Keysight Technologies Beneish M-Score Historical Data
The historical data trend for Keysight Technologies'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.
Keysight Technologies Beneish M-Score Chart
|
Keysight Technologies Annual Data
|
|
Trend |
Oct14 |
Oct15 |
Oct16 |
Oct17 |
Oct18 |
Oct19 |
Oct20 |
Oct21 |
Oct22 |
Oct23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.76 |
-2.84 |
-2.57 |
-2.31 |
-2.68 |
|
Keysight Technologies 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.30 |
-2.54 |
-2.64 |
-2.68 |
-2.70 |
Competitive Comparison of Keysight Technologies's Beneish M-Score
For the Scientific & Technical Instruments subindustry, Keysight Technologies'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.
Keysight Technologies's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Keysight Technologies's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Keysight Technologies's Beneish M-Score falls into.
Keysight Technologies 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 Keysight Technologies 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 * 0.9126 | + | 0.528 * 0.981 | + | 0.404 * 1.2361 | + | 0.892 * 0.9623 | + | 0.115 * 1.0184 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.068 | + | 4.679 * -0.04106 | - | 0.327 * 0.9536 |
| = | -2.70 |
* 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 $808 Mil.
Revenue was 1259 + 1311 + 1382 + 1390 = $5,342 Mil.
Gross Profit was 813 + 844 + 896 + 909 = $3,462 Mil.
Total Current Assets was $4,076 Mil.
Total Assets was $9,060 Mil.
Property, Plant and Equipment(Net PPE) was $1,007 Mil.
Depreciation, Depletion and Amortization(DDA) was $227 Mil.
Selling, General, & Admin. Expense(SGA) was $1,331 Mil.
Total Current Liabilities was $2,116 Mil.
Long-Term Debt & Capital Lease Obligation was $1,406 Mil.
Net Income was 172 + 226 + 288 + 283 = $969 Mil.
Non Operating Income was 5 + -53 + 14 + 5 = $-29 Mil.
Cash Flow from Operations was 328 + 378 + 241 + 423 = $1,370 Mil.
|
Total Receivables was $920 Mil.
Revenue was 1381 + 1443 + 1376 + 1351 = $5,551 Mil.
Gross Profit was 883 + 910 + 877 + 859 = $3,529 Mil.
Total Current Assets was $4,498 Mil.
Total Assets was $8,448 Mil.
Property, Plant and Equipment(Net PPE) was $950 Mil.
Depreciation, Depletion and Amortization(DDA) was $219 Mil.
Selling, General, & Admin. Expense(SGA) was $1,295 Mil.
Total Current Liabilities was $1,465 Mil.
Long-Term Debt & Capital Lease Obligation was $1,979 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) |
| = | (808 / 5342) | / | (920 / 5551) |
| = | 0.151254 | / | 0.165736 |
| | = | 0.9126 |
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) |
| = | (3529 / 5551) | / | (3462 / 5342) |
| = | 0.635741 | / | 0.648072 |
| | = | 0.981 |
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 - (4076 + 1007) / 9060) | / | (1 - (4498 + 950) / 8448) |
| = | 0.438962 | / | 0.355114 |
| | = | 1.2361 |
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 |
| = | 5342 | / | 5551 |
| | = | 0.9623 |
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)) |
| = | (219 / (219 + 950)) | / | (227 / (227 + 1007)) |
| = | 0.18734 | / | 0.183955 |
| | = | 1.0184 |
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) |
| = | (1331 / 5342) | / | (1295 / 5551) |
| = | 0.249158 | / | 0.233291 |
| | = | 1.068 |
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) |
| = | ((1406 + 2116) / 9060) | / | ((1979 + 1465) / 8448) |
| = | 0.388742 | / | 0.40767 |
| | = | 0.9536 |
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 |
| = | (969 - -29 | - | 1370) | / | 9060 |
| | = | -0.04106 |
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.
Keysight Technologies has a M-score of -2.70 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
KEYS has been successfully added to your