Nordex SE Beneish M-Score Historical Data
The historical data trend for Nordex SE'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.
Nordex SE Beneish M-Score Chart
|
Nordex SE Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.32 |
-1.10 |
-2.81 |
-2.02 |
-3.08 |
|
Nordex SE Quarterly Data
|
|
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.23 |
-2.61 |
-3.08 |
-2.49 |
-2.63 |
Competitive Comparison of Nordex SE's Beneish M-Score
For the Specialty Industrial Machinery subindustry, Nordex SE'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.
Nordex SE's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Nordex SE's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Nordex SE's Beneish M-Score falls into.
Nordex SE 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 Nordex SE 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 * 1.1852 | + | 0.528 * 0.4436 | + | 0.404 * 1.0939 | + | 0.892 * 1.1694 | + | 0.115 * 0.9236 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8217 | + | 4.679 * -0.059747 | - | 0.327 * 0.9242 |
| = | -2.65 |
* 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 (Jun24) TTM: | Last Year (Jun23) TTM: |
Total Receivables was $1,298 Mil.
Revenue was 2002.447 + 1711.087 + 2194.372 + 1839.538 = $7,747 Mil.
Gross Profit was 387.292 + 335.841 + 408.924 + 337.7 = $1,470 Mil.
Total Current Assets was $3,671 Mil.
Total Assets was $5,865 Mil.
Property, Plant and Equipment(Net PPE) was $585 Mil.
Depreciation, Depletion and Amortization(DDA) was $200 Mil.
Selling, General, & Admin. Expense(SGA) was $67 Mil.
Total Current Liabilities was $3,720 Mil.
Long-Term Debt & Capital Lease Obligation was $7 Mil.
Net Income was 0.56 + -14.172 + 33.651 + -37.149 = $-17 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 140.31 + -220.093 + 381.759 + 31.312 = $333 Mil.
|
Total Receivables was $937 Mil.
Revenue was 1664.222 + 1303.11 + 1928.099 + 1729.926 = $6,625 Mil.
Gross Profit was 201.01 + 115.531 + 49.673 + 191.342 = $558 Mil.
Total Current Assets was $3,277 Mil.
Total Assets was $5,196 Mil.
Property, Plant and Equipment(Net PPE) was $616 Mil.
Depreciation, Depletion and Amortization(DDA) was $189 Mil.
Selling, General, & Admin. Expense(SGA) was $69 Mil.
Total Current Liabilities was $3,407 Mil.
Long-Term Debt & Capital Lease Obligation was $165 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) |
| = | (1298.321 / 7747.444) | / | (936.796 / 6625.357) |
| = | 0.167581 | / | 0.141396 |
| | = | 1.1852 |
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) |
| = | (557.556 / 6625.357) | / | (1469.757 / 7747.444) |
| = | 0.084155 | / | 0.189709 |
| | = | 0.4436 |
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 - (3670.831 + 585.462) / 5864.671) | / | (1 - (3276.987 + 616.173) / 5195.806) |
| = | 0.274249 | / | 0.250711 |
| | = | 1.0939 |
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 |
| = | 7747.444 | / | 6625.357 |
| | = | 1.1694 |
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)) |
| = | (189.111 / (189.111 + 616.173)) | / | (199.61 / (199.61 + 585.462)) |
| = | 0.234838 | / | 0.254257 |
| | = | 0.9236 |
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) |
| = | (66.658 / 7747.444) | / | (69.376 / 6625.357) |
| = | 0.008604 | / | 0.010471 |
| | = | 0.8217 |
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) |
| = | ((6.997 + 3719.843) / 5864.671) | / | ((165.141 + 3407.322) / 5195.806) |
| = | 0.635473 | / | 0.687567 |
| | = | 0.9242 |
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 |
| = | (-17.11 - 0 | - | 333.288) | / | 5864.671 |
| | = | -0.059747 |
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.
Nordex SE has a M-score of -2.65 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
NRXXY has been successfully added to your