Park City Beneish M Score

PCYG
 Stock
  

USD 4.45  0.05  1.14%   

This module uses fundamental data of Park City to approximate the value of its Beneish M Score. Park City 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 Park City Piotroski F Score and Park City Altman Z Score analysis.
  
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Park City Issuance Repayment of Debt Securities is projected to based on the last few years of reporting. The past year's Issuance Repayment of Debt Securities was at 995,172. The current year Long Term Debt to Equity is expected to grow to 0.0344, whereas Total Debt is forecasted to decline to about 4.6 M. Park City Long Term Debt to Equity is projected to slightly decrease based on the last few years of reporting. The past year's Long Term Debt to Equity was at 0.0335. The current year Calculated Tax Rate is expected to grow to 2.69, whereas Total Assets Per Share are forecasted to decline to 2.13.
At this time, it appears that Park City Group is an unlikely manipulator. The earnings manipulation may begin if Park City'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 Park City 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 Park City'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.
-2.93
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables1.24Focus
Asset Quality0.47Focus
Expense Coverage1.02Focus
Gross Margin Strengs0.97Focus
Accruals Factor1.02Focus
Depreciation Resistance0.99Focus
Net Sales Growth0.87Focus
Financial Leverage Condition1.12Focus

Park City 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 Park City'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
Revenues16.5 M18.9 M
Fairly Down
Increasing
Slightly volatile
Selling General and Administrative Expense10.9 M12.4 M
Fairly Down
Increasing
Slightly volatile
Net Cash Flow from Operations5.2 M4.9 M
Significantly Up
Increasing
Slightly volatile
Depreciation Amortization and Accretion591.2 K541.3 K
Significantly Up
Decreasing
Slightly volatile
Total Assets40.2 M49.5 M
Significantly Down
Increasing
Slightly volatile
Investments441.4 K430.1 K
Fairly Up
Decreasing
Slightly volatile
Investments Non Current441.4 K430.1 K
Fairly Up
Decreasing
Slightly volatile
Property Plant and Equipment Net3.7 M3.4 M
Significantly Up
Increasing
Slightly volatile
Trade and Non Trade Receivables10.6 M9.8 M
Significantly Up
Increasing
Slightly volatile
Total Liabilities8.3 M8.9 M
Significantly Down
Increasing
Slightly volatile
Current Assets28.8 M26.7 M
Significantly Up
Increasing
Slightly volatile
Assets Non Current25.6 M30.4 M
Fairly Down
Increasing
Slightly volatile
Current Liabilities7.5 M8.4 M
Moderately Down
Increasing
Slightly volatile
Liabilities Non Current1.1 M828.7 K
Significantly Up
Decreasing
Slightly volatile
Total Debt4.6 M5.3 M
Fairly Down
Increasing
Stable
Debt Current4.6 M5.7 M
Significantly Down
Increasing
Slightly volatile
Debt Non Current1.1 M828.7 K
Significantly Up
Decreasing
Slightly volatile
Operating Income2.8 M2.6 M
Significantly Up
Increasing
Slightly volatile
Gross Margin58.9360.5
Fairly Down
Increasing
Slightly volatile

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

About Park City 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

591,206

Share
Park City 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 541,290

Park City 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 Park City. 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)
Revenues22.04 M21.17 M20.04 M21.01 M18.91 M16.47 M
Total Assets49.29 M52.94 M53.43 M55.05 M49.54 M40.2 M
Current Assets23.73 M26.55 M27.15 M29.7 M26.73 M28.84 M
Assets Non Current23.7 M27.21 M25.56 M26.39 M30.35 M25.58 M
Total Liabilities9.59 M9.72 M10.85 M9.91 M8.92 M8.28 M
Current Liabilities7.99 M8.8 M8.91 M9.3 M8.37 M7.5 M
Total Debt3.23 M5.17 M5.01 M5.88 M5.29 M4.6 M
Debt Current2.74 M3.17 M3.42 M4.96 M5.7 M4.6 M
Debt Non Current491.25 K2 M1.59 M920.75 K828.68 K1.09 M
Operating Income3.52 M3.99 M1.48 M2.89 M2.6 M2.81 M
Gross Margin70.1172.4665.0867.2360.558.93

About Park City Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Park City Group's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Park City using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Park City Group 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.
Park City Group, Inc., a software-as-a-service provider, designs, develops, and markets proprietary software products in North America. It primarily serves multi-store retail chains, wholesalers and distributors, and their suppliers. Park City operates under SoftwareApplication classification in the United States and is traded on NASDAQ Exchange. It employs 70 people.

Park City Investors Sentiment

The influence of Park City'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 Park City. 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.

Park City Implied Volatility

    
  28.5  
Park City's implied volatility exposes the market's sentiment of Park City Group stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Park City'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 Park City stock will not fluctuate a lot when Park City'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 Park City 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, Park City's short interest history, or implied volatility extrapolated from Park City options trading.

Current Sentiment - PCYG

Park City Group Investor Sentiment

Most of Macroaxis users are at this time bullish on Park City Group. What is your perspective on investing in Park City Group? Are you bullish or bearish?
Bullish
Bearish
98% Bullish
2% Bearish

Currently Active Assets on Macroaxis

Please check Park City Piotroski F Score and Park City Altman Z Score analysis. Note that the Park City Group information on this page should be used as a complementary analysis to other Park City'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 Watchlist Optimization module to optimize watchlists to build efficient portfolio or rebalance existing positions based on mean-variance optimization algorithm.

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When running Park City Group price analysis, check to measure Park City'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 Park City is operating at the current time. Most of Park City's value examination focuses on studying past and present price action to predict the probability of Park City's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Park City's price. Additionally, you may evaluate how the addition of Park City to your portfolios can decrease your overall portfolio volatility.
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Is Park City'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 Park City. If investors know Park City 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 Park City 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
0.65
Market Capitalization
82.8 M
Quarterly Revenue Growth YOY
-0.24
Return On Assets
0.0526
Return On Equity
0.0929
The market value of Park City Group is measured differently than its book value, which is the value of Park City that is recorded on the company's balance sheet. Investors also form their own opinion of Park City's value that differs from its market value or its book value, called intrinsic value, which is Park City'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 Park City's market value can be influenced by many factors that don't directly affect Park City'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 Park City's value and its price as these two are different measures arrived at by different means. Investors typically determine Park City value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Park City'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.