ANDV has been successfully added to your Stock Email Alerts list.
You can manage your stock email alerts here.
ANDV has been removed from your Stock Email Alerts list.
Please enter Portfolio Name for new portfolio.
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.
The historical rank and industry rank for Andeavor's Beneish M-Score or its related term are showing as below:
During the past 13 years, the highest Beneish M-Score of Andeavor was 0.00. The lowest was 0.00. And the median was 0.00.
The historical data trend for Andeavor'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.
Andeavor Annual Data | |||||||||||||||||||||
Trend | Dec08 | Dec09 | Dec10 | Dec11 | Dec12 | Dec13 | Dec14 | Dec15 | Dec16 | Dec17 | |||||||||||
Beneish M-Score | Get a 7-Day Free Trial | -2.29 | -2.40 | -3.41 | -2.27 | -1.58 |
Andeavor Quarterly Data | ||||||||||||||||||||
Sep13 | Dec13 | Mar14 | Jun14 | Sep14 | Dec14 | Mar15 | Jun15 | Sep15 | Dec15 | Mar16 | Jun16 | Sep16 | Dec16 | Mar17 | Jun17 | Sep17 | Dec17 | Mar18 | Jun18 | |
Beneish M-Score | Get a 7-Day Free Trial | -2.15 | -1.95 | -1.58 | -1.49 | -1.75 |
For the Oil & Gas Refining & Marketing subindustry, Andeavor'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.
For the Oil & Gas industry and Energy sector, Andeavor's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Andeavor's Beneish M-Score falls into.
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 Andeavor 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 * 1.2067 | + | 0.528 * 1.0444 | + | 0.404 * 0.9798 | + | 0.892 * 1.5627 | + | 0.115 * 0.8737 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 0.7485 | + | 4.679 * 0.005619 | - | 0.327 * 1.0921 | |||||||
= | -1.75 |
* 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 (Jun18) TTM: | Last Year (Jun17) TTM: |
Total Receivables was $2,623 Mil. Revenue was 12472 + 10300 + 10652 + 9836 = $43,260 Mil. Gross Profit was 2237 + 1691 + 1565 + 2295 = $7,788 Mil. Total Current Assets was $7,160 Mil. Total Assets was $30,074 Mil. Property, Plant and Equipment(Net PPE) was $15,445 Mil. Depreciation, Depletion and Amortization(DDA) was $1,129 Mil. Selling, General, & Admin. Expense(SGA) was $710 Mil. Total Current Liabilities was $5,054 Mil. Long-Term Debt & Capital Lease Obligation was $8,698 Mil. Net Income was 515 + 172 + 879 + 559 = $2,125 Mil. Non Operating Income was 10 + 20 + -40 + 9 = $-1 Mil. Cash Flow from Operations was 847 + 250 + 429 + 431 = $1,957 Mil. |
Total Receivables was $1,391 Mil. Revenue was 7849 + 6638 + 6652 + 6544 = $27,683 Mil. Gross Profit was 1423 + 1212 + 1242 + 1328 = $5,205 Mil. Total Current Assets was $6,035 Mil. Total Assets was $27,029 Mil. Property, Plant and Equipment(Net PPE) was $14,143 Mil. Depreciation, Depletion and Amortization(DDA) was $895 Mil. Selling, General, & Admin. Expense(SGA) was $607 Mil. Total Current Liabilities was $4,153 Mil. Long-Term Debt & Capital Lease Obligation was $7,164 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) |
= | (2623 / 43260) | / | (1391 / 27683) | |
= | 0.060633 | / | 0.050247 | |
= | 1.2067 |
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) | |
= | (5205 / 27683) | / | (7788 / 43260) | |
= | 0.188022 | / | 0.180028 | |
= | 1.0444 |
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 - (7160 + 15445) / 30074) | / | (1 - (6035 + 14143) / 27029) | |
= | 0.248354 | / | 0.253468 | |
= | 0.9798 |
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 | |
= | 43260 | / | 27683 | |
= | 1.5627 |
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)) |
= | (895 / (895 + 14143)) | / | (1129 / (1129 + 15445)) | |
= | 0.059516 | / | 0.068119 | |
= | 0.8737 |
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) |
= | (710 / 43260) | / | (607 / 27683) | |
= | 0.016412 | / | 0.021927 | |
= | 0.7485 |
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) |
= | ((8698 + 5054) / 30074) | / | ((7164 + 4153) / 27029) | |
= | 0.457272 | / | 0.418698 | |
= | 1.0921 |
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 | |
= | (2125 - -1 | - | 1957) | / | 30074 | |
= | 0.005619 |
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.
Andeavor has a M-score of -1.75 signals that the company is likely to be a manipulator.
Thank you for viewing the detailed overview of Andeavor's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Susan Tomasky | director | AMERICAN ELECTRIC POWER, 1 RIVERSIDE PLAZA, COLUMBUS OH 43215 |
William H Schumann | director | 200 E RANDOLPH DRIVE, CHICAGO IL 60601 |
Patrick Y Yang | director | C/O GENENTECH INC, 1 DNA WAY,MS 49,ATTN:K.STRAND OR J.BERRY, SOUTH SAN FRANCISCO CA 94080-4990 |
Cynthia J Warner | officer: EVP, Operations | 1925 WEST FIELD COURT, SUITE 200, LAKE FOREST IL 60045 |
Gregory James Goff | director, officer: President and CEO | 19100 RIDGEWOOD PARKWAY, SAN ANTONIO TX 78259 |
Steven Sterin | officer: EVP and CFO | 19100 RIDGEWOOD PARKWAY, SAN ANTONIO TX 78259 |
Rucker Kim K.w. | officer: EVP, General Counsel and Sec | KRAFT FOODS GROUP, INC., THREE LAKES DRIVE, NORTHFIELD IL 60093 |
Edward G Galante | director | C/O EXXON MOBIL CORP, 5959 LAS COLINAS BLVD, IRVING TX 75039-2298 |
Mary Pat Mccarthy | director | 2704 WEST 112TH STREET, LEAWOOD KS 66211 |
Rodney F Chase | director | C/O COMPUTER SCIENCES CORP, 2100 E. GRAND AVE, EL SEGUNDO CA 90245 |
David Lilley | director | |
Jim W Nokes | director | 600 N DAIRY ASHFORD, HOUSTON TX 77079 |
Michael E Wiley | director | 10930 KEMWOOD DRIVE HOUSTON TX 77024 |
Robert W Goldman | director | 1001 LOUISIANA ST, HOUSTON TX 77002 |
Daryl R Schofield | officer: SVP, Commercial | 19100 RIDGEWOOD PARKWAY, SAN ANTONIO TX 78259 |
From GuruFocus
By GuruFocus Research GuruFocus Editor • 10-26-2009
By PRNewswire PRNewswire • 05-18-2018
By Marketwired Marketwired • 09-18-2018
By Tiziano Frateschi Tiziano Frateschi • 08-03-2017
By GuruFocus Research GuruFocus Editor • 11-06-2009
By GuruFocus Research GuruFocus Editor • 10-02-2009
By GuruFocus Research GuruFocus Editor • 10-16-2009
By PRNewswire PRNewswire • 09-26-2018
By Holly LaFon Holly LaFon • 04-04-2013
By guruek Penny Sleuth • 07-07-2010
Disclaimers: GuruFocus.com is not operated by a broker or a dealer. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. This investment adviser does not provide advice to individual investors. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.