Colgate-Palmolive Co Beneish M-Score Historical Data
The historical data trend for Colgate-Palmolive Co'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.
Colgate-Palmolive Co Beneish M-Score Chart
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Colgate-Palmolive Co Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.53 |
-2.86 |
-2.62 |
-2.36 |
-2.72 |
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Colgate-Palmolive Co Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
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Mar22 |
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Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-2.54 |
-2.56 |
-2.60 |
-2.72 |
-2.64 |
Competitive Comparison of Colgate-Palmolive Co's Beneish M-Score
For the Household & Personal Products subindustry, Colgate-Palmolive Co'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.
Colgate-Palmolive Co's Beneish M-Score Distribution in the Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Colgate-Palmolive Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Colgate-Palmolive Co's Beneish M-Score falls into.
Colgate-Palmolive Co 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 Colgate-Palmolive Co 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 * 1.5664 | + | 0.528 * 0.9538 | + | 0.404 * 0.9898 | + | 0.892 * 3.1045 | + | 0.115 * 1.3424 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0231 | + | 4.679 * -0.020216 | - | 0.327 * 0.9873 |
| = | -0.17 |
* 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 ARS1,527,453 Mil.
Revenue was 4267262.573 + 1786950.002 + 1720004.297 + 1157279.991 = ARS8,931,497 Mil.
Gross Profit was 2560357.544 + 1064950.001 + 1006806.178 + 668879.995 = ARS5,300,994 Mil.
Total Current Assets was ARS4,751,700 Mil.
Total Assets was ARS13,961,068 Mil.
Property, Plant and Equipment(Net PPE) was ARS3,788,723 Mil.
Depreciation, Depletion and Amortization(DDA) was ARS265,718 Mil.
Selling, General, & Admin. Expense(SGA) was ARS3,327,042 Mil.
Total Current Liabilities was ARS4,477,045 Mil.
Long-Term Debt & Capital Lease Obligation was ARS6,867,218 Mil.
Net Income was 575427.51 + 259198 + 247764.607 + 120479.999 = ARS1,202,870 Mil.
Non Operating Income was -18535 + -44403 + -5249.25 + -6960 = ARS-75,147 Mil.
Cash Flow from Operations was 573742.51 + 410096 + 403142.411 + 173279.999 = ARS1,560,261 Mil.
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Total Receivables was ARS314,105 Mil.
Revenue was 942313.522 + 776051.829 + 619022.241 + 539559.727 = ARS2,876,947 Mil.
Gross Profit was 535755.612 + 431531.088 + 354044.595 + 307322.824 = ARS1,628,654 Mil.
Total Current Assets was ARS1,079,808 Mil.
Total Assets was ARS3,194,976 Mil.
Property, Plant and Equipment(Net PPE) was ARS861,911 Mil.
Depreciation, Depletion and Amortization(DDA) was ARS83,144 Mil.
Selling, General, & Admin. Expense(SGA) was ARS1,047,496 Mil.
Total Current Liabilities was ARS877,320 Mil.
Long-Term Debt & Capital Lease Obligation was ARS1,752,269 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) |
| = | (1527452.526 / 8931496.863) | / | (314104.507 / 2876947.319) |
| = | 0.171019 | / | 0.10918 |
| | = | 1.5664 |
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) |
| = | (1628654.119 / 2876947.319) | / | (5300993.718 / 8931496.863) |
| = | 0.566105 | / | 0.593517 |
| | = | 0.9538 |
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 - (4751700.081 + 3788722.564) / 13961067.737) | / | (1 - (1079808.325 + 861910.67) / 3194976.224) |
| = | 0.388269 | / | 0.392259 |
| | = | 0.9898 |
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 |
| = | 8931496.863 | / | 2876947.319 |
| | = | 3.1045 |
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)) |
| = | (83143.99 / (83143.99 + 861910.67)) | / | (265717.803 / (265717.803 + 3788722.564)) |
| = | 0.087978 | / | 0.065537 |
| | = | 1.3424 |
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) |
| = | (3327041.943 / 8931496.863) | / | (1047496.46 / 2876947.319) |
| = | 0.372507 | / | 0.3641 |
| | = | 1.0231 |
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) |
| = | ((6867217.617 + 4477045.076) / 13961067.737) | / | ((1752268.541 + 877319.57) / 3194976.224) |
| = | 0.812564 | / | 0.823038 |
| | = | 0.9873 |
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 |
| = | (1202870.116 - -75147.25 | - | 1560260.92) | / | 13961067.737 |
| | = | -0.020216 |
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.
Colgate-Palmolive Co has a M-score of -0.17 signals that the company is likely to be a manipulator.
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