Solventum Beneish M-Score Historical Data
The historical data trend for Solventum'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.
Solventum Beneish M-Score Chart
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Solventum Annual Data
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Trend |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
- |
- |
-4.29 |
-2.79 |
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Solventum Quarterly Data
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Dec20 |
Dec21 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-4.29 |
- |
-2.73 |
-2.64 |
-2.79 |
Competitive Comparison of Solventum's Beneish M-Score
For the Medical Instruments & Supplies subindustry, Solventum'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.
Solventum's Beneish M-Score Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Solventum's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Solventum's Beneish M-Score falls into.
Solventum 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 Solventum 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 * 1.0517 | + | 0.528 * 1.0308 | + | 0.404 * 0.9276 | + | 0.892 * 1.0935 | + | 0.115 * 1.1956 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.2398 | + | 4.679 * -0.039566 | - | 0.327 * 1.0108 |
| = | -2.57 |
* 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 MXN25,632 Mil.
Revenue was 43275.577 + 40995.205 + 38124.134 + 33458.05 = MXN155,853 Mil.
Gross Profit was 23337.528 + 22939.2 + 20829.957 + 19450.811 = MXN86,557 Mil.
Total Current Assets was MXN67,760 Mil.
Total Assets was MXN301,511 Mil.
Property, Plant and Equipment(Net PPE) was MXN33,828 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN10,491 Mil.
Selling, General, & Admin. Expense(SGA) was MXN52,888 Mil.
Total Current Liabilities was MXN56,373 Mil.
Long-Term Debt & Capital Lease Obligation was MXN162,883 Mil.
Net Income was 646.527 + 2402.217 + 1630.489 + 3933.312 = MXN8,613 Mil.
Non Operating Income was -333.691 + -19.69 + -622.884 + -215.751 = MXN-1,192 Mil.
Cash Flow from Operations was 4567.398 + 3327.661 + 6503.637 + 7335.545 = MXN21,734 Mil.
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Total Receivables was MXN22,287 Mil.
Revenue was 34559.569 + 36126.792 + 35590.736 + 36248.275 = MXN142,525 Mil.
Gross Profit was 19656.179 + 21059.446 + 20384.097 + 20494.425 = MXN81,594 Mil.
Total Current Assets was MXN42,758 Mil.
Total Assets was MXN236,672 Mil.
Property, Plant and Equipment(Net PPE) was MXN24,731 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN9,762 Mil.
Selling, General, & Admin. Expense(SGA) was MXN39,011 Mil.
Total Current Liabilities was MXN29,332 Mil.
Long-Term Debt & Capital Lease Obligation was MXN140,937 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) |
| = | (25631.655 / 155852.966) | / | (22287.188 / 142525.372) |
| = | 0.16446 | / | 0.156373 |
| | = | 1.0517 |
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) |
| = | (81594.147 / 142525.372) | / | (86557.496 / 155852.966) |
| = | 0.572489 | / | 0.555379 |
| | = | 1.0308 |
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 - (67760.169 + 33827.945) / 301510.855) | / | (1 - (42758.131 + 24731.479) / 236671.94) |
| = | 0.66307 | / | 0.714839 |
| | = | 0.9276 |
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 |
| = | 155852.966 | / | 142525.372 |
| | = | 1.0935 |
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)) |
| = | (9761.505 / (9761.505 + 24731.479)) | / | (10490.618 / (10490.618 + 33827.945)) |
| = | 0.283 | / | 0.236709 |
| | = | 1.1956 |
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) |
| = | (52887.529 / 155852.966) | / | (39011.191 / 142525.372) |
| = | 0.339342 | / | 0.273714 |
| | = | 1.2398 |
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) |
| = | ((162883.017 + 56372.957) / 301510.855) | / | ((140937.181 + 29331.501) / 236671.94) |
| = | 0.727191 | / | 0.719429 |
| | = | 1.0108 |
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 |
| = | (8612.545 - -1192.016 | - | 21734.241) | / | 301510.855 |
| | = | -0.039566 |
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.
Solventum has a M-score of -2.57 suggests that the company is unlikely to be a manipulator.
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