>
Switch to:

Sypris Solutions Beneish M-Score

: -1.99 (As of Today)
View and export this data going back to 1994. Start your Free Trial

The zones of discrimination for M-Score is as such:

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.

Good Sign:

Beneish M-Score -1.99 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Sypris Solutions's Beneish M-Score or its related term are showing as below:

NAS:SYPR' s Beneish M-Score Range Over the Past 10 Years
Min: -24.11   Med: -2.63   Max: 21.36
Current: -1.99

-24.11
21.36

During the past 13 years, the highest Beneish M-Score of Sypris Solutions was 21.36. The lowest was -24.11. And the median was -2.63.


Sypris Solutions Beneish M-Score Historical Data

The historical data trend for Sypris Solutions'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.

* Premium members only.

Sypris Solutions Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Beneish M-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -3.82 -2.77 -3.13 -2.77 -1.81

Sypris Solutions Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
Beneish M-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -3.31 -1.48 -1.81 -1.69 -1.99

Competitive Comparison

For the Auto Parts subindustry, Sypris Solutions'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.

   

Sypris Solutions Beneish M-Score Distribution

For the Vehicles & Parts industry and Consumer Cyclical sector, Sypris Solutions's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Sypris Solutions's Beneish M-Score falls into.



Sypris Solutions 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 Sypris Solutions 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 * 1.5461+0.528 * 0.9561+0.404 * 2.304+0.892 * 1.063+0.115 * 1.032
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8359+4.679 * -0.1396-0.327 * 0.8466
=-1.99

* 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 (Jun21) TTM:Last Year (Jun20) TTM:
Accounts Receivable was $10.48 Mil.
Revenue was 25.969 + 19.982 + 20.614 + 22.154 = $88.72 Mil.
Gross Profit was 4.309 + 1.816 + 2.55 + 3.421 = $12.10 Mil.
Total Current Assets was $57.14 Mil.
Total Assets was $78.67 Mil.
Property, Plant and Equipment(Net PPE) was $16.98 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.52 Mil.
Selling, General, & Admin. Expense(SGA) was $11.60 Mil.
Total Current Liabilities was $35.12 Mil.
Long-Term Debt & Capital Lease Obligation was $11.23 Mil.
Net Income was 3.823 + -1.63 + -1.174 + 3.495 = $4.51 Mil.
Non Operating Income was 3.454 + -0.221 + -0.658 + -0.372 = $2.20 Mil.
Cash Flow from Operations was 9.516 + -0.91 + 3.57 + 1.119 = $13.30 Mil.
Accounts Receivable was $6.38 Mil.
Revenue was 17.153 + 22.425 + 21.624 + 22.259 = $83.46 Mil.
Gross Profit was 2.121 + 3.725 + 2.708 + 2.326 = $10.88 Mil.
Total Current Assets was $38.21 Mil.
Total Assets was $56.02 Mil.
Property, Plant and Equipment(Net PPE) was $16.41 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.52 Mil.
Selling, General, & Admin. Expense(SGA) was $13.05 Mil.
Total Current Liabilities was $24.48 Mil.
Long-Term Debt & Capital Lease Obligation was $14.51 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Accounts Receivable 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)
=(10.479 / 88.719) / (6.376 / 83.461)
=0.1181145 / 0.07639496
=1.5461

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)
=(10.88 / 83.461) / (12.096 / 88.719)
=0.13036029 / 0.13634058
=0.9561

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 - (57.136 + 16.978) / 78.666) / (1 - (38.21 + 16.406) / 56.023)
=0.0578649 / 0.02511469
=2.304

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
=88.719 / 83.461
=1.063

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))
=(2.523 / (2.523 + 16.406)) / (2.518 / (2.518 + 16.978))
=0.13328755 / 0.1291547
=1.032

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)
=(11.596 / 88.719) / (13.051 / 83.461)
=0.13070481 / 0.15637244
=0.8359

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)
=((11.228 + 35.124) / 78.666) / ((14.509 + 24.481) / 56.023)
=0.58922533 / 0.69596416
=0.8466

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
=(4.514 - 2.203 - 13.295) / 78.666
=-0.1396

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.

Sypris Solutions has a M-score of -1.99 suggests that the company is unlikely to be a manipulator.


Sypris Solutions Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Sypris Solutions's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Sypris Solutions Business Description

Sypris Solutions logo
Industry
Consumer Cyclical » Vehicles & Parts NAICS : 336390 SIC : 3714
Traded in Other Exchanges
Address
101 Bullitt Lane, Suite 450, Louisville, KY, USA, 40222
Sypris Solutions Inc is a US based company engaged in providing outsourced services and specialty products. It offers a range of manufacturing, engineering, design and other technical services. Business activity of the firm is functioned through Sypris Technologies and Sypris Electronics segments. Sypris Technologies segment is engaged in the sale of goods and manufacturing services to customers in the market for truck components and assemblies and from the sale of products to the energy and chemical markets whereas the Sypris Electronics segment is engaged in the sale of manufacturing services, technical services, and products to customers in the market for aerospace and defense electronics. Sypris derives most of the revenue from Technologies segment.
Executives
Davis Richard L officer: Vice President 101 BULLITT LN., STE. 450 LOUISVILLE KY 40222
Allen Anthony C officer: Vice President and CFO 101 BULLITT LN., STE. 450 LOUISVILLE KY 40222
Eckert Rebecca R officer: Principal Accounting Officer, other: Controller 101 BULLITT LANE SUITE 450 LOUISVILLE KY 40222
Convis Gary L director 101 BULLITT LANE SUITE 450 LOUISVILLE KY 40222
Gill Jeffrey T director, 10 percent owner, officer: President and CEO 101 BULLITT LANE SUITE 450 LOUISVILLE KY 40222
Healey William L director 101 BULLITT LANE STE 450 LOUISVILLE KY 40222
Gill R Scott director, 10 percent owner 101 BULLITT LANE SUITE 450 LOUISVILLE KY 40222
Ferko William G director 7419 CEDAR BLUFF CT PROSPECT KY 40059
Petersen Sidney R/ca director 150 N. ORANGE GROVE BLVD PASADENA CA 91103
Sroka Robert director 101 BULLITT LN., STE. 450 LOUISVILLE KY 40222
Brinkley John F director 46 GULL POINT ROAD HILTON HEAD ISLAND SC 29928
Mcgeeney John R officer: VP, General Counsel &Secretary 101 BULLITT LN SUITE 450 LOUISVILLE KY 40222
Straub Stephen W officer: Vice President Operations 101 BULLITT LANE SUITE 450 LOUISVILLE KY 40222
Larochelle Paul G officer: VP Sales&Strategic Initiatives 101 BULLITT LANE, SUITE 450 LOUISVILLE KY 40222
Walsh John James other: VP and President of Subsidiary 101 BULLITT LANE SUITE 450 LOUISVILLE KY 40222

Sypris Solutions Headlines

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)