OM Group Beneish M-Score Historical Data
The historical data trend for OM Group'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.
OM Group Beneish M-Score Chart
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OM Group Annual Data
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Trend |
Dec05 |
Dec06 |
Dec07 |
Dec08 |
Dec09 |
Dec10 |
Dec11 |
Dec12 |
Dec13 |
Dec14 |
| Beneish M-Score |
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-2.54 |
-2.24 |
-3.04 |
-2.54 |
-3.52 |
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OM Group Quarterly Data
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Sep10 |
Dec10 |
Mar11 |
Jun11 |
Sep11 |
Dec11 |
Mar12 |
Jun12 |
Sep12 |
Dec12 |
Mar13 |
Jun13 |
Sep13 |
Dec13 |
Mar14 |
Jun14 |
Sep14 |
Dec14 |
Mar15 |
Jun15 |
| Beneish M-Score |
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-2.61 |
-2.67 |
-3.52 |
-3.48 |
-3.55 |
Competitive Comparison of OM Group's Beneish M-Score
For the Specialty Chemicals subindustry, OM Group'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.
OM Group's Beneish M-Score Distribution in the Chemicals Industry
For the Chemicals industry and Basic Materials sector, OM Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where OM Group's Beneish M-Score falls into.
OM Group 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 OM Group 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 * 0.8718 | + | 0.528 * 1.0141 | + | 0.404 * 0.9087 | + | 0.892 * 0.8988 | + | 0.115 * 1.0148 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1206 | + | 4.679 * -0.179014 | - | 0.327 * 0.9198 |
| = | -3.55 |
* 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 (Jun15) TTM: | Last Year (Jun14) TTM: |
Total Receivables was $133.6 Mil.
Revenue was 228.4 + 247.8 + 245.5 + 262.9 = $984.6 Mil.
Gross Profit was 53.8 + 50.3 + 50.7 + 62.6 = $217.4 Mil.
Total Current Assets was $426.9 Mil.
Total Assets was $1,299.9 Mil.
Property, Plant and Equipment(Net PPE) was $281.7 Mil.
Depreciation, Depletion and Amortization(DDA) was $60.8 Mil.
Selling, General, & Admin. Expense(SGA) was $210.6 Mil.
Total Current Liabilities was $156.4 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 Mil.
Net Income was 8.3 + -11 + -189 + 6.4 = $-185.3 Mil.
Non Operating Income was -5.5 + -9.9 + 1.5 + -3 = $-16.9 Mil.
Cash Flow from Operations was 15.9 + -15.2 + 41.5 + 22.1 = $64.3 Mil.
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Total Receivables was $170.5 Mil.
Revenue was 297.5 + 261.7 + 270.4 + 265.9 = $1,095.5 Mil.
Gross Profit was 63.1 + 61.9 + 54.5 + 65.8 = $245.3 Mil.
Total Current Assets was $548.0 Mil.
Total Assets was $1,755.3 Mil.
Property, Plant and Equipment(Net PPE) was $328.6 Mil.
Depreciation, Depletion and Amortization(DDA) was $72.2 Mil.
Selling, General, & Admin. Expense(SGA) was $209.1 Mil.
Total Current Liabilities was $229.6 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 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) |
| = | (133.6 / 984.6) | / | (170.5 / 1095.5) |
| = | 0.13569 | / | 0.155637 |
| | = | 0.8718 |
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) |
| = | (245.3 / 1095.5) | / | (217.4 / 984.6) |
| = | 0.223916 | / | 0.2208 |
| | = | 1.0141 |
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 - (426.9 + 281.7) / 1299.9) | / | (1 - (548 + 328.6) / 1755.3) |
| = | 0.454881 | / | 0.500598 |
| | = | 0.9087 |
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 |
| = | 984.6 | / | 1095.5 |
| | = | 0.8988 |
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)) |
| = | (72.2 / (72.2 + 328.6)) | / | (60.8 / (60.8 + 281.7)) |
| = | 0.18014 | / | 0.177518 |
| | = | 1.0148 |
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) |
| = | (210.6 / 984.6) | / | (209.1 / 1095.5) |
| = | 0.213894 | / | 0.190872 |
| | = | 1.1206 |
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) |
| = | ((0 + 156.4) / 1299.9) | / | ((0 + 229.6) / 1755.3) |
| = | 0.120317 | / | 0.130804 |
| | = | 0.9198 |
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 |
| = | (-185.3 - -16.9 | - | 64.3) | / | 1299.9 |
| | = | -0.179014 |
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.
