The Timken Co Beneish M-Score Historical Data
The historical data trend for The Timken Co'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.
The Timken Co Beneish M-Score Chart
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The Timken Co Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.65 |
-2.44 |
-2.48 |
-2.53 |
-2.55 |
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The Timken Co 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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-2.53 |
-2.51 |
-2.56 |
-2.40 |
-2.55 |
Competitive Comparison of The Timken Co's Beneish M-Score
For the Tools & Accessories subindustry, The Timken Co'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.
The Timken Co's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, The Timken Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where The Timken Co's Beneish M-Score falls into.
The Timken Co 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 The Timken Co 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 * 1.1702 | + | 0.528 * 1.0083 | + | 0.404 * 1.0127 | + | 0.892 * 1.036 | + | 0.115 * 1.0264 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0627 | + | 4.679 * -0.019187 | - | 0.327 * 0.9024 |
| = | -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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was MXN16,797 Mil.
Revenue was 22390.68 + 22187.03 + 21659.858 + 19754.522 = MXN85,992 Mil.
Gross Profit was 6780.188 + 6781.339 + 6844.39 + 6598.671 = MXN27,005 Mil.
Total Current Assets was MXN52,492 Mil.
Total Assets was MXN133,706 Mil.
Property, Plant and Equipment(Net PPE) was MXN29,980 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN4,187 Mil.
Selling, General, & Admin. Expense(SGA) was MXN14,183 Mil.
Total Current Liabilities was MXN17,112 Mil.
Long-Term Debt & Capital Lease Obligation was MXN44,500 Mil.
Net Income was 1484.926 + 1610.667 + 1762.394 + 1717.712 = MXN6,576 Mil.
Non Operating Income was -64.653 + 80.73 + -56.792 + -69.704 = MXN-110 Mil.
Cash Flow from Operations was 3724.828 + 2425.845 + 2282.685 + 818.195 = MXN9,252 Mil.
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Total Receivables was MXN13,854 Mil.
Revenue was 18522.299 + 19904.574 + 21812.184 + 22761.97 = MXN83,001 Mil.
Gross Profit was 5623.568 + 6194.16 + 6950.137 + 7512.82 = MXN26,281 Mil.
Total Current Assets was MXN44,725 Mil.
Total Assets was MXN111,040 Mil.
Property, Plant and Equipment(Net PPE) was MXN24,300 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN3,497 Mil.
Selling, General, & Admin. Expense(SGA) was MXN12,882 Mil.
Total Current Liabilities was MXN24,974 Mil.
Long-Term Debt & Capital Lease Obligation was MXN31,725 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) |
| = | (16797.181 / 85992.09) | / | (13854.381 / 83001.027) |
| = | 0.195334 | / | 0.166918 |
| | = | 1.1702 |
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) |
| = | (26280.685 / 83001.027) | / | (27004.588 / 85992.09) |
| = | 0.316631 | / | 0.314036 |
| | = | 1.0083 |
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 - (52491.711 + 29980.069) / 133705.893) | / | (1 - (44725.446 + 24300.333) / 111040.438) |
| = | 0.383185 | / | 0.378373 |
| | = | 1.0127 |
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 |
| = | 85992.09 | / | 83001.027 |
| | = | 1.036 |
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)) |
| = | (3496.727 / (3496.727 + 24300.333)) | / | (4187.439 / (4187.439 + 29980.069)) |
| = | 0.125795 | / | 0.122556 |
| | = | 1.0264 |
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) |
| = | (14183.331 / 85992.09) | / | (12882.031 / 83001.027) |
| = | 0.164938 | / | 0.155203 |
| | = | 1.0627 |
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) |
| = | ((44499.807 + 17112.102) / 133705.893) | / | ((31724.869 + 24974.211) / 111040.438) |
| = | 0.460802 | / | 0.510617 |
| | = | 0.9024 |
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 |
| = | (6575.699 - -110.419 | - | 9251.553) | / | 133705.893 |
| | = | -0.019187 |
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.
The Timken Co has a M-score of -2.35 suggests that the company is unlikely to be a manipulator.
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