Iamgold Beneish M-Score Historical Data
The historical data trend for Iamgold'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.
Iamgold Beneish M-Score Chart
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Iamgold Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.73 |
-2.66 |
-2.82 |
-2.51 |
-2.76 |
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Iamgold Quarterly Data
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Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
Mar25 |
| Beneish M-Score |
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-2.99 |
-2.76 |
-2.90 |
-2.76 |
-2.13 |
Competitive Comparison of Iamgold's Beneish M-Score
For the Gold subindustry, Iamgold'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.
Iamgold's Beneish M-Score Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Iamgold's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Iamgold's Beneish M-Score falls into.
Iamgold 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 Iamgold 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 * 1.0462 | + | 0.528 * 0.5136 | + | 0.404 * 0.9326 | + | 0.892 * 1.6105 | + | 0.115 * 0.9636 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.692 | + | 4.679 * -0.027813 | - | 0.327 * 0.8553 |
| = | -2.21 |
* 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 (Mar25) TTM: | Last Year (Mar24) TTM: |
Total Receivables was $62 Mil.
Revenue was 477.1 + 469.9 + 438.9 + 385.3 = $1,771 Mil.
Gross Profit was 141.2 + 130.9 + 162.6 + 150.7 = $585 Mil.
Total Current Assets was $681 Mil.
Total Assets was $5,390 Mil.
Property, Plant and Equipment(Net PPE) was $4,374 Mil.
Depreciation, Depletion and Amortization(DDA) was $293 Mil.
Selling, General, & Admin. Expense(SGA) was $49 Mil.
Total Current Liabilities was $482 Mil.
Long-Term Debt & Capital Lease Obligation was $1,121 Mil.
Net Income was 39.7 + 86.2 + 594.1 + 84.5 = $805 Mil.
Non Operating Income was -0.5 + -12.5 + 495.6 + -11.4 = $471 Mil.
Cash Flow from Operations was 74.3 + 102.6 + 146.2 + 160.1 = $483 Mil.
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Total Receivables was $37 Mil.
Revenue was 338.9 + 297.6 + 224.5 + 238.8 = $1,100 Mil.
Gross Profit was 105.7 + 49.8 + 4.6 + 26.6 = $187 Mil.
Total Current Assets was $637 Mil.
Total Assets was $4,671 Mil.
Property, Plant and Equipment(Net PPE) was $3,723 Mil.
Depreciation, Depletion and Amortization(DDA) was $239 Mil.
Selling, General, & Admin. Expense(SGA) was $44 Mil.
Total Current Liabilities was $700 Mil.
Long-Term Debt & Capital Lease Obligation was $924 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) |
| = | (61.5 / 1771.2) | / | (36.5 / 1099.8) |
| = | 0.034722 | / | 0.033188 |
| | = | 1.0462 |
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) |
| = | (186.7 / 1099.8) | / | (585.4 / 1771.2) |
| = | 0.169758 | / | 0.33051 |
| | = | 0.5136 |
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 - (680.7 + 4373.6) / 5389.5) | / | (1 - (636.5 + 3722.8) / 4670.8) |
| = | 0.062195 | / | 0.066691 |
| | = | 0.9326 |
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 |
| = | 1771.2 | / | 1099.8 |
| | = | 1.6105 |
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)) |
| = | (239.4 / (239.4 + 3722.8)) | / | (292.6 / (292.6 + 4373.6)) |
| = | 0.060421 | / | 0.062706 |
| | = | 0.9636 |
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) |
| = | (48.7 / 1771.2) | / | (43.7 / 1099.8) |
| = | 0.027495 | / | 0.039734 |
| | = | 0.692 |
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) |
| = | ((1120.6 + 481.9) / 5389.5) | / | ((923.9 + 699.9) / 4670.8) |
| = | 0.297337 | / | 0.347649 |
| | = | 0.8553 |
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 |
| = | (804.5 - 471.2 | - | 483.2) | / | 5389.5 |
| | = | -0.027813 |
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.
Iamgold has a M-score of -2.21 suggests that the company is unlikely to be a manipulator.
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