Ryder System Beneish M-Score Historical Data
The historical data trend for Ryder System'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.
Ryder System Beneish M-Score Chart
|
Ryder System Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-3.06 |
-3.30 |
-2.96 |
-3.00 |
-2.98 |
|
Ryder System Quarterly Data
|
|
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-3.02 |
-3.24 |
-3.14 |
-2.98 |
-3.04 |
Competitive Comparison of Ryder System's Beneish M-Score
For the Rental & Leasing Services subindustry, Ryder System'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.
Ryder System's Beneish M-Score Distribution in the Business Services Industry
For the Business Services industry and Industrials sector, Ryder System's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Ryder System's Beneish M-Score falls into.
Ryder System 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 Ryder System 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 * 1.0947 | + | 0.528 * 0.9936 | + | 0.404 * 0.826 | + | 0.892 * 0.9851 | + | 0.115 * 1.2013 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0151 | + | 4.679 * -0.12117 | - | 0.327 * 1.0526 |
| = | -3.04 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was $1,814 Mil.
Revenue was 3098 + 3023 + 2924 + 2884 = $11,929 Mil.
Gross Profit was 565 + 590 + 597 + 590 = $2,342 Mil.
Total Current Assets was $2,406 Mil.
Total Assets was $16,481 Mil.
Property, Plant and Equipment(Net PPE) was $11,218 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,804 Mil.
Selling, General, & Admin. Expense(SGA) was $1,436 Mil.
Total Current Liabilities was $2,918 Mil.
Long-Term Debt & Capital Lease Obligation was $7,731 Mil.
Net Income was 85 + 124 + 161 + -18 = $352 Mil.
Non Operating Income was 19 + 22 + 38 + -131 = $-52 Mil.
Cash Flow from Operations was 526 + 511 + 621 + 743 = $2,401 Mil.
|
Total Receivables was $1,682 Mil.
Revenue was 2952 + 3088 + 3035 + 3034 = $12,109 Mil.
Gross Profit was 522 + 598 + 618 + 624 = $2,362 Mil.
Total Current Assets was $2,260 Mil.
Total Assets was $14,543 Mil.
Property, Plant and Equipment(Net PPE) was $9,231 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,843 Mil.
Selling, General, & Admin. Expense(SGA) was $1,436 Mil.
Total Current Liabilities was $3,755 Mil.
Long-Term Debt & Capital Lease Obligation was $5,172 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) |
| = | (1814 / 11929) | / | (1682 / 12109) |
| = | 0.152066 | / | 0.138905 |
| | = | 1.0947 |
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) |
| = | (2362 / 12109) | / | (2342 / 11929) |
| = | 0.195062 | / | 0.196328 |
| | = | 0.9936 |
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 - (2406 + 11218) / 16481) | / | (1 - (2260 + 9231) / 14543) |
| = | 0.173351 | / | 0.20986 |
| | = | 0.826 |
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 |
| = | 11929 | / | 12109 |
| | = | 0.9851 |
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)) |
| = | (1843 / (1843 + 9231)) | / | (1804 / (1804 + 11218)) |
| = | 0.166426 | / | 0.138535 |
| | = | 1.2013 |
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) |
| = | (1436 / 11929) | / | (1436 / 12109) |
| = | 0.120379 | / | 0.118589 |
| | = | 1.0151 |
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) |
| = | ((7731 + 2918) / 16481) | / | ((5172 + 3755) / 14543) |
| = | 0.646138 | / | 0.613835 |
| | = | 1.0526 |
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 |
| = | (352 - -52 | - | 2401) | / | 16481 |
| | = | -0.12117 |
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.
Ryder System has a M-score of -3.04 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
R has been successfully added to your