Chord Energy Beneish M-Score Historical Data
The historical data trend for Chord 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.
|
Chord Energy Annual Data
|
|
Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
- |
- |
-2.82 |
-0.60 |
-2.88 |
|
Chord Energy Quarterly Data
|
|
Dec18 |
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
|
|
|
|
|
|
|
|
|
|
|
|
-0.60 |
-2.46 |
-2.70 |
-2.57 |
-2.88 |
Competitive Comparison
For the Oil & Gas E&P subindustry, Chord 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.
Chord Energy Beneish M-Score Distribution
For the Oil & Gas industry and Energy sector, Chord Energy's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Chord Energy's Beneish M-Score falls into.
Chord 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 Chord 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 * 1.1291 | + | 0.528 * 1.3308 | + | 0.404 * 0.3835 | + | 0.892 * 1.0685 | + | 0.115 * 0.718 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.5648 | + | 4.679 * -0.1272 | - | 0.327 * 0.8552 |
| = | -2.88 |
* 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 $943 Mil.
Revenue was 964.685 + 1123.368 + 912.071 + 896.517 = $3,897 Mil.
Gross Profit was 377.476 + 379.566 + 298.36 + 382.193 = $1,438 Mil.
Total Current Assets was $1,425 Mil.
Total Assets was $6,926 Mil.
Property, Plant and Equipment(Net PPE) was $5,336 Mil.
Depreciation, Depletion and Amortization(DDA) was $599 Mil.
Selling, General, & Admin. Expense(SGA) was $126 Mil.
Total Current Liabilities was $1,165 Mil.
Long-Term Debt & Capital Lease Obligation was $415 Mil.
Net Income was 301.633 + 209.076 + 216.071 + 296.999 = $1,024 Mil.
Non Operating Income was 46.168 + -69.143 + 36.768 + 71.138 = $85 Mil.
Cash Flow from Operations was 543.334 + 399.47 + 408.236 + 468.811 = $1,820 Mil.
|
Total Receivables was $782 Mil.
Revenue was 1015.602 + 1188.843 + 789.38 + 652.969 = $3,647 Mil.
Gross Profit was 479.949 + 639.69 + 355.558 + 315.226 = $1,790 Mil.
Total Current Assets was $1,483 Mil.
Total Assets was $6,631 Mil.
Property, Plant and Equipment(Net PPE) was $4,735 Mil.
Depreciation, Depletion and Amortization(DDA) was $370 Mil.
Selling, General, & Admin. Expense(SGA) was $209 Mil.
Total Current Liabilities was $1,361 Mil.
Long-Term Debt & Capital Lease Obligation was $407 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) |
| = | (943.114 / 3896.641) | / | (781.738 / 3646.794) |
| = | 0.242033 | / | 0.214363 |
| | = | 1.1291 |
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) |
| = | (1790.423 / 3646.794) | / | (1437.595 / 3896.641) |
| = | 0.490958 | / | 0.368932 |
| | = | 1.3308 |
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 - (1424.551 + 5336.021) / 6926.15) | / | (1 - (1482.512 + 4735.218) / 6631.081) |
| = | 0.023906 | / | 0.062335 |
| | = | 0.3835 |
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 |
| = | 3896.641 | / | 3646.794 |
| | = | 1.0685 |
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)) |
| = | (369.659 / (369.659 + 4735.218)) | / | (598.562 / (598.562 + 5336.021)) |
| = | 0.072413 | / | 0.10086 |
| | = | 0.718 |
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) |
| = | (126.319 / 3896.641) | / | (209.299 / 3646.794) |
| = | 0.032417 | / | 0.057393 |
| | = | 0.5648 |
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) |
| = | ((414.569 + 1165.459) / 6926.15) | / | ((407.475 + 1361.333) / 6631.081) |
| = | 0.228125 | / | 0.266745 |
| | = | 0.8552 |
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 |
| = | (1023.779 - 84.931 | - | 1819.851) | / | 6926.15 |
| | = | -0.1272 |
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.
Chord Energy has a M-score of -2.88 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
CHRD has been successfully added to your