Aker Solutions ASA Beneish M-Score Historical Data
The historical data trend for Aker Solutions ASA'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.
Aker Solutions ASA Beneish M-Score Chart
|
Aker Solutions ASA Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.16 |
-3.07 |
-2.71 |
-2.76 |
-1.60 |
|
Aker Solutions ASA Semi-Annual Data
|
|
Jun14 |
Dec14 |
Jun15 |
Dec15 |
Jun16 |
Dec16 |
Jun17 |
Dec17 |
Jun18 |
Dec18 |
Jun19 |
Dec19 |
Jun20 |
Dec20 |
Jun21 |
Dec21 |
Jun22 |
Dec22 |
Jun23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.71 |
- |
-2.76 |
- |
-1.60 |
Competitive Comparison of Aker Solutions ASA's Beneish M-Score
For the Oil & Gas Equipment & Services subindustry, Aker Solutions ASA'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.
Aker Solutions ASA's Beneish M-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Aker Solutions ASA's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Aker Solutions ASA's Beneish M-Score falls into.
Aker Solutions ASA 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 Aker Solutions ASA 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 * 0.7803 | + | 0.528 * 1.062 | + | 0.404 * 1.2221 | + | 0.892 * 1.2308 | + | 0.115 * 0.741 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8961 | + | 4.679 * 0.131409 | - | 0.327 * 0.7599 |
| = | -1.67 |
* 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 $1,013 Mil.
Revenue was $3,401 Mil.
Gross Profit was $1,369 Mil.
Total Current Assets was $2,275 Mil.
Total Assets was $3,910 Mil.
Property, Plant and Equipment(Net PPE) was $476 Mil.
Depreciation, Depletion and Amortization(DDA) was $129 Mil.
Selling, General, & Admin. Expense(SGA) was $68 Mil.
Total Current Liabilities was $1,728 Mil.
Long-Term Debt & Capital Lease Obligation was $277 Mil.
Net Income was $1,103 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $589 Mil.
|
Total Receivables was $1,055 Mil.
Revenue was $2,763 Mil.
Gross Profit was $1,181 Mil.
Total Current Assets was $1,955 Mil.
Total Assets was $3,349 Mil.
Property, Plant and Equipment(Net PPE) was $581 Mil.
Depreciation, Depletion and Amortization(DDA) was $109 Mil.
Selling, General, & Admin. Expense(SGA) was $62 Mil.
Total Current Liabilities was $1,789 Mil.
Long-Term Debt & Capital Lease Obligation was $470 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) |
| = | (1013.043 / 3401.236) | / | (1054.746 / 2763.332) |
| = | 0.297846 | / | 0.381694 |
| | = | 0.7803 |
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) |
| = | (1180.757 / 2763.332) | / | (1368.514 / 3401.236) |
| = | 0.427295 | / | 0.402358 |
| | = | 1.062 |
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 - (2274.632 + 475.762) / 3910.459) | / | (1 - (1955.446 + 580.561) / 3348.954) |
| = | 0.296657 | / | 0.242747 |
| | = | 1.2221 |
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 |
| = | 3401.236 | / | 2763.332 |
| | = | 1.2308 |
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)) |
| = | (109.007 / (109.007 + 580.561)) | / | (129.012 / (129.012 + 475.762)) |
| = | 0.15808 | / | 0.213323 |
| | = | 0.741 |
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) |
| = | (67.871 / 3401.236) | / | (61.538 / 2763.332) |
| = | 0.019955 | / | 0.022269 |
| | = | 0.8961 |
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) |
| = | ((276.888 + 1727.681) / 3910.459) | / | ((469.732 + 1789.354) / 3348.954) |
| = | 0.512617 | / | 0.674565 |
| | = | 0.7599 |
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 |
| = | (1103.096 - 0 | - | 589.228) | / | 3910.459 |
| | = | 0.131409 |
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.
Aker Solutions ASA has a M-score of -1.67 signals that the company is likely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
AKRTF has been successfully added to your