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Consumers Energy Co (Consumers Energy Co) Beneish M-Score : 0.00 (As of Jun. 21, 2024)


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

During the past 13 years, the highest Beneish M-Score of Consumers Energy Co was 0.00. The lowest was 0.00. And the median was 0.00.


Consumers Energy Co Beneish M-Score Historical Data

The historical data trend for Consumers Energy 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.

* Premium members only.

Consumers Energy Co Beneish M-Score Chart

Consumers Energy Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
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Consumers Energy Co Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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Competitive Comparison of Consumers Energy Co's Beneish M-Score

For the Utilities - Regulated Electric subindustry, Consumers Energy 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.


Consumers Energy Co's Beneish M-Score Distribution in the Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Consumers Energy Co's Beneish M-Score distribution charts can be found below:

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



Consumers Energy 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 Consumers Energy 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 * 1.0079+0.528 * 0.7669+0.404 * 0.9369+0.892 * 0.8731+0.115 * 1.0475
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0029+4.679 * -0.045733-0.327 * 1.0414
=-2.96

* 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 $873.00 Mil.
Revenue was 2097 + 1875 + 1596 + 1485 = $7,053.00 Mil.
Gross Profit was 920 + 830 + 614 + 594 = $2,958.00 Mil.
Total Current Assets was $2,842.00 Mil.
Total Assets was $32,209.00 Mil.
Property, Plant and Equipment(Net PPE) was $23,978.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,149.00 Mil.
Selling, General, & Admin. Expense(SGA) was $-169.00 Mil.
Total Current Liabilities was $2,214.00 Mil.
Long-Term Debt & Capital Lease Obligation was $11,054.00 Mil.
Net Income was 275 + 290 + 178 + 167 = $910.00 Mil.
Non Operating Income was 15 + 5 + 10 + 14 = $44.00 Mil.
Cash Flow from Operations was 979 + 464 + 207 + 689 = $2,339.00 Mil.
Total Receivables was $992.00 Mil.
Revenue was 2210 + 2180 + 1886 + 1802 = $8,078.00 Mil.
Gross Profit was 804 + 665 + 569 + 560 = $2,598.00 Mil.
Total Current Assets was $2,670.00 Mil.
Total Assets was $29,772.00 Mil.
Property, Plant and Equipment(Net PPE) was $21,785.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,096.00 Mil.
Selling, General, & Admin. Expense(SGA) was $-193.00 Mil.
Total Current Liabilities was $2,430.00 Mil.
Long-Term Debt & Capital Lease Obligation was $9,347.00 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)
=(873 / 7053) / (992 / 8078)
=0.123777 / 0.122803
=1.0079

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)
=(2598 / 8078) / (2958 / 7053)
=0.321614 / 0.419396
=0.7669

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 - (2842 + 23978) / 32209) / (1 - (2670 + 21785) / 29772)
=0.167313 / 0.178591
=0.9369

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
=7053 / 8078
=0.8731

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))
=(1096 / (1096 + 21785)) / (1149 / (1149 + 23978))
=0.0479 / 0.045728
=1.0475

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)
=(-169 / 7053) / (-193 / 8078)
=-0.023961 / -0.023892
=1.0029

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)
=((11054 + 2214) / 32209) / ((9347 + 2430) / 29772)
=0.411935 / 0.395573
=1.0414

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
=(910 - 44 - 2339) / 32209
=-0.045733

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.

Consumers Energy Co has a M-score of -2.96 suggests that the company is unlikely to be a manipulator.


Consumers Energy Co Beneish M-Score Related Terms

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Consumers Energy Co (Consumers Energy Co) Business Description

Traded in Other Exchanges
N/A
Address
One Energy Plaza, Jackson, MI, USA, 49201
Consumers Energy Co operates as an electric and gas utility in Michigan. The business activity of the group is functioned through three segments namely Electric Utility, Gas Utility, and Enterprises, its non-utility operations and investments. The Electric Utility segment refers to the generation, purchase, transmission, distribution, and sale of electricity. The Gas Utility segment is comprised of the purchase, transmission, storage, distribution, and sale of natural gas. The group primarily serves residential, commercial, and industrial customers. Geographically, it operates through the region of Michigan, US.
Executives
Ralph Izzo director PSEG 80 PARK PLAZA, T6B NEWARK NJ 07102-4194
Tonya L Berry officer: Senior Vice President ONE ENERGY PLAZA, JACKSON MI 49201
Scott B Mcintosh officer: VP, Controller, CAO ONE ENERGY PLAZA, JACKSON MI 49201
Leeroy Jr Wells officer: Senior Vice President ONE ENERGY PLAZA, JACKSON MI 49201
Ronald J Tanski director NATIONAL FUEL GAS COMPANY, 6363 MAIN ST, WILLIAMSVILLE NY 14221
Shaun M Johnson officer: SVP and General Counsel ONE ENERGY PLAZA, JACKSON MI 49201
Suzanne F. Shank director C/O PENSARE SPONSOR GROUP, LLC, 1720 PEACHTREE STREET, SUITE 629, ATLANTA GA 30309
Brandon J. Hofmeister officer: Senior Vice President ONE ENERGY PLAZA, JACKSON MI 49201
Rejji P Hayes officer: EVP/CFO ONE ENERGY PLAZA, JACKSON MI 49201
Jean-francois Brossoit officer: Senior Vice President ONE ENERGY PLAZA, JACKSON MI 49201
Catherine A Hendrian officer: Senior Vice President ONE ENERGY PLAZA, JACKSON MI 49201
Dhenuvakonda Rao Venkat officer: Senior Vice President ONE ENERGY PLAZA, JACKSON MI 49201
Brian F Rich officer: SVP and CIO ONE ENERGY PLAZA, JACKSON MI 49201
John G Sznewajs director 17450 COLLEGE PARKWAY, LIVONIA MI 48152
Garrick J Rochow officer: Vice President ONE ENERGY PLAZA, JACKSON MI 49201

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