Energy Transfer LP Beneish M-Score Historical Data
The historical data trend for Energy Transfer LP'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.
|
Energy Transfer LP Annual Data
|
|
Trend |
Dec12 |
Dec13 |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
| Beneish M-Score |
|
|
|
|
|
|
-2.42 |
-2.79 |
-2.53 |
-3.20 |
-1.79 |
|
Energy Transfer LP 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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.13 |
-2.16 |
-1.79 |
-1.61 |
-1.75 |
Competitive Comparison
For the Oil & Gas Midstream subindustry, Energy Transfer LP'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.
Energy Transfer LP Beneish M-Score Distribution
For the Oil & Gas industry and Energy sector, Energy Transfer LP's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Energy Transfer LP's Beneish M-Score falls into.
Energy Transfer LP 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 Energy Transfer LP 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 * 1.1056 | + | 0.528 * 1.6496 | + | 0.404 * 0.885 | + | 0.892 * 1.5697 | + | 0.115 * 1.0088 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.7766 | + | 4.679 * -0.0439 | - | 0.327 * 1.0041 |
| = | -1.75 |
* 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 $10,371 Mil.
Revenue was 25945 + 20491 + 18657 + 16664 = $81,757 Mil.
Gross Profit was 3384 + 3325 + 2923 + 2533 = $12,165 Mil.
Total Current Assets was $15,434 Mil.
Total Assets was $108,769 Mil.
Property, Plant and Equipment(Net PPE) was $80,690 Mil.
Depreciation, Depletion and Amortization(DDA) was $3,997 Mil.
Selling, General, & Admin. Expense(SGA) was $874 Mil.
Total Current Liabilities was $13,475 Mil.
Long-Term Debt & Capital Lease Obligation was $48,905 Mil.
Net Income was 1326 + 1269 + 921 + 635 = $4,151 Mil.
Non Operating Income was 173 + -109 + 36 + 105 = $205 Mil.
Cash Flow from Operations was 2354 + 2370 + 1739 + 2263 = $8,726 Mil.
|
Total Receivables was $5,976 Mil.
Revenue was 15101 + 16995 + 10034 + 9955 = $52,085 Mil.
Gross Profit was 2656 + 5093 + 2368 + 2667 = $12,784 Mil.
Total Current Assets was $8,208 Mil.
Total Assets was $96,242 Mil.
Property, Plant and Equipment(Net PPE) was $75,392 Mil.
Depreciation, Depletion and Amortization(DDA) was $3,769 Mil.
Selling, General, & Admin. Expense(SGA) was $717 Mil.
Total Current Liabilities was $8,547 Mil.
Long-Term Debt & Capital Lease Obligation was $46,424 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) |
| = | (10371 / 81757) | / | (5976 / 52085) |
| = | 0.12685152 | / | 0.11473553 |
| | = | 1.1056 |
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) |
| = | (12784 / 52085) | / | (12165 / 81757) |
| = | 0.24544495 | / | 0.1487946 |
| | = | 1.6496 |
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 - (15434 + 80690) / 108769) | / | (1 - (8208 + 75392) / 96242) |
| = | 0.11625555 | / | 0.13135637 |
| | = | 0.885 |
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 |
| = | 81757 | / | 52085 |
| | = | 1.5697 |
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)) |
| = | (3769 / (3769 + 75392)) | / | (3997 / (3997 + 80690)) |
| = | 0.04761183 | / | 0.04719733 |
| | = | 1.0088 |
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) |
| = | (874 / 81757) | / | (717 / 52085) |
| = | 0.01069022 | / | 0.01376596 |
| | = | 0.7766 |
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) |
| = | ((48905 + 13475) / 108769) | / | ((46424 + 8547) / 96242) |
| = | 0.573509 | / | 0.57117475 |
| | = | 1.0041 |
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 |
| = | (4151 - 205 | - | 8726) | / | 108769 |
| | = | -0.0439 |
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.
Energy Transfer LP has a M-score of -1.75 signals that the company is likely to be a manipulator.
My Portfolios
Create New Portfolio
Portfolio Contest
My Gurus
Personalize
Premium Gurus 
0.18(1.57%) Volume: 12,859,274 4:00PM EDT
Email Alerts
Stock PDF
RSS
Website
Filings
Download
Manual of Stocks™ Web APP
NYSE:ET has been successfully added to your 
