Evolution AB Beneish M-Score Historical Data
The historical data trend for Evolution AB'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.
Evolution AB Beneish M-Score Chart
|
Evolution AB Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.40 |
1.67 |
-1.76 |
-2.11 |
-2.42 |
|
Evolution AB Quarterly Data
|
|
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
- |
- |
- |
-2.42 |
- |
Competitive Comparison of Evolution AB's Beneish M-Score
For the Gambling subindustry, Evolution AB'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.
Evolution AB's Beneish M-Score Distribution in the Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Evolution AB's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Evolution AB's Beneish M-Score falls into.
Evolution AB 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 Evolution AB 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 * 1.0234 | + | 0.528 * 1 | + | 0.404 * 0.8725 | + | 0.892 * 1.271 | + | 0.115 * 0.9067 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1 | + | 4.679 * -0.019622 | - | 0.327 * 1.1215 |
| = | -2.41 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $397 Mil.
Revenue was $1,961 Mil.
Gross Profit was $1,961 Mil.
Total Current Assets was $1,878 Mil.
Total Assets was $5,424 Mil.
Property, Plant and Equipment(Net PPE) was $221 Mil.
Depreciation, Depletion and Amortization(DDA) was $136 Mil.
Selling, General, & Admin. Expense(SGA) was $0 Mil.
Total Current Liabilities was $612 Mil.
Long-Term Debt & Capital Lease Obligation was $71 Mil.
Net Income was $1,168 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $1,274 Mil.
|
Total Receivables was $305 Mil.
Revenue was $1,543 Mil.
Gross Profit was $1,543 Mil.
Total Current Assets was $1,175 Mil.
Total Assets was $4,629 Mil.
Property, Plant and Equipment(Net PPE) was $201 Mil.
Depreciation, Depletion and Amortization(DDA) was $106 Mil.
Selling, General, & Admin. Expense(SGA) was $0 Mil.
Total Current Liabilities was $451 Mil.
Long-Term Debt & Capital Lease Obligation was $69 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) |
| = | (397.333 / 1961.397) | / | (305.465 / 1543.154) |
| = | 0.202577 | / | 0.197948 |
| | = | 1.0234 |
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) |
| = | (1543.154 / 1543.154) | / | (1961.397 / 1961.397) |
| = | 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 - (1878.15 + 220.781) / 5423.647) | / | (1 - (1175.185 + 201.359) / 4628.571) |
| = | 0.613004 | / | 0.702598 |
| | = | 0.8725 |
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 |
| = | 1961.397 | / | 1543.154 |
| | = | 1.271 |
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)) |
| = | (106.333 / (106.333 + 201.359)) | / | (135.968 / (135.968 + 220.781)) |
| = | 0.345583 | / | 0.381131 |
| | = | 0.9067 |
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 / 1961.397) | / | (0 / 1543.154) |
| = | 0 | / | 0 |
| | = | 1 |
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) |
| = | ((71.466 + 612.13) / 5423.647) | / | ((69.023 + 451.158) / 4628.571) |
| = | 0.12604 | / | 0.112385 |
| | = | 1.1215 |
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 |
| = | (1167.784 - 0 | - | 1274.206) | / | 5423.647 |
| | = | -0.019622 |
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.
Evolution AB has a M-score of -2.41 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
EVVTY has been successfully added to your