Seagate Technology Holdings Beneish M-Score Historical Data
The historical data trend for Seagate Technology Holdings'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.
Seagate Technology Holdings Beneish M-Score Chart
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Seagate Technology Holdings Annual Data
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Jun14 |
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Jun20 |
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Jun23 |
| Beneish M-Score |
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-2.49 |
-2.60 |
-2.70 |
-2.23 |
-3.50 |
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Seagate Technology Holdings Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
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Dec23 |
| Beneish M-Score |
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-3.18 |
-3.07 |
-3.50 |
-3.32 |
-3.27 |
Competitive Comparison of Seagate Technology Holdings's Beneish M-Score
For the Computer Hardware subindustry, Seagate Technology Holdings'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.
Seagate Technology Holdings's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Seagate Technology Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Seagate Technology Holdings's Beneish M-Score falls into.
Seagate Technology Holdings 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 Seagate Technology Holdings 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 * 1.0203 | + | 0.528 * 1.3991 | + | 0.404 * 1.1892 | + | 0.892 * 0.6919 | + | 0.115 * 1.0783 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1955 | + | 4.679 * -0.16296 | - | 0.327 * 1.1113 |
| = | -3.27 |
* 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 $593 Mil.
Revenue was 1555 + 1454 + 1602 + 1860 = $6,471 Mil.
Gross Profit was 362 + 149 + 304 + 319 = $1,134 Mil.
Total Current Assets was $2,628 Mil.
Total Assets was $7,149 Mil.
Property, Plant and Equipment(Net PPE) was $1,642 Mil.
Depreciation, Depletion and Amortization(DDA) was $368 Mil.
Selling, General, & Admin. Expense(SGA) was $450 Mil.
Total Current Liabilities was $2,529 Mil.
Long-Term Debt & Capital Lease Obligation was $5,669 Mil.
Net Income was -19 + -184 + -92 + -433 = $-728 Mil.
Non Operating Income was -16 + 62 + -25 + -326 = $-305 Mil.
Cash Flow from Operations was 169 + 127 + 218 + 228 = $742 Mil.
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Total Receivables was $840 Mil.
Revenue was 1887 + 2035 + 2628 + 2802 = $9,352 Mil.
Gross Profit was 246 + 482 + 759 + 806 = $2,293 Mil.
Total Current Assets was $3,081 Mil.
Total Assets was $7,867 Mil.
Property, Plant and Equipment(Net PPE) was $2,122 Mil.
Depreciation, Depletion and Amortization(DDA) was $522 Mil.
Selling, General, & Admin. Expense(SGA) was $544 Mil.
Total Current Liabilities was $2,725 Mil.
Long-Term Debt & Capital Lease Obligation was $5,393 Mil.
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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) |
| = | (593 / 6471) | / | (840 / 9352) |
| = | 0.09164 | / | 0.08982 |
| | = | 1.0203 |
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) |
| = | (2293 / 9352) | / | (1134 / 6471) |
| = | 0.245188 | / | 0.175243 |
| | = | 1.3991 |
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 - (2628 + 1642) / 7149) | / | (1 - (3081 + 2122) / 7867) |
| = | 0.402714 | / | 0.33863 |
| | = | 1.1892 |
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 |
| = | 6471 | / | 9352 |
| | = | 0.6919 |
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)) |
| = | (522 / (522 + 2122)) | / | (368 / (368 + 1642)) |
| = | 0.197428 | / | 0.183085 |
| | = | 1.0783 |
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) |
| = | (450 / 6471) | / | (544 / 9352) |
| = | 0.069541 | / | 0.058169 |
| | = | 1.1955 |
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) |
| = | ((5669 + 2529) / 7149) | / | ((5393 + 2725) / 7867) |
| = | 1.146734 | / | 1.031905 |
| | = | 1.1113 |
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 |
| = | (-728 - -305 | - | 742) | / | 7149 |
| | = | -0.16296 |
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.
Seagate Technology Holdings has a M-score of -3.27 suggests that the company is unlikely to be a manipulator.
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