenues130.08 M129.34 M127.45 M122.66 M197.32 M166.38 M
Total Assets130.84 M135.44 M156.45 M244.42 M399.84 M431.41 M
Current Assets55.27 M62.79 M62.41 M139.87 M171.28 M184.8 M
Assets Non Current75.57 M72.66 M94.05 M104.56 M228.56 M246.61 M
Total Liabilities43.87 M35 M34.04 M89.89 M112.79 M121.69 M
Current Liabilities32.41 M19.38 M20.36 M32.2 M42.12 M34.5 M
Total Debt371 K750 K6 M52.63 M54.96 M59.3 M
Debt Current189 K302 K750 K1.75 M2.09 M1.92 M
Debt Non Current227 K69 K6 M50.88 M52.87 M57.05 M
Operating Income16.53 M18.22 M3.79 M327 K(8.19 M)(8.41 M)
Investments4.83 M9.62 M22.91 M25.59 M33.96 M36.64 M

About Heska Corp Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Heska Corp's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Heska Corp using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Heska Corp 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.
Heska Corporation manufactures, sells, and markets veterinary diagnostic and specialty products for canine and feline healthcare markets in the United States, Canada, Mexico, Australia, France, Germany, Italy, Malaysia, Spain, and Switzerland. Heska Corporation was founded in 1988 and is based in Loveland, Colorado. Heska Corp operates under Diagnostics Research classification in the United States and is traded on NASDAQ Exchange. It employs 602 people.

Heska Corp Investors Sentiment

The influence of Heska Corp's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Heska. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock markets does not have a solid backing from leading economists and market statisticians.

Heska Corp Implied Volatility

    
  43.5  
Heska Corp's implied volatility exposes the market's sentiment of Heska Corp stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Heska Corp's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Heska Corp stock will not fluctuate a lot when Heska Corp's options are near their expiration.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Heska Corp in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Heska Corp's short interest history, or implied volatility extrapolated from Heska Corp options trading.

Current Sentiment - HSKA

Heska Corp Investor Sentiment

Most of Macroaxis users are currently bullish on Heska Corp. What is your judgment towards investing in Heska Corp? Are you bullish or bearish?
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Bearish
98% Bullish
2% Bearish
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Please check Heska Corp Piotroski F Score and Heska Corp Altman Z Score analysis. Note that the Heska Corp information on this page should be used as a complementary analysis to other Heska Corp'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 Stock Screener module to find equities using custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..

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Is Heska Corp'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 Heska Corp. If investors know Heska 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 Heska Corp listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Heska Corp is measured differently than its book value, which is the value of Heska that is recorded on the company's balance sheet. Investors also form their own opinion of Heska Corp's value that differs from its market value or its book value, called intrinsic value, which is Heska Corp'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 Heska Corp's market value can be influenced by many factors that don't directly affect Heska Corp'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 Heska Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine Heska Corp value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Heska Corp'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.