McGrath RentCorp Beneish M-Score Historical Data
The historical data trend for McGrath RentCorp'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.
McGrath RentCorp Beneish M-Score Chart
|
McGrath RentCorp Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.68 |
-2.76 |
-2.03 |
-2.70 |
-1.75 |
|
McGrath RentCorp 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.12 |
-1.75 |
-2.32 |
-2.51 |
-2.95 |
Competitive Comparison of McGrath RentCorp's Beneish M-Score
For the Rental & Leasing Services subindustry, McGrath RentCorp'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.
McGrath RentCorp's Beneish M-Score Distribution in the Business Services Industry
For the Business Services industry and Industrials sector, McGrath RentCorp's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where McGrath RentCorp's Beneish M-Score falls into.
McGrath RentCorp 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 McGrath RentCorp 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 * 0.8934 | + | 0.528 * 0.9674 | + | 0.404 * 0.8861 | + | 0.892 * 1.1206 | + | 0.115 * 1.1109 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0426 | + | 4.679 * -0.100628 | - | 0.327 * 0.8615 |
| = | -2.95 |
* 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 $224.5 Mil.
Revenue was 266.758 + 212.611 + 187.827 + 221.588 = $888.8 Mil.
Gross Profit was 123.979 + 103.415 + 93.268 + 110.122 = $430.8 Mil.
Total Current Assets was $250.9 Mil.
Total Assets was $2,285.6 Mil.
Property, Plant and Equipment(Net PPE) was $1,587.3 Mil.
Depreciation, Depletion and Amortization(DDA) was $108.4 Mil.
Selling, General, & Admin. Expense(SGA) was $225.0 Mil.
Total Current Liabilities was $309.5 Mil.
Long-Term Debt & Capital Lease Obligation was $608.6 Mil.
Net Income was 149.317 + 20.618 + 22.848 + 32.016 = $224.8 Mil.
Non Operating Income was 140.78 + -0.031 + -0.132 + 0.144 = $140.8 Mil.
Cash Flow from Operations was 198.967 + 79.209 + 59.42 + -23.56 = $314.0 Mil.
|
Total Receivables was $224.3 Mil.
Revenue was 243.506 + 203.03 + 163.718 + 182.901 = $793.2 Mil.
Gross Profit was 111.534 + 94.61 + 77.367 + 88.375 = $371.9 Mil.
Total Current Assets was $226.2 Mil.
Total Assets was $2,136.7 Mil.
Property, Plant and Equipment(Net PPE) was $1,438.4 Mil.
Depreciation, Depletion and Amortization(DDA) was $109.9 Mil.
Selling, General, & Admin. Expense(SGA) was $192.6 Mil.
Total Current Liabilities was $328.5 Mil.
Long-Term Debt & Capital Lease Obligation was $667.6 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) |
| = | (224.529 / 888.784) | / | (224.269 / 793.155) |
| = | 0.252625 | / | 0.282756 |
| | = | 0.8934 |
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) |
| = | (371.886 / 793.155) | / | (430.784 / 888.784) |
| = | 0.468869 | / | 0.484689 |
| | = | 0.9674 |
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 - (250.87 + 1587.275) / 2285.636) | / | (1 - (226.215 + 1438.352) / 2136.671) |
| = | 0.195784 | / | 0.220953 |
| | = | 0.8861 |
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 |
| = | 888.784 | / | 793.155 |
| | = | 1.1206 |
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)) |
| = | (109.914 / (109.914 + 1438.352)) | / | (108.357 / (108.357 + 1587.275)) |
| = | 0.070992 | / | 0.063904 |
| | = | 1.1109 |
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) |
| = | (224.992 / 888.784) | / | (192.578 / 793.155) |
| = | 0.253146 | / | 0.2428 |
| | = | 1.0426 |
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) |
| = | ((608.562 + 309.532) / 2285.636) | / | ((667.64 + 328.544) / 2136.671) |
| = | 0.40168 | / | 0.466232 |
| | = | 0.8615 |
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 |
| = | (224.799 - 140.761 | - | 314.036) | / | 2285.636 |
| | = | -0.100628 |
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.
McGrath RentCorp has a M-score of -2.95 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
MGRC has been successfully added to your