LoJack Beneish M-Score Historical Data
The historical data trend for LoJack'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.
LoJack Beneish M-Score Chart
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LoJack Annual Data
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Trend |
Dec06 |
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Dec10 |
Dec11 |
Dec12 |
Dec13 |
Dec14 |
Dec15 |
| Beneish M-Score |
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-2.59 |
-3.31 |
-1.65 |
-2.97 |
-2.97 |
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LoJack Quarterly Data
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Mar11 |
Jun11 |
Sep11 |
Dec11 |
Mar12 |
Jun12 |
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Mar13 |
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Mar14 |
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Dec14 |
Mar15 |
Jun15 |
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Dec15 |
| Beneish M-Score |
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-2.97 |
-3.16 |
-3.22 |
-2.79 |
-2.97 |
Competitive Comparison of LoJack's Beneish M-Score
For the Security & Protection Services subindustry, LoJack'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.
LoJack's Beneish M-Score Distribution in the Business Services Industry
For the Business Services industry and Industrials sector, LoJack's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where LoJack's Beneish M-Score falls into.
LoJack 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 LoJack 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 * 1.0553 | + | 0.528 * 0.8278 | + | 0.404 * 1.0521 | + | 0.892 * 0.9699 | + | 0.115 * 0.7921 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8754 | + | 4.679 * -0.102865 | - | 0.327 * 0.8556 |
| = | -2.96 |
* 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.
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) |
| = | (24.528 / 129.551) | / | (23.963 / 133.568) |
| = | 0.189331 | / | 0.179407 |
| | = | 1.0553 |
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) |
| = | (60.122 / 133.568) | / | (70.445 / 129.551) |
| = | 0.450123 | / | 0.543763 |
| | = | 0.8278 |
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 - (56.909 + 15.372) / 78.005) | / | (1 - (54.15 + 16.791) / 76.26) |
| = | 0.07338 | / | 0.069748 |
| | = | 1.0521 |
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 |
| = | 129.551 | / | 133.568 |
| | = | 0.9699 |
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)) |
| = | (3.713 / (3.713 + 16.791)) | / | (4.556 / (4.556 + 15.372)) |
| = | 0.181087 | / | 0.228623 |
| | = | 0.7921 |
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) |
| = | (57.584 / 129.551) | / | (67.818 / 133.568) |
| = | 0.444489 | / | 0.507741 |
| | = | 0.8754 |
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) |
| = | ((7.478 + 29.928) / 78.005) | / | ((6.978 + 35.764) / 76.26) |
| = | 0.479533 | / | 0.560477 |
| | = | 0.8556 |
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 |
| = | (3.199 - 1.714 | - | 9.509) | / | 78.005 |
| | = | -0.102865 |
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.
LoJack has a M-score of -2.96 suggests that the company is unlikely to be a manipulator.
LoJack (LoJack) Business Description
Traded in Other Exchanges
N/A
Address
LoJack Corp was organized as a Massachusetts corporation in 1978. The Company is a provider of technology products and services for the tracking and recovery of valuable mobile assets and people at risk of wandering, or people at risk. It also offers fleet telematics solutions designed for monitoring and managing fleets ranging from 5 to 5,000 vehicles. These solutions can be customized to meet the safety, security and protection needs of a wide-range of companies in the world of the connected car. The Company has three business segments: North America, International and All Other. Its North America segment is comprised of its domestic operations, which sell products that operate in 28 states and the District of Columbia in the United States, and its Canadian operations provide recovery products and services in the Provinces of Ontario and Quebec. The International segment sells products and licenses or owns and operates LoJack proprietary vehicle recovery technology in 30 countries and territories throughout Europe, Africa and Latin America and through its wholly owned subsidiary in Italy, LoJack Italia, SRL, or LoJack Italia. The All Other segment includes LoJack SafetyNet Inc., which provides technology for the tracking and rescue of people at risk of wandering, or people at risk, and LoJack SC-Integrity, Inc., which provides technology for the tracking and recovery of valuable cargo and business information. The Company's LoJack Stolen Vehicle Recovery System is based on very high frequency technology. In the United States, the LoJack System is comprised of three components: a Registration System, which it maintains and operates; Sector Activation System and Vehicle Tracking Units referred to as the Law Enforcement Components, each of which is maintained by the Company and operated by law enforcement officials; and a LoJack Unit, which is installed in customers' vehicles or equipment. The Company's LoJack Unit consists of a VHF transponder with a hidden antenna; microprocessor and power supply and contains a set of secret codes unique to the LoJack Unit. The LoJack Early Warning is sold as an optional component of the LoJack System, provides early notification to a vehicle or motorcycle owner in the event of operation by an unauthorized user; and consists of a uniquely coded key pass and a motion sensor that works with the LoJack Unit to monitor vehicle movement and detect the presence of the registered owner's key pass. LoJack for Construction Equipment is designed for installation on heavy equipment. LoJack for Motorcycles is designed specifically for installation in on road motorcycles. It also offers warranty products such as LoJack Extended Limited Recovery Warranty, LoJack Guarantee Plus 5000 and LoJack Protection Plus 5000. The LoJack Fleet Management system is comprised of a GPS-based location device; a Software as a Service based application used for tracking, monitoring and reporting from desktop browser to smartpho
Executives
| Kenneth L Dumas |
officer: SVP, CFO & Treasurer |
26 SUMMER STREET, BRIDGEWATER MA 02324 |
| Alan Lee Bazaar |
director |
9 BEDFORD ROAD, KATONAH NY 10536 |
| Phil Horlock |
director |
C/O LOJACK CORPORATION, 40 PEQUOT WAY, CANTON MA 02021 |
| Rory J Cowan |
director |
C/O LIONBRIDGE TECHNOLOGIES INC, 950 WINTER STREET SUITE 2410, WALTHAM MA 02451 |
| Randy L. Ortiz |
director, officer: President and CEO |
C/O TELENAV, INC. 4655 GREAT AMERICA PARKWAY, SUITE 300 SANTA CLARA CA 95054 |
| John A. Janitz |
director |
6644 CORNERSTONE LANE, ROCHESTER HILLS MI 48306 |
| Robert J Murray |
director |
C/O NEW ENGLAND BUSINESS SERVICE INC, 500 MAIN STREET, GROTON MA 01471 |
| Robert L Rewey |
director |
401 LONE PINE COURT, BLOOMFIELD HILLS MI 48304 |
| Richard T Riley |
director |
C/O NEW ENGLAND BUSINESS SERVICE INC, 500 MAIN ST, GROTON MA 01471 |
| Maria Renna Sharpe |
director |
11 EDWARDS COURT, MT. KISCO NY 10549 |
| Ronald V Waters |
director, officer: CEO and President |
75 EAST ELM STREET, CHICAGO IL 60611 |
| Keith E Farris |
officer: VP (Finance) & CFO |
200 LOWDER BBROOK DR STE 1000, WESTWOOD MA 02090 |
| Larry C Renfro |
director |
200 BRICKSTONE SQUARE, 5TH FLOOR, ANDOVER MA 01810 |
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