OM Group has a M-score of -3.55 suggests that the company is unlikely to be a manipulator.
OM Group (OM Group) Business Description
Traded in Other Exchanges
N/A
Address
OM Group Inc is a Delaware corporation and was formed in 1991. The Company is a diversified industrial growth company serving attractive markets, including automotive systems, electronic devices, aerospace, general industrial and renewable energy. It uses technologies to address customers' complex applications and demanding requirements. The Company operated in three business platforms namely; Magnetic Technologies segment, Battery Technologies segment, Specialty Chemicals segment. The Magnetic Technologies segment develops, manufactures and distributes high-performance, industrial-use magnetic materials and related products with differentiated magnetic and/or other performance properties. The products include automotive systems, electrical installation technology, industrial, retail and renewable energy. The Battery Technologies segment provides advanced batteries, battery management systems, and energetic devices for defense, space and medical markets. It sells these products directly to customers who incorporate them into sub-assemblies. The business is also developing and commercializing products, technologies and applications for emerging markets, including commercial aerospace, alternative energy storage and oil & gas. The Specialty Chemicals segment develops, produces and supplies chemicals for electronic applications, industrial applications including coatings, composites and tire, and photomasks used by customers to produce semiconductors and related products. The primary raw materials used by Magnetic Technologies are nickel, cobalt and certain rare earth materials, primarily alloys containing dysprosium and neodymium. The Company has operations in North America, Europe and Asia, with the majority of its operations located outside of the United States. The Company is subject to a variety of environmental and pollution control laws and regulations in the jurisdictions in which it operates.
Executives
| Joseph Scaminace |
director, officer: Chairman and CEO |
C/O THE SHERWIN WILLIAMS CO, 101 PROSPECT AVE N W, CLEVELAND OH 44115 |
| Carl R Christenson |
director |
C/O ALTRA INDUSTRIAL MOTION INC., 300 GRANITE STREET, BRAINTREE MA 02184 |
| Betz Hans Georg Dr |
director |
47957 AVALON HEIGHTS TERR, FREMONT CA 94539 |
| Patrick S. Mullin |
director |
1500 KEY TOWER, 127 PUBLIC SQUARE, CLEVELAND OH 44114 |
| Valerie Gentile Sachs |
officer: VP, Gen. Counsel & Secretary |
5555 DARROW RD, HUDSON OH 44236 |
| Joseph M Gingo |
director |
3550 WEST MARKET STREET, AKRON OH 44333 |
| Katharine Plourde |
director |
120 EAST END AVE, NEW YORK NY 10028 |
| Christopher M Hix |
officer: VP and Chief Financial Officer |
2160 SATELLITE BLVD., SUITE 200, DULUTH GA 30097 |
| Allen A Spizzo |
director |
1313 N MARKET ST, WILMINGTON DE 19894 |
| David B Knowles |
officer: President and COO |
1293 SOUTH MAIN STREET, AKRON OH 44301 |
| Steven J. Demetriou |
director |
25825 SCIENCE PARK DRIVE, SUITE 400, BEACHWOOD OH 44102 |
| Stephen Dunmead |
officer: VP, Gen Mgr., Specialties |
C/O OM GROUP INC TOWER CITY, 3500 TERMINAL TOWER 50 PUBLIC SQUARE, CLEVELAND OH 44113-2204 |
| David L Pugh |
director |
ONE APPLIED PLZ, CLEVELAND OH 44115-5056 |
| R Louis Schneeberger |
officer: Chief Financial Officer |
7005 COCHRAN ROAD, GLENWILLOW OH 44139 |
| Thomas R Miklich |
officer: Chief Financial Officer |
C/O OM GROUP INC 50 PACIFIC SQUARE #3500 CLEVELAND OH 44113 |
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