International Beneish M Score

IMXI -  USA Stock  

USD 19.63  0.68  3.59%

This module uses fundamental data of International Money to approximate the value of its Beneish M Score. International Money 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 International Money Piotroski F Score and International Money Altman Z Score analysis.
  
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International Money Debt Non Current is most likely to decrease significantly in the upcoming years. The last year's value of Debt Non Current was reported at 79.21 Million. The current Debt to Equity Ratio is estimated to increase to 1.42, while Issuance Repayment of Debt Securities is projected to decrease to (4.2 M). International Money EBITDA Margin is most likely to increase slightly in the upcoming years. The last year's value of EBITDA Margin was reported at 0.17. The current Earnings per Basic Share is estimated to increase to 1.32, while Book Value per Share is projected to decrease to 3.07.
At this time, it appears that International Money is an unlikely manipulator. The earnings manipulation may begin if International Money'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 International Money 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 International Money'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.
-3.11
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables1.02Focus
Asset QualityN/AFocus
Expense Coverage1.03Focus
Gross Margin Strengs1.09Focus
Accruals Factor1.03Focus
Depreciation Resistance0.9Focus
Net Sales Growth0.93Focus
Financial Leverage Condition1.13Focus

International Money 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 International Money'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
Revenues428.2 M459.2 M
Significantly Down
Increasing
Slightly volatile
Selling General and Administrative Expense71.3 M74.4 M
Sufficiently Down
Increasing
Slightly volatile
Net Cash Flow from Operations84.3 M78.1 M
Significantly Up
Increasing
Slightly volatile
Depreciation Amortization and Accretion10.5 M9.5 M
Significantly Up
Decreasing
Slightly volatile
Total Assets301.8 M340.5 M
Fairly Down
Increasing
Slightly volatile
Property Plant and Equipment Net16.7 M17.9 M
Significantly Down
Increasing
Slightly volatile
Trade and Non Trade Receivables64.3 M67.3 M
Sufficiently Down
Increasing
Stable
Total Liabilities190.5 M197.5 M
Sufficiently Down
Increasing
Slightly volatile
Current Assets221.3 M263.5 M
Fairly Down
Increasing
Slightly volatile
Assets Non Current80.5 M77 M
Sufficiently Up
Increasing
Slightly volatile
Current Liabilities102.6 M116.9 M
Fairly Down
Increasing
Slightly volatile
Liabilities Non Current82.1 M80.6 M
Fairly Up
Decreasing
Slightly volatile
Total Debt91.5 M83.1 M
Significantly Up
Increasing
Slightly volatile
Debt Current4.6 M3.9 M
Fairly Up
Increasing
Slightly volatile
Debt Non Current81.2 M79.2 M
Fairly Up
Decreasing
Slightly volatile
Operating Income73.2 M67.9 M
Significantly Up
Increasing
Slightly volatile
Gross Margin0.360.33
Significantly Up
Increasing
Slightly volatile

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

About International Money 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

10.5 Million

Share
International Money Depreciation Amortization and Accretion is most likely to decrease significantly in the upcoming years. The last year's value of Depreciation Amortization and Accretion was reported at 9.49 Million

International Money 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 International Money. 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.
201720182019202020212022 (projected)
Total Assets216.58 M225.84 M227.31 M259.47 M340.54 M301.79 M
Current Assets119.11 M138.65 M148.23 M186.73 M263.55 M221.34 M
Assets Non Current97.47 M87.19 M79.08 M72.75 M76.99 M80.46 M
Total Liabilities180.68 M181.37 M171.34 M165.21 M197.5 M190.45 M
Current Liabilities72.62 M68.04 M83.72 M83.94 M116.86 M102.57 M
Total Debt111.97 M117.26 M94.67 M87.62 M83.09 M91.48 M
Operating Income1.81 M13.07 M36.44 M52.87 M67.85 M73.21 M

About International Money Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze International Money Express's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of International Money using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of International Money Express 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.
International Money Express, Inc., through its subsidiary, operates as a money remittance services company in the United States, Latin America, Mexico, Africa, Central and South America, and the Caribbean. International Money Express, Inc. is headquartered in Miami, Florida. International Money operates under SoftwareInfrastructure classification in the United States and is traded on NASDAQ Exchange. It employs 674 people.

International Money Investors Sentiment

The influence of International Money'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 International. 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.

International Money Implied Volatility

    
  25.89  
International Money's implied volatility exposes the market's sentiment of International Money Express stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if International Money'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 International Money stock will not fluctuate a lot when International Money'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 International Money 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, International Money's short interest history, or implied volatility extrapolated from International Money options trading.

Current Sentiment - IMXI

International Money Investor Sentiment

Macroaxis portfolio users are indifferent in their judgment towards investing in International Money Express. What is your judgment towards investing in International Money Express? Are you bullish or bearish?
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Please see International Money Piotroski F Score and International Money Altman Z Score analysis. Note that the International Money information on this page should be used as a complementary analysis to other International Money'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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.

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