TradeDoubler AB Beneish M-Score Historical Data
The historical data trend for TradeDoubler AB'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.
TradeDoubler AB Beneish M-Score Chart
|
TradeDoubler AB Annual Data
|
|
Trend |
Dec13 |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.21 |
-2.41 |
-2.96 |
-2.46 |
-2.52 |
|
TradeDoubler AB 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.55 |
-2.52 |
-2.71 |
-2.53 |
-2.51 |
Competitive Comparison of TradeDoubler AB's Beneish M-Score
For the Advertising Agencies subindustry, TradeDoubler AB'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.
TradeDoubler AB's Beneish M-Score Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, TradeDoubler AB's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where TradeDoubler AB's Beneish M-Score falls into.
TradeDoubler AB 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 TradeDoubler AB 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 * 1.0141 | + | 0.528 * 0.9495 | + | 0.404 * 1.0314 | + | 0.892 * 1.1778 | + | 0.115 * 0.978 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0524 | + | 4.679 * -0.039562 | - | 0.327 * 0.9647 |
| = | -2.51 |
* 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 kr442 Mil.
Revenue was 483.759 + 468.678 + 458.924 + 463.642 = kr1,875 Mil.
Gross Profit was 98.225 + 99.563 + 98.168 + 102.032 = kr398 Mil.
Total Current Assets was kr497 Mil.
Total Assets was kr1,046 Mil.
Property, Plant and Equipment(Net PPE) was kr62 Mil.
Depreciation, Depletion and Amortization(DDA) was kr47 Mil.
Selling, General, & Admin. Expense(SGA) was kr313 Mil.
Total Current Liabilities was kr574 Mil.
Long-Term Debt & Capital Lease Obligation was kr113 Mil.
Net Income was 5.961 + -1.298 + 7.308 + 9.948 = kr22 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = kr0 Mil.
Cash Flow from Operations was 2.948 + -11.565 + 39.713 + 32.223 = kr63 Mil.
|
Total Receivables was kr370 Mil.
Revenue was 388.665 + 383.251 + 403.992 + 416.063 = kr1,592 Mil.
Gross Profit was 80.092 + 81.368 + 82.586 + 76.805 = kr321 Mil.
Total Current Assets was kr457 Mil.
Total Assets was kr918 Mil.
Property, Plant and Equipment(Net PPE) was kr47 Mil.
Depreciation, Depletion and Amortization(DDA) was kr35 Mil.
Selling, General, & Admin. Expense(SGA) was kr253 Mil.
Total Current Liabilities was kr515 Mil.
Long-Term Debt & Capital Lease Obligation was kr110 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) |
| = | (442.115 / 1875.003) | / | (370.164 / 1591.971) |
| = | 0.235794 | / | 0.232519 |
| | = | 1.0141 |
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) |
| = | (320.851 / 1591.971) | / | (397.988 / 1875.003) |
| = | 0.201543 | / | 0.21226 |
| | = | 0.9495 |
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 - (496.91 + 61.882) / 1046.45) | / | (1 - (456.598 + 46.897) / 918.493) |
| = | 0.466012 | / | 0.451825 |
| | = | 1.0314 |
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 |
| = | 1875.003 | / | 1591.971 |
| | = | 1.1778 |
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)) |
| = | (34.617 / (34.617 + 46.897)) | / | (47.494 / (47.494 + 61.882)) |
| = | 0.424676 | / | 0.434227 |
| | = | 0.978 |
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) |
| = | (313.326 / 1875.003) | / | (252.78 / 1591.971) |
| = | 0.167107 | / | 0.158784 |
| | = | 1.0524 |
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) |
| = | ((113.046 + 574.144) / 1046.45) | / | ((109.892 + 515.323) / 918.493) |
| = | 0.656687 | / | 0.680697 |
| | = | 0.9647 |
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 |
| = | (21.919 - 0 | - | 63.319) | / | 1046.45 |
| | = | -0.039562 |
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.
TradeDoubler AB has a M-score of -2.51 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
LTS:0GTU has been successfully added to your