Turtle Beneish M Score

HEAR
 Stock
  

USD 9.30  0.02  0.22%   

This module uses fundamental data of Turtle Beach to approximate the value of its Beneish M Score. Turtle Beach 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 Turtle Beach Piotroski F Score and Turtle Beach Altman Z Score analysis.
  
Turtle Beach Total Debt is relatively stable at the moment as compared to the past year. Turtle Beach reported last year Total Debt of 14.09 Million. As of 11/27/2022, Debt Current is likely to grow to about 14.5 M, while Issuance Repayment of Debt Securities is likely to drop (14.5 M). Turtle Beach Return on Investment is relatively stable at the moment as compared to the past year. Turtle Beach reported last year Return on Investment of 15.85. As of 11/27/2022, Net Current Assets as percentage of Total Assets is likely to grow to 53.80, while Accounts Payable Turnover is likely to drop 8.45.
At this time, it appears that Turtle Beach Corp is a possible manipulator. The earnings manipulation may begin if Turtle Beach'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 Turtle Beach 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 Turtle Beach'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.
-2.09
Beneish M Score - Possible Manipulator
Elasticity of Receivables1.16Focus
Asset QualityN/AFocus
Expense Coverage0.78Focus
Gross Margin Strengs1.11Focus
Accruals Factor0.78Focus
Depreciation Resistance0.92Focus
Net Sales Growth1.08Focus
Financial Leverage Condition0.8Focus

Turtle Beach 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 Turtle Beach'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
Selling General and Administrative Expense75.7 M90.5 M
Fairly Down
Increasing
Slightly volatile
Revenues395.3 M366.4 M
Significantly Up
Increasing
Slightly volatile
Trade and Non Trade Receivables44.9 M36 M
Fairly Up
Increasing
Slightly volatile
Property Plant and Equipment Net6.5 MM
Significantly Down
Increasing
Slightly volatile
Operating Income22 M20.4 M
Significantly Up
Increasing
Slightly volatile
Net Cash Flow from Operations(335.6 K)(327 K)
Fairly Down
Increasing
Slightly volatile
Liabilities Non Current16.6 M11 M
Way Up
Decreasing
Slightly volatile
Current Liabilities61.8 M78.2 M
Significantly Down
Increasing
Slightly volatile
Total Liabilities74.8 M89.1 M
Fairly Down
Increasing
Slightly volatile
Gross Margin38.8535.0434
Significantly Up
Increasing
Stable
Depreciation Amortization and Accretion5.8 M5.3 M
Significantly Up
Increasing
Slightly volatile
Debt Non Current9.3 MM
Fairly Up
Decreasing
Very volatile
Debt Current14.5 M14.1 M
Fairly Up
Decreasing
Slightly volatile
Total Debt14.5 M14.1 M
Fairly Up
Decreasing
Slightly volatile
Assets Non Current37.9 M37.4 M
Fairly Up
Increasing
Stable
Current Assets208.4 M193.1 M
Significantly Up
Increasing
Slightly volatile
Total Assets248.7 M230.5 M
Significantly Up
Increasing
Slightly volatile

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

About Turtle Beach 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

5.77 Million

Turtle Beach Depreciation Amortization and Accretion is relatively stable at the moment as compared to the past year. Turtle Beach reported last year Depreciation Amortization and Accretion of 5.31 Million

Turtle Beach 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 Turtle Beach. 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)
Revenues149.13 M287.44 M234.66 M360.09 M366.35 M395.28 M
Total Assets94.25 M121.92 M131.35 M203.45 M230.5 M248.7 M
Current Assets86.77 M113.82 M102.55 M169.98 M193.11 M208.36 M
Assets Non Current7.49 M8.1 M28.8 M33.48 M37.39 M37.89 M
Total Liabilities116.41 M84.42 M67.96 M87.05 M89.14 M74.84 M
Current Liabilities67.55 M73.6 M64.59 M78.65 M78.17 M61.84 M
Total Debt66.88 M70.27 M45.23 M15.65 M14.09 M14.46 M
Debt Current38.55 M42.64 M37.38 M15.65 M14.09 M14.46 M
Debt Non Current27.54 M28.32 M27.62 M7.85 M9.03 M9.26 M
Operating Income4.8 M54.04 M10.43 M49.17 M20.43 M22.04 M
Gross Margin34.237.8233.5437.1535.0438.85

