OMV AG Beneish M-Score Historical Data
The historical data trend for OMV AG'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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OMV AG Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.82 |
-2.21 |
-2.39 |
-2.50 |
-2.94 |
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OMV AG 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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-2.50 |
-2.71 |
-3.19 |
-3.10 |
-2.94 |
Competitive Comparison
For the Oil & Gas Integrated subindustry, OMV AG'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.
OMV AG Beneish M-Score Distribution
For the Oil & Gas industry and Energy sector, OMV AG's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where OMV AG's Beneish M-Score falls into.
OMV AG 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 OMV AG 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 * 1.278 | + | 0.528 * 1.1436 | + | 0.404 * 1.0311 | + | 0.892 * 0.65 | + | 0.115 * 1.0265 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.7704 | + | 4.679 * -0.080803 | - | 0.327 * 0.8872 |
| = | -2.92 |
* 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 $3,819 Mil.
Revenue was 10956.379 + 10105.656 + 9732.394 + 11738.758 = $42,533 Mil.
Gross Profit was 2442.748 + 2178.228 + 1790.899 + 2150.964 = $8,563 Mil.
Total Current Assets was $20,834 Mil.
Total Assets was $55,249 Mil.
Property, Plant and Equipment(Net PPE) was $22,200 Mil.
Depreciation, Depletion and Amortization(DDA) was $2,824 Mil.
Selling, General, & Admin. Expense(SGA) was $3,241 Mil.
Total Current Liabilities was $11,415 Mil.
Long-Term Debt & Capital Lease Obligation was $8,703 Mil.
Net Income was 275.9 + 525.08 + 431.203 + 435.76 = $1,668 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 1190.84 + 1819.637 + 244.854 + 2876.874 = $6,132 Mil.
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Total Receivables was $4,597 Mil.
Revenue was 15367.585 + 17000 + 15637.421 + 17432.819 = $65,438 Mil.
Gross Profit was 2283.898 + 4198.02 + 3458.774 + 5125.551 = $15,066 Mil.
Total Current Assets was $25,930 Mil.
Total Assets was $60,236 Mil.
Property, Plant and Equipment(Net PPE) was $21,391 Mil.
Depreciation, Depletion and Amortization(DDA) was $2,803 Mil.
Selling, General, & Admin. Expense(SGA) was $2,817 Mil.
Total Current Liabilities was $15,496 Mil.
Long-Term Debt & Capital Lease Obligation was $9,228 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) |
| = | (3818.975 / 42533.187) | / | (4597.458 / 65437.825) |
| = | 0.089788 | / | 0.070257 |
| | = | 1.278 |
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) |
| = | (15066.243 / 65437.825) | / | (8562.839 / 42533.187) |
| = | 0.230238 | / | 0.201321 |
| | = | 1.1436 |
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 - (20834.242 + 22199.564) / 55248.637) | / | (1 - (25930.085 + 21390.89) / 60236.229) |
| = | 0.221088 | / | 0.21441 |
| | = | 1.0311 |
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 |
| = | 42533.187 | / | 65437.825 |
| | = | 0.65 |
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)) |
| = | (2803.084 / (2803.084 + 21390.89)) | / | (2824.347 / (2824.347 + 22199.564)) |
| = | 0.115859 | / | 0.112866 |
| | = | 1.0265 |
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) |
| = | (3241.169 / 42533.187) | / | (2816.701 / 65437.825) |
| = | 0.076203 | / | 0.043044 |
| | = | 1.7704 |
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) |
| = | ((8703.381 + 11415.485) / 55248.637) | / | ((9227.754 + 15495.763) / 60236.229) |
| = | 0.364151 | / | 0.410443 |
| | = | 0.8872 |
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 |
| = | (1667.943 - 0 | - | 6132.205) | / | 55248.637 |
| | = | -0.080803 |
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.
OMV AG has a M-score of -2.92 suggests that the company is unlikely to be a manipulator.
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