EFT (Eaton Vance Floating-rateome Trust) Beneish M-Score : -0.73 (As of Jul. 09, 2025)

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What is Eaton Vance Floating-rateome Trust Beneish M-Score?

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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.

Warning Sign:

Beneish M-Score -0.73 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Eaton Vance Floating-rateome Trust's Beneish M-Score or its related term are showing as below:

EFT' s Beneish M-Score Range Over the Past 10 Years
Min: -0.73 Med: -0.73 Max: -0.73
Current: -0.73

During the past 7 years, the highest Beneish M-Score of Eaton Vance Floating-rateome Trust was -0.73. The lowest was -0.73. And the median was -0.73.

Eaton Vance Floating-rateome Trust 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 Eaton Vance Floating-rateome Trust 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 * 0.49

0.528 * 1

0.404 * 1

0.892 * 3.6276

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.4079

4.679 * -0.049167

0.327 * 0.9787

-0.73

* 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 (May24) TTM:

Last Year (May23) TTM:

Total Receivables was $11.82 Mil.
Revenue was $56.13 Mil.
Gross Profit was $56.13 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $563.06 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.80 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $112.00 Mil.
Net Income was $55.32 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $83.00 Mil.

Total Receivables was $6.65 Mil.
Revenue was $15.47 Mil.
Gross Profit was $15.47 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $580.57 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.54 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $118.00 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)
	=	(11.819 / 56.133)	/	(6.649 / 15.474)
	=	0.210554	/	0.429689
	=	0.49

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)
	=	(15.474 / 15.474)	/	(56.133 / 56.133)
	=	1	/	1
	=	1

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 - (0 + 0) / 563.059)	/	(1 - (0 + 0) / 580.567)
	=	1	/	1
	=	1

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
	=	56.133	/	15.474
	=	3.6276

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 + 0))	/	(0 / (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)
	=	(0.802 / 56.133)	/	(0.542 / 15.474)
	=	0.014287	/	0.035026
	=	0.4079

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)
	=	((112 + 0) / 563.059)	/	((118 + 0) / 580.567)
	=	0.198913	/	0.20325
	=	0.9787

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
	=	(55.316 - 0	-	83)	/	563.059
	=	-0.049167

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.

Eaton Vance Floating-rateome Trust has a M-score of -0.73 signals that the company is likely to be a manipulator.

Eaton Vance Floating-rateome Trust Beneish M-Score Related Terms

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Eaton Vance Floating-rateome Trust Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Eaton Vance Floating-rate Income Trust (NYSE:EFT) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

One Post Office Square, Boston, MA, USA, 02109

Website

https://www.eatonvance.com

Eaton Vance Floating-rate Income Trust is a closed-end management investment company. The company's objective is to provide a high level of current income and its secondary objective is capital appreciation.

Executives

Kenneth A Topping	officer: President	TWO INTERNATIONAL PLACE, BOSTON MA 02110
Anchal Pachnanda	officer: Officer	TWO INTERNATIONAL PLACE, BOSTON MA 02110
Alan C. Bowser	other: Trustee	TWO INTERNATIONAL PLACE, BOSTON MA 02110
Nicholas Dilorenzo	officer: Secretary	TWO INTERNATIONAL PLACE, BOSTON MA 02110
Keith Quinton	other: Trustee	TWO INTERNATIONAL PLACE, BOSTON MA 02110
Sarah Anne Choi	other: Portfolio Manager	TWO INTERNATIONAL PLACE, BOSTON MA 02110
Nancy A Wiser	other: Trustee	WELLS FARGO FUNDS MANAGEMENT, 200 BERKELEY STREET, 19TH FLOOR, BOSTON MA 02116
Jill Damon	officer: Secretary	TWO INTERNATIONAL PLACE, BOSTON MA 02110
Kimberly M Roessiger	officer: Secretary	TWO INTERNATIONAL PLACE, BOSTON MA 02110
Saba Capital Management, L.p.	10 percent owner	405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174
Deidre E Walsh	officer: Vice President	TWO INTERNATIONAL PLACE, BOSTON MA 02110
Eric Stein	officer: President	TWO INTERNATIONAL PLACE, BOSTON MA 02110
Boaz Weinstein	10 percent owner	405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174
Catherine Mcdermott	other: Portfolio Manager	255 STATE STREET, BOSTON MA 02109
Andrew Sveen	other: Portfolio Manager	255 STATE STREET, BOSTON MA 02109