Newell Brands Beneish M-Score Historical Data
The historical data trend for Newell Brands'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.
|
Newell Brands Annual Data
|
|
Trend |
Dec12 |
Dec13 |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
| Beneish M-Score |
|
|
|
|
|
|
-2.54 |
-2.11 |
-2.41 |
-2.78 |
-2.57 |
|
Newell Brands Quarterly Data
|
|
Sep17 |
Dec17 |
Mar18 |
Jun18 |
Sep18 |
Dec18 |
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
| Beneish M-Score |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.56 |
-2.60 |
-2.57 |
-2.47 |
-2.41 |
Competitive Comparison
For the Household & Personal Products subindustry, Newell Brands'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.
Newell Brands Beneish M-Score Distribution
For the Consumer Packaged Goods industry and Consumer Defensive sector, Newell Brands's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Newell Brands's Beneish M-Score falls into.
Newell Brands 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 Newell Brands 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 * 0.8986 | + | 0.528 * 1.0632 | + | 0.404 * 0.9722 | + | 0.892 * 1.0124 | + | 0.115 * 1.1402 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9576 | + | 4.679 * 0.0226 | - | 0.327 * 0.9929 |
| = | -2.41 |
* 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 (Jun22) TTM: | Last Year (Jun21) TTM: |
Total Receivables was $1,562 Mil.
Revenue was 2534 + 2388 + 2805 + 2787 = $10,514 Mil.
Gross Profit was 825 + 740 + 835 + 848 = $3,248 Mil.
Total Current Assets was $4,757 Mil.
Total Assets was $14,448 Mil.
Property, Plant and Equipment(Net PPE) was $1,701 Mil.
Depreciation, Depletion and Amortization(DDA) was $306 Mil.
Selling, General, & Admin. Expense(SGA) was $2,190 Mil.
Total Current Liabilities was $4,630 Mil.
Long-Term Debt & Capital Lease Obligation was $4,293 Mil.
Net Income was 204 + 234 + 96 + 190 = $724 Mil.
Non Operating Income was -12 + 119 + -60 + -7 = $40 Mil.
Cash Flow from Operations was -178 + -272 + 394 + 414 = $358 Mil.
|
Total Receivables was $1,717 Mil.
Revenue was 2709 + 2288 + 2689 + 2699 = $10,385 Mil.
Gross Profit was 882 + 731 + 884 + 914 = $3,411 Mil.
Total Current Assets was $4,655 Mil.
Total Assets was $14,620 Mil.
Property, Plant and Equipment(Net PPE) was $1,649 Mil.
Depreciation, Depletion and Amortization(DDA) was $347 Mil.
Selling, General, & Admin. Expense(SGA) was $2,259 Mil.
Total Current Liabilities was $3,776 Mil.
Long-Term Debt & Capital Lease Obligation was $5,318 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) |
| = | (1562 / 10514) | / | (1717 / 10385) |
| = | 0.14856382 | / | 0.16533462 |
| | = | 0.8986 |
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) |
| = | (3411 / 10385) | / | (3248 / 10514) |
| = | 0.3284545 | / | 0.30892144 |
| | = | 1.0632 |
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 - (4757 + 1701) / 14448) | / | (1 - (4655 + 1649) / 14620) |
| = | 0.55301772 | / | 0.56880985 |
| | = | 0.9722 |
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 |
| = | 10514 | / | 10385 |
| | = | 1.0124 |
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)) |
| = | (347 / (347 + 1649)) | / | (306 / (306 + 1701)) |
| = | 0.1738477 | / | 0.15246637 |
| | = | 1.1402 |
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) |
| = | (2190 / 10514) | / | (2259 / 10385) |
| = | 0.2082937 | / | 0.21752528 |
| | = | 0.9576 |
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) |
| = | ((4293 + 4630) / 14448) | / | ((5318 + 3776) / 14620) |
| = | 0.61759413 | / | 0.62202462 |
| | = | 0.9929 |
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 |
| = | (724 - 40 | - | 358) | / | 14448 |
| | = | 0.0226 |
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.
Newell Brands has a M-score of -2.41 suggests that the company is unlikely to be a manipulator.
My Portfolios
Create New Portfolio
Portfolio Contest
My Gurus
Personalize
Premium Gurus 
0.32(1.52%) Volume: 1,785,349 11:08PM EDT
Email Alerts
Stock PDF
RSS
Website
Filings
Download
Manual of Stocks™ Web APP
NAS:NWL has been successfully added to your 
