Callon Petroleum Co Beneish M-Score Historical Data
The historical data trend for Callon Petroleum Co'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.
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Callon Petroleum Co Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-0.37 |
-2.62 |
-2.18 |
-2.00 |
-1.75 |
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Callon Petroleum Co Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
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-2.00 |
-2.31 |
-1.81 |
-1.56 |
-1.75 |
Competitive Comparison
For the Oil & Gas E&P subindustry, Callon Petroleum Co'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.
Callon Petroleum Co Beneish M-Score Distribution
For the Oil & Gas industry and Energy sector, Callon Petroleum Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Callon Petroleum Co's Beneish M-Score falls into.
Callon Petroleum Co 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 Callon Petroleum Co 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 * 1.2026 | + | 0.528 * 1.4052 | + | 0.404 * 3.1262 | + | 0.892 * 0.7252 | + | 0.115 * 0.9387 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.6231 | + | 4.679 * -0.048205 | - | 0.327 * 0.8425 |
| = | -1.75 |
* 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 $207 Mil.
Revenue was 601.357 + 619.298 + 562.283 + 560.046 = $2,343 Mil.
Gross Profit was 213.22 + 238.21 + 217.335 + 214.22 = $883 Mil.
Total Current Assets was $252 Mil.
Total Assets was $6,711 Mil.
Property, Plant and Equipment(Net PPE) was $6,177 Mil.
Depreciation, Depletion and Amortization(DDA) was $536 Mil.
Selling, General, & Admin. Expense(SGA) was $115 Mil.
Total Current Liabilities was $647 Mil.
Long-Term Debt & Capital Lease Obligation was $1,919 Mil.
Net Income was 168.975 + 119.484 + -107.896 + 220.638 = $401 Mil.
Non Operating Income was 44.836 + -42.141 + -402.554 + 32.059 = $-368 Mil.
Cash Flow from Operations was 298.266 + 266.828 + 279.522 + 247.913 = $1,093 Mil.
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Total Receivables was $237 Mil.
Revenue was 704.249 + 835.877 + 913.62 + 777.218 = $3,231 Mil.
Gross Profit was 335.715 + 447.557 + 501.187 + 426.523 = $1,711 Mil.
Total Current Assets was $298 Mil.
Total Assets was $6,488 Mil.
Property, Plant and Equipment(Net PPE) was $6,103 Mil.
Depreciation, Depletion and Amortization(DDA) was $494 Mil.
Selling, General, & Admin. Expense(SGA) was $98 Mil.
Total Current Liabilities was $703 Mil.
Long-Term Debt & Capital Lease Obligation was $2,241 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) |
| = | (206.791 / 2342.984) | / | (237.128 / 3230.964) |
| = | 0.08826 | / | 0.073392 |
| | = | 1.2026 |
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) |
| = | (1710.982 / 3230.964) | / | (882.985 / 2342.984) |
| = | 0.529558 | / | 0.376863 |
| | = | 1.4052 |
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 - (252.127 + 6176.79) / 6711.476) | / | (1 - (297.638 + 6103.449) / 6488.469) |
| = | 0.042101 | / | 0.013467 |
| | = | 3.1262 |
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 |
| = | 2342.984 | / | 3230.964 |
| | = | 0.7252 |
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)) |
| = | (494.229 / (494.229 + 6103.449)) | / | (535.661 / (535.661 + 6176.79)) |
| = | 0.07491 | / | 0.079801 |
| | = | 0.9387 |
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) |
| = | (115.344 / 2342.984) | / | (97.996 / 3230.964) |
| = | 0.04923 | / | 0.03033 |
| | = | 1.6231 |
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) |
| = | ((1918.655 + 646.962) / 6711.476) | / | ((2241.295 + 702.814) / 6488.469) |
| = | 0.382273 | / | 0.453745 |
| | = | 0.8425 |
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 |
| = | (401.201 - -367.8 | - | 1092.529) | / | 6711.476 |
| | = | -0.048205 |
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.
Callon Petroleum Co has a M-score of -1.75 signals that the company is likely to be a manipulator.
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