Amphenol Beneish M-Score Historical Data
The historical data trend for Amphenol'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.
Amphenol Beneish M-Score Chart
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Amphenol Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.56 |
-2.53 |
-2.19 |
-2.49 |
-2.63 |
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Amphenol Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-2.59 |
-2.62 |
-2.63 |
-2.63 |
-2.61 |
Competitive Comparison of Amphenol's Beneish M-Score
For the Electronic Components subindustry, Amphenol'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.
Amphenol's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Amphenol's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Amphenol's Beneish M-Score falls into.
Amphenol 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 Amphenol 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 * 1.03 | + | 0.528 * 0.9708 | + | 0.404 * 0.9941 | + | 0.892 * 0.9626 | + | 0.115 * 1.0179 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.066 | + | 4.679 * -0.033941 | - | 0.327 * 0.9189 |
| = | -2.65 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was R$12,456 Mil.
Revenue was 16215.723 + 16304.084 + 15799.889 + 14822.714 = R$63,142 Mil.
Gross Profit was 5423.002 + 5391.74 + 5178.227 + 4813.414 = R$20,806 Mil.
Total Current Assets was R$35,066 Mil.
Total Assets was R$83,275 Mil.
Property, Plant and Equipment(Net PPE) was R$6,532 Mil.
Depreciation, Depletion and Amortization(DDA) was R$2,036 Mil.
Selling, General, & Admin. Expense(SGA) was R$7,614 Mil.
Total Current Liabilities was R$17,046 Mil.
Long-Term Debt & Capital Lease Obligation was R$17,713 Mil.
Net Income was 2732.416 + 2520.457 + 2537.998 + 2235.129 = R$10,026 Mil.
Non Operating Income was 79.677 + -28.419 + 0.988 + 33.976 = R$86 Mil.
Cash Flow from Operations was 2985.39 + 4124.652 + 3052.61 + 2603.525 = R$12,766 Mil.
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Total Receivables was R$12,563 Mil.
Revenue was 15490.376 + 16990.9 + 17278.711 + 15833.625 = R$65,594 Mil.
Gross Profit was 4913.793 + 5442.102 + 5558.216 + 5068.9 = R$20,983 Mil.
Total Current Assets was R$33,304 Mil.
Total Assets was R$80,116 Mil.
Property, Plant and Equipment(Net PPE) was R$6,477 Mil.
Depreciation, Depletion and Amortization(DDA) was R$2,066 Mil.
Selling, General, & Admin. Expense(SGA) was R$7,420 Mil.
Total Current Liabilities was R$12,637 Mil.
Long-Term Debt & Capital Lease Obligation was R$23,756 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) |
| = | (12456.472 / 63142.41) | / | (12562.622 / 65593.612) |
| = | 0.197276 | / | 0.191522 |
| | = | 1.03 |
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) |
| = | (20983.011 / 65593.612) | / | (20806.383 / 63142.41) |
| = | 0.319894 | / | 0.329515 |
| | = | 0.9708 |
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 - (35066.258 + 6531.506) / 83274.705) | / | (1 - (33303.788 + 6476.894) / 80116.081) |
| = | 0.500475 | / | 0.503462 |
| | = | 0.9941 |
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 |
| = | 63142.41 | / | 65593.612 |
| | = | 0.9626 |
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)) |
| = | (2066.494 / (2066.494 + 6476.894)) | / | (2035.922 / (2035.922 + 6531.506)) |
| = | 0.241882 | / | 0.237635 |
| | = | 1.0179 |
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) |
| = | (7614.135 / 63142.41) | / | (7419.878 / 65593.612) |
| = | 0.120587 | / | 0.113119 |
| | = | 1.066 |
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) |
| = | ((17712.651 + 17046.353) / 83274.705) | / | ((23756.425 + 12637.105) / 80116.081) |
| = | 0.417402 | / | 0.45426 |
| | = | 0.9189 |
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 |
| = | (10026 - 86.222 | - | 12766.177) | / | 83274.705 |
| | = | -0.033941 |
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.
Amphenol has a M-score of -2.65 suggests that the company is unlikely to be a manipulator.
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