Advanced Micro Devices Beneish M-Score Historical Data
The historical data trend for Advanced Micro Devices'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.
Advanced Micro Devices Beneish M-Score Chart
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Advanced Micro Devices Annual Data
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| Beneish M-Score |
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-1.10 |
-2.29 |
-1.07 |
-2.25 |
-2.38 |
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Advanced Micro Devices Quarterly Data
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| Beneish M-Score |
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-2.29 |
-2.22 |
-2.16 |
-2.38 |
-2.49 |
Competitive Comparison of Advanced Micro Devices's Beneish M-Score
For the Semiconductors subindustry, Advanced Micro Devices'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.
Advanced Micro Devices's Beneish M-Score Distribution in the Semiconductors Industry
For the Semiconductors industry and Technology sector, Advanced Micro Devices's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Advanced Micro Devices's Beneish M-Score falls into.
Advanced Micro Devices 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 Advanced Micro Devices 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 * 1.0189 | + | 0.528 * 0.9334 | + | 0.404 * 0.9387 | + | 0.892 * 1.2171 | + | 0.115 * 0.9613 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0552 | + | 4.679 * -0.01441 | - | 0.327 * 1.2497 |
| = | -2.49 |
* 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 (Mar25) TTM: | Last Year (Mar24) TTM: |
Total Receivables was $6,286 Mil.
Revenue was 7438 + 7658 + 6819 + 5835 = $27,750 Mil.
Gross Profit was 3736 + 3882 + 3419 + 2864 = $13,901 Mil.
Total Current Assets was $21,595 Mil.
Total Assets was $71,550 Mil.
Property, Plant and Equipment(Net PPE) was $1,921 Mil.
Depreciation, Depletion and Amortization(DDA) was $3,135 Mil.
Selling, General, & Admin. Expense(SGA) was $3,049 Mil.
Total Current Liabilities was $7,703 Mil.
Long-Term Debt & Capital Lease Obligation was $3,784 Mil.
Net Income was 709 + 482 + 771 + 265 = $2,227 Mil.
Non Operating Income was 39 + -331 + 36 + 55 = $-201 Mil.
Cash Flow from Operations was 939 + 1299 + 628 + 593 = $3,459 Mil.
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Total Receivables was $5,069 Mil.
Revenue was 5473 + 6168 + 5800 + 5359 = $22,800 Mil.
Gross Profit was 2560 + 2911 + 2747 + 2443 = $10,661 Mil.
Total Current Assets was $17,084 Mil.
Total Assets was $67,895 Mil.
Property, Plant and Equipment(Net PPE) was $2,256 Mil.
Depreciation, Depletion and Amortization(DDA) was $3,329 Mil.
Selling, General, & Admin. Expense(SGA) was $2,374 Mil.
Total Current Liabilities was $6,474 Mil.
Long-Term Debt & Capital Lease Obligation was $2,248 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) |
| = | (6286 / 27750) | / | (5069 / 22800) |
| = | 0.226523 | / | 0.222325 |
| | = | 1.0189 |
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) |
| = | (10661 / 22800) | / | (13901 / 27750) |
| = | 0.467588 | / | 0.500937 |
| | = | 0.9334 |
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 - (21595 + 1921) / 71550) | / | (1 - (17084 + 2256) / 67895) |
| = | 0.671335 | / | 0.715148 |
| | = | 0.9387 |
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 |
| = | 27750 | / | 22800 |
| | = | 1.2171 |
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)) |
| = | (3329 / (3329 + 2256)) | / | (3135 / (3135 + 1921)) |
| = | 0.596061 | / | 0.620055 |
| | = | 0.9613 |
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) |
| = | (3049 / 27750) | / | (2374 / 22800) |
| = | 0.109874 | / | 0.104123 |
| | = | 1.0552 |
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) |
| = | ((3784 + 7703) / 71550) | / | ((2248 + 6474) / 67895) |
| = | 0.160545 | / | 0.128463 |
| | = | 1.2497 |
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 |
| = | (2227 - -201 | - | 3459) | / | 71550 |
| | = | -0.01441 |
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.
Advanced Micro Devices has a M-score of -2.49 suggests that the company is unlikely to be a manipulator.
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