Integrated Beneish M Score

IMTE -  USA Stock  

USD 5.07  0.03  0.60%

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

Integrated Beneish M Score 

 
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Integrated Media Debt Current is projected to increase significantly based on the last few years of reporting. The past year's Debt Current was at 7.94 Million. The current year Debt to Equity Ratio is expected to grow to 5.51, whereas Debt Non Current is forecasted to decline to about 2 M. Integrated Media Book Value per Share is projected to drop slightly based on the last few years of reporting. The past year's Book Value per Share was at 0.43. The current year Current Ratio is expected to grow to 1.33, whereas Earnings per Basic Share are forecasted to decline to (0.0248) .
At this time, it appears that Integrated Media Tec is an unlikely manipulator. The earnings manipulation may begin if Integrated Media'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 Integrated Media 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 Integrated Media'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.
-5.13
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables
0.92
Asset Quality
-3.95
Expense Coverage
0.66
Gross Margin Strengs
1.25
Accruals Factor
0.66
Depreciation Resistance
1.11
Net Sales Growth
1.5
Financial Leverage Condition
1.02

Integrated Media 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 Integrated Media'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
Revenues2.6 M1.7 M
Way Up
Increasing
Stable
Selling General and Administrative Expense2.5 M2.5 M
Fairly Down
Increasing
Slightly volatile
Net Cash Flow from Operations(6.4 M)(6.2 M)
Fairly Down
Decreasing
Slightly volatile
Depreciation Amortization and AccretionM2.1 M
Notably Down
Increasing
Slightly volatile
Total Assets17.6 M13 M
Significantly Up
Increasing
Slightly volatile
Investments549.5 K552.7 K
Slightly Down
Decreasing
Slightly volatile
Investments Current549.5 K552.7 K
Slightly Down
Decreasing
Slightly volatile
Property Plant and Equipment Net7.9 M7.3 M
Significantly Up
Increasing
Slightly volatile
Trade and Non Trade Receivables1.6 M1.2 M
Significantly Up
Increasing
Stable
Total Liabilities11 MM
Significantly Up
Increasing
Slightly volatile
Current Assets6.2 M5.6 M
Significantly Up
Increasing
Slightly volatile
Assets Non Current11.4 M7.3 M
Way Up
Increasing
Slightly volatile
Current Liabilities5.5 M4.4 M
Significantly Up
Increasing
Slightly volatile
Liabilities Non Current3.8 M3.7 M
Fairly Up
Decreasing
Slightly volatile
Total Debt3.2 M2.2 M
Way Up
Increasing
Slightly volatile
Debt Current8.6 M7.9 M
Significantly Up
Increasing
Slightly volatile
Debt Non CurrentM2.2 M
Significantly Down
Increasing
Slightly volatile
Operating Income(10.9 M)(10.6 M)
Fairly Down
Decreasing
Slightly volatile
Gross Margin0.310.248
Fairly Up
Increasing
Slightly volatile

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

About Integrated Media 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

1.97 MillionShare
Integrated Media 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 2.08 Million

Integrated Media 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 Integrated Media. 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)
Revenues13.93 M5.76 M1.32 M1.28 M1.74 M2.61 M
Total Assets43.48 M35.86 M26.03 M19.95 M12.95 M17.58 M
Current Assets14.73 M9.2 M6 M5.23 M5.64 M6.17 M
Assets Non Current28.75 M26.66 M20.03 M14.72 M7.32 M11.41 M
Total Liabilities29.13 M20.47 M9.41 M19.87 M8.05 M11.04 M
Current Liabilities6.47 M3.72 M4.72 M17.99 M4.36 M5.53 M
Operating Income5.68 M(2.84 M)(18.27 M)(16.06 M)(10.65 M)(10.93 M)

About Integrated Media Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Integrated Media Technology's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Integrated Media using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Integrated Media Technology 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.
Integrated Media Technology Limited develops, sells, and distributes 3D autostereoscopic display technology products and services in Hong Kong, China, Korea, Singapore, and Australia. Integrated Media Technology Limited was incorporated in 2008 and is headquartered in Wan Chai, Hong Kong. Integrated Media operates under Electronic Gaming Multimedia classification in the United States and is traded on NASDAQ Exchange. It employs 15 people.

Integrated Media Investors Sentiment

The influence of Integrated Media'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 Integrated. 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.

Current Sentiment - IMTE

Integrated Media Tec Investor Sentiment

Macroaxis portfolio users are indifferent in their judgment towards investing in Integrated Media Technology. What is your judgment towards investing in Integrated Media Technology? Are you bullish or bearish?
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Please see Integrated Media Piotroski F Score and Integrated Media Altman Z Score analysis. Note that the Integrated Media Tec information on this page should be used as a complementary analysis to other Integrated Media'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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.

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When running Integrated Media Tec price analysis, check to measure Integrated Media'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 Integrated Media is operating at the current time. Most of Integrated Media's value examination focuses on studying past and present price action to predict the probability of Integrated Media's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Integrated Media's price. Additionally, you may evaluate how the addition of Integrated Media to your portfolios can decrease your overall portfolio volatility.
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Is Integrated Media'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 Integrated Media. If investors know Integrated 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 Integrated Media 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 Integrated Media Tec is measured differently than its book value, which is the value of Integrated that is recorded on the company's balance sheet. Investors also form their own opinion of Integrated Media's value that differs from its market value or its book value, called intrinsic value, which is Integrated Media'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 Integrated Media's market value can be influenced by many factors that don't directly affect Integrated Media'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 Integrated Media's value and its price as these two are different measures arrived at by different means. Investors typically determine Integrated Media value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Integrated Media'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.