Astrotech Beneish M Score

ASTC
 Stock
  

USD 0.49  0.01  2.08%   

This module uses fundamental data of Astrotech Corp to approximate the value of its Beneish M Score. Astrotech 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 continue to Astrotech Corp Piotroski F Score and Astrotech Corp Altman Z Score analysis.
  
Astrotech Corp Total Debt is projected to decrease significantly based on the last few years of reporting. The past year's Total Debt was at 2.52 Million. The current year Debt Non Current is expected to grow to about 198.6 K, whereas Debt Current is forecasted to decline to about 2.5 M. Astrotech Corp Asset Turnover is projected to slightly decrease based on the last few years of reporting. The past year's Asset Turnover was at 0.0099. The current year Book Value per Share is expected to grow to 3.46, whereas EBITDA Margin is forecasted to decline to (20.83) .
At this time, it appears that Astrotech Corp is an unlikely manipulator. The earnings manipulation may begin if Astrotech 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 Astrotech 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 Astrotech 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.
-2.59
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables1.0Focus
Asset Quality0.88Focus
Expense Coverage1.19Focus
Gross Margin Strengs1.03Focus
Accruals Factor1.19Focus
Depreciation Resistance1.0Focus
Net Sales Growth1.03Focus
Financial Leverage Condition1.11Focus

Astrotech 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 Astrotech 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
Revenues308.5 K300.6 K
Fairly Up
Decreasing
Slightly volatile
Selling General and Administrative Expense5.2 M4.3 M
Fairly Up
Decreasing
Slightly volatile
Depreciation Amortization and Accretion187.5 K182.7 K
Fairly Up
Decreasing
Slightly volatile
Total Assets63.7 M59.1 M
Significantly Up
Decreasing
Very volatile
Investments21.1 M24.6 M
Fairly Down
Decreasing
Slightly volatile
Investments Current19.9 M24.6 M
Significantly Down
Increasing
Very volatile
Investments Non Current46.2 K45 K
Fairly Up
Decreasing
Slightly volatile
Property Plant and Equipment Net472.9 K460.8 K
Fairly Up
Decreasing
Slightly volatile
Trade and Non Trade Receivables4.6 K4.5 K
Fairly Up
Decreasing
Slightly volatile
Total Liabilities4.4 MM
Significantly Up
Decreasing
Slightly volatile
Current Assets80.8 M74.9 M
Significantly Up
Increasing
Slightly volatile
Assets Non Current483.1 K470.7 K
Fairly Up
Decreasing
Slightly volatile
Current Liabilities3.7 M3.8 M
Fairly Down
Decreasing
Slightly volatile
Liabilities Non Current198.6 K193.5 K
Fairly Up
Decreasing
Slightly volatile
Total Debt3.4 M2.5 M
Significantly Up
Decreasing
Slightly volatile
Debt Current2.5 MM
Fairly Down
Increasing
Slightly volatile
Debt Non Current198.6 K193.5 K
Fairly Up
Decreasing
Slightly volatile
Gross Margin0.09970.0972
Fairly Up
Decreasing
Slightly volatile

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

About Astrotech 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

187,508

Astrotech Corp Depreciation Amortization and Accretion is projected to decrease significantly based on the last few years of reporting. The past year's Depreciation Amortization and Accretion was at 182,700

Astrotech 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 Astrotech 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.
201720182019202020212022 (projected)
Revenues86 K127 K488 K334 K300.6 K308.51 K
Total Assets5.14 M3.69 M5.93 M65.63 M59.07 M63.73 M
Current Assets4.28 M2.72 M4.67 M65.11 M74.88 M80.79 M
Assets Non Current864 K970 K1.26 M523 K470.7 K483.09 K
Total Liabilities1.15 M984 K5.3 M4.43 M3.98 M4.42 M
Current Liabilities960 K838 K4.35 M4.21 M3.79 M3.72 M
Operating Income(13.34 M)(8.42 M)(8.11 M)(7.91 M)(7.12 M)(7.68 M)
Investments21.31 M12.89 M3.6 M27.35 M24.62 M21.11 M
Investments Current17.1 M10.9 M3.55 M27.35 M24.62 M19.87 M
Gross Margin0.580.290.080.110.09720.0997

About Astrotech Corp Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Astrotech Corp's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Astrotech Corp using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Astrotech 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.
Astrotech Corporation operates as a science and technology development and commercialization company worldwide. Astrotech Corporation was incorporated in 1984 is based in Austin, Texas. Astrotech Corp operates under Aerospace Defense classification in the United States and is traded on NASDAQ Exchange. It employs 12 people.

Astrotech Corp Investors Sentiment

The influence of Astrotech 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 Astrotech. 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.
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 Astrotech 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, Astrotech Corp's short interest history, or implied volatility extrapolated from Astrotech Corp options trading.

Pair Trading with Astrotech Corp

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

Moving together with Astrotech Corp

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Moving against Astrotech Corp

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The ability to find closely correlated positions to Astrotech Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Astrotech Corp 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 Astrotech Corp - 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 Astrotech Corp to buy it.
The correlation of Astrotech Corp is a statistical measure of how it moves in relation to other equities. 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 Astrotech Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Astrotech Corp 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 Astrotech Corp 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.
Pair CorrelationCorrelation Matching
Please continue to Astrotech Corp Piotroski F Score and Astrotech Corp Altman Z Score analysis. Note that the Astrotech Corp information on this page should be used as a complementary analysis to other Astrotech 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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..

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When running Astrotech Corp price analysis, check to measure Astrotech Corp'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 Astrotech Corp is operating at the current time. Most of Astrotech Corp's value examination focuses on studying past and present price action to predict the probability of Astrotech Corp's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Astrotech Corp's price. Additionally, you may evaluate how the addition of Astrotech Corp to your portfolios can decrease your overall portfolio volatility.
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Is Astrotech 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 Astrotech Corp. If investors know Astrotech 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 Astrotech Corp listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Market Capitalization
24.2 M
Quarterly Revenue Growth YOY
0.8
Return On Assets
-0.11
Return On Equity
-0.19
The market value of Astrotech Corp is measured differently than its book value, which is the value of Astrotech that is recorded on the company's balance sheet. Investors also form their own opinion of Astrotech Corp's value that differs from its market value or its book value, called intrinsic value, which is Astrotech 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 Astrotech Corp's market value can be influenced by many factors that don't directly affect Astrotech 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 Astrotech Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine Astrotech Corp value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Astrotech 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.