Alpha & Omega Semiconductor (MEX:AOSL) Beneish M-Score : -2.84 (As of Apr. 07, 2025)

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What is Alpha & Omega Semiconductor 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 -2.84 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Alpha & Omega Semiconductor's Beneish M-Score or its related term are showing as below:

MEX:AOSL' s Beneish M-Score Range Over the Past 10 Years
Min: -3.54 Med: -2.74 Max: 0.95
Current: -2.84

During the past 13 years, the highest Beneish M-Score of Alpha & Omega Semiconductor was 0.95. The lowest was -3.54. And the median was -2.74.

Alpha & Omega Semiconductor Beneish M-Score Historical Data

The historical data trend for Alpha & Omega Semiconductor'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.

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Alpha & Omega Semiconductor Beneish M-Score Chart

Alpha & Omega Semiconductor Annual Data

Trend

Jun15

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Jun24

Beneish M-Score

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-3.54

-1.84

0.59

-2.95

-2.88

Alpha & Omega Semiconductor 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															-2.66	-2.67	-2.88	-2.71	-2.84

Competitive Comparison of Alpha & Omega Semiconductor's Beneish M-Score

For the Semiconductors subindustry, Alpha & Omega Semiconductor'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.

Alpha & Omega Semiconductor's Beneish M-Score Distribution in the Semiconductors Industry

For the Semiconductors industry and Technology sector, Alpha & Omega Semiconductor's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Alpha & Omega Semiconductor's Beneish M-Score falls into.

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Alpha & Omega Semiconductor 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 Alpha & Omega Semiconductor for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.989

0.528 * 1.0976

0.404 * 1.007

0.892 * 1.1375

0.115 * 0.9196

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0072

4.679 * -0.065139

0.327 * 0.9155

-2.60

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was MXN637 Mil.
Revenue was 3611.29 + 3581.41 + 2954.959 + 2490.434 = MXN12,638 Mil.
Gross Profit was 834.457 + 876.73 + 759.13 + 590.08 = MXN3,060 Mil.
Total Current Assets was MXN8,557 Mil.
Total Assets was MXN23,649 Mil.
Property, Plant and Equipment(Net PPE) was MXN7,174 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN1,057 Mil.
Selling, General, & Admin. Expense(SGA) was MXN1,665 Mil.
Total Current Liabilities was MXN3,150 Mil.
Long-Term Debt & Capital Lease Obligation was MXN865 Mil.
Net Income was -137.94 + -49.147 + -50.051 + -186.077 = MXN-423 Mil.
Non Operating Income was 13.827 + -12.799 + 1.191 + 5.112 = MXN7 Mil.
Cash Flow from Operations was 294.17 + 217.007 + 130.421 + 468.33 = MXN1,110 Mil.

Total Receivables was MXN566 Mil.
Revenue was 2805.589 + 3146.428 + 2769.168 + 2389.394 = MXN11,111 Mil.
Gross Profit was 746.884 + 887.057 + 764.292 + 554.918 = MXN2,953 Mil.
Total Current Assets was MXN6,902 Mil.
Total Assets was MXN19,968 Mil.
Property, Plant and Equipment(Net PPE) was MXN6,426 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN861 Mil.
Selling, General, & Admin. Expense(SGA) was MXN1,453 Mil.
Total Current Liabilities was MXN2,743 Mil.
Long-Term Debt & Capital Lease Obligation was MXN960 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)
	=	(636.975 / 12638.093)	/	(566.21 / 11110.579)
	=	0.050401	/	0.050961
	=	0.989

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)
	=	(2953.151 / 11110.579)	/	(3060.397 / 12638.093)
	=	0.265796	/	0.242157
	=	1.0976

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 - (8556.969 + 7173.589) / 23649.196)	/	(1 - (6902.052 + 6426.365) / 19967.589)
	=	0.334838	/	0.332497
	=	1.007

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
	=	12638.093	/	11110.579
	=	1.1375

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))
	=	(860.864 / (860.864 + 6426.365))	/	(1057.32 / (1057.32 + 7173.589))
	=	0.118133	/	0.128457
	=	0.9196

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)
	=	(1664.989 / 12638.093)	/	(1453.269 / 11110.579)
	=	0.131744	/	0.1308
	=	1.0072

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)
	=	((864.761 + 3149.878) / 23649.196)	/	((959.724 + 2742.971) / 19967.589)
	=	0.169758	/	0.185435
	=	0.9155

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
	=	(-423.215 - 7.331	-	1109.928)	/	23649.196
	=	-0.065139

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.

Alpha & Omega Semiconductor has a M-score of -2.60 suggests that the company is unlikely to be a manipulator.

Alpha & Omega Semiconductor Beneish M-Score Related Terms

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Alpha & Omega Semiconductor Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Semiconductors » Alpha & Omega Semiconductor Ltd (MEX:AOSL) » Definitions » Beneish M-Score

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AOSL:USA AOY:Germany

Address

2 Church Street, Clarendon House, Hamilton, BMU, HM 11

Website

http://www.aosmd.com

Alpha & Omega Semiconductor Ltd designs, develops and supplies a portfolio of power semiconductors targeting various applications, including personal computers, flat-panel TVs, LED lighting, smartphones, battery packs, consumer and industrial motor controls and power supplies for TVs, computers, servers and telecommunications equipment. It generates revenue mainly from the sale of power semiconductors, consisting of power discretes and power ICs with a presence in Hong Kong, China, South Korea, the United States and other countries.