Pall (BUE:PLL) Beneish M-Score : 0.00 (As of May. 20, 2024)

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What is Pall 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 Pall's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Pall was 0.00. The lowest was -2.86. And the median was -2.56.

Pall Beneish M-Score Historical Data

The historical data trend for Pall'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.

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Pall Beneish M-Score Chart

Pall Annual Data

Trend

Jul05

Jul06

Jul07

Jul08

Jul09

Jul10

Jul11

Jul12

Jul13

Jul14

Beneish M-Score

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-2.69

-2.46

-2.67

-2.37

-2.47

Pall Quarterly Data
	Jul10	Oct10	Jan11	Apr11	Jul11	Oct11	Jan12	Apr12	Jul12	Oct12	Jan13	Apr13	Jul13	Oct13	Jan14	Apr14	Jul14	Oct14	Jan15	Apr15
Beneish M-Score	Get a 7-Day Free Trial															-2.58	-2.47	-2.60	-2.67	-2.86

Competitive Comparison of Pall's Beneish M-Score

For the Specialty Industrial Machinery subindustry, Pall'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.

Pall's Beneish M-Score Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Pall's Beneish M-Score distribution charts can be found below:

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

Pall 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 Pall for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.7906

0.528 * 0.9959

0.404 * 0.9899

0.892 * 1.3639

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9664

4.679 * -0.037919

0.327 * 1.2265

-2.60

This Year (Apr15) TTM:

Last Year (Apr14) TTM:

Total Receivables was ARS4,873.50 Mil.
Revenue was 6065.392 + 5821.243 + 5905.556 + 6527.625 = ARS24,319.82 Mil.
Gross Profit was 3164.713 + 2946.225 + 3064.378 + 3330.227 = ARS12,505.54 Mil.
Total Current Assets was ARS19,436.56 Mil.
Total Assets was ARS33,306.90 Mil.
Property, Plant and Equipment(Net PPE) was ARS6,458.22 Mil.
Depreciation, Depletion and Amortization(DDA) was ARS0.00 Mil.
Selling, General, & Admin. Expense(SGA) was ARS6,949.40 Mil.
Total Current Liabilities was ARS11,509.76 Mil.
Long-Term Debt & Capital Lease Obligation was ARS3,325.66 Mil.
Net Income was 856.427 + 729.165 + 748.467 + 979.902 = ARS3,313.96 Mil.
Non Operating Income was -22.618 + -107.786 + 0 + 259.798 = ARS129.39 Mil.
Cash Flow from Operations was 1088.43 + 1068.093 + 971.159 + 1319.864 = ARS4,447.55 Mil.

Total Receivables was ARS4,519.39 Mil.
Revenue was 5460.925 + 4787.525 + 3682.948 + 3899.49 = ARS17,830.89 Mil.
Gross Profit was 2785.288 + 2434.6 + 1904.775 + 2006.696 = ARS9,131.36 Mil.
Total Current Assets was ARS16,222.84 Mil.
Total Assets was ARS29,177.41 Mil.
Property, Plant and Equipment(Net PPE) was ARS6,395.17 Mil.
Depreciation, Depletion and Amortization(DDA) was ARS0.00 Mil.
Selling, General, & Admin. Expense(SGA) was ARS5,272.48 Mil.
Total Current Liabilities was ARS6,885.82 Mil.
Long-Term Debt & Capital Lease Obligation was ARS3,710.26 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)
	=	(4873.498 / 24319.816)	/	(4519.386 / 17830.888)
	=	0.200392	/	0.253458
	=	0.7906

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)
	=	(9131.359 / 17830.888)	/	(12505.543 / 24319.816)
	=	0.512109	/	0.514212
	=	0.9959

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 - (19436.556 + 6458.223) / 33306.899)	/	(1 - (16222.839 + 6395.174) / 29177.413)
	=	0.22254	/	0.224811
	=	0.9899

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
	=	24319.816	/	17830.888
	=	1.3639

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))
	=	(0 / (0 + 6395.174))	/	(0 / (0 + 6458.223))
	=	0	/	0
	=	1

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)
	=	(6949.399 / 24319.816)	/	(5272.483 / 17830.888)
	=	0.28575	/	0.295694
	=	0.9664

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)
	=	((3325.656 + 11509.761) / 33306.899)	/	((3710.255 + 6885.817) / 29177.413)
	=	0.445416	/	0.36316
	=	1.2265

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
	=	(3313.961 - 129.394	-	4447.546)	/	33306.899
	=	-0.037919

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.

Pall has a M-score of -2.60 suggests that the company is unlikely to be a manipulator.

Pall Beneish M-Score Related Terms

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Pall (BUE:PLL) Business Description

Industry

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Comparable Companies

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Address

Website

http://www.pall.com

Pall Corporation is a New York corporation incorporated on July 31, 1946. The Company supplies filtration, separation and purification technologies. Its products are used to remove solid, liquid and gaseous contaminants from a variety of liquids and gases. Its serves its customers through two businesses: Life Sciences and Industrial. The Life Sciences business group is engaged in developing, manufacturing and selling products to customers in the BioPharmaceutical, Food & Beverage and Medical markets. The Industrial business group is engaged in developing, manufacturing and selling products to customers in the Process Technologies, Aerospace and Microelectronics markets. The Life Sciences technologies facilitate the process of drug discovery, development, regulatory validation and production, and are used in research laboratories, and the pharmaceutical and biotechnology industries. It also supplies products and technologies for food and beverage industries and in hospitals at the point of patient care. The Industrial segment provides enabling and process-enhancing technologies throughout the industrial marketplace. These include the Process Technologies, Aerospace and Microelectronics markets. It has the capability to provide customers with integrated solutions using its proprietary consumable filtration products for their process fluids. The Company's competition varies by product and application. Its competitors in the BioPharmaceuticals market include Merck Millipore (a division of Merck KGaA), The Sartorius Group and GE Healthcare (a unit of General Electric Company ("GE")). Its competitors in the Food & Beverage market include 3M Purification, Pentair, Inc., Filtrox Group, The Sartorius Group, Eaton Corporation and Parker Domnick Hunter (a division of Parker Hannifin). Its competitors in the Medical market include Merck Millipore, GE Healthcare, Teleflex Incorporated, Covidien plc and Intersurgical, Ltd. Its competitors in the Process Technologies market include CLARCOR Inc., Donaldson Company, Inc., Parker Hannifin Corporation, HYDAC International GmbH, GE Infrastructure (a unit of GE), Pentair, Inc., 3M Purification, U.S. Filter (a unit of Siemens AG) and ESCO Technologies Inc. Its competitors in the Aerospace market include Donaldson Company, Inc. and ESCO Technologies Inc. Its competitors in the Microelectronics market include Entegris, Inc., Parker Hannifin Corporation and Mott Corporation. The Company is subject to competition in all of the global markets in which it operates.