NCR Atleos Beneish M-Score Historical Data
The historical data trend for NCR Atleos'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.
NCR Atleos Beneish M-Score Chart
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NCR Atleos Annual Data
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Trend |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
- |
- |
-2.89 |
-2.80 |
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NCR Atleos Quarterly Data
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Dec20 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-2.89 |
-2.56 |
-2.91 |
-2.79 |
-2.80 |
Competitive Comparison of NCR Atleos's Beneish M-Score
For the Software - Application subindustry, NCR Atleos'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.
NCR Atleos's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, NCR Atleos's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where NCR Atleos's Beneish M-Score falls into.
NCR Atleos 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 NCR Atleos 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 * 0.8029 | + | 0.528 * 0.9303 | + | 0.404 * 1.0099 | + | 0.892 * 1.0301 | + | 0.115 * 0.9249 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.7325 | + | 4.679 * -0.036023 | - | 0.327 * 0.9996 |
| = | -2.80 |
* 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 $588 Mil.
Revenue was 1108 + 1078 + 1081 + 1050 = $4,317 Mil.
Gross Profit was 297 + 262 + 253 + 221 = $1,033 Mil.
Total Current Assets was $1,766 Mil.
Total Assets was $5,552 Mil.
Property, Plant and Equipment(Net PPE) was $618 Mil.
Depreciation, Depletion and Amortization(DDA) was $287 Mil.
Selling, General, & Admin. Expense(SGA) was $458 Mil.
Total Current Liabilities was $1,702 Mil.
Long-Term Debt & Capital Lease Obligation was $2,965 Mil.
Net Income was 46 + 24 + 29 + -8 = $91 Mil.
Non Operating Income was -48 + -5 + 2 + -2 = $-53 Mil.
Cash Flow from Operations was 80 + 107 + 9 + 148 = $344 Mil.
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Total Receivables was $711 Mil.
Revenue was 1098 + 1067 + 1040 + 986 = $4,191 Mil.
Gross Profit was 198 + 268 + 247 + 220 = $933 Mil.
Total Current Assets was $1,874 Mil.
Total Assets was $5,715 Mil.
Property, Plant and Equipment(Net PPE) was $612 Mil.
Depreciation, Depletion and Amortization(DDA) was $254 Mil.
Selling, General, & Admin. Expense(SGA) was $607 Mil.
Total Current Liabilities was $1,759 Mil.
Long-Term Debt & Capital Lease Obligation was $3,047 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) |
| = | (588 / 4317) | / | (711 / 4191) |
| = | 0.136206 | / | 0.169649 |
| | = | 0.8029 |
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) |
| = | (933 / 4191) | / | (1033 / 4317) |
| = | 0.22262 | / | 0.239287 |
| | = | 0.9303 |
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 - (1766 + 618) / 5552) | / | (1 - (1874 + 612) / 5715) |
| = | 0.570605 | / | 0.565004 |
| | = | 1.0099 |
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 |
| = | 4317 | / | 4191 |
| | = | 1.0301 |
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)) |
| = | (254 / (254 + 612)) | / | (287 / (287 + 618)) |
| = | 0.293303 | / | 0.317127 |
| | = | 0.9249 |
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) |
| = | (458 / 4317) | / | (607 / 4191) |
| = | 0.106092 | / | 0.144834 |
| | = | 0.7325 |
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) |
| = | ((2965 + 1702) / 5552) | / | ((3047 + 1759) / 5715) |
| = | 0.840598 | / | 0.840945 |
| | = | 0.9996 |
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 |
| = | (91 - -53 | - | 344) | / | 5552 |
| | = | -0.036023 |
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.
NCR Atleos has a M-score of -2.80 suggests that the company is unlikely to be a manipulator.
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