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Credit Suisse Group AG Beneish M-Score

: -3.17 (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.

Good Sign:

Beneish M-Score -3.17 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

CS' s Beneish M-Score Range Over the Past 10 Years
Min: -5.43   Med: -2.49   Max: 5.09
Current: -3.17

During the past 13 years, the highest Beneish M-Score of Credit Suisse Group AG was 5.09. The lowest was -5.43. And the median was -2.49.


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.

* Premium members only.

Credit Suisse Group AG Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Beneish M-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.13 -2.62 -2.40 -2.47 -3.38

Credit Suisse Group AG 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 -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.
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.




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.


Credit Suisse Group AG Beneish M-Score Related Terms

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Credit Suisse Group AG Business Description

Credit Suisse Group AG logo
Address
Paradeplatz 8, Zurich, CHE, 8001
Credit Suisse runs a global wealth management business, a global investment bank and is one of the two dominant Swiss retail and commercial banks. Geographically its business is tilted toward Europe and the Asia-Pacific.

Credit Suisse Group AG Headlines

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