Seiko Epson Beneish M-Score Historical Data
The historical data trend for Seiko Epson'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.
Seiko Epson Beneish M-Score Chart
|
Seiko Epson Annual Data
|
|
Trend |
Mar14 |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
- |
-3.08 |
-2.91 |
-2.47 |
-2.24 |
|
Seiko Epson 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.11 |
-2.24 |
-2.52 |
-2.54 |
-2.70 |
Competitive Comparison of Seiko Epson's Beneish M-Score
For the Computer Hardware subindustry, Seiko Epson'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.
Seiko Epson's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Seiko Epson's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Seiko Epson's Beneish M-Score falls into.
Seiko Epson 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 Seiko Epson 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 * 0.9961 | + | 0.528 * 1.0194 | + | 0.404 * 1.0118 | + | 0.892 * 0.9755 | + | 0.115 * 1.0408 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0489 | + | 4.679 * -0.061515 | - | 0.327 * 0.914 |
| = | -2.75 |
* 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 $1,454 Mil.
Revenue was 2455.649 + 2189.408 + 2227.251 + 2513.214 = $9,386 Mil.
Gross Profit was 913.256 + 715.81 + 762.149 + 874.886 = $3,266 Mil.
Total Current Assets was $6,213 Mil.
Total Assets was $9,426 Mil.
Property, Plant and Equipment(Net PPE) was $2,531 Mil.
Depreciation, Depletion and Amortization(DDA) was $482 Mil.
Selling, General, & Admin. Expense(SGA) was $2,781 Mil.
Total Current Liabilities was $2,462 Mil.
Long-Term Debt & Capital Lease Obligation was $1,224 Mil.
Net Income was 104.097 + 49.315 + 142.815 + 101.71 = $398 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 363.825 + 231.276 + 193.24 + 189.415 = $978 Mil.
|
Total Receivables was $1,496 Mil.
Revenue was 2677.809 + 2339.775 + 2223.573 + 2379.636 = $9,621 Mil.
Gross Profit was 953.379 + 805.685 + 788.597 + 865.156 = $3,413 Mil.
Total Current Assets was $6,595 Mil.
Total Assets was $9,866 Mil.
Property, Plant and Equipment(Net PPE) was $2,565 Mil.
Depreciation, Depletion and Amortization(DDA) was $513 Mil.
Selling, General, & Admin. Expense(SGA) was $2,718 Mil.
Total Current Liabilities was $2,838 Mil.
Long-Term Debt & Capital Lease Obligation was $1,384 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) |
| = | (1453.638 / 9385.522) | / | (1495.877 / 9620.793) |
| = | 0.154881 | / | 0.155484 |
| | = | 0.9961 |
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) |
| = | (3412.817 / 9620.793) | / | (3266.101 / 9385.522) |
| = | 0.354733 | / | 0.347994 |
| | = | 1.0194 |
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 - (6213.138 + 2530.506) / 9425.579) | / | (1 - (6594.725 + 2565.456) / 9865.641) |
| = | 0.072349 | / | 0.071507 |
| | = | 1.0118 |
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 |
| = | 9385.522 | / | 9620.793 |
| | = | 0.9755 |
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)) |
| = | (513.081 / (513.081 + 2565.456)) | / | (482.443 / (482.443 + 2530.506)) |
| = | 0.166664 | / | 0.160123 |
| | = | 1.0408 |
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) |
| = | (2780.947 / 9385.522) | / | (2717.828 / 9620.793) |
| = | 0.296302 | / | 0.282495 |
| | = | 1.0489 |
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) |
| = | ((1224.393 + 2461.976) / 9425.579) | / | ((1384.214 + 2837.539) / 9865.641) |
| = | 0.391103 | / | 0.427925 |
| | = | 0.914 |
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 |
| = | (397.937 - 0 | - | 977.756) | / | 9425.579 |
| | = | -0.061515 |
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.
Seiko Epson has a M-score of -2.75 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
SEKEY has been successfully added to your