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Centrus Energy Beneish M-Score

: -3.37 (As of Today)
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The zones of discrimination for M-Score is as such:

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.

Good Sign:

Beneish M-Score -3.37 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Centrus Energy's Beneish M-Score or its related term are showing as below:

AMEX:LEU' s Beneish M-Score Range Over the Past 10 Years
Min: -8.72   Med: -2.83   Max: 3.23
Current: -3.37

-8.72
3.23

During the past 13 years, the highest Beneish M-Score of Centrus Energy was 3.23. The lowest was -8.72. And the median was -2.83.


Centrus Energy Beneish M-Score Historical Data

The historical data trend for Centrus Energy'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.

* Premium members only.

Centrus Energy Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Beneish M-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -3.36 -0.37 -4.02 -4.10 -2.60

Centrus Energy Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
Beneish M-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.53 -3.76 -2.60 -2.97 -3.37

Competitive Comparison

For the Uranium subindustry, Centrus Energy'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.

   

Centrus Energy Beneish M-Score Distribution

For the Other Energy Sources industry and Energy sector, Centrus Energy's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Centrus Energy's Beneish M-Score falls into.



Centrus Energy 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 Centrus Energy 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 * 0.5448+0.528 * 1.4593+0.404 * 0.8231+0.892 * 0.8698+0.115 * 1.1259
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9743+4.679 * -0.1163-0.327 * 1.0014
=-3.37

* 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 (Jun21) TTM:Last Year (Jun20) TTM:
Accounts Receivable was $11.8 Mil.
Revenue was 62.4 + 55.6 + 92.9 + 33.6 = $244.5 Mil.
Gross Profit was 17.1 + 11.7 + 35 + -0.8 = $63.0 Mil.
Total Current Assets was $425.9 Mil.
Total Assets was $500.6 Mil.
Property, Plant and Equipment(Net PPE) was $5.1 Mil.
Depreciation, Depletion and Amortization(DDA) was $7.9 Mil.
Selling, General, & Admin. Expense(SGA) was $35.0 Mil.
Total Current Liabilities was $350.1 Mil.
Long-Term Debt & Capital Lease Obligation was $104.9 Mil.
Net Income was 11.6 + 5.1 + 16.4 + -7 = $26.1 Mil.
Non Operating Income was 4.3 + 4.3 + -5 + 2.3 = $5.9 Mil.
Cash Flow from Operations was 11.4 + -8.5 + 61.9 + 13.6 = $78.4 Mil.
Accounts Receivable was $24.9 Mil.
Revenue was 75.7 + 45 + 55.7 + 104.7 = $281.1 Mil.
Gross Profit was 43.8 + 19.6 + 6.8 + 35.5 = $105.7 Mil.
Total Current Assets was $386.1 Mil.
Total Assets was $468.9 Mil.
Property, Plant and Equipment(Net PPE) was $3.6 Mil.
Depreciation, Depletion and Amortization(DDA) was $7.8 Mil.
Selling, General, & Admin. Expense(SGA) was $41.3 Mil.
Total Current Liabilities was $314.6 Mil.
Long-Term Debt & Capital Lease Obligation was $111.0 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Accounts Receivable 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)
=(11.8 / 244.5) / (24.9 / 281.1)
=0.04826176 / 0.08858058
=0.5448

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)
=(105.7 / 281.1) / (63 / 244.5)
=0.37602277 / 0.25766871
=1.4593

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 - (425.9 + 5.1) / 500.6) / (1 - (386.1 + 3.6) / 468.9)
=0.13903316 / 0.16890595
=0.8231

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
=244.5 / 281.1
=0.8698

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))
=(7.8 / (7.8 + 3.6)) / (7.9 / (7.9 + 5.1))
=0.68421053 / 0.60769231
=1.1259

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)
=(35 / 244.5) / (41.3 / 281.1)
=0.14314928 / 0.1469228
=0.9743

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)
=((104.9 + 350.1) / 500.6) / ((111 + 314.6) / 468.9)
=0.90890931 / 0.90765622
=1.0014

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
=(26.1 - 5.9 - 78.4) / 500.6
=-0.1163

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.

Centrus Energy has a M-score of -3.37 suggests that the company is unlikely to be a manipulator.


Centrus Energy Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Centrus Energy's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Centrus Energy Business Description

Centrus Energy logo
Industry
Energy » Other Energy Sources NAICS : 212291 SIC : 1481
Traded in Other Exchanges
Address
6901 Rockledge Drive, Suite 800, Bethesda, MD, USA, 20817
Centrus Energy Corpis engaged in the supply of nuclear fuel and services for the nuclear power industry. It operates through the Low-Enriched Uranium (LEU) and Technical solutions segments. The LEU segment has two components which include the sale of separative work units and uranium. The Technical Solutions segment provides advanced engineering, design, and manufacturing services to government and private sector customers. The majority of the firm's revenue gets derived from the LEU segment. It has a business presence in the US and other countries, of which prime revenue is generated in the US.
Executives
Subin Neil S director, 10 percent owner 2336 S.E. OCEAN BOULEVARD, #400 STUART FL 34996
Jamieson Patricia J director C/O TITANIUM ASSET MANAGEMENT CORP. 777 E. WISCONSIN AVE. MILWAUKEE WI 53202
Jonas Tina W director C/O PASSUR AEROSPACE, INC ONE LANDMARK SQUARE, SUITE 1900 STAMFORD CT 06901
Madia William J director 6903 ROCKLEDGE DRIVE BETHESDA MD 20817
Williams Mikel H director 21255 BURBANK BOULEVARD SUITE 400 WOODLAND HILLS CA 91367
Jagodinski W T director 6415 THOMAS DRIVE UNIT 1702 PANAMA CITY BEACH FL 32408
Diament Michael director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: DIAMENT MICHAEL a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Strawbridge Philip O officer: SVP, CFO, CAO & Treasurer 6901 ROCKLEDGE DRIVE SUITE 800 BETHESDA MD 20817
Poneman Daniel B officer: President & CEO 6903 ROCKLEDGE DRIVE BETHESDA MD 20817
Iguchi Tetsuo director 6901 ROCKLEDGE DRIVE SUITE 800 BETHESDA MD 20817
Bawabeh Morris 10 percent owner 15 OCEAN AVENUE BROOKLYN NY 11225
Kulayba Llc 10 percent owner 15 OCEAN AVENUE BROOKLYN NY 11225
Hood Osbert Martin director 60 STATE ST BOSTON MA 02109
Morrell Michael P director 10435 DOWNSVILLE PIKE HAGERSTOWN MD 21740
Lunat Suleman director TWO DEMOCRACY CENTER 6903 ROCKLEDGE DRIVE BETHESDA MD 20817

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