Atlas Energy Solutions Beneish M-Score Historical Data
The historical data trend for Atlas Energy Solutions'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.
Atlas Energy Solutions Beneish M-Score Chart
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Atlas Energy Solutions Annual Data
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Trend |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
- |
-3.23 |
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Atlas Energy Solutions Quarterly Data
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Dec20 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
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-2.50 |
-3.23 |
19.90 |
10.83 |
8.58 |
Competitive Comparison of Atlas Energy Solutions's Beneish M-Score
For the Oil & Gas Equipment & Services subindustry, Atlas Energy Solutions'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.
Atlas Energy Solutions's Beneish M-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Atlas Energy Solutions's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Atlas Energy Solutions's Beneish M-Score falls into.
Atlas Energy Solutions 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 Atlas Energy Solutions 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 * 1.1838 | + | 0.528 * 1.9753 | + | 0.404 * 27.462 | + | 0.892 * 1.4867 | + | 0.115 * 0.7321 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.4968 | + | 4.679 * -0.091514 | - | 0.327 * 1.6299 |
| = | 8.58 |
* 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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was $179.9 Mil.
Revenue was 304.434 + 287.518 + 192.667 + 141.138 = $925.8 Mil.
Gross Profit was 53.018 + 60.355 + 68.746 + 62.946 = $245.1 Mil.
Total Current Assets was $316.5 Mil.
Total Assets was $1,973.5 Mil.
Property, Plant and Equipment(Net PPE) was $1,469.2 Mil.
Depreciation, Depletion and Amortization(DDA) was $91.7 Mil.
Selling, General, & Admin. Expense(SGA) was $95.4 Mil.
Total Current Liabilities was $258.2 Mil.
Long-Term Debt & Capital Lease Obligation was $450.6 Mil.
Net Income was 3.918 + 14.837 + 26.787 + 35.737 = $81.3 Mil.
Non Operating Income was -8.285 + -0.96 + 0.023 + -0.008 = $-9.2 Mil.
Cash Flow from Operations was 85.189 + 60.856 + 39.562 + 85.503 = $271.1 Mil.
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Total Receivables was $102.2 Mil.
Revenue was 157.616 + 161.788 + 153.418 + 149.865 = $622.7 Mil.
Gross Profit was 79.625 + 88.851 + 82.344 + 74.789 = $325.6 Mil.
Total Current Assets was $401.5 Mil.
Total Assets was $1,239.3 Mil.
Property, Plant and Equipment(Net PPE) was $833.5 Mil.
Depreciation, Depletion and Amortization(DDA) was $37.5 Mil.
Selling, General, & Admin. Expense(SGA) was $42.9 Mil.
Total Current Liabilities was $100.6 Mil.
Long-Term Debt & Capital Lease Obligation was $172.5 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) |
| = | (179.924 / 925.757) | / | (102.234 / 622.687) |
| = | 0.194353 | / | 0.164182 |
| | = | 1.1838 |
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) |
| = | (325.609 / 622.687) | / | (245.065 / 925.757) |
| = | 0.52291 | / | 0.264718 |
| | = | 1.9753 |
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 - (316.513 + 1469.187) / 1973.49) | / | (1 - (401.524 + 833.453) / 1239.271) |
| = | 0.095156 | / | 0.003465 |
| | = | 27.462 |
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 |
| = | 925.757 | / | 622.687 |
| | = | 1.4867 |
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)) |
| = | (37.457 / (37.457 + 833.453)) | / | (91.704 / (91.704 + 1469.187)) |
| = | 0.043009 | / | 0.058751 |
| | = | 0.7321 |
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) |
| = | (95.446 / 925.757) | / | (42.891 / 622.687) |
| = | 0.1031 | / | 0.068881 |
| | = | 1.4968 |
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) |
| = | ((450.598 + 258.172) / 1973.49) | / | ((172.511 + 100.559) / 1239.271) |
| = | 0.359145 | / | 0.220347 |
| | = | 1.6299 |
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 |
| = | (81.279 - -9.23 | - | 271.11) | / | 1973.49 |
| | = | -0.091514 |
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.
Atlas Energy Solutions has a M-score of 8.58 signals that the company is likely to be a manipulator.
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