Fisker Beneish M-Score Historical Data
The historical data trend for Fisker'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.
Fisker Beneish M-Score Chart
|
Fisker Annual Data
|
|
Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
- |
- |
- |
-1.09 |
706.77 |
|
Fisker Quarterly Data
|
|
Dec18 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
-1.09 |
1.27 |
11.14 |
843.12 |
706.77 |
Competitive Comparison of Fisker's Beneish M-Score
For the Auto Manufacturers subindustry, Fisker'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.
Fisker's Beneish M-Score Distribution in the Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Fisker's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Fisker's Beneish M-Score falls into.
Fisker 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 Fisker 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 * 0.0037 | + | 0.528 * -0.2204 | + | 0.404 * 0.7265 | + | 0.892 * 797.9035 | + | 0.115 * 0.2107 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.003 | + | 4.679 * 0.038859 | - | 0.327 * 1.5447 |
| = | 706.77 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $82.1 Mil.
Revenue was 200.06 + 71.8 + 0.825 + 0.198 = $272.9 Mil.
Gross Profit was -253.289 + -32.748 + 0.065 + 0.034 = $-285.9 Mil.
Total Current Assets was $924.2 Mil.
Total Assets was $1,831.7 Mil.
Property, Plant and Equipment(Net PPE) was $682.9 Mil.
Depreciation, Depletion and Amortization(DDA) was $99.1 Mil.
Selling, General, & Admin. Expense(SGA) was $256.2 Mil.
Total Current Liabilities was $902.6 Mil.
Long-Term Debt & Capital Lease Obligation was $1,001.0 Mil.
Net Income was -641.566 + -95.219 + -82.607 + -120.555 = $-939.9 Mil.
Non Operating Income was -353.872 + 8.975 + 3.88 + -1.176 = $-342.2 Mil.
Cash Flow from Operations was -151.351 + -305.771 + -128.067 + -83.742 = $-668.9 Mil.
|
Total Receivables was $27.9 Mil.
Revenue was 0.306 + 0.014 + 0.01 + 0.012 = $0.3 Mil.
Gross Profit was 0.068 + 0.008 + 0.002 + 0.001 = $0.1 Mil.
Total Current Assets was $831.5 Mil.
Total Assets was $1,515.4 Mil.
Property, Plant and Equipment(Net PPE) was $428.1 Mil.
Depreciation, Depletion and Amortization(DDA) was $11.7 Mil.
Selling, General, & Admin. Expense(SGA) was $106.4 Mil.
Total Current Liabilities was $330.9 Mil.
Long-Term Debt & Capital Lease Obligation was $688.7 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) |
| = | (82.084 / 272.883) | / | (27.928 / 0.342) |
| = | 0.300803 | / | 81.660819 |
| | = | 0.0037 |
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) |
| = | (0.079 / 0.342) | / | (-285.938 / 272.883) |
| = | 0.230994 | / | -1.047841 |
| | = | -0.2204 |
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 - (924.154 + 682.858) / 1831.687) | / | (1 - (831.454 + 428.121) / 1515.426) |
| = | 0.12266 | / | 0.168831 |
| | = | 0.7265 |
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 |
| = | 272.883 | / | 0.342 |
| | = | 797.9035 |
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)) |
| = | (11.748 / (11.748 + 428.121)) | / | (99.113 / (99.113 + 682.858)) |
| = | 0.026708 | / | 0.126748 |
| | = | 0.2107 |
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) |
| = | (256.173 / 272.883) | / | (106.417 / 0.342) |
| = | 0.938765 | / | 311.160819 |
| | = | 0.003 |
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) |
| = | ((1000.951 + 902.629) / 1831.687) | / | ((688.706 + 330.881) / 1515.426) |
| = | 1.03925 | / | 0.672806 |
| | = | 1.5447 |
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 |
| = | (-939.947 - -342.193 | - | -668.931) | / | 1831.687 |
| | = | 0.038859 |
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.
Fisker has a M-score of 706.77 signals that the company is likely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
FSRN has been successfully added to your