Blackstone Minerals
Blackstone Minerals Limited explores for and develops gold, cobalt, and nickel properties. The last earnings update was 40 days ago. More info.
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- Blackstone Minerals has significant price volatility in the past 3 months.
BSX Share Price and Events
7 Day Returns
1 Year Returns
BSX Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Blackstone Minerals (BSX) | -5.7% | -27.5% | -32% | -84.1% | - | - |
| AU Metals and Mining | -3.2% | 0.5% | 12.6% | 10.6% | 72.3% | 7.8% |
| AU Market | -0% | 1% | 6.3% | 4.9% | 18.2% | 4.8% |
1 Year Return vs Industry and Market
- BSX underperformed the Metals and Mining industry which returned 10.6% over the past year.
- BSX underperformed the Market in Australia which returned 4.9% over the past year.
Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
- It is not possible to calculate the future cash flow value for Blackstone Minerals. This is due to cash flow or dividend data being unavailable. The share price is A$0.066.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Blackstone Minerals's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Blackstone Minerals's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in AUD | A$-0.06 |
| ASX:BSX Share Price ** | ASX (2019-04-18) in AUD | A$0.07 |
| Australia Metals and Mining Industry PE Ratio | Median Figure of 78 Publicly-Listed Metals and Mining Companies | 12.55x |
| Australia Market PE Ratio | Median Figure of 544 Publicly-Listed Companies | 16.14x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Blackstone Minerals.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = ASX:BSX Share Price ÷ EPS (both in AUD) = 0.07 ÷ -0.06 |
-1.11x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Blackstone Minerals is loss making, we can't compare its value to the AU Metals and Mining industry average.
- Blackstone Minerals is loss making, we can't compare the value of its earnings to the Australia market.
Price based on expected Growth
Does
Blackstone Minerals's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | -1.11x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts |
Not available |
| Australia Metals and Mining Industry PEG Ratio | Median Figure of 38 Publicly-Listed Metals and Mining Companies | 0.65x |
| Australia Market PEG Ratio | Median Figure of 360 Publicly-Listed Companies | 1.35x |
*Line of best fit is calculated by linear regression .
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to calculate PEG ratio for Blackstone Minerals, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Blackstone Minerals's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in AUD | A$0.10 |
| ASX:BSX Share Price * | ASX (2019-04-18) in AUD | A$0.07 |
| Australia Metals and Mining Industry PB Ratio | Median Figure of 584 Publicly-Listed Metals and Mining Companies | 1.52x |
| Australia Market PB Ratio | Median Figure of 1,676 Publicly-Listed Companies | 1.67x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = ASX:BSX Share Price ÷ Book Value per Share (both in AUD) = 0.07 ÷ 0.10 |
0.63x |
* Primary Listing of Blackstone Minerals.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Blackstone Minerals is good value based on assets compared to the AU Metals and Mining industry average.
Value checks
We assess Blackstone Minerals's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check) Blackstone Minerals has a total score of 1/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Blackstone Minerals has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.
Show me the analysis anyway
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Unable to compare Blackstone Minerals's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
- Unable to compare Blackstone Minerals's earnings growth to the Australia market average as no estimate data is available.
- Unable to compare Blackstone Minerals's revenue growth to the Australia market average as no estimate data is available.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| Australia Metals and Mining Industry Earnings Growth Rate | Market Cap Weighted Average | 1.2% |
| Australia Metals and Mining Industry Revenue Growth Rate | Market Cap Weighted Average | 0.5% |
| Australia Market Earnings Growth Rate | Market Cap Weighted Average | 6.6% |
| Australia Market Revenue Growth Rate | Market Cap Weighted Average | 3.1% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 0 Analyst Estimates (S&P Global) | See Below |
| Date (Data in AUD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 0 | -5 | -6 |
| 2018-09-30 | 0 | -4 | -7 |
| 2018-06-30 | 0 | -3 | -8 |
| 2017-12-31 | 0 | -2 | -7 |
| 2017-09-30 | 0 | -1 | -4 |
| 2017-06-30 | 0 | -1 | -1 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 0 Analyst Estimates (S&P Global) | See Below |
All data from Blackstone Minerals Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in AUD Millions) | EPS * |
|---|---|
| 2018-12-31 | -0.06 |
| 2018-09-30 | -0.09 |
| 2018-06-30 | -0.13 |
| 2017-12-31 | -0.17 |
| 2017-09-30 | -0.06 |
| 2017-06-30 | -0.06 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Unable to establish if Blackstone Minerals will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess Blackstone Minerals's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Australia market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Blackstone Minerals has a total score of 0/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has Blackstone Minerals performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Blackstone Minerals does not make a profit and there is insufficient past data to establish if their 5 year on year earnings growth rate was positive.
- Unable to compare Blackstone Minerals's 1-year earnings growth to the 5-year average as it is not currently profitable.
