GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Beijer Alma AB (LTS:0YG7) » Definitions » Beneish M-Score

Beijer Alma AB (LTS:0YG7) Beneish M-Score : -2.23 (As of Mar. 31, 2025)


View and export this data going back to 2008. Start your Free Trial

What is Beijer Alma AB Beneish M-Score?

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.

Good Sign:

Beneish M-Score -2.23 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Beijer Alma AB's Beneish M-Score or its related term are showing as below:

LTS:0YG7' s Beneish M-Score Range Over the Past 10 Years
Min: -2.75   Med: -2.43   Max: -2.01
Current: -2.23

During the past 13 years, the highest Beneish M-Score of Beijer Alma AB was -2.01. The lowest was -2.75. And the median was -2.43.


Beijer Alma AB Beneish M-Score Historical Data

The historical data trend for Beijer Alma AB'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.

Beijer Alma AB Beneish M-Score Chart

Beijer Alma AB Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.75 -2.21 -2.01 -2.57 -2.23

Beijer Alma AB 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 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 -2.57 -2.53 -2.74 -2.52 -2.23

Competitive Comparison of Beijer Alma AB's Beneish M-Score

For the Specialty Industrial Machinery subindustry, Beijer Alma AB'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.


Beijer Alma AB's Beneish M-Score Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Beijer Alma AB's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Beijer Alma AB's Beneish M-Score falls into.


;
;

Beijer Alma AB 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 Beijer Alma AB 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 * 1.2542+0.528 * 0.9465+0.404 * 1.016+0.892 * 1.0466+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0847+4.679 * 0.004242-0.327 * 1.0131
=-2.23

* 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 kr1,314 Mil.
Revenue was 1823 + 1683 + 1885 + 1812 = kr7,203 Mil.
Gross Profit was 555 + 524 + 597 + 560 = kr2,236 Mil.
Total Current Assets was kr3,515 Mil.
Total Assets was kr9,430 Mil.
Property, Plant and Equipment(Net PPE) was kr1,814 Mil.
Depreciation, Depletion and Amortization(DDA) was kr0 Mil.
Selling, General, & Admin. Expense(SGA) was kr1,334 Mil.
Total Current Liabilities was kr1,332 Mil.
Long-Term Debt & Capital Lease Obligation was kr2,966 Mil.
Net Income was 122 + 303 + 142 + 147 = kr714 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = kr0 Mil.
Cash Flow from Operations was 212 + 212 + 235 + 15 = kr674 Mil.
Total Receivables was kr1,001 Mil.
Revenue was 1694 + 1676 + 1819 + 1693 = kr6,882 Mil.
Gross Profit was 484 + 505 + 522 + 511 = kr2,022 Mil.
Total Current Assets was kr3,127 Mil.
Total Assets was kr8,373 Mil.
Property, Plant and Equipment(Net PPE) was kr1,662 Mil.
Depreciation, Depletion and Amortization(DDA) was kr0 Mil.
Selling, General, & Admin. Expense(SGA) was kr1,175 Mil.
Total Current Liabilities was kr1,319 Mil.
Long-Term Debt & Capital Lease Obligation was kr2,448 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)
=(1314 / 7203) / (1001 / 6882)
=0.182424 / 0.145452
=1.2542

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)
=(2022 / 6882) / (2236 / 7203)
=0.29381 / 0.310426
=0.9465

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 - (3515 + 1814) / 9430) / (1 - (3127 + 1662) / 8373)
=0.434889 / 0.428043
=1.016

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
=7203 / 6882
=1.0466

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))
=(0 / (0 + 1662)) / (0 / (0 + 1814))
=0 / 0
=1

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)
=(1334 / 7203) / (1175 / 6882)
=0.185201 / 0.170735
=1.0847

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)
=((2966 + 1332) / 9430) / ((2448 + 1319) / 8373)
=0.455779 / 0.449898
=1.0131

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
=(714 - 0 - 674) / 9430
=0.004242

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.

Beijer Alma AB has a M-score of -2.23 suggests that the company is unlikely to be a manipulator.


Beijer Alma AB Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Beijer Alma AB's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Beijer Alma AB Business Description

Traded in Other Exchanges
Address
Dragarbrunnsgatan 45, Box 1747, Uppsala, SWE, 751 47
Beijer Alma AB is a Sweden-based industrial group in manufacturing, industrial trade, machinery development, and selected niche technologies. It operates through two subgroups have two segments that make up operating segments: Lesjofors is a manufacturer of springs, wire, and flat-strip components in Europe, North America, and Asia. Beijer Tech focuses on industrial trading and manufacturing in the Nordic region. Beijer Alma's clients come from infrastructure, medical, energy, telecom, chassis springs, and other industrial sectors. It generates the majority of its revenue from Lesjofors segment.

Beijer Alma AB Headlines

No Headlines