Honeywell International Beneish M-Score Historical Data
The historical data trend for Honeywell International'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.
Honeywell International Beneish M-Score Chart
|
Honeywell International Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.64 |
-2.71 |
-2.62 |
-2.50 |
-2.47 |
|
Honeywell International Quarterly Data
|
|
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.50 |
-2.35 |
-2.43 |
-2.37 |
-2.47 |
Competitive Comparison of Honeywell International's Beneish M-Score
For the Conglomerates subindustry, Honeywell International'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.
Honeywell International's Beneish M-Score Distribution in the Conglomerates Industry
For the Conglomerates industry and Industrials sector, Honeywell International's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Honeywell International's Beneish M-Score falls into.
Honeywell International 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 Honeywell International for today is based on a combination of the following eight different indices:
| M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
| = | -4.84 | + | 0.92 * 0.9791 | + | 0.528 * 0.9923 | + | 0.404 * 1.0294 | + | 0.892 * 1.0337 | + | 0.115 * 1.0485 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9512 | + | 4.679 * -0.003267 | - | 0.327 * 1.0168 |
| = | -2.47 |
* 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.
| This Year (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $7,530 Mil.
Revenue was 9440 + 9212 + 9146 + 8864 = $36,662 Mil.
Gross Profit was 3239 + 3542 + 3520 + 3366 = $13,667 Mil.
Total Current Assets was $23,502 Mil.
Total Assets was $61,525 Mil.
Property, Plant and Equipment(Net PPE) was $5,660 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,176 Mil.
Selling, General, & Admin. Expense(SGA) was $5,127 Mil.
Total Current Liabilities was $18,539 Mil.
Long-Term Debt & Capital Lease Obligation was $17,459 Mil.
Net Income was 1263 + 1514 + 1487 + 1394 = $5,658 Mil.
Non Operating Income was 45 + 158 + 132 + 184 = $519 Mil.
Cash Flow from Operations was 2955 + 1809 + 1360 + -784 = $5,340 Mil.
|
Total Receivables was $7,440 Mil.
Revenue was 9186 + 8951 + 8953 + 8376 = $35,466 Mil.
Gross Profit was 3417 + 3357 + 3293 + 3052 = $13,119 Mil.
Total Current Assets was $24,982 Mil.
Total Assets was $62,275 Mil.
Property, Plant and Equipment(Net PPE) was $5,471 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,204 Mil.
Selling, General, & Admin. Expense(SGA) was $5,214 Mil.
Total Current Liabilities was $19,938 Mil.
Long-Term Debt & Capital Lease Obligation was $15,898 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) |
| = | (7530 / 36662) | / | (7440 / 35466) |
| = | 0.20539 | / | 0.209778 |
| | = | 0.9791 |
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) |
| = | (13119 / 35466) | / | (13667 / 36662) |
| = | 0.369904 | / | 0.372784 |
| | = | 0.9923 |
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 - (23502 + 5660) / 61525) | / | (1 - (24982 + 5471) / 62275) |
| = | 0.526014 | / | 0.510992 |
| | = | 1.0294 |
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 |
| = | 36662 | / | 35466 |
| | = | 1.0337 |
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)) |
| = | (1204 / (1204 + 5471)) | / | (1176 / (1176 + 5660)) |
| = | 0.180375 | / | 0.17203 |
| | = | 1.0485 |
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) |
| = | (5127 / 36662) | / | (5214 / 35466) |
| = | 0.139845 | / | 0.147014 |
| | = | 0.9512 |
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) |
| = | ((17459 + 18539) / 61525) | / | ((15898 + 19938) / 62275) |
| = | 0.585095 | / | 0.575448 |
| | = | 1.0168 |
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 |
| = | (5658 - 519 | - | 5340) | / | 61525 |
| | = | -0.003267 |
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.
Honeywell International has a M-score of -2.47 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
HON has been successfully added to your