STN has been removed from your Stock Email Alerts list.
Please enter Portfolio Name for new portfolio.
The zones of discrimination for M-Score is as such:
An M-Score of less than -2.22 suggests that the company is not an accounting manipulator.
An M-Score of greater than -2.22 signals that the company is likely an accounting manipulator.
Stantec, Inc. has a M-score of -2.85 suggests that the company is not a manipulator.
During the past 13 years, the highest Beneish M-Score of Stantec, Inc. was -0.17. The lowest was -2.92. And the median was -2.40.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Z-Score) or business trend (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 Stantec, Inc. 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 * 0.8468||+||0.528 * 1.0183||+||0.404 * 0.926||+||0.892 * 1.1372||+||0.115 * 0.991|
|-||0.172 * SGAI||+||4.679 * TATA||-||0.327 * LVGI|
|-||0.172 * 0.9873||+||4.679 * -0.0791||-||0.327 * 0.8935|
|This Year (Dec13) TTM:||Last Year (Dec12) TTM:|
|Accounts Receivable was $491 Mil.|
Revenue was 781.857404022 + 467.912162162 + 544.926923077 + 503.637880275 = $2,298 Mil.
Gross Profit was 232.753199269 + 253.852316602 + 244.714423077 + 226.032384691 = $957 Mil.
Total Current Assets was $664 Mil.
Total Assets was $1,525 Mil.
Property, Plant and Equipment(Net PPE) was $122 Mil.
Depreciation, Depletion and Amortization(DDA) was $51 Mil.
Selling, General & Admin. Expense(SGA) was $712 Mil.
Total Current Liabilities was $372 Mil.
Long-Term Debt was $184 Mil.
Net Income was 32.5968921389 + 44.3648648649 + 34.7413461538 + 27.9165848871 = $140 Mil.
Non Operating Income was 2.7084095064 + 1.22104247104 + 0.195192307692 + -0.184494602552 = $4 Mil.
Cash Flow from Operations was 110.3976234 + 107.673745174 + 37.7182692308 + 0.56624141315 = $256 Mil.
|Accounts Receivable was $510 Mil.
Revenue was 712.260080645 + 402.600810537 + 466.873767258 + 439.270896274 = $2,021 Mil.
Gross Profit was 220.768145161 + 221.597771023 + 211.931952663 + 202.959718026 = $857 Mil.
Total Current Assets was $588 Mil.
Total Assets was $1,476 Mil.
Property, Plant and Equipment(Net PPE) was $116 Mil.
Depreciation, Depletion and Amortization(DDA) was $48 Mil.
Selling, General & Admin. Expense(SGA) was $634 Mil.
Total Current Liabilities was $344 Mil.
Long-Term Debt was $258 Mil.
1. DSRI = Days Sales in Receivables Index
A large increase in DSR could be indicative of revenue inflation.
|DSRI||=||(Receivables_t / Revenue_t)||/||(Receivables_t-1 / Revenue_t-1)|
|=||(491.401279707 / 2298.33436954)||/||(510.28125 / 2021.00555471)|
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.
|=||(GrossProfit_t-1 / Revenue_t-1)||/||(GrossProfit_t / Revenue_t)|
|=||(253.852316602 / 2021.00555471)||/||(232.753199269 / 2298.33436954)|
3. AQI = Asset Quality Index
AQI is the ratio of asset quality in year t to year t-1.
|AQI||=||(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)||/||(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)|
|=||(1 - (663.830895795 + 122.060329068) / 1524.84277879)||/||(1 - (587.66733871 + 115.921370968) / 1476.04334677)|
4. SGI = Sales Growth Index
Ratio of sales 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.
5. DEPI = Depreciation Index
Measured as the ratio of the rate of depreciation 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))|
|=||(48.03901067 / (48.03901067 + 115.921370968))||/||(51.2369673258 / (51.2369673258 + 122.060329068))|
6. SGAI = Sales, General and Administrative expenses Index
The ratio of SGA expenses 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)|
|=||(712.236715998 / 2298.33436954)||/||(634.370125674 / 2021.00555471)|
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$sgai= in leverage
|LVGI||=||((LTD_t + CurrentLiabilities_t) / TotalAssets_t)||/||((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)|
|=||((183.677330896 + 372.014625229) / 1524.84277879)||/||((258.475806452 + 343.528225806) / 1476.04334677)|
8. TATA = Total Accruals to Total Assets
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
|=||(NetIncome_t - NonOperatingIncome_t||-||CashFlowsfromOperations_t)||/||TotalAssets_t|
|=||(139.619688045 - 3.94014968258||-||256.355879218)||/||1524.84277879|
An M-Score of less than -2.22 suggests that the company will not be a manipulator. An M-Score of greater than -2.22 signals that the company is likely to be a manipulator.
Stantec, Inc. has a M-score of -2.85 suggests that the company will not be a manipulator.
Altman Z-Score, Piotroski F-Score, Accounts Receivable, Revenue, Gross Profit, Total Current Assets, Total Assets, Property, Plant and Equipment, Depreciation, Depletion and Amortization, Selling, General & Admin. Expense, Total Current Liabilities, Long-Term Debt, Net Income, Non Operating Income, Cash Flow from Operations
Stantec, Inc. Annual Data
Stantec, Inc. Quarterly Data