Hewlett Packard Enterprise Co Beneish M-Score Historical Data
The historical data trend for Hewlett Packard Enterprise 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.
|
Hewlett Packard Enterprise Co Annual Data
|
|
Trend |
Oct14 |
Oct15 |
Oct16 |
Oct17 |
Oct18 |
Oct19 |
Oct20 |
Oct21 |
Oct22 |
Oct23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.99 |
-2.46 |
-2.75 |
-2.74 |
-2.74 |
|
Hewlett Packard Enterprise Co Quarterly Data
|
|
Apr19 |
Jul19 |
Oct19 |
Jan20 |
Apr20 |
Jul20 |
Oct20 |
Jan21 |
Apr21 |
Jul21 |
Oct21 |
Jan22 |
Apr22 |
Jul22 |
Oct22 |
Jan23 |
Apr23 |
Jul23 |
Oct23 |
Jan24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.53 |
-2.59 |
-2.65 |
-2.74 |
-2.86 |
Competitive Comparison
For the Communication Equipment subindustry, Hewlett Packard Enterprise 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.
Hewlett Packard Enterprise Co Beneish M-Score Distribution
For the Hardware industry and Technology sector, Hewlett Packard Enterprise Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Hewlett Packard Enterprise Co's Beneish M-Score falls into.
Hewlett Packard Enterprise 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 Hewlett Packard Enterprise 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 * 0.9768 | + | 0.528 * 0.9362 | + | 0.404 * 0.9787 | + | 0.892 * 0.957 | + | 0.115 * 0.9733 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0705 | + | 4.679 * -0.057063 | - | 0.327 * 0.995 |
| = | -2.86 |
* 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 (Jan24) TTM: | Last Year (Jan23) TTM: |
Total Receivables was $7,410 Mil.
Revenue was 6755 + 7351 + 7002 + 6973 = $28,081 Mil.
Gross Profit was 2457 + 2559 + 2510 + 2512 = $10,038 Mil.
Total Current Assets was $20,244 Mil.
Total Assets was $58,602 Mil.
Property, Plant and Equipment(Net PPE) was $5,997 Mil.
Depreciation, Depletion and Amortization(DDA) was $2,617 Mil.
Selling, General, & Admin. Expense(SGA) was $5,119 Mil.
Total Current Liabilities was $22,635 Mil.
Long-Term Debt & Capital Lease Obligation was $7,840 Mil.
Net Income was 387 + 642 + 464 + 418 = $1,911 Mil.
Non Operating Income was -17 + -6 + -17 + -26 = $-66 Mil.
Cash Flow from Operations was 64 + 2843 + 1525 + 889 = $5,321 Mil.
|
Total Receivables was $7,927 Mil.
Revenue was 7809 + 7871 + 6951 + 6713 = $29,344 Mil.
Gross Profit was 2658 + 2593 + 2396 + 2173 = $9,820 Mil.
Total Current Assets was $18,234 Mil.
Total Assets was $55,591 Mil.
Property, Plant and Equipment(Net PPE) was $5,990 Mil.
Depreciation, Depletion and Amortization(DDA) was $2,515 Mil.
Selling, General, & Admin. Expense(SGA) was $4,997 Mil.
Total Current Liabilities was $21,476 Mil.
Long-Term Debt & Capital Lease Obligation was $7,577 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) |
| = | (7410 / 28081) | / | (7927 / 29344) |
| = | 0.263879 | / | 0.27014 |
| | = | 0.9768 |
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) |
| = | (9820 / 29344) | / | (10038 / 28081) |
| = | 0.334651 | / | 0.357466 |
| | = | 0.9362 |
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 - (20244 + 5997) / 58602) | / | (1 - (18234 + 5990) / 55591) |
| = | 0.552217 | / | 0.564246 |
| | = | 0.9787 |
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 |
| = | 28081 | / | 29344 |
| | = | 0.957 |
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)) |
| = | (2515 / (2515 + 5990)) | / | (2617 / (2617 + 5997)) |
| = | 0.295708 | / | 0.303808 |
| | = | 0.9733 |
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) |
| = | (5119 / 28081) | / | (4997 / 29344) |
| = | 0.182294 | / | 0.17029 |
| | = | 1.0705 |
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) |
| = | ((7840 + 22635) / 58602) | / | ((7577 + 21476) / 55591) |
| = | 0.520033 | / | 0.522621 |
| | = | 0.995 |
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 |
| = | (1911 - -66 | - | 5321) | / | 58602 |
| | = | -0.057063 |
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.
Hewlett Packard Enterprise Co has a M-score of -2.86 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
HPE has been successfully added to your