Traton SE Beneish M-Score Historical Data
The historical data trend for Traton SE'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.
Traton SE Beneish M-Score Chart
|
Traton SE Annual Data
|
|
Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
- |
-2.60 |
-2.17 |
-2.03 |
-2.43 |
|
Traton SE Quarterly Data
|
|
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.44 |
-2.43 |
-2.40 |
-2.30 |
-2.35 |
Competitive Comparison of Traton SE's Beneish M-Score
For the Farm & Heavy Construction Machinery subindustry, Traton SE'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.
Traton SE's Beneish M-Score Distribution in the Farm & Heavy Construction Machinery Industry
For the Farm & Heavy Construction Machinery industry and Industrials sector, Traton SE's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Traton SE's Beneish M-Score falls into.
Traton SE 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 Traton SE 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 * 1.0563 | + | 0.528 * 0.9171 | + | 0.404 * 0.9931 | + | 0.892 * 1.0432 | + | 0.115 * 1.0007 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0246 | + | 4.679 * 0.014822 | - | 0.327 * 0.9472 |
| = | -2.35 |
* 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 €11,386 Mil.
Revenue was 11866 + 11589 + 11798 + 12698 = €47,951 Mil.
Gross Profit was 2565 + 2454 + 2572 + 2456 = €10,047 Mil.
Total Current Assets was €23,913 Mil.
Total Assets was €65,106 Mil.
Property, Plant and Equipment(Net PPE) was €14,193 Mil.
Depreciation, Depletion and Amortization(DDA) was €2,888 Mil.
Selling, General, & Admin. Expense(SGA) was €5,449 Mil.
Total Current Liabilities was €23,275 Mil.
Long-Term Debt & Capital Lease Obligation was €0 Mil.
Net Income was 723 + 585 + 752 + 511 = €2,571 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = €0 Mil.
Cash Flow from Operations was 767 + -334 + 211 + 962 = €1,606 Mil.
|
Total Receivables was €10,333 Mil.
Revenue was 11322 + 11668 + 11186 + 11791 = €45,967 Mil.
Gross Profit was 2236 + 2270 + 2280 + 2047 = €8,833 Mil.
Total Current Assets was €21,286 Mil.
Total Assets was €61,048 Mil.
Property, Plant and Equipment(Net PPE) was €14,270 Mil.
Depreciation, Depletion and Amortization(DDA) was €2,906 Mil.
Selling, General, & Admin. Expense(SGA) was €5,098 Mil.
Total Current Liabilities was €23,042 Mil.
Long-Term Debt & Capital Lease Obligation was €0 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) |
| = | (11386 / 47951) | / | (10333 / 45967) |
| = | 0.237451 | / | 0.224792 |
| | = | 1.0563 |
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) |
| = | (8833 / 45967) | / | (10047 / 47951) |
| = | 0.19216 | / | 0.209526 |
| | = | 0.9171 |
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 - (23913 + 14193) / 65106) | / | (1 - (21286 + 14270) / 61048) |
| = | 0.414708 | / | 0.417573 |
| | = | 0.9931 |
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 |
| = | 47951 | / | 45967 |
| | = | 1.0432 |
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)) |
| = | (2906 / (2906 + 14270)) | / | (2888 / (2888 + 14193)) |
| = | 0.16919 | / | 0.169077 |
| | = | 1.0007 |
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) |
| = | (5449 / 47951) | / | (5098 / 45967) |
| = | 0.113637 | / | 0.110906 |
| | = | 1.0246 |
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 + 23275) / 65106) | / | ((0 + 23042) / 61048) |
| = | 0.357494 | / | 0.377441 |
| | = | 0.9472 |
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 |
| = | (2571 - 0 | - | 1606) | / | 65106 |
| | = | 0.014822 |
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.
Traton SE has a M-score of -2.35 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
CHIX:8TRAD has been successfully added to your