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Atkore Beneish M-Score

: -1.49 (As of Today)
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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.

Warning Sign:

Beneish M-Score -1.49 higher than -1.78, which implies that the company might have manipulated its financial results.

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

ATKR' s Beneish M-Score Range Over the Past 10 Years
Min: -3.25   Med: -2.55   Max: -1.49
Current: -1.49

During the past 9 years, the highest Beneish M-Score of Atkore was -1.49. The lowest was -3.25. And the median was -2.55.


Atkore Beneish M-Score Historical Data

The historical data trend for Atkore'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.

Atkore Annual Data
Trend Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21
Beneish M-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.28 -2.63 -2.60 -2.89 -1.99

Atkore Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
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 -1.85 -1.99 -1.77 -1.57 -1.49

Competitive Comparison

For the Electrical Equipment & Parts subindustry, Atkore'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.

   

Atkore Beneish M-Score Distribution

For the Industrial Products industry and Industrials sector, Atkore's Beneish M-Score distribution charts can be found below:

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



Atkore 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 Atkore 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 * 0.9154+0.528 * 0.8875+0.404 * 1.1624+0.892 * 1.5347+0.115 * 1.2186
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8502+4.679 * 0.1039-0.327 * 0.8679
=-1.49

* 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 (Jun22) TTM:Last Year (Jun21) TTM:
Total Receivables was $737 Mil.
Revenue was 1061.59 + 982.573 + 840.801 + 923.731 = $3,809 Mil.
Gross Profit was 454.323 + 416.416 + 354.808 + 357.3 = $1,583 Mil.
Total Current Assets was $1,434 Mil.
Total Assets was $2,484 Mil.
Property, Plant and Equipment(Net PPE) was $385 Mil.
Depreciation, Depletion and Amortization(DDA) was $94 Mil.
Selling, General, & Admin. Expense(SGA) was $346 Mil.
Total Current Liabilities was $518 Mil.
Long-Term Debt & Capital Lease Obligation was $792 Mil.
Net Income was 254.313 + 233.477 + 204.843 + 202.561 = $895 Mil.
Non Operating Income was -0.15 + 0.807 + 0.308 + 9.972 = $11 Mil.
Cash Flow from Operations was 210.617 + 63.967 + 97.192 + 254.281 = $626 Mil.
Total Receivables was $525 Mil.
Revenue was 853.658 + 639.543 + 511.082 + 477.42 = $2,482 Mil.
Gross Profit was 339.273 + 239.849 + 189.191 + 147.054 = $915 Mil.
Total Current Assets was $1,231 Mil.
Total Assets was $1,977 Mil.
Property, Plant and Equipment(Net PPE) was $291 Mil.
Depreciation, Depletion and Amortization(DDA) was $92 Mil.
Selling, General, & Admin. Expense(SGA) was $265 Mil.
Total Current Liabilities was $398 Mil.
Long-Term Debt & Capital Lease Obligation was $803 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)
=(737.319 / 3808.695) / (524.857 / 2481.703)
=0.19358836 / 0.21149066
=0.9154

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)
=(915.367 / 2481.703) / (1582.847 / 3808.695)
=0.36884631 / 0.41558775
=0.8875

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 - (1433.706 + 385.461) / 2484.051) / (1 - (1230.923 + 291.098) / 1977.359)
=0.26766117 / 0.23027584
=1.1624

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
=3808.695 / 2481.703
=1.5347

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))
=(91.774 / (91.774 + 291.098)) / (94.387 / (94.387 + 385.461))
=0.23969891 / 0.19670187
=1.2186

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)
=(345.79 / 3808.695) / (265.012 / 2481.703)
=0.09078963 / 0.10678635
=0.8502

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)
=((791.713 + 518.154) / 2484.051) / ((803.484 + 397.945) / 1977.359)
=0.52731083 / 0.60759275
=0.8679

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
=(895.194 - 10.937 - 626.057) / 2484.051
=0.1039

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.

Atkore has a M-score of -1.49 signals that the company is likely to be a manipulator.


Atkore Business Description

Atkore logo
Traded in Other Exchanges
Address
16100 South Lathrop Avenue, Harvey, IL, USA, 60426
Atkore is a diversified industrials company and a leading manufacturer of electrical, mechanical, and safety infrastructure solutions. Atkore has two business segments: electrical and safety and infrastructure. Net sales are highest in the electrical business line as well as in the United States. The key product categories in the electrical segment are PVC conduit, steel conduit, and PVC-coated conduit, which are staples for electrical distributors. The key product categories in the safety and infrastructure segment include in-line galvanized mechanical tube, metal framing and related fittings, and security bollards. Also, the company provides ancillary services to customers in the form of slitting and cutting structural steel sheets.
Executives
Pregenzer John W officer: President, Electrical 16100 S LATHROP AVENUE HARVEY IL 60426
Lowe Leangela W. officer: VP, Global Human Resources 16100 S. LATHROP AVENUE HARVEY IL 60426
Lamps Mark F. officer: Pres. Mech. Prods. & Solutions 16100 S. LATHROP AVENUE HARVEY IL 60426
Johnson David Paul officer: Vice President and CFO 16100 SOUTH LATHROP AVENUE HARVEY IL 60426
Johnson Betty R. director 20 LAKE VIEW ROAD HAWTHORN WOODS IL 60047
Schrock Michael V director 5500 WAYZATA BLVD. SUITE 800 GOLDEN VALLEY MN 55416
James Wilbert W Jr director 16100 SOUTH LATHROP AVENUE HARVEY IL 60426
Kershaw Justin A director 16100 SOUTH LATHROP AVENUE HARVEY IL 60426
Schulte Michael J officer: Pres, Mech. Prods. & Solutions 16100 SOUTH LATHROP AVENUE HARVEY IL 60426
Muse Scott H director C/O RICHARD W DAVIES HUBBELL INC 684 DERBY MILFORD RD ORANGE CT 06477
Vanarsdale William director 16100 SOUTH LATHROP AVENUE HARVEY IL 60426
Waltz William E Jr. officer: President, Conduit & Fittings 16100 SOUTH LATHROP AVENUE HARVEY IL 60426
Mallak James A officer: VP and Chief Financial Officer 27175 HAGGERTY RD NOVI MI 48377
Fitzpatrick Kevin P officer: VP, Global Human Resources 3400 N. WOLF FRANKLIN PARK IL 60131
Williamson John Patrick officer: President and CEO 16100 SOUTH LATHROP AVENUE HARVEY IL 60426

Atkore Headlines

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