Alta Equipment Group Beneish M-Score Historical Data
The historical data trend for Alta Equipment Group'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.
Alta Equipment Group Beneish M-Score Chart
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Alta Equipment Group Annual Data
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Trend |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
-2.31 |
-2.22 |
-2.60 |
-3.03 |
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Alta Equipment Group 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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-2.66 |
-2.62 |
-3.12 |
-3.03 |
-2.98 |
Competitive Comparison of Alta Equipment Group's Beneish M-Score
For the Rental & Leasing Services subindustry, Alta Equipment Group'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.
Alta Equipment Group's Beneish M-Score Distribution in the Business Services Industry
For the Business Services industry and Industrials sector, Alta Equipment Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Alta Equipment Group's Beneish M-Score falls into.
Alta Equipment Group 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 Alta Equipment Group 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 * 0.8866 | + | 0.528 * 1.016 | + | 0.404 * 1.0323 | + | 0.892 * 0.9791 | + | 0.115 * 0.9386 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.016 | + | 4.679 * -0.080093 | - | 0.327 * 1.052 |
| = | -2.98 |
* 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 $208 Mil.
Revenue was 423 + 498.1 + 448.8 + 488.1 = $1,858 Mil.
Gross Profit was 115 + 116.5 + 124.6 + 132 = $488 Mil.
Total Current Assets was $792 Mil.
Total Assets was $1,505 Mil.
Property, Plant and Equipment(Net PPE) was $560 Mil.
Depreciation, Depletion and Amortization(DDA) was $143 Mil.
Selling, General, & Admin. Expense(SGA) was $439 Mil.
Total Current Liabilities was $584 Mil.
Long-Term Debt & Capital Lease Obligation was $838 Mil.
Net Income was -20.9 + -10.6 + -27.7 + -11.9 = $-71 Mil.
Non Operating Income was 0.9 + 1.5 + -0.3 + -5.7 = $-4 Mil.
Cash Flow from Operations was -17.5 + 34.9 + 43.1 + -7.5 = $53 Mil.
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Total Receivables was $239 Mil.
Revenue was 441.6 + 521.5 + 466.2 + 468.4 = $1,898 Mil.
Gross Profit was 120.6 + 133 + 126.1 + 126.8 = $507 Mil.
Total Current Assets was $822 Mil.
Total Assets was $1,563 Mil.
Property, Plant and Equipment(Net PPE) was $587 Mil.
Depreciation, Depletion and Amortization(DDA) was $139 Mil.
Selling, General, & Admin. Expense(SGA) was $441 Mil.
Total Current Liabilities was $631 Mil.
Long-Term Debt & Capital Lease Obligation was $774 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) |
| = | (207.8 / 1858) | / | (239.4 / 1897.7) |
| = | 0.111841 | / | 0.126153 |
| | = | 0.8866 |
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) |
| = | (506.5 / 1897.7) | / | (488.1 / 1858) |
| = | 0.266902 | / | 0.262702 |
| | = | 1.016 |
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 - (791.8 + 559.8) / 1504.5) | / | (1 - (822.3 + 587.1) / 1563.3) |
| = | 0.101628 | / | 0.098446 |
| | = | 1.0323 |
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 |
| = | 1858 | / | 1897.7 |
| | = | 0.9791 |
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)) |
| = | (138.5 / (138.5 + 587.1)) | / | (142.9 / (142.9 + 559.8)) |
| = | 0.190877 | / | 0.203358 |
| | = | 0.9386 |
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) |
| = | (438.6 / 1858) | / | (440.9 / 1897.7) |
| = | 0.23606 | / | 0.232334 |
| | = | 1.016 |
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) |
| = | ((838.4 + 583.9) / 1504.5) | / | ((773.7 + 631.1) / 1563.3) |
| = | 0.945364 | / | 0.898612 |
| | = | 1.052 |
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 |
| = | (-71.1 - -3.6 | - | 53) | / | 1504.5 |
| | = | -0.080093 |
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.
Alta Equipment Group has a M-score of -2.98 suggests that the company is unlikely to be a manipulator.
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