Louisiana-Pacific Beneish M-Score Historical Data
The historical data trend for Louisiana-Pacific'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.
Louisiana-Pacific Beneish M-Score Chart
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Louisiana-Pacific Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-3.06 |
-2.53 |
-2.68 |
-1.90 |
-3.04 |
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Louisiana-Pacific 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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-2.61 |
-3.07 |
-3.18 |
-3.04 |
-2.86 |
Competitive Comparison of Louisiana-Pacific's Beneish M-Score
For the Building Products & Equipment subindustry, Louisiana-Pacific'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.
Louisiana-Pacific's Beneish M-Score Distribution in the Construction Industry
For the Construction industry and Industrials sector, Louisiana-Pacific's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Louisiana-Pacific's Beneish M-Score falls into.
Louisiana-Pacific 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 Louisiana-Pacific 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 * 0.8124 | + | 0.528 * 0.9348 | + | 0.404 * 1.0997 | + | 0.892 * 1.0805 | + | 0.115 * 0.9843 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0613 | + | 4.679 * -0.058755 | - | 0.327 * 1.0034 |
| = | -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 (Mar25) TTM: | Last Year (Mar24) TTM: |
Total Receivables was $158 Mil.
Revenue was 724 + 680 + 722 + 814 = $2,940 Mil.
Gross Profit was 197 + 163 + 193 + 263 = $816 Mil.
Total Current Assets was $839 Mil.
Total Assets was $2,570 Mil.
Property, Plant and Equipment(Net PPE) was $1,631 Mil.
Depreciation, Depletion and Amortization(DDA) was $130 Mil.
Selling, General, & Admin. Expense(SGA) was $297 Mil.
Total Current Liabilities was $276 Mil.
Long-Term Debt & Capital Lease Obligation was $371 Mil.
Net Income was 91 + 62 + 90 + 160 = $403 Mil.
Non Operating Income was -3 + -18 + 1 + 10 = $-10 Mil.
Cash Flow from Operations was 64 + 105 + 183 + 212 = $564 Mil.
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Total Receivables was $180 Mil.
Revenue was 724 + 658 + 728 + 611 = $2,721 Mil.
Gross Profit was 214 + 159 + 214 + 119 = $706 Mil.
Total Current Assets was $842 Mil.
Total Assets was $2,487 Mil.
Property, Plant and Equipment(Net PPE) was $1,557 Mil.
Depreciation, Depletion and Amortization(DDA) was $122 Mil.
Selling, General, & Admin. Expense(SGA) was $259 Mil.
Total Current Liabilities was $253 Mil.
Long-Term Debt & Capital Lease Obligation was $371 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) |
| = | (158 / 2940) | / | (180 / 2721) |
| = | 0.053741 | / | 0.066152 |
| | = | 0.8124 |
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) |
| = | (706 / 2721) | / | (816 / 2940) |
| = | 0.259463 | / | 0.277551 |
| | = | 0.9348 |
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 - (839 + 1631) / 2570) | / | (1 - (842 + 1557) / 2487) |
| = | 0.038911 | / | 0.035384 |
| | = | 1.0997 |
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 |
| = | 2940 | / | 2721 |
| | = | 1.0805 |
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)) |
| = | (122 / (122 + 1557)) | / | (130 / (130 + 1631)) |
| = | 0.072662 | / | 0.073822 |
| | = | 0.9843 |
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) |
| = | (297 / 2940) | / | (259 / 2721) |
| = | 0.10102 | / | 0.095186 |
| | = | 1.0613 |
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) |
| = | ((371 + 276) / 2570) | / | ((371 + 253) / 2487) |
| = | 0.251751 | / | 0.250905 |
| | = | 1.0034 |
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 |
| = | (403 - -10 | - | 564) | / | 2570 |
| | = | -0.058755 |
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.
Louisiana-Pacific has a M-score of -2.86 suggests that the company is unlikely to be a manipulator.
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