New Fortress Energy Beneish M-Score Historical Data
The historical data trend for New Fortress Energy'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.
New Fortress Energy Beneish M-Score Chart
|
New Fortress Energy Annual Data
|
|
Trend |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
-2.53 |
0.85 |
-2.08 |
-2.45 |
-2.47 |
|
New Fortress Energy Quarterly Data
|
|
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.45 |
-2.54 |
-2.04 |
-2.29 |
-2.47 |
Competitive Comparison of New Fortress Energy's Beneish M-Score
For the Utilities - Regulated Gas subindustry, New Fortress Energy'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.
New Fortress Energy's Beneish M-Score Distribution in the Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, New Fortress Energy's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where New Fortress Energy's Beneish M-Score falls into.
New Fortress Energy 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 New Fortress Energy 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 * 1.1804 | + | 0.528 * 1.1848 | + | 0.404 * 0.9036 | + | 0.892 * 0.9803 | + | 0.115 * 1.4223 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.4148 | + | 4.679 * -0.027011 | - | 0.327 * 0.9973 |
| = | -2.42 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was €460 Mil.
Revenue was 648.443 + 511.349 + 397.618 + 635.095 = €2,193 Mil.
Gross Profit was 332.311 + 181.936 + 147.108 + 353.519 = €1,015 Mil.
Total Current Assets was €1,538 Mil.
Total Assets was €12,288 Mil.
Property, Plant and Equipment(Net PPE) was €9,584 Mil.
Depreciation, Depletion and Amortization(DDA) was €151 Mil.
Selling, General, & Admin. Expense(SGA) was €264 Mil.
Total Current Liabilities was €1,631 Mil.
Long-Term Debt & Capital Lease Obligation was €8,433 Mil.
Net Income was -213.505 + 8.378 + -82.545 + 49.755 = €-238 Mil.
Non Operating Income was -315.064 + 1.079 + -49.596 + -98.787 = €-462 Mil.
Cash Flow from Operations was 420.718 + -15.108 + 86.321 + 64.446 = €556 Mil.
|
Total Receivables was €397 Mil.
Revenue was 695.414 + 482.051 + 518.121 + 540.908 = €2,236 Mil.
Gross Profit was 393.249 + 234.353 + 268.073 + 330.852 = €1,227 Mil.
Total Current Assets was €899 Mil.
Total Assets was €9,630 Mil.
Property, Plant and Equipment(Net PPE) was €7,719 Mil.
Depreciation, Depletion and Amortization(DDA) was €174 Mil.
Selling, General, & Admin. Expense(SGA) was €190 Mil.
Total Current Liabilities was €1,565 Mil.
Long-Term Debt & Capital Lease Obligation was €6,343 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) |
| = | (459.778 / 2192.505) | / | (397.319 / 2236.494) |
| = | 0.209704 | / | 0.177653 |
| | = | 1.1804 |
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) |
| = | (1226.527 / 2236.494) | / | (1014.874 / 2192.505) |
| = | 0.548415 | / | 0.462883 |
| | = | 1.1848 |
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 - (1537.655 + 9584.312) / 12288.459) | / | (1 - (898.635 + 7719.392) / 9629.642) |
| = | 0.094926 | / | 0.105052 |
| | = | 0.9036 |
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 |
| = | 2192.505 | / | 2236.494 |
| | = | 0.9803 |
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)) |
| = | (173.597 / (173.597 + 7719.392)) | / | (150.537 / (150.537 + 9584.312)) |
| = | 0.021994 | / | 0.015464 |
| | = | 1.4223 |
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) |
| = | (263.912 / 2192.505) | / | (190.283 / 2236.494) |
| = | 0.12037 | / | 0.085081 |
| | = | 1.4148 |
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) |
| = | ((8433.475 + 1630.584) / 12288.459) | / | ((6342.905 + 1564.666) / 9629.642) |
| = | 0.818985 | / | 0.82117 |
| | = | 0.9973 |
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 |
| = | (-237.917 - -462.368 | - | 556.377) | / | 12288.459 |
| | = | -0.027011 |
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.
New Fortress Energy has a M-score of -2.42 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
FRA:NF0 has been successfully added to your