Garrett Motion Beneish M-Score Historical Data
The historical data trend for Garrett Motion'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.
Garrett Motion Beneish M-Score Chart
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Garrett Motion Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.07 |
-1.30 |
-2.34 |
-3.02 |
-2.96 |
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Garrett Motion Quarterly Data
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Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-3.02 |
-3.09 |
-3.09 |
-3.22 |
-2.96 |
Competitive Comparison of Garrett Motion's Beneish M-Score
For the Auto Parts subindustry, Garrett Motion'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.
Garrett Motion's Beneish M-Score Distribution in the Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Garrett Motion's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Garrett Motion's Beneish M-Score falls into.
Garrett Motion 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 Garrett Motion 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 * 1.0909 | + | 0.528 * 0.9552 | + | 0.404 * 1.0698 | + | 0.892 * 0.9671 | + | 0.115 * 1.0804 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.089 | + | 4.679 * -0.064188 | - | 0.327 * 1.0135 |
| = | -2.73 |
* 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 MXN15,079 Mil.
Revenue was 17602.211 + 16264.188 + 16304.892 + 15185.573 = MXN65,357 Mil.
Gross Profit was 3795.737 + 3268.59 + 3389.219 + 2854.556 = MXN13,308 Mil.
Total Current Assets was MXN24,881 Mil.
Total Assets was MXN47,468 Mil.
Property, Plant and Equipment(Net PPE) was MXN10,449 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN1,701 Mil.
Selling, General, & Admin. Expense(SGA) was MXN4,516 Mil.
Total Current Liabilities was MXN26,654 Mil.
Long-Term Debt & Capital Lease Obligation was MXN31,409 Mil.
Net Income was 2085.57 + 1023.896 + 1172.487 + 1095.353 = MXN5,377 Mil.
Non Operating Income was 145.99 + 0 + 458.003 + 66.385 = MXN670 Mil.
Cash Flow from Operations was 2732.097 + 1319.25 + 2308.333 + 1394.085 = MXN7,754 Mil.
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Total Receivables was MXN14,292 Mil.
Revenue was 16040.664 + 16722.141 + 17332.483 + 17484.25 = MXN67,580 Mil.
Gross Profit was 3208.133 + 3065.726 + 3463.068 + 3406.725 = MXN13,144 Mil.
Total Current Assets was MXN23,866 Mil.
Total Assets was MXN42,894 Mil.
Property, Plant and Equipment(Net PPE) was MXN8,776 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN1,564 Mil.
Selling, General, & Admin. Expense(SGA) was MXN4,288 Mil.
Total Current Liabilities was MXN23,323 Mil.
Long-Term Debt & Capital Lease Obligation was MXN28,449 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) |
| = | (15078.671 / 65356.864) | / | (14292.317 / 67579.538) |
| = | 0.230713 | / | 0.211489 |
| | = | 1.0909 |
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) |
| = | (13143.652 / 67579.538) | / | (13308.102 / 65356.864) |
| = | 0.194492 | / | 0.203622 |
| | = | 0.9552 |
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 - (24880.85 + 10448.706) / 47467.573) | / | (1 - (23865.793 + 8775.686) / 42893.925) |
| = | 0.255712 | / | 0.239019 |
| | = | 1.0698 |
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 |
| = | 65356.864 | / | 67579.538 |
| | = | 0.9671 |
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)) |
| = | (1563.708 / (1563.708 + 8775.686)) | / | (1700.718 / (1700.718 + 10448.706)) |
| = | 0.151238 | / | 0.139983 |
| | = | 1.0804 |
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) |
| = | (4516.325 / 65356.864) | / | (4288.404 / 67579.538) |
| = | 0.069103 | / | 0.063457 |
| | = | 1.089 |
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) |
| = | ((31408.684 + 26653.585) / 47467.573) | / | ((28448.84 + 23322.617) / 42893.925) |
| = | 1.223199 | / | 1.206965 |
| | = | 1.0135 |
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 |
| = | (5377.306 - 670.378 | - | 7753.765) | / | 47467.573 |
| | = | -0.064188 |
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.
Garrett Motion has a M-score of -2.73 suggests that the company is unlikely to be a manipulator.
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