Eaton Beneish M-Score Historical Data
The historical data trend for Eaton'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.
Eaton Beneish M-Score Chart
|
Eaton Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.78 |
-2.83 |
-2.43 |
-2.32 |
-2.53 |
|
Eaton Quarterly Data
|
|
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.46 |
-2.53 |
-2.52 |
-2.50 |
-2.48 |
Competitive Comparison of Eaton's Beneish M-Score
For the Specialty Industrial Machinery subindustry, Eaton'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.
Eaton's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Eaton's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Eaton's Beneish M-Score falls into.
Eaton 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 Eaton 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 * 1.1418 | + | 0.528 * 0.9373 | + | 0.404 * 0.9584 | + | 0.892 * 1.0846 | + | 0.115 * 1.2647 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0201 | + | 4.679 * -0.009546 | - | 0.327 * 1.015 |
| = | -2.35 |
* 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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was MXN96,207 Mil.
Revenue was 124934.954 + 116332.654 + 98631.544 + 101285.338 = MXN441,184 Mil.
Gross Profit was 48162.474 + 44151.448 + 36810.494 + 37937.444 = MXN167,062 Mil.
Total Current Assets was MXN239,277 Mil.
Total Assets was MXN772,569 Mil.
Property, Plant and Equipment(Net PPE) was MXN89,158 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN16,441 Mil.
Selling, General, & Admin. Expense(SGA) was MXN72,185 Mil.
Total Current Liabilities was MXN156,361 Mil.
Long-Term Debt & Capital Lease Obligation was MXN184,282 Mil.
Net Income was 19867.513 + 18191.862 + 13625.525 + 16040.664 = MXN67,726 Mil.
Non Operating Income was 433.187 + 586.243 + 431.503 + 628.047 = MXN2,079 Mil.
Cash Flow from Operations was 25774.603 + 17330.817 + 7883.221 + 22032.574 = MXN73,021 Mil.
|
Total Receivables was MXN77,688 Mil.
Revenue was 102423.114 + 100566.117 + 98831.075 + 104966.464 = MXN406,787 Mil.
Gross Profit was 38251.898 + 36327.924 + 33959.1 + 35833.648 = MXN144,373 Mil.
Total Current Assets was MXN191,312 Mil.
Total Assets was MXN649,533 Mil.
Property, Plant and Equipment(Net PPE) was MXN68,630 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN16,828 Mil.
Selling, General, & Admin. Expense(SGA) was MXN65,248 Mil.
Total Current Liabilities was MXN131,739 Mil.
Long-Term Debt & Capital Lease Obligation was MXN150,430 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) |
| = | (96206.806 / 441184.49) | / | (77688.281 / 406786.77) |
| = | 0.218065 | / | 0.19098 |
| | = | 1.1418 |
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) |
| = | (144372.57 / 406786.77) | / | (167061.86 / 441184.49) |
| = | 0.35491 | / | 0.378667 |
| | = | 0.9373 |
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 - (239276.526 + 89157.678) / 772568.611) | / | (1 - (191311.746 + 68630.454) / 649533.25) |
| = | 0.57488 | / | 0.599802 |
| | = | 0.9584 |
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 |
| = | 441184.49 | / | 406786.77 |
| | = | 1.0846 |
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)) |
| = | (16827.734 / (16827.734 + 68630.454)) | / | (16441.092 / (16441.092 + 89157.678)) |
| = | 0.196912 | / | 0.155694 |
| | = | 1.2647 |
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) |
| = | (72184.995 / 441184.49) | / | (65247.834 / 406786.77) |
| = | 0.163616 | / | 0.160398 |
| | = | 1.0201 |
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) |
| = | ((184281.518 + 156360.672) / 772568.611) | / | ((150429.595 + 131739.118) / 649533.25) |
| = | 0.440922 | / | 0.434418 |
| | = | 1.015 |
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 |
| = | (67725.564 - 2078.98 | - | 73021.215) | / | 772568.611 |
| | = | -0.009546 |
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.
Eaton has a M-score of -2.35 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
MEX:ETN1 has been successfully added to your