- Unable to compare Blackstone Minerals's 1-year growth to the AU Metals and Mining industry average as it is not currently profitable.
Earnings and Revenue History
All data from Blackstone Minerals Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in AUD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 0.13 | -5.53 | 5.54 | |
| 2018-09-30 | 0.09 | -6.98 | 6.96 | |
| 2018-06-30 | 0.05 | -8.44 | 8.38 | |
| 2017-12-31 | 0.04 | -6.51 | 6.45 | |
| 2017-09-30 | 0.03 | -3.76 | 3.73 | |
| 2017-06-30 | 0.02 | -1.04 | 1.02 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- It is difficult to establish if Blackstone Minerals has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
- It is difficult to establish if Blackstone Minerals has efficiently used its assets last year compared to the AU Metals and Mining industry average (Return on Assets) as it is loss-making.
- It is difficult to establish if Blackstone Minerals improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
Past performance checks
We assess Blackstone Minerals's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Blackstone Minerals has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is Blackstone Minerals's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Blackstone Minerals's finances.
The net worth of a company is the difference between its assets and liabilities.
- Blackstone Minerals is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Blackstone Minerals has no long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Blackstone Minerals has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Blackstone Minerals Company Filings, last reported 3 months ago.
| Date (Data in AUD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 11.35 | 0.00 | 1.20 |
| 2018-09-30 | 11.35 | 0.00 | 1.20 |
| 2018-06-30 | 12.59 | 0.00 | 3.06 |
| 2017-12-31 | 11.97 | 0.00 | 2.18 |
| 2017-09-30 | 11.97 | 0.00 | 2.18 |
| 2017-06-30 | 4.16 | 0.00 | 2.62 |
- Blackstone Minerals has no debt.
- Blackstone Minerals has not taken on any debt in the past 5 years.
CASH RUNWAY ANALYSIS
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
- Blackstone Minerals has less than a year of cash runway based on current free cash flow.
- Blackstone Minerals has less than a year of cash runway if free cash flow continues to grow at historical rates of 94.3% each year.
Financial health checks
We assess Blackstone Minerals's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Blackstone Minerals has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is Blackstone Minerals's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
A$2,000 of
Blackstone Minerals
shares you are expected to receive
A$0
in your first year as a dividend.
Dividend Amount
- Unable to evaluate Blackstone Minerals's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
- Unable to evaluate Blackstone Minerals's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 0 Analyst Estimates (S&P Global) | See Below |
| Australia Metals and Mining Industry Average Dividend Yield | Market Cap Weighted Average of 36 Stocks | 3.7% |
| Australia Market Average Dividend Yield | Market Cap Weighted Average of 417 Stocks | 4.3% |
| Australia Minimum Threshold Dividend Yield | 10th Percentile | 1.6% |
| Australia Bottom 25% Dividend Yield | 25th Percentile | 2.5% |
| Australia Top 25% Dividend Yield | 75th Percentile | 5.8% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to perform a dividend volatility check as Blackstone Minerals has not reported any payouts.
- Unable to verify if Blackstone Minerals's dividend has been increasing as the company has not reported any payouts.
Income/ dividend checks
We assess Blackstone Minerals's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Blackstone Minerals afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Blackstone Minerals has a total score of 0/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | A$258,656 |
| TENURE AS CEO | 1.4 years |
CEO Bio
Mr. Scott Williamson is a Managing Director at Blackstone Minerals Limited since October 2017. Mr. Williamson served as Investor Relations Manager at Resolute Mining Limited, where he was responsible for marketing, communications and managing relationships with analysts, stockbrokers and institutional investors. Prior to this, Mr. Williamson served as a Resources Analyst at Hartleys Research from August 2013 to September 2016, responsible for the analysis and valuation of mining equities, advising institutional and sophisticated investors. He has been Director at Blackstone Minerals Limited since October 2017. Mr. Williamson has a unique blend of experience in mining and finance and his corporate and technical expertise. He has over 10 years' experience in the mining and finance sectors across a variety of technical and corporate roles. Mr. Williamson has a background in operations management with experience in gold and base metals projects across Australia and Africa, having worked with major resources companies, mining contractors and small to mid-cap miners. He holds a WA First Class Mine Managers Certificate of Competency. Mr. Williamson is a Mining Engineer with a Bachelor of Commerce degree from the West Australian School of Mines, Curtin University.
CEO Compensation
- Insufficient data for Scott to compare compensation growth.
- Scott's remuneration is about average for companies of similar size in Australia.
Management Team Tenure
Average tenure of the Blackstone Minerals management team in years:
- The average tenure for the Blackstone Minerals management team is less than 2 years, this suggests a new team.
