MYR Group Beneish M-Score Historical Data
The historical data trend for MYR Group'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.
MYR Group Beneish M-Score Chart
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MYR Group Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-3.15 |
-2.69 |
-2.39 |
-2.17 |
-2.62 |
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MYR Group 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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-2.17 |
-2.11 |
-2.42 |
-2.60 |
-2.62 |
Competitive Comparison of MYR Group's Beneish M-Score
For the Engineering & Construction subindustry, MYR Group'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.
MYR Group's Beneish M-Score Distribution in the Construction Industry
For the Construction industry and Industrials sector, MYR Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where MYR Group's Beneish M-Score falls into.
MYR Group 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 MYR Group 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 * 1.0996 | + | 0.528 * 1.1582 | + | 0.404 * 0.9627 | + | 0.892 * 0.9227 | + | 0.115 * 0.9645 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1004 | + | 4.679 * -0.039533 | - | 0.327 * 1.0641 |
| = | -2.62 |
* 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 $969 Mil.
Revenue was 829.795 + 888.043 + 828.89 + 815.562 = $3,362 Mil.
Gross Profit was 85.945 + 77.288 + 40.843 + 86.243 = $290 Mil.
Total Current Assets was $1,015 Mil.
Total Assets was $1,574 Mil.
Property, Plant and Equipment(Net PPE) was $321 Mil.
Depreciation, Depletion and Amortization(DDA) was $65 Mil.
Selling, General, & Admin. Expense(SGA) was $238 Mil.
Total Current Liabilities was $749 Mil.
Long-Term Debt & Capital Lease Obligation was $102 Mil.
Net Income was 15.952 + 10.649 + -15.277 + 18.939 = $30 Mil.
Non Operating Income was 1.051 + 1.862 + 1.236 + 1.226 = $5 Mil.
Cash Flow from Operations was 21.119 + 35.625 + 22.681 + 7.69 = $87 Mil.
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Total Receivables was $955 Mil.
Revenue was 1004.197 + 939.476 + 888.616 + 811.616 = $3,644 Mil.
Gross Profit was 97.495 + 92.383 + 90.127 + 84.392 = $364 Mil.
Total Current Assets was $1,026 Mil.
Total Assets was $1,579 Mil.
Property, Plant and Equipment(Net PPE) was $304 Mil.
Depreciation, Depletion and Amortization(DDA) was $59 Mil.
Selling, General, & Admin. Expense(SGA) was $235 Mil.
Total Current Liabilities was $747 Mil.
Long-Term Debt & Capital Lease Obligation was $55 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) |
| = | (968.73 / 3362.29) | / | (954.81 / 3643.905) |
| = | 0.288116 | / | 0.262029 |
| | = | 1.0996 |
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) |
| = | (364.397 / 3643.905) | / | (290.319 / 3362.29) |
| = | 0.100002 | / | 0.086346 |
| | = | 1.1582 |
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 - (1014.662 + 320.874) / 1574.059) | / | (1 - (1026.244 + 303.99) / 1578.746) |
| = | 0.151534 | / | 0.157411 |
| | = | 0.9627 |
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 |
| = | 3362.29 | / | 3643.905 |
| | = | 0.9227 |
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)) |
| = | (59.138 / (59.138 + 303.99)) | / | (65.189 / (65.189 + 320.874)) |
| = | 0.162857 | / | 0.168856 |
| | = | 0.9645 |
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) |
| = | (238.222 / 3362.29) | / | (234.611 / 3643.905) |
| = | 0.070851 | / | 0.064384 |
| | = | 1.1004 |
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) |
| = | ((102.444 + 748.9) / 1574.059) | / | ((55.277 + 747.202) / 1578.746) |
| = | 0.540859 | / | 0.508302 |
| | = | 1.0641 |
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 |
| = | (30.263 - 5.375 | - | 87.115) | / | 1574.059 |
| | = | -0.039533 |
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.
MYR Group has a M-score of -2.62 suggests that the company is unlikely to be a manipulator.
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