About Turtle Beach Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Turtle Beach Corp's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Turtle Beach using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Turtle Beach 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.
Turtle Beach Corporation operates as an audio technology company. The company was founded in 1975 and is headquartered in White Plains, New York. Turtle Beach operates under Consumer Electronics classification in the United States and is traded on NASDAQ Exchange. It employs 272 people.

Turtle Beach Investors Sentiment

The influence of Turtle Beach'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 Turtle. 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.
Investor biases related to Turtle Beach's public news can be used to forecast risks associated with investment in Turtle. The trend in average sentiment can be used to explain how an investor holding Turtle can time the market purely based on public headlines and social activities around Turtle Beach Corp. Please note that most equiteis that are difficult to arbitrage are affected by market sentiment the most.
Turtle Beach's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Turtle Beach's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Turtle Beach's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Turtle Beach.
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 Turtle Beach 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, Turtle Beach's short interest history, or implied volatility extrapolated from Turtle Beach options trading.

Becoming a Better Investor with Macroaxis

Macroaxis puts the power of mathematics on your side. We analyze your portfolios and positions such as Turtle Beach Corp using complex mathematical models and algorithms, but make them easy to understand. There is no real person involved in your portfolio analysis. We perform a number of calculations to compute absolute and relative portfolio volatility, correlation between your assets, value at risk, expected return as well as over 100 different fundamental and technical indicators.

Build Optimal Portfolios

Align your risk with return expectations

Fix your portfolio
By capturing your risk tolerance and investment horizon Macroaxis technology of instant portfolio optimization will compute exactly how much risk is acceptable for your desired return expectations
Please check Turtle Beach Piotroski F Score and Turtle Beach Altman Z Score analysis. Note that the Turtle Beach Corp information on this page should be used as a complementary analysis to other Turtle Beach'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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.

Complementary Tools for Turtle Stock analysis

When running Turtle Beach Corp price analysis, check to measure Turtle Beach'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 Turtle Beach is operating at the current time. Most of Turtle Beach's value examination focuses on studying past and present price action to predict the probability of Turtle Beach's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Turtle Beach's price. Additionally, you may evaluate how the addition of Turtle Beach to your portfolios can decrease your overall portfolio volatility.
Stock Tickers
Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites
Go
Volatility Analysis
Get historical volatility and risk analysis based on latest market data
Go
Portfolio Volatility
Check portfolio volatility and analyze historical return density to properly model market risk
Go
Price Ceiling Movement
Calculate and plot Price Ceiling Movement for different equity instruments
Go
Insider Screener
Find insiders across different sectors to evaluate their impact on performance
Go
Watchlist Optimization
Optimize watchlists to build efficient portfolio or rebalance existing positions based on mean-variance optimization algorithm
Go
Options Analysis
Analyze and evaluate options and option chains as a potential hedge for your portfolios
Go
Idea Optimizer
Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio
Go
Insider Screener
Find insiders across different sectors to evaluate their impact on performance
Go
Is Turtle Beach'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 Turtle Beach. If investors know Turtle 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 Turtle Beach listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
(0.73) 
Market Capitalization
154 M
Quarterly Revenue Growth YOY
(0.40) 
Return On Assets
(0.08) 
Return On Equity
(0.26) 
The market value of Turtle Beach Corp is measured differently than its book value, which is the value of Turtle that is recorded on the company's balance sheet. Investors also form their own opinion of Turtle Beach's value that differs from its market value or its book value, called intrinsic value, which is Turtle Beach'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 Turtle Beach's market value can be influenced by many factors that don't directly affect Turtle Beach'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 Turtle Beach's value and its price as these two are different measures arrived at by different means. Investors typically determine Turtle Beach value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Turtle Beach'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.