Quebecor Beneish M-Score Historical Data
The historical data trend for Quebecor'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.
Quebecor Beneish M-Score Chart
|
Quebecor Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.67 |
-2.81 |
-2.53 |
-2.75 |
-2.31 |
|
Quebecor 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 |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.75 |
-2.71 |
-2.42 |
-2.42 |
-2.31 |
Competitive Comparison of Quebecor's Beneish M-Score
For the Telecom Services subindustry, Quebecor'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.
Quebecor's Beneish M-Score Distribution in the Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Quebecor's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Quebecor's Beneish M-Score falls into.
Quebecor 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 Quebecor 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 * 1.2993 | + | 0.528 * 1.0544 | + | 0.404 * 0.9824 | + | 0.892 * 1.1663 | + | 0.115 * 1.0662 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9026 | + | 4.679 * -0.058843 | - | 0.327 * 0.9974 |
| = | -2.28 |
* 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 $1,006 Mil.
Revenue was 1121.646 + 1046.042 + 1052.612 + 815.318 = $4,036 Mil.
Gross Profit was 569.171 + 596.187 + 604.922 + 452.605 = $2,223 Mil.
Total Current Assets was $1,636 Mil.
Total Assets was $9,497 Mil.
Property, Plant and Equipment(Net PPE) was $2,802 Mil.
Depreciation, Depletion and Amortization(DDA) was $675 Mil.
Selling, General, & Admin. Expense(SGA) was $561 Mil.
Total Current Liabilities was $2,475 Mil.
Long-Term Debt & Capital Lease Obligation was $4,792 Mil.
Net Income was 108.974 + 154.682 + 131.04 + 88.358 = $483 Mil.
Non Operating Income was -24.15 + 1.774 + -8.355 + -12.79 = $-44 Mil.
Cash Flow from Operations was 250.224 + 366.713 + 269.758 + 198.714 = $1,085 Mil.
|
Total Receivables was $664 Mil.
Revenue was 872.286 + 857.411 + 870.978 + 859.4 = $3,460 Mil.
Gross Profit was 489.216 + 507.534 + 522.181 + 490.679 = $2,010 Mil.
Total Current Assets was $1,332 Mil.
Total Assets was $7,821 Mil.
Property, Plant and Equipment(Net PPE) was $2,247 Mil.
Depreciation, Depletion and Amortization(DDA) was $587 Mil.
Selling, General, & Admin. Expense(SGA) was $533 Mil.
Total Current Liabilities was $1,866 Mil.
Long-Term Debt & Capital Lease Obligation was $4,135 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) |
| = | (1005.888 / 4035.618) | / | (663.747 / 3460.075) |
| = | 0.249253 | / | 0.19183 |
| | = | 1.2993 |
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) |
| = | (2009.61 / 3460.075) | / | (2222.885 / 4035.618) |
| = | 0.5808 | / | 0.550817 |
| | = | 1.0544 |
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 - (1635.584 + 2801.655) / 9497.093) | / | (1 - (1332.425 + 2247.332) / 7821.347) |
| = | 0.532779 | / | 0.542309 |
| | = | 0.9824 |
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 |
| = | 4035.618 | / | 3460.075 |
| | = | 1.1663 |
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)) |
| = | (586.783 / (586.783 + 2247.332)) | / | (675.123 / (675.123 + 2801.655)) |
| = | 0.207043 | / | 0.194181 |
| | = | 1.0662 |
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) |
| = | (560.859 / 4035.618) | / | (532.739 / 3460.075) |
| = | 0.138977 | / | 0.153967 |
| | = | 0.9026 |
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) |
| = | ((4792.412 + 2474.583) / 9497.093) | / | ((4134.634 + 1865.881) / 7821.347) |
| = | 0.765181 | / | 0.767197 |
| | = | 0.9974 |
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 |
| = | (483.054 - -43.521 | - | 1085.409) | / | 9497.093 |
| | = | -0.058843 |
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.
Quebecor has a M-score of -2.28 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
QBCRF has been successfully added to your