Duerr AG Beneish M-Score Historical Data
The historical data trend for Duerr 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.
|
Duerr AG Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
|
|
|
|
|
-2.53 |
-2.86 |
-2.62 |
-2.46 |
-2.48 |
|
Duerr AG 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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.46 |
-2.46 |
-2.55 |
-2.24 |
-2.48 |
Competitive Comparison
For the Specialty Industrial Machinery subindustry, Duerr 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.
Duerr AG Beneish M-Score Distribution
For the Industrial Products industry and Industrials sector, Duerr AG's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Duerr AG's Beneish M-Score falls into.
Duerr 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 Duerr 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 * 1.0077 | + | 0.528 * 1.0031 | + | 0.404 * 1.2399 | + | 0.892 * 1.1023 | + | 0.115 * 1.1013 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.077 | + | 4.679 * -0.033889 | - | 0.327 * 1.0256 |
| = | -2.45 |
* 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 $1,400 Mil.
Revenue was 1448.383 + 1242.554 + 1213.654 + 1086.393 = $4,991 Mil.
Gross Profit was 268.894 + 280.349 + 286.307 + 247.976 = $1,084 Mil.
Total Current Assets was $3,533 Mil.
Total Assets was $5,623 Mil.
Property, Plant and Equipment(Net PPE) was $714 Mil.
Depreciation, Depletion and Amortization(DDA) was $141 Mil.
Selling, General, & Admin. Expense(SGA) was $167 Mil.
Total Current Liabilities was $3,003 Mil.
Long-Term Debt & Capital Lease Obligation was $1,162 Mil.
Net Income was 5.37 + 50.152 + 40.853 + 23.96 = $120 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 182.846 + 53.165 + -7.174 + 82.045 = $311 Mil.
|
Total Receivables was $1,261 Mil.
Revenue was 1309.288 + 1112.415 + 1108.754 + 997.443 = $4,528 Mil.
Gross Profit was 275.162 + 241.241 + 234.141 + 235.497 = $986 Mil.
Total Current Assets was $3,230 Mil.
Total Assets was $4,800 Mil.
Property, Plant and Equipment(Net PPE) was $623 Mil.
Depreciation, Depletion and Amortization(DDA) was $138 Mil.
Selling, General, & Admin. Expense(SGA) was $141 Mil.
Total Current Liabilities was $2,594 Mil.
Long-Term Debt & Capital Lease Obligation was $872 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) |
| = | (1400.49 / 4990.984) | / | (1260.863 / 4527.9) |
| = | 0.280604 | / | 0.278465 |
| | = | 1.0077 |
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) |
| = | (986.041 / 4527.9) | / | (1083.526 / 4990.984) |
| = | 0.21777 | / | 0.217097 |
| | = | 1.0031 |
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 - (3532.967 + 714.461) / 5622.666) | / | (1 - (3229.501 + 623.438) / 4799.732) |
| = | 0.244588 | / | 0.19726 |
| | = | 1.2399 |
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 |
| = | 4990.984 | / | 4527.9 |
| | = | 1.1023 |
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)) |
| = | (138.352 / (138.352 + 623.438)) | / | (141.086 / (141.086 + 714.461)) |
| = | 0.181614 | / | 0.164907 |
| | = | 1.1013 |
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) |
| = | (167.126 / 4990.984) | / | (140.784 / 4527.9) |
| = | 0.033486 | / | 0.031093 |
| | = | 1.077 |
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) |
| = | ((1161.726 + 3002.962) / 5622.666) | / | ((872.153 + 2594.181) / 4799.732) |
| = | 0.740696 | / | 0.722193 |
| | = | 1.0256 |
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 |
| = | (120.335 - 0 | - | 310.882) | / | 5622.666 |
| | = | -0.033889 |
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.
Duerr AG has a M-score of -2.45 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
DUERF has been successfully added to your