Maxim Integrated Products Beneish M-Score Historical Data
The historical data trend for Maxim Integrated Products'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.
Maxim Integrated Products Beneish M-Score Chart
|
Maxim Integrated Products Annual Data
|
|
Trend |
Jun12 |
Jun13 |
Jun14 |
Jun15 |
Jun16 |
Jun17 |
Jun18 |
Jun19 |
Jun20 |
Jun21 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.77 |
-2.77 |
-2.14 |
-2.47 |
-2.11 |
|
Maxim Integrated Products Quarterly Data
|
|
Sep16 |
Dec16 |
Mar17 |
Jun17 |
Sep17 |
Dec17 |
Mar18 |
Jun18 |
Sep18 |
Dec18 |
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.47 |
-2.45 |
-2.21 |
-2.14 |
-2.11 |
Competitive Comparison of Maxim Integrated Products's Beneish M-Score
For the Semiconductors subindustry, Maxim Integrated Products'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.
Maxim Integrated Products's Beneish M-Score Distribution in the Semiconductors Industry
For the Semiconductors industry and Technology sector, Maxim Integrated Products's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Maxim Integrated Products's Beneish M-Score falls into.
Maxim Integrated Products 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 Maxim Integrated Products 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 * 1.3549 | + | 0.528 * 0.9777 | + | 0.404 * 0.7912 | + | 0.892 * 1.2013 | + | 0.115 * 1.1113 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8998 | + | 4.679 * -0.021776 | - | 0.327 * 0.9052 |
| = | -2.11 |
* 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 (Jun21) TTM: | Last Year (Jun20) TTM: |
Total Receivables was $659 Mil.
Revenue was 719.855 + 665.029 + 628.288 + 619.357 = $2,633 Mil.
Gross Profit was 484.025 + 442.885 + 416.422 + 417.014 = $1,760 Mil.
Total Current Assets was $3,218 Mil.
Total Assets was $4,523 Mil.
Property, Plant and Equipment(Net PPE) was $554 Mil.
Depreciation, Depletion and Amortization(DDA) was $96 Mil.
Selling, General, & Admin. Expense(SGA) was $321 Mil.
Total Current Liabilities was $637 Mil.
Long-Term Debt & Capital Lease Obligation was $995 Mil.
Net Income was 253.739 + 220.063 + 183.945 + 169.514 = $827 Mil.
Non Operating Income was 13.792 + -0.155 + -3.327 + -8.813 = $1 Mil.
Cash Flow from Operations was 279.81 + 271.44 + 210.499 + 162.511 = $924 Mil.
|
Total Receivables was $405 Mil.
Revenue was 545.369 + 561.916 + 551.07 + 533.04 = $2,191 Mil.
Gross Profit was 362.368 + 366.437 + 360.524 + 343.323 = $1,433 Mil.
Total Current Assets was $2,318 Mil.
Total Assets was $3,629 Mil.
Property, Plant and Equipment(Net PPE) was $550 Mil.
Depreciation, Depletion and Amortization(DDA) was $109 Mil.
Selling, General, & Admin. Expense(SGA) was $297 Mil.
Total Current Liabilities was $453 Mil.
Long-Term Debt & Capital Lease Obligation was $994 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) |
| = | (658.829 / 2632.529) | / | (404.778 / 2191.395) |
| = | 0.250265 | / | 0.184712 |
| | = | 1.3549 |
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) |
| = | (1432.652 / 2191.395) | / | (1760.346 / 2632.529) |
| = | 0.653763 | / | 0.66869 |
| | = | 0.9777 |
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 - (3218.285 + 554.339) / 4523.099) | / | (1 - (2317.829 + 550.406) / 3629.303) |
| = | 0.165921 | / | 0.209701 |
| | = | 0.7912 |
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 |
| = | 2632.529 | / | 2191.395 |
| | = | 1.2013 |
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)) |
| = | (108.533 / (108.533 + 550.406)) | / | (96.456 / (96.456 + 554.339)) |
| = | 0.164709 | / | 0.148213 |
| | = | 1.1113 |
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) |
| = | (320.722 / 2632.529) | / | (296.722 / 2191.395) |
| = | 0.12183 | / | 0.135403 |
| | = | 0.8998 |
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) |
| = | ((995.46 + 637.312) / 4523.099) | / | ((994.022 + 453.334) / 3629.303) |
| = | 0.360985 | / | 0.398797 |
| | = | 0.9052 |
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 |
| = | (827.261 - 1.497 | - | 924.26) | / | 4523.099 |
| | = | -0.021776 |
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.
Maxim Integrated Products has a M-score of -2.11 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
MXIM has been successfully added to your