Gulfport Energy Beneish M-Score Historical Data
The historical data trend for Gulfport 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.
Gulfport Energy Beneish M-Score Chart
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Gulfport Energy Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-3.54 |
-3.30 |
-1.28 |
0.50 |
0.80 |
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Gulfport Energy Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
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0.50 |
-0.38 |
-2.32 |
1.25 |
0.80 |
Competitive Comparison of Gulfport Energy's Beneish M-Score
For the Oil & Gas E&P subindustry, Gulfport 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.
Gulfport Energy's Beneish M-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Gulfport Energy's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Gulfport Energy's Beneish M-Score falls into.
Gulfport 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 Gulfport 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 * 1.0697 | + | 0.528 * 1.5 | + | 0.404 * 9.8115 | + | 0.892 * 0.4511 | + | 0.115 * 0.9209 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 2.424 | + | 4.679 * -0.004837 | - | 0.327 * 0.5233 |
| = | 0.80 |
* 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 $145 Mil.
Revenue was 263.055 + 227.25 + 207.918 + 353.16 = $1,051 Mil.
Gross Profit was 165.083 + 132.118 + 111.615 + 166.587 = $575 Mil.
Total Current Assets was $397 Mil.
Total Assets was $3,268 Mil.
Property, Plant and Equipment(Net PPE) was $2,267 Mil.
Depreciation, Depletion and Amortization(DDA) was $320 Mil.
Selling, General, & Admin. Expense(SGA) was $39 Mil.
Total Current Liabilities was $344 Mil.
Long-Term Debt & Capital Lease Obligation was $669 Mil.
Net Income was 245.731 + 608.444 + 93.687 + 523.054 = $1,471 Mil.
Non Operating Income was 233.543 + 40.855 + 98.726 + 390.415 = $764 Mil.
Cash Flow from Operations was 155.501 + 156.274 + 107.351 + 304.055 = $723 Mil.
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Total Receivables was $300 Mil.
Revenue was 545.922 + 665.997 + 638.205 + 480.735 = $2,331 Mil.
Gross Profit was 449.922 + 586.215 + 561.364 + 316.015 = $1,914 Mil.
Total Current Assets was $402 Mil.
Total Assets was $2,534 Mil.
Property, Plant and Equipment(Net PPE) was $2,084 Mil.
Depreciation, Depletion and Amortization(DDA) was $268 Mil.
Selling, General, & Admin. Expense(SGA) was $35 Mil.
Total Current Liabilities was $793 Mil.
Long-Term Debt & Capital Lease Obligation was $708 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) |
| = | (144.7 / 1051.383) | / | (299.882 / 2330.859) |
| = | 0.137628 | / | 0.128657 |
| | = | 1.0697 |
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) |
| = | (1913.516 / 2330.859) | / | (575.403 / 1051.383) |
| = | 0.820949 | / | 0.547282 |
| | = | 1.5 |
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 - (396.806 + 2266.598) / 3267.613) | / | (1 - (402.27 + 2084.443) / 2534.479) |
| = | 0.184908 | / | 0.018846 |
| | = | 9.8115 |
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 |
| = | 1051.383 | / | 2330.859 |
| | = | 0.4511 |
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)) |
| = | (267.761 / (267.761 + 2084.443)) | / | (319.715 / (319.715 + 2266.598)) |
| = | 0.113834 | / | 0.123618 |
| | = | 0.9209 |
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) |
| = | (38.6 / 1051.383) | / | (35.304 / 2330.859) |
| = | 0.036714 | / | 0.015146 |
| | = | 2.424 |
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) |
| = | ((668.722 + 344.454) / 3267.613) | / | ((708.454 + 793.32) / 2534.479) |
| = | 0.310066 | / | 0.592538 |
| | = | 0.5233 |
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 |
| = | (1470.916 - 763.539 | - | 723.181) | / | 3267.613 |
| | = | -0.004837 |
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.
Gulfport Energy has a M-score of 0.80 signals that the company is likely to be a manipulator.
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