Interface Beneish M-Score Historical Data
The historical data trend for Interface'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.
Interface Beneish M-Score Chart
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Interface Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.92 |
-2.37 |
-2.37 |
-2.92 |
-2.69 |
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Interface Quarterly Data
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Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
Mar25 |
| Beneish M-Score |
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-2.74 |
-2.66 |
-2.49 |
-2.69 |
-2.60 |
Competitive Comparison of Interface's Beneish M-Score
For the Furnishings, Fixtures & Appliances subindustry, Interface'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.
Interface's Beneish M-Score Distribution in the Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Interface's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Interface's Beneish M-Score falls into.
Interface 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 Interface 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 * 1.0491 | + | 0.528 * 0.9932 | + | 0.404 * 0.9535 | + | 0.892 * 1.0541 | + | 0.115 * 1.0237 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9811 | + | 4.679 * -0.051565 | - | 0.327 * 0.8757 |
| = | -2.60 |
* 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 $163 Mil.
Revenue was 297.413 + 335.01 + 344.27 + 346.635 = $1,323 Mil.
Gross Profit was 110.963 + 122.305 + 127.625 + 122.613 = $484 Mil.
Total Current Assets was $579 Mil.
Total Assets was $1,192 Mil.
Property, Plant and Equipment(Net PPE) was $362 Mil.
Depreciation, Depletion and Amortization(DDA) was $44 Mil.
Selling, General, & Admin. Expense(SGA) was $350 Mil.
Total Current Liabilities was $210 Mil.
Long-Term Debt & Capital Lease Obligation was $372 Mil.
Net Income was 13.002 + 21.766 + 28.443 + 22.558 = $86 Mil.
Non Operating Income was -1.703 + 2.59 + -0.381 + -0.832 = $-0 Mil.
Cash Flow from Operations was 11.739 + 38.043 + 76.229 + 21.539 = $148 Mil.
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Total Receivables was $147 Mil.
Revenue was 289.743 + 325.118 + 311.006 + 329.582 = $1,255 Mil.
Gross Profit was 110.405 + 123.152 + 110.258 + 111.786 = $456 Mil.
Total Current Assets was $566 Mil.
Total Assets was $1,193 Mil.
Property, Plant and Equipment(Net PPE) was $364 Mil.
Depreciation, Depletion and Amortization(DDA) was $46 Mil.
Selling, General, & Admin. Expense(SGA) was $339 Mil.
Total Current Liabilities was $208 Mil.
Long-Term Debt & Capital Lease Obligation was $458 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) |
| = | (162.754 / 1323.328) | / | (147.185 / 1255.449) |
| = | 0.122988 | / | 0.117237 |
| | = | 1.0491 |
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) |
| = | (455.601 / 1255.449) | / | (483.506 / 1323.328) |
| = | 0.362899 | / | 0.365371 |
| | = | 0.9932 |
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 - (579.437 + 361.628) / 1191.798) | / | (1 - (566.061 + 364.099) / 1193.492) |
| = | 0.210382 | / | 0.22064 |
| | = | 0.9535 |
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 |
| = | 1323.328 | / | 1255.449 |
| | = | 1.0541 |
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)) |
| = | (45.911 / (45.911 + 364.099)) | / | (44.415 / (44.415 + 361.628)) |
| = | 0.111975 | / | 0.109385 |
| | = | 1.0237 |
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) |
| = | (350.319 / 1323.328) | / | (338.754 / 1255.449) |
| = | 0.264726 | / | 0.269827 |
| | = | 0.9811 |
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) |
| = | ((371.55 + 210.172) / 1191.798) | / | ((457.547 + 207.726) / 1193.492) |
| = | 0.488105 | / | 0.557417 |
| | = | 0.8757 |
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 |
| = | (85.769 - -0.326 | - | 147.55) | / | 1191.798 |
| | = | -0.051565 |
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.
Interface has a M-score of -2.60 suggests that the company is unlikely to be a manipulator.
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