Cheniere Energy Beneish M-Score Historical Data
The historical data trend for Cheniere Energy'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.
|
Cheniere Energy Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
|
|
|
|
|
-2.26 |
-2.29 |
-9.69 |
-3.46 |
-3.25 |
|
Cheniere Energy Quarterly Data
|
|
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-3.46 |
-3.68 |
-3.95 |
-3.65 |
-3.25 |
Competitive Comparison
For the Oil & Gas Midstream subindustry, Cheniere Energy'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.
Cheniere Energy Beneish M-Score Distribution
For the Oil & Gas industry and Energy sector, Cheniere Energy's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Cheniere Energy's Beneish M-Score falls into.
Cheniere Energy 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 Cheniere Energy 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 * 0.9325 | + | 0.528 * 0.1904 | + | 0.404 * 1.049 | + | 0.892 * 0.6101 | + | 0.115 * 0.9627 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.8844 | + | 4.679 * 0.032733 | - | 0.327 * 0.8547 |
| = | -3.25 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $1,106 Mil.
Revenue was 4823 + 4159 + 4102 + 7310 = $20,394 Mil.
Gross Profit was 2633 + 2860 + 2406 + 8108 = $16,007 Mil.
Total Current Assets was $6,331 Mil.
Total Assets was $43,076 Mil.
Property, Plant and Equipment(Net PPE) was $35,097 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,196 Mil.
Selling, General, & Admin. Expense(SGA) was $484 Mil.
Total Current Liabilities was $3,888 Mil.
Long-Term Debt & Capital Lease Obligation was $25,835 Mil.
Net Income was 1377 + 1701 + 1369 + 5434 = $9,881 Mil.
Non Operating Income was -3 + 1 + -2 + 57 = $53 Mil.
Cash Flow from Operations was 1720 + 1698 + 1579 + 3421 = $8,418 Mil.
|
Total Receivables was $1,944 Mil.
Revenue was 9085 + 8852 + 8007 + 7484 = $33,428 Mil.
Gross Profit was 6868 + -2920 + 1560 + -512 = $4,996 Mil.
Total Current Assets was $5,608 Mil.
Total Assets was $41,266 Mil.
Property, Plant and Equipment(Net PPE) was $34,153 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,119 Mil.
Selling, General, & Admin. Expense(SGA) was $421 Mil.
Total Current Liabilities was $6,795 Mil.
Long-Term Debt & Capital Lease Obligation was $26,520 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) |
| = | (1106 / 20394) | / | (1944 / 33428) |
| = | 0.054232 | / | 0.058155 |
| | = | 0.9325 |
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) |
| = | (4996 / 33428) | / | (16007 / 20394) |
| = | 0.149456 | / | 0.784888 |
| | = | 0.1904 |
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 - (6331 + 35097) / 43076) | / | (1 - (5608 + 34153) / 41266) |
| = | 0.038258 | / | 0.036471 |
| | = | 1.049 |
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 |
| = | 20394 | / | 33428 |
| | = | 0.6101 |
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)) |
| = | (1119 / (1119 + 34153)) | / | (1196 / (1196 + 35097)) |
| = | 0.031725 | / | 0.032954 |
| | = | 0.9627 |
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) |
| = | (484 / 20394) | / | (421 / 33428) |
| = | 0.023732 | / | 0.012594 |
| | = | 1.8844 |
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) |
| = | ((25835 + 3888) / 43076) | / | ((26520 + 6795) / 41266) |
| = | 0.690013 | / | 0.807323 |
| | = | 0.8547 |
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 |
| = | (9881 - 53 | - | 8418) | / | 43076 |
| | = | 0.032733 |
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.
Cheniere Energy has a M-score of -3.25 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
LNG has been successfully added to your