Atmel (ATML) Beneish M-Score : 0.00 (As of Apr. 26, 2024)

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What is Atmel Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for Atmel's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Atmel was 0.00. The lowest was 0.00. And the median was 0.00.

Atmel Beneish M-Score Historical Data

The historical data trend for Atmel's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Atmel Beneish M-Score Chart

Atmel Annual Data

Trend

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Beneish M-Score

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-2.26

-3.02

-2.76

-2.90

-2.83

Atmel Quarterly Data
	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15
Beneish M-Score	Get a 7-Day Free Trial															-2.90	-2.86	-2.84	-3.10	-2.83

Competitive Comparison of Atmel's Beneish M-Score

For the Semiconductors subindustry, Atmel's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Atmel's Beneish M-Score Distribution in the Semiconductors Industry

For the Semiconductors industry and Technology sector, Atmel's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Atmel's Beneish M-Score falls into.

Atmel Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Atmel for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.0599

0.528 * 0.9451

0.404 * 1.1422

0.892 * 0.8296

0.115 * 0.9317

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1343

4.679 * -0.069805

0.327 * 0.7805

-2.83

This Year (Dec15) TTM:

Last Year (Dec14) TTM:

Total Receivables was $205 Mil.
Revenue was 261.282 + 286.533 + 306.353 + 318.288 = $1,172 Mil.
Gross Profit was 121.06 + 133.356 + 141.314 + 147.297 = $543 Mil.
Total Current Assets was $698 Mil.
Total Assets was $1,260 Mil.
Property, Plant and Equipment(Net PPE) was $131 Mil.
Depreciation, Depletion and Amortization(DDA) was $55 Mil.
Selling, General, & Admin. Expense(SGA) was $247 Mil.
Total Current Liabilities was $211 Mil.
Long-Term Debt & Capital Lease Obligation was $55 Mil.
Net Income was 4.698 + -0.614 + 6.312 + 16.495 = $27 Mil.
Non Operating Income was 3.826 + 0.536 + 0.443 + 4.293 = $9 Mil.
Cash Flow from Operations was 9.116 + 30.594 + 25.931 + 40.135 = $106 Mil.

Total Receivables was $233 Mil.
Revenue was 345.954 + 374.485 + 355.534 + 337.361 = $1,413 Mil.
Gross Profit was 140.559 + 176.843 + 161.238 + 139.99 = $619 Mil.
Total Current Assets was $796 Mil.
Total Assets was $1,362 Mil.
Property, Plant and Equipment(Net PPE) was $158 Mil.
Depreciation, Depletion and Amortization(DDA) was $60 Mil.
Selling, General, & Admin. Expense(SGA) was $262 Mil.
Total Current Liabilities was $294 Mil.
Long-Term Debt & Capital Lease Obligation was $75 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(204.821 / 1172.456)	/	(232.955 / 1413.334)
	=	0.174694	/	0.164827
	=	1.0599

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(618.63 / 1413.334)	/	(543.027 / 1172.456)
	=	0.43771	/	0.463153
	=	0.9451

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (698.408 + 131.154) / 1260.418)	/	(1 - (796.301 + 158.281) / 1362.304)
	=	0.341836	/	0.299289
	=	1.1422

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	1172.456	/	1413.334
	=	0.8296

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(60.152 / (60.152 + 158.281))	/	(55.028 / (55.028 + 131.154))
	=	0.27538	/	0.29556
	=	0.9317

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(246.559 / 1172.456)	/	(262.031 / 1413.334)
	=	0.210293	/	0.185399
	=	1.1343

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((55 + 211.192) / 1260.418)	/	((75 + 293.635) / 1362.304)
	=	0.211193	/	0.270597
	=	0.7805

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(26.891 - 9.098	-	105.776)	/	1260.418
	=	-0.069805

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Atmel has a M-score of -2.83 suggests that the company is unlikely to be a manipulator.

Atmel Beneish M-Score Related Terms

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Atmel (ATML) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Semiconductors » Atmel Corp (NAS:ATML) » Definitions » Beneish M-Score

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Traded in Other Exchanges

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Address

Website

http://www.atmel.com

Atmel Corp was originally incorporated in California on December 5, 1984 and was reincorporated in Delaware in October 1999. The Company designs, develops and supplies microcontrollers, which are self-contained computers-on-a-chip. It organizes its business into four reportable operating segments; Microcontrollers, Nonvolatile Memories, Radio Frequency, and Application Specific Integrated Circuits. Its Microcontrollers segment includes Atmel's maXTouch capacitive touch product families and its general purpose microcontroller and microprocessor families, AVR 8-bit and 32-bit products, ARM based products, Atmel's 8051 8-bit products, designated commercial wireless products, including low power radio and SOC products that meet Zigbee and Wi-Fi specifications and optimized products for mobile sensor hub, smart energy, touch button and LED lighting applications. Its Nonvolatile Memories segment includes electrically erasable programmable read-only "EEPROM" and erasable programmable read-only memory "EPROM" devices. Its Radio Frequency and Automotive segment includes automotive electronics, wireless and wired devices for industrial, consumer and automotive applications and foundry services. Its Application Specific Integrated Circuits segment includes custom application specific integrated circuits designed to meet specialized single-customer requirements for its high performance devices, including products that provide hardware security for embedded digital systems, products with military and aerospace applications and application specific standard products for space applications, power management and secure cryptographic memory products. The Company markets its products in various countries to a diverse base of OEMs serving commercial markets. It also sells its products to OEM accounts through its direct sales force, using manufacturers' representatives or through national and regional distributors. It sells its products in United States, Asia and Europe. Throughout its product line, the Company competes with a number of semiconductor manufacturers, such as Cypress, Freescale, Infineon, Intel, Microchip, NXP Semiconductors, ON Semiconductor, Renesas, Samsung, Silicon Labs, Spansion, STMicroelectronics, Synaptics, and Texas Instruments. The Company relies on patents, copyrights, trademarks and trade secrets, as well as nondisclosure agreements and other methods to protect its proprietary technologies and processes.

Executives

Steven Laub	director, officer: President & CEO	5555 NE MOORE CT., HILLSBORO OR 97124
Stephen A Skaggs	officer: SVP & CFO	5555 NE MOORE CT., HILLSBORO OR 97124
Charles Carinalli	director
David Sugishita	director	2325 ORCHARD PARKWAY, SAN JOSE CA 95131
Jack L Saltich	director	9460 NORTH 57TH STREET, PARADISE VALLEY AZ 85253
Papken Der Torossian	director	1250 RELIANCE WAY, FREMONT CA 94539
Jamie Samath	officer: VP & Corporate Controller	NATIONAL SEMICONDUCTOR, 2900 SEMICONDUCTOR DR, M/S C1-640, SANTA CLARA CA 95051
Stephen Cumming	officer: VP Finance and CFO	2325 ORCHARD PARKWAY, SAN JOSE CA 95131
Walter Lifsey	officer: EVP & Chief Operating Officer	C/O GATES INDUSTRIAL CORPORATION PLC, 1144 FIFTEENTH STREET, SUITE 1400, DENVER CO 80202
T Peter Thomas	director	3000 SAND HILL ROAD, 2-290 MENLO PARK CA 94025
Francis P Barton	director	C/O INVENTERGY GLOBAL, INC., 900 E. HAMILTON AVENUE, SUITE 180, CAMPBELL CA 95008