Lanxess AG Beneish M-Score Historical Data
The historical data trend for Lanxess AG'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.
Lanxess AG Beneish M-Score Chart
|
Lanxess AG Annual Data
|
|
Trend |
Dec13 |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.84 |
-2.79 |
-2.39 |
-2.09 |
-2.46 |
|
Lanxess AG Quarterly Data
|
|
Dec18 |
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.53 |
-2.46 |
-2.98 |
-1.69 |
-2.24 |
Competitive Comparison of Lanxess AG's Beneish M-Score
For the Specialty Chemicals subindustry, Lanxess AG'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.
Lanxess AG's Beneish M-Score Distribution in the Chemicals Industry
For the Chemicals industry and Basic Materials sector, Lanxess AG's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Lanxess AG's Beneish M-Score falls into.
Lanxess AG 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 Lanxess AG 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 * 0.759 | + | 0.528 * 1.1665 | + | 0.404 * 1.4096 | + | 0.892 * 0.9347 | + | 0.115 * 0.9391 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0896 | + | 4.679 * 0.038818 | - | 0.327 * 0.4716 |
| = | -2.17 |
* 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 (Sep23) TTM: | Last Year (Sep22) TTM: |
Total Receivables was $742 Mil.
Revenue was 1708.645 + 1926.327 + 2033.191 + 2090.042 = $7,758 Mil.
Gross Profit was 308.431 + 336.945 + 466.809 + 480.932 = $1,593 Mil.
Total Current Assets was $3,286 Mil.
Total Assets was $11,287 Mil.
Property, Plant and Equipment(Net PPE) was $2,842 Mil.
Depreciation, Depletion and Amortization(DDA) was $611 Mil.
Selling, General, & Admin. Expense(SGA) was $1,428 Mil.
Total Current Liabilities was $1,233 Mil.
Long-Term Debt & Capital Lease Obligation was $0 Mil.
Net Income was -139.808 + 1485.374 + -47.109 + -22.246 = $1,276 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 416.222 + 71.506 + 172.377 + 177.966 = $838 Mil.
|
Total Receivables was $1,046 Mil.
Revenue was 2163.366 + 2113.108 + 2126.652 + 1897.175 = $8,300 Mil.
Gross Profit was 521.782 + 511.628 + 519.824 + 435.028 = $1,988 Mil.
Total Current Assets was $5,399 Mil.
Total Assets was $12,144 Mil.
Property, Plant and Equipment(Net PPE) was $2,807 Mil.
Depreciation, Depletion and Amortization(DDA) was $559 Mil.
Selling, General, & Admin. Expense(SGA) was $1,402 Mil.
Total Current Liabilities was $2,812 Mil.
Long-Term Debt & Capital Lease Obligation was $0 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) |
| = | (741.729 / 7758.205) | / | (1045.545 / 8300.301) |
| = | 0.095606 | / | 0.125965 |
| | = | 0.759 |
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) |
| = | (1988.262 / 8300.301) | / | (1593.117 / 7758.205) |
| = | 0.239541 | / | 0.205346 |
| | = | 1.1665 |
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 - (3286.019 + 2842.049) / 11287.086) | / | (1 - (5399.01 + 2806.931) / 12143.564) |
| = | 0.457073 | / | 0.324256 |
| | = | 1.4096 |
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 |
| = | 7758.205 | / | 8300.301 |
| | = | 0.9347 |
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)) |
| = | (559.317 / (559.317 + 2806.931)) | / | (610.9 / (610.9 + 2842.049)) |
| = | 0.166154 | / | 0.176921 |
| | = | 0.9391 |
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) |
| = | (1427.889 / 7758.205) | / | (1402.083 / 8300.301) |
| = | 0.184049 | / | 0.16892 |
| | = | 1.0896 |
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) |
| = | ((0 + 1232.657) / 11287.086) | / | ((0 + 2811.881) / 12143.564) |
| = | 0.109209 | / | 0.231553 |
| | = | 0.4716 |
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 |
| = | (1276.211 - 0 | - | 838.071) | / | 11287.086 |
| | = | 0.038818 |
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.
Lanxess AG has a M-score of -2.17 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
LNXSF has been successfully added to your