Credit Suisse Group AG Beneish M-Score Historical Data
The historical data trend for Credit Suisse Group AG'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.
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Credit Suisse Group AG Annual Data
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Trend |
Dec12 |
Dec13 |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
| Beneish M-Score |
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-2.13 |
-2.62 |
-2.40 |
-2.47 |
-3.38 |
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Credit Suisse Group AG Quarterly Data
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Sep17 |
Dec17 |
Mar18 |
Jun18 |
Sep18 |
Dec18 |
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
| Beneish M-Score |
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-2.88 |
-2.95 |
-3.38 |
-2.97 |
-3.17 |
Competitive Comparison
For the Banks - Diversified subindustry, Credit Suisse Group AG'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.
Credit Suisse Group AG Beneish M-Score Distribution
For the Banks industry and Financial Services sector, Credit Suisse Group AG's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Credit Suisse Group AG's Beneish M-Score falls into.
Credit Suisse Group AG 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 Credit Suisse Group AG 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 * 0.3776 | + | 0.528 * 1 | + | 0.404 * 1.0006 | + | 0.892 * 1.0024 | + | 0.115 * 0.1584 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9605 | + | 4.679 * -0.0218 | - | 0.327 * 0.9254 |
| = | -3.22 |
* 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 $15,523 Mil.
Revenue was 3675.530818388 + 4733.1611792554 + 4424.5385450597 + 5415.0411790204 = $18,248 Mil.
Gross Profit was 3675.530818388 + 4733.1611792554 + 4424.5385450597 + 5415.0411790204 = $18,248 Mil.
Total Current Assets was $180,770 Mil.
Total Assets was $749,706 Mil.
Property, Plant and Equipment(Net PPE) was $0 Mil.
Depreciation, Depletion and Amortization(DDA) was $2,922 Mil.
Selling, General, & Admin. Expense(SGA) was $15,626 Mil.
Total Current Liabilities was $29,072 Mil.
Long-Term Debt & Capital Lease Obligation was $162,863 Mil.
Net Income was -1641.9294990724 + -293.7378954164 + -2263.8436482085 + 470.30775899436 = $-3,729 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 0 + -4997.8480740263 + 8603.6916395223 + 9036.6276549632 = $12,642 Mil.
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Total Receivables was $41,008 Mil.
Revenue was 4855.6950870236 + 2839.320283932 + 5198.108959928 + 5312.0559624003 = $18,205 Mil.
Gross Profit was 4855.6950870236 + 2839.320283932 + 5198.108959928 + 5312.0559624003 = $18,205 Mil.
Total Current Assets was $203,869 Mil.
Total Assets was $877,725 Mil.
Property, Plant and Equipment(Net PPE) was $8,182 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,541 Mil.
Selling, General, & Admin. Expense(SGA) was $16,229 Mil.
Total Current Liabilities was $52,377 Mil.
Long-Term Debt & Capital Lease Obligation was $190,437 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) |
| = | (15522.57266543 / 18248.271721723) | / | (41007.931262393 / 18205.180293284) |
| = | 0.85063248 | / | 2.25254189 |
| | = | 0.3776 |
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) |
| = | (18205.180293284 / 18205.180293284) | / | (18248.271721723 / 18248.271721723) |
| = | 1 | / | 1 |
| | = | 1 |
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 - (180769.94434137 + 0) / 749706.24613482) | / | (1 - (203868.69354483 + 8182.4190350297) / 877725.26988323) |
| = | 0.75887897 | / | 0.75840833 |
| | = | 1.0006 |
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 |
| = | 18248.271721723 | / | 18205.180293284 |
| | = | 1.0024 |
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)) |
| = | (1540.5627132565 / (1540.5627132565 + 8182.4190350297)) | / | (2921.9672677496 / (2921.9672677496 + 0)) |
| = | 0.1584455 | / | 1 |
| | = | 0.1584 |
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) |
| = | (15625.78420137 / 18248.271721723) | / | (16229.412910092 / 18205.180293284) |
| = | 0.85628844 | / | 0.89147224 |
| | = | 0.9605 |
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) |
| = | ((162863.32714904 + 29072.356215213) / 749706.24613482) | / | ((190437.32099581 + 52377.175589337) / 877725.26988323) |
| = | 0.25601452 | / | 0.27664066 |
| | = | 0.9254 |
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 |
| = | (-3729.2032837029 - 0 | - | 12642.471220459) | / | 749706.24613482 |
| | = | -0.0218 |
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.
Credit Suisse Group AG has a M-score of -3.22 suggests that the company is unlikely to be a manipulator.
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