BP Beneish M-Score Historical Data
The historical data trend for BP'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.
BP Beneish M-Score Chart
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BP Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.95 |
-2.47 |
-2.91 |
-2.97 |
-2.79 |
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BP Quarterly Data
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Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
Mar25 |
| Beneish M-Score |
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-2.83 |
-2.84 |
-2.92 |
-2.79 |
-2.77 |
Competitive Comparison of BP's Beneish M-Score
For the Oil & Gas Integrated subindustry, BP'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.
BP's Beneish M-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, BP's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where BP's Beneish M-Score falls into.
BP 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 BP 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 * 1.0961 | + | 0.528 * 1.3458 | + | 0.404 * 1.0965 | + | 0.892 * 1.0736 | + | 0.115 * 1.0295 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0444 | + | 4.679 * -0.09024 | - | 0.327 * 1.0302 |
| = | -2.54 |
* 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 (Mar25) TTM: | Last Year (Mar24) TTM: |
Total Receivables was MXN588,419 Mil.
Revenue was 959591.872 + 954189.986 + 930445.437 + 866522.553 = MXN3,710,750 Mil.
Gross Profit was 172687.666 + 120712.792 + 148169.508 + 130695.615 = MXN572,266 Mil.
Total Current Assets was MXN2,067,853 Mil.
Total Assets was MXN5,756,856 Mil.
Property, Plant and Equipment(Net PPE) was MXN2,055,415 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN335,413 Mil.
Selling, General, & Admin. Expense(SGA) was MXN329,431 Mil.
Total Current Liabilities was MXN1,694,184 Mil.
Long-Term Debt & Capital Lease Obligation was MXN1,300,323 Mil.
Net Income was 14054.783 + -40856.316 + 4056.202 + -2363.293 = MXN-25,109 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = MXN0 Mil.
Cash Flow from Operations was 57978.539 + 154895.284 + 133126.118 + 148392.834 = MXN494,393 Mil.
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Total Receivables was MXN499,995 Mil.
Revenue was 811224.945 + 885054.264 + 927887.224 + 832130.619 = MXN3,456,297 Mil.
Gross Profit was 162510.529 + 183712.286 + 220122.601 + 151003.471 = MXN717,349 Mil.
Total Current Assets was MXN1,683,010 Mil.
Total Assets was MXN4,571,189 Mil.
Property, Plant and Equipment(Net PPE) was MXN1,705,166 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN287,846 Mil.
Selling, General, & Admin. Expense(SGA) was MXN293,792 Mil.
Total Current Liabilities was MXN1,365,673 Mil.
Long-Term Debt & Capital Lease Obligation was MXN942,286 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) |
| = | (588418.749 / 3710749.848) | / | (499995.375 / 3456297.052) |
| = | 0.158571 | / | 0.144662 |
| | = | 1.0961 |
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) |
| = | (717348.887 / 3456297.052) | / | (572265.581 / 3710749.848) |
| = | 0.207548 | / | 0.154218 |
| | = | 1.3458 |
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 - (2067853.483 + 2055414.897) / 5756855.651) | / | (1 - (1683009.624 + 1705165.625) / 4571189.498) |
| = | 0.283764 | / | 0.258798 |
| | = | 1.0965 |
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 |
| = | 3710749.848 | / | 3456297.052 |
| | = | 1.0736 |
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)) |
| = | (287845.621 / (287845.621 + 1705165.625)) | / | (335412.873 / (335412.873 + 2055414.897)) |
| = | 0.144427 | / | 0.140292 |
| | = | 1.0295 |
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) |
| = | (329430.527 / 3710749.848) | / | (293791.661 / 3456297.052) |
| = | 0.088777 | / | 0.085002 |
| | = | 1.0444 |
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) |
| = | ((1300323.193 + 1694184.46) / 5756855.651) | / | ((942285.571 + 1365672.632) / 4571189.498) |
| = | 0.520164 | / | 0.504892 |
| | = | 1.0302 |
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 |
| = | (-25108.624 - 0 | - | 494392.775) | / | 5756855.651 |
| | = | -0.09024 |
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.
BP has a M-score of -2.54 suggests that the company is unlikely to be a manipulator.
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