Diploma Beneish M-Score Historical Data
The historical data trend for Diploma'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.
Diploma Beneish M-Score Chart
|
Diploma Annual Data
|
|
Trend |
Sep14 |
Sep15 |
Sep16 |
Sep17 |
Sep18 |
Sep19 |
Sep20 |
Sep21 |
Sep22 |
Sep23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.51 |
-2.86 |
-2.34 |
-1.43 |
-2.37 |
|
Diploma Semi-Annual Data
|
|
Mar14 |
Sep14 |
Mar15 |
Sep15 |
Mar16 |
Sep16 |
Mar17 |
Sep17 |
Mar18 |
Sep18 |
Mar19 |
Sep19 |
Mar20 |
Sep20 |
Mar21 |
Sep21 |
Mar22 |
Sep22 |
Mar23 |
Sep23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.34 |
- |
-1.43 |
- |
-2.37 |
Competitive Comparison of Diploma's Beneish M-Score
For the Industrial Distribution subindustry, Diploma'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.
Diploma's Beneish M-Score Distribution in the Industrial Distribution Industry
For the Industrial Distribution industry and Industrials sector, Diploma's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Diploma's Beneish M-Score falls into.
Diploma 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 Diploma 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 * 0.959 | + | 0.528 * 0.933 | + | 0.404 * 1.0048 | + | 0.892 * 1.1851 | + | 0.115 * 0.9796 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0 | + | 4.679 * -0.044988 | - | 0.327 * 0.8131 |
| = | -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 (Sep23) TTM: | Last Year (Sep22) TTM: |
Total Receivables was £193 Mil.
Revenue was £1,200 Mil.
Gross Profit was £183 Mil.
Total Current Assets was £488 Mil.
Total Assets was £1,589 Mil.
Property, Plant and Equipment(Net PPE) was £131 Mil.
Depreciation, Depletion and Amortization(DDA) was £29 Mil.
Selling, General, & Admin. Expense(SGA) was £0 Mil.
Total Current Liabilities was £237 Mil.
Long-Term Debt & Capital Lease Obligation was £382 Mil.
Net Income was £118 Mil.
Gross Profit was £0 Mil.
Cash Flow from Operations was £189 Mil.
|
Total Receivables was £170 Mil.
Revenue was £1,013 Mil.
Gross Profit was £144 Mil.
Total Current Assets was £429 Mil.
Total Assets was £1,379 Mil.
Property, Plant and Equipment(Net PPE) was £112 Mil.
Depreciation, Depletion and Amortization(DDA) was £24 Mil.
Selling, General, & Admin. Expense(SGA) was £230 Mil.
Total Current Liabilities was £264 Mil.
Long-Term Debt & Capital Lease Obligation was £397 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) |
| = | (193.1 / 1200.3) | / | (169.9 / 1012.8) |
| = | 0.160876 | / | 0.167753 |
| | = | 0.959 |
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) |
| = | (144.3 / 1012.8) | / | (183.3 / 1200.3) |
| = | 0.142476 | / | 0.152712 |
| | = | 0.933 |
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 - (488.2 + 130.7) / 1589.3) | / | (1 - (429 + 112) / 1379) |
| = | 0.610583 | / | 0.607687 |
| | = | 1.0048 |
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 |
| = | 1200.3 | / | 1012.8 |
| | = | 1.1851 |
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)) |
| = | (23.9 / (23.9 + 112)) | / | (28.6 / (28.6 + 130.7)) |
| = | 0.175865 | / | 0.179535 |
| | = | 0.9796 |
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 / 1200.3) | / | (230.2 / 1012.8) |
| = | 0 | / | 0.227291 |
| | = | 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) |
| = | ((382 + 236.5) / 1589.3) | / | ((396.5 + 263.5) / 1379) |
| = | 0.389165 | / | 0.478608 |
| | = | 0.8131 |
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 |
| = | (117.7 - 0 | - | 189.2) | / | 1589.3 |
| | = | -0.044988 |
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.
Diploma has a M-score of -2.37 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
LSE:DPLM has been successfully added to your