Baker Hughes Co Beneish M-Score Historical Data
The historical data trend for Baker Hughes Co'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.
Baker Hughes Co Beneish M-Score Chart
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Baker Hughes Co Annual Data
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Dec15 |
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Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.20 |
-2.81 |
-2.61 |
-2.47 |
-2.52 |
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Baker Hughes Co Quarterly Data
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Jun20 |
Sep20 |
Dec20 |
Mar21 |
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Mar22 |
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Mar24 |
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Dec24 |
Mar25 |
| Beneish M-Score |
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-2.57 |
-2.46 |
-2.51 |
-2.52 |
-2.51 |
Competitive Comparison of Baker Hughes Co's Beneish M-Score
For the Oil & Gas Equipment & Services subindustry, Baker Hughes Co'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.
Baker Hughes Co's Beneish M-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Baker Hughes Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Baker Hughes Co's Beneish M-Score falls into.
Baker Hughes Co 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 Baker Hughes Co 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 * 0.9192 | + | 0.528 * 0.9752 | + | 0.404 * 0.9938 | + | 0.892 * 1.0622 | + | 0.115 * 1.0114 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8841 | + | 4.679 * -0.006586 | - | 0.327 * 0.9503 |
| = | -2.51 |
* 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 $6,710 Mil.
Revenue was 6427 + 7364 + 6908 + 7139 = $27,838 Mil.
Gross Profit was 1475 + 1530 + 1542 + 1490 = $6,037 Mil.
Total Current Assets was $16,841 Mil.
Total Assets was $38,110 Mil.
Property, Plant and Equipment(Net PPE) was $5,168 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,138 Mil.
Selling, General, & Admin. Expense(SGA) was $2,417 Mil.
Total Current Liabilities was $12,594 Mil.
Long-Term Debt & Capital Lease Obligation was $5,969 Mil.
Net Income was 402 + 1179 + 766 + 579 = $2,926 Mil.
Non Operating Income was -140 + -98 + 134 + 24 = $-80 Mil.
Cash Flow from Operations was 709 + 1190 + 1010 + 348 = $3,257 Mil.
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Total Receivables was $6,873 Mil.
Revenue was 6418 + 6835 + 6641 + 6315 = $26,209 Mil.
Gross Profit was 1442 + 1447 + 1343 + 1311 = $5,543 Mil.
Total Current Assets was $16,420 Mil.
Total Assets was $37,141 Mil.
Property, Plant and Equipment(Net PPE) was $4,931 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,101 Mil.
Selling, General, & Admin. Expense(SGA) was $2,574 Mil.
Total Current Liabilities was $13,179 Mil.
Long-Term Debt & Capital Lease Obligation was $5,858 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) |
| = | (6710 / 27838) | / | (6873 / 26209) |
| = | 0.241037 | / | 0.262238 |
| | = | 0.9192 |
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) |
| = | (5543 / 26209) | / | (6037 / 27838) |
| = | 0.211492 | / | 0.216862 |
| | = | 0.9752 |
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 - (16841 + 5168) / 38110) | / | (1 - (16420 + 4931) / 37141) |
| = | 0.422488 | / | 0.425137 |
| | = | 0.9938 |
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 |
| = | 27838 | / | 26209 |
| | = | 1.0622 |
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)) |
| = | (1101 / (1101 + 4931)) | / | (1138 / (1138 + 5168)) |
| = | 0.182527 | / | 0.180463 |
| | = | 1.0114 |
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) |
| = | (2417 / 27838) | / | (2574 / 26209) |
| = | 0.086824 | / | 0.098211 |
| | = | 0.8841 |
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) |
| = | ((5969 + 12594) / 38110) | / | ((5858 + 13179) / 37141) |
| = | 0.48709 | / | 0.51256 |
| | = | 0.9503 |
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 |
| = | (2926 - -80 | - | 3257) | / | 38110 |
| | = | -0.006586 |
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.
Baker Hughes Co has a M-score of -2.51 suggests that the company is unlikely to be a manipulator.
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