AUTO1 Group Beneish M-Score Historical Data
The historical data trend for AUTO1 Group'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.
AUTO1 Group Beneish M-Score Chart
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AUTO1 Group Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
0.21 |
-1.96 |
-2.46 |
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AUTO1 Group Quarterly Data
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Sep19 |
Dec19 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
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-2.65 |
-2.46 |
-1.87 |
-1.87 |
-1.26 |
Competitive Comparison of AUTO1 Group's Beneish M-Score
For the Auto & Truck Dealerships subindustry, AUTO1 Group'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.
AUTO1 Group's Beneish M-Score Distribution in the Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, AUTO1 Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where AUTO1 Group's Beneish M-Score falls into.
AUTO1 Group 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 AUTO1 Group 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 * 2.3802 | + | 0.528 * 0.817 | + | 0.404 * 1.0867 | + | 0.892 * 1.0763 | + | 0.115 * 1.0299 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.868 | + | 4.679 * -0.00767 | - | 0.327 * 0.9354 |
| = | -1.19 |
* 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 $348 Mil.
Revenue was 1775.164 + 1634.248 + 1580.805 + 1443.543 = $6,434 Mil.
Gross Profit was 207.677 + 186.561 + 177.116 + 145.885 = $717 Mil.
Total Current Assets was $1,746 Mil.
Total Assets was $2,244 Mil.
Property, Plant and Equipment(Net PPE) was $163 Mil.
Depreciation, Depletion and Amortization(DDA) was $48 Mil.
Selling, General, & Admin. Expense(SGA) was $164 Mil.
Total Current Liabilities was $477 Mil.
Long-Term Debt & Capital Lease Obligation was $0 Mil.
Net Income was 8.495 + 1.978 + -3.765 + -23.917 = $-17 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 0 + 0 + 0 + 0 = $0 Mil.
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Total Receivables was $136 Mil.
Revenue was 1379.55 + 1452.378 + 1612.337 + 1533.178 = $5,977 Mil.
Gross Profit was 143.386 + 138.415 + 141.33 + 121.262 = $544 Mil.
Total Current Assets was $1,390 Mil.
Total Assets was $1,780 Mil.
Property, Plant and Equipment(Net PPE) was $146 Mil.
Depreciation, Depletion and Amortization(DDA) was $45 Mil.
Selling, General, & Admin. Expense(SGA) was $175 Mil.
Total Current Liabilities was $405 Mil.
Long-Term Debt & Capital Lease Obligation was $0 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) |
| = | (348.286 / 6433.76) | / | (135.946 / 5977.443) |
| = | 0.054134 | / | 0.022743 |
| | = | 2.3802 |
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) |
| = | (544.393 / 5977.443) | / | (717.239 / 6433.76) |
| = | 0.091075 | / | 0.111481 |
| | = | 0.817 |
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 - (1745.886 + 163.232) / 2243.752) | / | (1 - (1390.013 + 146.101) / 1780.47) |
| = | 0.14914 | / | 0.137242 |
| | = | 1.0867 |
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 |
| = | 6433.76 | / | 5977.443 |
| | = | 1.0763 |
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)) |
| = | (44.73 / (44.73 + 146.101)) | / | (48.099 / (48.099 + 163.232)) |
| = | 0.234396 | / | 0.2276 |
| | = | 1.0299 |
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) |
| = | (163.5 / 6433.76) | / | (175 / 5977.443) |
| = | 0.025413 | / | 0.029277 |
| | = | 0.868 |
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) |
| = | ((0 + 476.898) / 2243.752) | / | ((0 + 404.585) / 1780.47) |
| = | 0.212545 | / | 0.227235 |
| | = | 0.9354 |
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 |
| = | (-17.209 - 0 | - | 0) | / | 2243.752 |
| | = | -0.00767 |
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.
AUTO1 Group has a M-score of -1.19 signals that the company is likely to be a manipulator.
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