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BLLI (Bell Industries) Beneish M-Score : 0.00 (As of Oct. 31, 2024)


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What is Bell Industries Beneish M-Score?

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.

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

During the past 13 years, the highest Beneish M-Score of Bell Industries was 0.00. The lowest was 0.00. And the median was 0.00.


Bell Industries Beneish M-Score Historical Data

The historical data trend for Bell Industries'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.

Bell Industries Beneish M-Score Chart

Bell Industries Annual Data
Trend Dec00 Dec01 Dec02 Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.75 -1.51 -4.99 -3.00 -2.32

Bell Industries Quarterly Data
Dec05 Mar06 Jun06 Sep06 Dec06 Mar07 Jun07 Sep07 Dec07 Mar08 Jun08 Sep08 Dec08 Mar09 Jun09 Sep09 Dec09 Mar10 Jun10 Sep10
Beneish M-Score Get a 7-Day Free Trial 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 -5.29 -2.32 -2.77 -2.47 -0.85

Competitive Comparison of Bell Industries's Beneish M-Score

For the Information Technology Services subindustry, Bell Industries'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.


Bell Industries's Beneish M-Score Distribution in the Software Industry

For the Software industry and Technology sector, Bell Industries's Beneish M-Score distribution charts can be found below:

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



Bell Industries 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 Bell Industries 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 * 1.3002+0.528 * 1.0318+0.404 * 0.7595+0.892 * 1.104+0.115 * 1.1218
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8723+4.679 * 0.234728-0.327 * 1.0266
=-1.07

* 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 (Sep10) TTM:Last Year (Sep09) TTM:
Total Receivables was $18.1 Mil.
Revenue was 40.241 + 30.197 + 19.713 + 19.842 = $110.0 Mil.
Gross Profit was 8.095 + 6.494 + 4.036 + 3.643 = $22.3 Mil.
Total Current Assets was $27.6 Mil.
Total Assets was $29.1 Mil.
Property, Plant and Equipment(Net PPE) was $0.7 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.6 Mil.
Selling, General, & Admin. Expense(SGA) was $21.1 Mil.
Total Current Liabilities was $15.2 Mil.
Long-Term Debt & Capital Lease Obligation was $11.7 Mil.
Net Income was 1.763 + 0.622 + -1.469 + -0.981 = $-0.1 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.0 Mil.
Cash Flow from Operations was -2.577 + -1.621 + -3.024 + 0.325 = $-6.9 Mil.
Total Receivables was $12.6 Mil.
Revenue was 34.884 + 27.524 + 18.327 + 18.893 = $99.6 Mil.
Gross Profit was 6.644 + 6.144 + 3.715 + 4.309 = $20.8 Mil.
Total Current Assets was $22.8 Mil.
Total Assets was $24.6 Mil.
Property, Plant and Equipment(Net PPE) was $0.9 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.1 Mil.
Selling, General, & Admin. Expense(SGA) was $21.9 Mil.
Total Current Liabilities was $10.9 Mil.
Long-Term Debt & Capital Lease Obligation was $11.2 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)
=(18.143 / 109.993) / (12.639 / 99.628)
=0.164947 / 0.126862
=1.3002

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)
=(20.812 / 99.628) / (22.268 / 109.993)
=0.208897 / 0.202449
=1.0318

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 - (27.648 + 0.7) / 29.106) / (1 - (22.774 + 0.939) / 24.555)
=0.026043 / 0.03429
=0.7595

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
=109.993 / 99.628
=1.104

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))
=(1.101 / (1.101 + 0.939)) / (0.649 / (0.649 + 0.7))
=0.539706 / 0.481097
=1.1218

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)
=(21.12 / 109.993) / (21.931 / 99.628)
=0.192012 / 0.220129
=0.8723

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)
=((11.721 + 15.207) / 29.106) / ((11.217 + 10.912) / 24.555)
=0.92517 / 0.901201
=1.0266

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
=(-0.065 - 0 - -6.897) / 29.106
=0.234728

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.

Bell Industries has a M-score of -1.07 signals that the company is likely to be a manipulator.


Bell Industries Beneish M-Score Related Terms

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Bell Industries Business Description

Traded in Other Exchanges
N/A
Address
4400 W 96th Street, Indianapolis, IN, USA, 46268
Bell Industries Inc is an information technology managed services and solutions company. It provides transformational Next Generation Digital Workplace and Infrastructure Management Solutions to large and mid-market enterprises, as well as the public sector. It also offers End User Computing, Infrastructure Management and Cloud Computing, IT Lifecycle Services and Enterprise Mobility Management.
Executives
Newcastle Partners L P other: see attached explanation 5420 LYNDON B. JOHNSON FREEWAY, SUITE 1100, DALLAS TX 75240
Mark E Schwarz director, 10 percent owner, officer: Chairman, other: see attached explanation 5420 LYNDON B. JOHNSON FREEWAY, SUITE 1100, DALLAS TX 75240
Newcastle Capital Group Llc other: see attached explanation 5420 LYNDON B. JOHNSON FREEWAY, STE 1400, DALLAS TX 75240
Newcastle Capital Management Lp other: see attached explanation 5420 LYNDON B. JOHNSON FREEWAY, SUITE 1100, DALLAS TX 75240
Clinton J Coleman director, other: see attached explanation C/O NEWCASTLE CAPITAL MANAGEMENT, L.P., 200 CRESCENT COURT, SUITE 1400, DALLAS TX 75201
Dale Booth director

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