This module uses fundamental data of Aehr Test to approximate the value of its Beneish M Score. Aehr Test 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 Aehr Test Piotroski F Score and Aehr Test Altman Z Score analysis.
Aehr
Beneish M Score
Market Cap
Enterprise Value
Price To Sales Ratio
Ptb Ratio
Days Sales Outstanding
Book Value Per Share
Free Cash Flow Yield
Operating Cash Flow Per Share
Stock Based Compensation To Revenue
Capex To Depreciation
Pb Ratio
Ev To Sales
Free Cash Flow Per Share
Roic
Inventory Turnover
Net Income Per Share
Days Of Inventory On Hand
Payables Turnover
Research And Ddevelopement To Revenue
Capex To Revenue
Cash Per Share
Pocfratio
Interest Coverage
Capex To Operating Cash Flow
Pfcf Ratio
Days Payables Outstanding
Income Quality
Roe
Ev To Operating Cash Flow
Pe Ratio
Return On Tangible Assets
Ev To Free Cash Flow
Earnings Yield
Intangibles To Total Assets
Net Debt To E B I T D A
Current Ratio
Tangible Book Value Per Share
Receivables Turnover
Graham Number
Shareholders Equity Per Share
Debt To Equity
Capex Per Share
Graham Net Net
Revenue Per Share
Interest Debt Per Share
Debt To Assets
Enterprise Value Over E B I T D A
Short Term Coverage Ratios
Price Earnings Ratio
Operating Cycle
Price Book Value Ratio
Price Earnings To Growth Ratio
Days Of Payables Outstanding
Price To Operating Cash Flows Ratio
Price To Free Cash Flows Ratio
Pretax Profit Margin
Ebt Per Ebit
Operating Profit Margin
Effective Tax Rate
Company Equity Multiplier
Long Term Debt To Capitalization
Total Debt To Capitalization
Return On Capital Employed
Debt Equity Ratio
Ebit Per Revenue
Quick Ratio
Dividend Paid And Capex Coverage Ratio
Net Income Per E B T
Cash Ratio
Cash Conversion Cycle
Operating Cash Flow Sales Ratio
Days Of Inventory Outstanding
Days Of Sales Outstanding
Free Cash Flow Operating Cash Flow Ratio
Cash Flow Coverage Ratios
Price To Book Ratio
Fixed Asset Turnover
Capital Expenditure Coverage Ratio
Price Cash Flow Ratio
Enterprise Value Multiple
Debt Ratio
Cash Flow To Debt Ratio
Price Sales Ratio
Return On Assets
Asset Turnover
Net Profit Margin
Gross Profit Margin
Price Fair Value
Return On Equity
Change To Inventory
Change In Cash
Stock Based Compensation
Free Cash Flow
Change In Working Capital
Begin Period Cash Flow
Other Cashflows From Financing Activities
Depreciation
Other Non Cash Items
Capital Expenditures
Total Cash From Operating Activities
Net Income
Total Cash From Financing Activities
End Period Cash Flow
Sale Purchase Of Stock
Total Cashflows From Investing Activities
Change To Account Receivables
Other Cashflows From Investing Activities
Change To Netincome
Investments
Change Receivables
Net Borrowings
Exchange Rate Changes
Dividends Paid
Cash And Cash Equivalents Changes
Cash Flows Other Operating
Change To Liabilities
Change To Operating Activities
Issuance Of Capital Stock
Total Assets
Short Long Term Debt Total
Other Current Liab
Total Current Liabilities
Total Stockholder Equity
Property Plant And Equipment Net
Net Debt
Retained Earnings
Accounts Payable
Cash
Non Current Assets Total
Non Currrent Assets Other
Cash And Short Term Investments
Net Receivables
Common Stock Shares Outstanding
Liabilities And Stockholders Equity
Non Current Liabilities Total
Inventory
Other Current Assets
Other Stockholder Equity
Total Liab
Property Plant And Equipment Gross
Total Current Assets
Accumulated Other Comprehensive Income
Short Term Debt
Current Deferred Revenue
Common Stock Total Equity
Common Stock
Other Liab
Other Assets
Long Term Debt
Property Plant Equipment
Net Tangible Assets
Total Permanent Equity
Noncontrolling Interest In Consolidated Entity
Retained Earnings Total Equity
Capital Surpluse
Additional Paid In Capital
Deferred Long Term Liab
Non Current Liabilities Other
Short Long Term Debt
Long Term Debt Total
Net Invested Capital
Net Working Capital
Capital Stock
Capital Lease Obligations
Cash And Equivalents
Depreciation And Amortization
Interest Expense
Selling General Administrative
Total Revenue
Gross Profit
Other Operating Expenses
Operating Income
Ebit
Research Development
Ebitda
Cost Of Revenue
Total Operating Expenses
Income Before Tax
Total Other Income Expense Net
Income Tax Expense
Net Income Applicable To Common Shares
Net Income From Continuing Ops
Non Operating Income Net Other
Minority Interest
Tax Provision
Interest Income
Net Interest Income
Reconciled Depreciation
Probability Of Bankruptcy
At this time, Aehr Test's Short Term Debt is relatively stable compared to the past year. As of 12/01/2024, Short and Long Term Debt is likely to grow to about 4.2 M, though Net Debt is likely to grow to (40.8 M). At this time, Aehr Test's Free Cash Flow Per Share is relatively stable compared to the past year. As of 12/01/2024, ROIC is likely to grow to 0.25, while Book Value Per Share is likely to drop 2.56.
At this time, it appears that Aehr Test Systems is an unlikely manipulator. The earnings manipulation may begin if Aehr Test'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 Aehr Test 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 Aehr Test'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.
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 Aehr Test'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.
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 Aehr Test's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Aehr Test in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find Aehr Test's degree of accounting gimmicks and manipulations.
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.
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 Aehr Test. 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.
Some studies have found that companies with high sustainability scores are getting higher valuations than competitors with lower social-engagement activities. While most ESG disclosures are voluntary and do not directly affect the long term financial condition, Aehr Test's sustainability indicators can be used to identify proper investment strategies using environmental, social, and governance scores that are crucial to Aehr Test's managers, analysts, and investors.
Environmental
Governance
Social
About Aehr Test Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Aehr Test Systems's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Aehr Test using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Aehr Test Systems 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.
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 Aehr Test 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 Aehr Test will appreciate offsetting losses from the drop in the long position's value.
The ability to find closely correlated positions to Aehr Test could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Aehr Test 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 Aehr Test - 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 Aehr Test Systems to buy it.
The correlation of Aehr Test is a statistical measure of how it moves in relation to other instruments. 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 Aehr Test moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Aehr Test Systems 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 Aehr Test 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.
When running Aehr Test's price analysis, check to measure Aehr Test'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 Aehr Test is operating at the current time. Most of Aehr Test's value examination focuses on studying past and present price action to predict the probability of Aehr Test's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Aehr Test's price. Additionally, you may evaluate how the addition of Aehr Test to your portfolios can decrease your overall portfolio volatility.