nVent Electric Beneish M-Score Historical Data
The historical data trend for nVent Electric'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.
nVent Electric Beneish M-Score Chart
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nVent Electric Annual Data
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Dec15 |
Dec16 |
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Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.73 |
-2.33 |
-2.42 |
-2.55 |
-2.64 |
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nVent Electric Quarterly Data
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Jun20 |
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Dec20 |
Mar21 |
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Mar24 |
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Dec24 |
Mar25 |
| Beneish M-Score |
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-2.28 |
-2.43 |
-2.58 |
-2.64 |
-2.63 |
Competitive Comparison of nVent Electric's Beneish M-Score
For the Electrical Equipment & Parts subindustry, nVent Electric'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.
nVent Electric's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, nVent Electric's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where nVent Electric's Beneish M-Score falls into.
nVent Electric 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 nVent Electric 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 * 0.8645 | + | 0.528 * 1.0079 | + | 0.404 * 0.8316 | + | 0.892 * 1.0963 | + | 0.115 * 0.7398 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0181 | + | 4.679 * -0.00507 | - | 0.327 * 0.9668 |
| = | -2.63 |
* 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 $607 Mil.
Revenue was 809.3 + 752.2 + 782 + 880.3 = $3,224 Mil.
Gross Profit was 313.7 + 299.5 + 311.1 + 368.3 = $1,293 Mil.
Total Current Assets was $2,382 Mil.
Total Assets was $6,726 Mil.
Property, Plant and Equipment(Net PPE) was $454 Mil.
Depreciation, Depletion and Amortization(DDA) was $155 Mil.
Selling, General, & Admin. Expense(SGA) was $673 Mil.
Total Current Liabilities was $831 Mil.
Long-Term Debt & Capital Lease Obligation was $1,836 Mil.
Net Income was 360.7 + 10.7 + 105 + 111 = $587 Mil.
Non Operating Income was -1.1 + 11.4 + -1.2 + -0.9 = $8 Mil.
Cash Flow from Operations was 60.2 + 224.6 + 197.7 + 130.8 = $613 Mil.
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Total Receivables was $641 Mil.
Revenue was 732.1 + 690.5 + 715 + 803 = $2,941 Mil.
Gross Profit was 290.9 + 276.5 + 289.1 + 331.9 = $1,188 Mil.
Total Current Assets was $1,374 Mil.
Total Assets was $6,170 Mil.
Property, Plant and Equipment(Net PPE) was $505 Mil.
Depreciation, Depletion and Amortization(DDA) was $117 Mil.
Selling, General, & Admin. Expense(SGA) was $603 Mil.
Total Current Liabilities was $690 Mil.
Long-Term Debt & Capital Lease Obligation was $1,840 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) |
| = | (607.1 / 3223.8) | / | (640.6 / 2940.6) |
| = | 0.188318 | / | 0.217847 |
| | = | 0.8645 |
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) |
| = | (1188.4 / 2940.6) | / | (1292.6 / 3223.8) |
| = | 0.404135 | / | 0.400955 |
| | = | 1.0079 |
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 - (2382.4 + 454) / 6726.3) | / | (1 - (1373.9 + 505.1) / 6169.7) |
| = | 0.578312 | / | 0.695447 |
| | = | 0.8316 |
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 |
| = | 3223.8 | / | 2940.6 |
| | = | 1.0963 |
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)) |
| = | (117.3 / (117.3 + 505.1)) | / | (155.2 / (155.2 + 454)) |
| = | 0.188464 | / | 0.25476 |
| | = | 0.7398 |
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) |
| = | (672.8 / 3223.8) | / | (602.8 / 2940.6) |
| = | 0.208698 | / | 0.204992 |
| | = | 1.0181 |
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) |
| = | ((1835.9 + 831.3) / 6726.3) | / | ((1840.3 + 690.3) / 6169.7) |
| = | 0.396533 | / | 0.410166 |
| | = | 0.9668 |
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 |
| = | (587.4 - 8.2 | - | 613.3) | / | 6726.3 |
| | = | -0.00507 |
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.
nVent Electric has a M-score of -2.63 suggests that the company is unlikely to be a manipulator.
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