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Altice Europe NV Beneish M-Score

: 0.00 (As of Today)
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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 Altice Europe NV's Beneish M-Score or its related term are showing as below:

During the past 10 years, the highest Beneish M-Score of Altice Europe NV was 0.00. The lowest was 0.00. And the median was 0.00.


Altice Europe NV Beneish M-Score Historical Data

The historical data trend for Altice Europe NV'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.

Altice Europe NV Annual Data
Trend Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19
Beneish M-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -0.96 -2.32 -2.49 -3.27 -2.86

Altice Europe NV Quarterly Data
Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20
Beneish M-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -3.01 -2.86 -3.09 -3.04 -3.03

Competitive Comparison

For the Telecom Services subindustry, Altice Europe NV'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.

   

Altice Europe NV Beneish M-Score Distribution

For the Telecommunication Services industry and Communication Services sector, Altice Europe NV's Beneish M-Score distribution charts can be found below:

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



Altice Europe NV 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 Altice Europe NV 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 * 1.0212+0.528 * 0.9843+0.404 * 0.964+0.892 * 1.0402+0.115 * 0.9938
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * -0.1596-0.327 * 1.0205
=-3.03

* 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 (Sep20) TTM:Last Year (Sep19) TTM:
Total Receivables was €4,776 Mil.
Revenue was 3765.1 + 3539.9 + 3625.3 + 4032.4 = €14,963 Mil.
Gross Profit was 2745.7 + 2627.6 + 2653.9 + 2912.8 = €10,940 Mil.
Total Current Assets was €6,904 Mil.
Total Assets was €45,511 Mil.
Property, Plant and Equipment(Net PPE) was €14,184 Mil.
Depreciation, Depletion and Amortization(DDA) was €5,162 Mil.
Selling, General, & Admin. Expense(SGA) was €0 Mil.
Total Current Liabilities was €10,295 Mil.
Long-Term Debt & Capital Lease Obligation was €33,647 Mil.
Net Income was -393.2 + -502.6 + -123.8 + -445.7 = €-1,465 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = €0 Mil.
Cash Flow from Operations was 1558.1 + 1270.5 + 1455.7 + 1515 = €5,799 Mil.
Total Receivables was €4,497 Mil.
Revenue was 3659.5 + 3593.2 + 3511.2 + 3621.2 = €14,385 Mil.
Gross Profit was 2709.1 + 2616.2 + 2610.2 + 2416.6 = €10,352 Mil.
Total Current Assets was €9,013 Mil.
Total Assets was €51,280 Mil.
Property, Plant and Equipment(Net PPE) was €13,720 Mil.
Depreciation, Depletion and Amortization(DDA) was €4,951 Mil.
Selling, General, & Admin. Expense(SGA) was €1,359 Mil.
Total Current Liabilities was €13,149 Mil.
Long-Term Debt & Capital Lease Obligation was €35,368 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)
=(4776.4 / 14962.7) / (4496.7 / 14385.1)
=0.31922046 / 0.31259428
=1.0212

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)
=(10352.1 / 14385.1) / (10940 / 14962.7)
=0.71964046 / 0.73115146
=0.9843

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 - (6904.4 + 14183.7) / 45510.7) / (1 - (9013 + 13719.6) / 51280.2)
=0.53663424 / 0.5566983
=0.964

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
=14962.7 / 14385.1
=1.0402

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))
=(4950.7 / (4950.7 + 13719.6)) / (5162 / (5162 + 14183.7))
=0.26516446 / 0.26682932
=0.9938

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 / 14962.7) / (1358.5 / 14385.1)
=0 / 0.09443799
=0

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)
=((33646.8 + 10294.5) / 45510.7) / ((35367.6 + 13148.5) / 51280.2)
=0.9655158 / 0.9460981
=1.0205

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
=(-1465.3 - 0 - 5799.3) / 45510.7
=-0.1596

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.

Altice Europe NV has a M-score of -3.03 suggests that the company is unlikely to be a manipulator.


Altice Europe NV Beneish M-Score Related Terms

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Altice Europe NV Business Description

Altice Europe NV logo
Traded in Other Exchanges
N/A
Address
Oostdam 1, Woerden, NLD, 3441 EM
Altice Europe NV is engaged in telecom, content, media, entertainment and advertising. The company delivers products and solutions over fibre networks and mobile broadband. It is also a provider of enterprise digital solutions to business customers. The company's segments areFrance, Portugal, Israel, Dominican Republic, Teads, Altice TV, and Others.

Altice Europe NV Headlines

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