NRG Energy Beneish M-Score Historical Data
The historical data trend for NRG Energy'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.
NRG Energy Beneish M-Score Chart
|
NRG Energy Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-1.10 |
-3.19 |
0.29 |
-1.72 |
-2.65 |
|
NRG Energy Quarterly Data
|
|
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-1.72 |
65.25 |
59.37 |
0.09 |
-2.65 |
Competitive Comparison of NRG Energy's Beneish M-Score
For the Utilities - Independent Power Producers subindustry, NRG Energy'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.
NRG Energy's Beneish M-Score Distribution in the Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, NRG Energy's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where NRG Energy's Beneish M-Score falls into.
NRG Energy 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 NRG Energy 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 * 0.8121 | + | 0.528 * 1.6298 | + | 0.404 * 1.4625 | + | 0.892 * 0.9138 | + | 0.115 * 0.7597 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.7538 | + | 4.679 * -0.056994 | - | 0.327 * 1.0464 |
| = | -2.65 |
* 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 $3,542 Mil.
Revenue was 6807 + 7946 + 6348 + 7722 = $28,823 Mil.
Gross Profit was 442 + 1525 + 1386 + -1056 = $2,297 Mil.
Total Current Assets was $9,727 Mil.
Total Assets was $26,038 Mil.
Property, Plant and Equipment(Net PPE) was $1,942 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,311 Mil.
Selling, General, & Admin. Expense(SGA) was $1,968 Mil.
Total Current Liabilities was $9,500 Mil.
Long-Term Debt & Capital Lease Obligation was $10,261 Mil.
Net Income was 482 + 343 + 308 + -1335 = $-202 Mil.
Non Operating Income was 1353 + 2 + -1 + 149 = $1,503 Mil.
Cash Flow from Operations was 241 + 566 + 570 + -1598 = $-221 Mil.
|
Total Receivables was $4,773 Mil.
Revenue was 7855 + 8510 + 7282 + 7896 = $31,543 Mil.
Gross Profit was -972 + 708 + 1395 + 2966 = $4,097 Mil.
Total Current Assets was $16,231 Mil.
Total Assets was $29,146 Mil.
Property, Plant and Equipment(Net PPE) was $1,917 Mil.
Depreciation, Depletion and Amortization(DDA) was $846 Mil.
Selling, General, & Admin. Expense(SGA) was $1,228 Mil.
Total Current Liabilities was $12,982 Mil.
Long-Term Debt & Capital Lease Obligation was $8,156 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) |
| = | (3542 / 28823) | / | (4773 / 31543) |
| = | 0.122888 | / | 0.151317 |
| | = | 0.8121 |
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) |
| = | (4097 / 31543) | / | (2297 / 28823) |
| = | 0.129886 | / | 0.079693 |
| | = | 1.6298 |
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 - (9727 + 1942) / 26038) | / | (1 - (16231 + 1917) / 29146) |
| = | 0.551847 | / | 0.377342 |
| | = | 1.4625 |
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 |
| = | 28823 | / | 31543 |
| | = | 0.9138 |
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)) |
| = | (846 / (846 + 1917)) | / | (1311 / (1311 + 1942)) |
| = | 0.306189 | / | 0.403013 |
| | = | 0.7597 |
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) |
| = | (1968 / 28823) | / | (1228 / 31543) |
| = | 0.068279 | / | 0.038931 |
| | = | 1.7538 |
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) |
| = | ((10261 + 9500) / 26038) | / | ((8156 + 12982) / 29146) |
| = | 0.758929 | / | 0.725245 |
| | = | 1.0464 |
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 |
| = | (-202 - 1503 | - | -221) | / | 26038 |
| | = | -0.056994 |
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.
NRG Energy has a M-score of -2.65 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
NRG has been successfully added to your