Management Team
Scott Williamson
MD & Director
A$259K
1.4 yrs
Jamie Byrde
Joint Company Secretary & CFO
A$209K
2.1 yrs
Andrew Radonjic
Technical Director & Director
A$797K
54
Stuart Owen
Exploration Manager
2.7 yrs
Mike Naylor
Joint Company Secretary
43
1.5 yrs
Board of Directors Tenure
Average tenure and age of the Blackstone Minerals board of directors in years:
- The average tenure for the Blackstone Minerals board of directors is less than 3 years, this suggests a new board.
Board of Directors
Hamish Halliday
Independent Non-Executive Chairman
A$1M
45
2.7 yrs
Scott Williamson
MD & Director
A$259K
1.4 yrs
Andrew Radonjic
Technical Director & Director
A$797K
54
2.7 yrs
Michael Konnert
Non-Executive Director
A$30K
1.5 yrs
Steve Parsons
Non-Executive Director
A$979K
45
1.5 yrs
Who owns this company?
Recent Insider Trading
- More shares have been bought than sold by Blackstone Minerals insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (A$) | Value (A$) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 20. Mar 19 | Buy | DELPHI Unternehmensberatung AG | Company | 18. Mar 19 | 18. Mar 19 | 2,355,000 | A$0.09 | A$200,176 | ||
| 07. Feb 19 | Buy | Scott Williamson | Individual | 06. Feb 19 | 06. Feb 19 | 250,000 | A$0.07 | A$16,500 | ||
| 08. Jan 19 | Buy | Scott Williamson | Individual | 04. Jan 19 | 08. Jan 19 | 213,566 | A$0.11 | A$23,492 | ||
| 01. Jan 19 | Buy | Scott Williamson | Individual | 24. Dec 18 | 24. Dec 18 | 186,434 | A$0.11 | A$20,508 | ||
| 21. Dec 18 | Buy | DELPHI Unternehmensberatung AG | Company | 29. Aug 18 | 20. Dec 18 | 2,663,322 | A$0.13 | A$281,703 | ||
| 21. Dec 18 | Buy | Deutsche Balaton AG | Company | 20. Dec 18 | 20. Dec 18 | 5,000,000 | A$0.10 | A$499,999 | ||
| 21. Dec 18 | Sell | Goldbridge Mining Ltd. | Company | 12. Jan 18 | 19. Dec 18 | -1,174,251 | A$0.50 | A$-548,542 | ||
Management checks
We assess Blackstone Minerals's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Blackstone Minerals has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
Easy Come, Easy Go: How Blackstone Minerals (ASX:BSX) Shareholders Got Unlucky And Saw 77% Of Their Cash Evaporate
So spare a thought for the long term shareholders of Blackstone Minerals Limited (ASX:BSX); the share price is down a whopping 77% in the last twelve months. … Blackstone Minerals recorded just AU$125,181 in revenue over the last twelve months, which isn't really enough for us to consider it to have a proven product. … It seems likely some shareholders believe that Blackstone Minerals will find or develop a valuable new mine before too long.
Simply Wall St - – Full articleWhat You Must Know About Blackstone Minerals Limited's (ASX:BSX) Financial Strength
However, it also faces higher cost of capital given interest cost is generally lower than equity. … Is financial flexibility worth the lower cost of capital. … Debt capital generally has lower cost of capital compared to equity funding
Simply Wall St - – Full articleCompany Info
Description
Blackstone Minerals Limited explores for and develops gold, cobalt, and nickel properties. It primarily holds interests in the Red Gate project, including one granted exploration license covering an area of 145.2 square kilometers located to the northeast of Kalgoorlie, Western Australia; Silver Swan South project, which comprises one exploration license application and six granted prospecting licenses covering an area of 38.5 square kilometers located near Kalgoorlie in the Eastern Goldfields of Western Australia; and the Middle Creek project that consists 22 prospecting license applications covering an area of 39.7 square kilometers located in the Pilbara region of Western Australia. The company also holds interests in the Little Gem project located in British Columbia, Canada; and Cartier project located to the north-east of Quebec, Canada. Blackstone Minerals Limited was incorporated in 2016 and is based in West Perth, Australia.
Details
| Name: | Blackstone Minerals Limited |
| BSX | |
| Exchange: | ASX |
| Founded: | 2016 |
| A$7,405,514 | |
| 112,204,766 | |
| Website: | http://www.blackstoneminerals.com.au |
| Address: |
Blackstone Minerals Limited 24 Outram Street, Suite 3, West Perth, Western Australia, 6005, Australia |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| ASX | BSX | Ordinary Shares | Australian Securities Exchange | AU | AUD | 23. Jan 2017 |
Number of employees
Current staff
Industry
| Gold | |
| Materials |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/22 10:35 |
| End of day share price update: | 2019/04/18 00:00 |
| Last earnings filing: | 2019/03/13 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/06/30 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
