SLB Beneish M-Score Historical Data
The historical data trend for SLB'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.
SLB Beneish M-Score Chart
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SLB Annual Data
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Trend |
Dec15 |
Dec16 |
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Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.90 |
-2.90 |
-2.38 |
-2.60 |
-2.64 |
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SLB Quarterly Data
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Sep20 |
Dec20 |
Mar21 |
Jun21 |
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Mar22 |
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Sep22 |
Dec22 |
Mar23 |
Jun23 |
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Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
Mar25 |
Jun25 |
| Beneish M-Score |
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-2.57 |
-2.70 |
-2.64 |
-2.67 |
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Competitive Comparison of SLB's Beneish M-Score
For the Oil & Gas Equipment & Services subindustry, SLB'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.
SLB's Beneish M-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, SLB's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where SLB's Beneish M-Score falls into.
SLB 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 SLB 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 * 0.9884 | + | 0.528 * 1.008 | + | 0.404 * 0.9864 | + | 0.892 * 1.0095 | + | 0.115 * 1.0439 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8921 | + | 4.679 * -0.039882 | - | 0.327 * 1.0273 |
| = | -2.66 |
* 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 (Jun25) TTM: | Last Year (Jun24) TTM: |
Total Receivables was $8,586 Mil.
Revenue was 8546 + 8490 + 9284 + 9159 = $35,479 Mil.
Gross Profit was 1612 + 1606 + 1961 + 1922 = $7,101 Mil.
Total Current Assets was $18,453 Mil.
Total Assets was $48,769 Mil.
Property, Plant and Equipment(Net PPE) was $7,399 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,784 Mil.
Selling, General, & Admin. Expense(SGA) was $353 Mil.
Total Current Liabilities was $14,035 Mil.
Long-Term Debt & Capital Lease Obligation was $10,891 Mil.
Net Income was 1014 + 797 + 1095 + 1186 = $4,092 Mil.
Non Operating Income was -170 + -164 + -216 + -54 = $-604 Mil.
Cash Flow from Operations was 1142 + 660 + 2390 + 2449 = $6,641 Mil.
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Total Receivables was $8,605 Mil.
Revenue was 9139 + 8707 + 8990 + 8310 = $35,146 Mil.
Gross Profit was 1877 + 1700 + 1796 + 1718 = $7,091 Mil.
Total Current Assets was $18,517 Mil.
Total Assets was $49,373 Mil.
Property, Plant and Equipment(Net PPE) was $7,335 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,866 Mil.
Selling, General, & Admin. Expense(SGA) was $392 Mil.
Total Current Liabilities was $12,409 Mil.
Long-Term Debt & Capital Lease Obligation was $12,156 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) |
| = | (8586 / 35479) | / | (8605 / 35146) |
| = | 0.242002 | / | 0.244836 |
| | = | 0.9884 |
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) |
| = | (7091 / 35146) | / | (7101 / 35479) |
| = | 0.201758 | / | 0.200147 |
| | = | 1.008 |
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 - (18453 + 7399) / 48769) | / | (1 - (18517 + 7335) / 49373) |
| = | 0.469909 | / | 0.476394 |
| | = | 0.9864 |
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 |
| = | 35479 | / | 35146 |
| | = | 1.0095 |
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)) |
| = | (1866 / (1866 + 7335)) | / | (1784 / (1784 + 7399)) |
| = | 0.202804 | / | 0.194272 |
| | = | 1.0439 |
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) |
| = | (353 / 35479) | / | (392 / 35146) |
| = | 0.00995 | / | 0.011153 |
| | = | 0.8921 |
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) |
| = | ((10891 + 14035) / 48769) | / | ((12156 + 12409) / 49373) |
| = | 0.511103 | / | 0.497539 |
| | = | 1.0273 |
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 |
| = | (4092 - -604 | - | 6641) | / | 48769 |
| | = | -0.039882 |
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.
SLB has a M-score of -2.66 suggests that the company is unlikely to be a manipulator.
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