Alphabet(Google) Beneish M-Score Historical Data
The historical data trend for Alphabet(Google)'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.
Alphabet(Google) Beneish M-Score Chart
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Alphabet(Google) Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.73 |
-2.79 |
-2.50 |
-2.72 |
-2.58 |
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Alphabet(Google) Quarterly Data
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Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
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-2.74 |
-2.58 |
-2.52 |
-2.44 |
-2.37 |
Competitive Comparison of Alphabet(Google)'s Beneish M-Score
For the Internet Content & Information subindustry, Alphabet(Google)'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.
Alphabet(Google)'s Beneish M-Score Distribution in the Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Alphabet(Google)'s Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Alphabet(Google)'s Beneish M-Score falls into.
Alphabet(Google) 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 Alphabet(Google) 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 * 1.0466 | + | 0.528 * 0.966 | + | 0.404 * 1.1213 | + | 0.892 * 1.1438 | + | 0.115 * 0.9062 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8634 | + | 4.679 * -0.031332 | - | 0.327 * 0.8576 |
| = | -2.37 |
* 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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was $49,104 Mil.
Revenue was 88268 + 84742 + 80539 + 86310 = $339,859 Mil.
Gross Profit was 51794 + 49235 + 46827 + 48735 = $196,591 Mil.
Total Current Assets was $157,541 Mil.
Total Assets was $430,266 Mil.
Property, Plant and Equipment(Net PPE) was $174,831 Mil.
Depreciation, Depletion and Amortization(DDA) was $14,422 Mil.
Selling, General, & Admin. Expense(SGA) was $43,153 Mil.
Total Current Liabilities was $80,803 Mil.
Long-Term Debt & Capital Lease Obligation was $23,951 Mil.
Net Income was 26301 + 23619 + 23662 + 20687 = $94,269 Mil.
Non Operating Income was 1996 + -897 + 1876 + -326 = $2,649 Mil.
Cash Flow from Operations was 30698 + 26640 + 28848 + 18915 = $105,101 Mil.
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Total Receivables was $41,020 Mil.
Revenue was 76693 + 74604 + 69787 + 76048 = $297,132 Mil.
Gross Profit was 43464 + 42688 + 39175 + 40706 = $166,033 Mil.
Total Current Assets was $176,310 Mil.
Total Assets was $396,711 Mil.
Property, Plant and Equipment(Net PPE) was $139,904 Mil.
Depreciation, Depletion and Amortization(DDA) was $10,378 Mil.
Selling, General, & Admin. Expense(SGA) was $43,696 Mil.
Total Current Liabilities was $86,295 Mil.
Long-Term Debt & Capital Lease Obligation was $26,331 Mil.
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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) |
| = | (49104 / 339859) | / | (41020 / 297132) |
| = | 0.144483 | / | 0.138053 |
| | = | 1.0466 |
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) |
| = | (166033 / 297132) | / | (196591 / 339859) |
| = | 0.558785 | / | 0.578449 |
| | = | 0.966 |
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 - (157541 + 174831) / 430266) | / | (1 - (176310 + 139904) / 396711) |
| = | 0.22752 | / | 0.202911 |
| | = | 1.1213 |
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 |
| = | 339859 | / | 297132 |
| | = | 1.1438 |
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)) |
| = | (10378 / (10378 + 139904)) | / | (14422 / (14422 + 174831)) |
| = | 0.069057 | / | 0.076205 |
| | = | 0.9062 |
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) |
| = | (43153 / 339859) | / | (43696 / 297132) |
| = | 0.126973 | / | 0.147059 |
| | = | 0.8634 |
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) |
| = | ((23951 + 80803) / 430266) | / | ((26331 + 86295) / 396711) |
| = | 0.243463 | / | 0.283899 |
| | = | 0.8576 |
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 |
| = | (94269 - 2649 | - | 105101) | / | 430266 |
| | = | -0.031332 |
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.
Alphabet(Google) has a M-score of -2.37 suggests that the company is unlikely to be a manipulator.
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