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US Silica Holdings Beneish M-Score

: -2.71 (As of Today)
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The zones of discrimination for M-Score is as such:

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.

Good Sign:

Beneish M-Score -2.71 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for US Silica Holdings's Beneish M-Score or its related term are showing as below:

SLCA' s Beneish M-Score Range Over the Past 10 Years
Min: -3.02   Med: -2.42   Max: -0.86
Current: -2.71

During the past 13 years, the highest Beneish M-Score of US Silica Holdings was -0.86. The lowest was -3.02. And the median was -2.42.


US Silica Holdings Beneish M-Score Historical Data

The historical data trend for US Silica Holdings'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.

* Premium members only.

US Silica Holdings Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Beneish M-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -1.71 -3.01 -2.87 -2.29 -2.78

US Silica Holdings Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
Beneish M-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.37 -2.93 -2.78 -2.73 -2.71

Competitive Comparison

For the Oil & Gas Equipment & Services subindustry, US Silica Holdings'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.

   

US Silica Holdings Beneish M-Score Distribution

For the Oil & Gas industry and Energy sector, US Silica Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where US Silica Holdings's Beneish M-Score falls into.



US Silica Holdings 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 US Silica Holdings 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 * 0.7736+0.528 * 1.3508+0.404 * 0.9646+0.892 * 1.3036+0.115 * 1.0085
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9935+4.679 * -0.0975-0.327 * 1.0181
=-2.71

* 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 (Jun22) TTM:Last Year (Jun21) TTM:
Total Receivables was $225 Mil.
Revenue was 388.513 + 304.887 + 284.864 + 267.298 = $1,246 Mil.
Gross Profit was 119.617 + 78.018 + 67.273 + 59.85 = $325 Mil.
Total Current Assets was $684 Mil.
Total Assets was $2,279 Mil.
Property, Plant and Equipment(Net PPE) was $1,255 Mil.
Depreciation, Depletion and Amortization(DDA) was $151 Mil.
Selling, General, & Admin. Expense(SGA) was $141 Mil.
Total Current Liabilities was $248 Mil.
Long-Term Debt & Capital Lease Obligation was $1,261 Mil.
Net Income was 22.908 + -8.393 + -19.016 + -19.995 = $-24 Mil.
Non Operating Income was 2.099 + 1.531 + 0.994 + 2.569 = $7 Mil.
Cash Flow from Operations was 88.102 + 15.079 + 12.565 + 74.829 = $191 Mil.
Total Receivables was $223 Mil.
Revenue was 317.301 + 234.416 + 227.277 + 176.472 = $955 Mil.
Gross Profit was 124.346 + 57.427 + 85.859 + 68.88 = $337 Mil.
Total Current Assets was $569 Mil.
Total Assets was $2,255 Mil.
Property, Plant and Equipment(Net PPE) was $1,337 Mil.
Depreciation, Depletion and Amortization(DDA) was $163 Mil.
Selling, General, & Admin. Expense(SGA) was $109 Mil.
Total Current Liabilities was $200 Mil.
Long-Term Debt & Capital Lease Obligation was $1,267 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)
=(225.11 / 1245.562) / (223.229 / 955.466)
=0.18072966 / 0.23363364
=0.7736

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)
=(336.512 / 955.466) / (324.758 / 1245.562)
=0.35219673 / 0.2607321
=1.3508

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 - (684.253 + 1254.876) / 2279.111) / (1 - (569.19 + 1337.314) / 2255.278)
=0.14917308 / 0.1546479
=0.9646

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
=1245.562 / 955.466
=1.3036

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))
=(162.546 / (162.546 + 1337.314)) / (151.082 / (151.082 + 1254.876))
=0.10837411 / 0.1074584
=1.0085

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)
=(140.822 / 1245.562) / (108.726 / 955.466)
=0.113059 / 0.11379369
=0.9935

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)
=((1261.488 + 248.328) / 2279.111) / ((1267.477 + 199.974) / 2255.278)
=0.6624583 / 0.65067411
=1.0181

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
=(-24.496 - 7.193 - 190.575) / 2279.111
=-0.0975

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.

US Silica Holdings has a M-score of -2.71 suggests that the company is unlikely to be a manipulator.


US Silica Holdings Beneish M-Score Related Terms

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US Silica Holdings Business Description

US Silica Holdings logo
Traded in Other Exchanges
Address
24275 Katy Freeway, Suite 600, Katy, TX, USA, 77494
US Silica Holdings Inc is one of the leading suppliers of sand used in hydraulic fracturing of oil and gas wells. The company delivers sand in most major basins via its extensive logistics network and has an emerging last-mile logistics capability to deliver sand direct to the well site. Its operating segment includes Oil and Gas Proppants and Industrial and Specialty Products. The company generates maximum revenue from the Oil and Gas Proppants segment.
Executives
Rogers Sandra director 24275 KATY FREEWAY SUITE 600 KATY TX 77494
Ussery James Derek officer: President Oil and Gas 1301 MCKINNEY ST STE 1800 HOUSTON TX 77010
Crowder Donna Lynnette officer: SVP and CHRO 24275 KATY FREEWAY SUITE 600 KATY TX 77494
Russell Stacy officer: SVP General Counsel 24275 KATY FREEWAY SUITE 600 KATY TX 77494
Lind Bonnie Cruickshank director 3460 PRESTON RIDGE ROAD ALPHARETTA GA 30005
Carusona Zach officer: President Specialty Minerals 24275 KATY FREEWAY SUITE 600 KATY TX 77494
Miers Daniel Ross officer: President SandBox Logistics 1301 MCKINNEY ST STE 1800 HOUSTON TX 77010
Macan William Andrew officer: See Remarks 24275 KATY FREEWAY, SUITE 600 KATY TX 77494
Stice J Michael director 525 CENTRAL PARK DRIVE OKLAHOMA CITY OK 73105
Bernard Peter Clark director 8490 PROGRESS DRIVE SUITE 300 FREDERICK MD 21701
Shaver Charles W director C/O US SILICA 8490 PROGRESS DR. STE 300 FREDERICK MD 21701
Smith Billy Ray officer: SVP & President, Oil & Gas 8490 PROGRESS DRIVE, SUITE 300 FREDERICK MD 21701
Duren Diane K director PO BOX 45308 OMAHA NE 68145
Kacal William Jennings director 2112 INWOOD DRIVE HOUSTON TX 77019
Merril Donald A officer: EVP & Chief Financial Officer 1293 SOUTH MAIN STREET AKRON OH 44301

US Silica Holdings Headlines

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