Vertiv Holdings Co Beneish M-Score Historical Data
The historical data trend for Vertiv Holdings Co'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.
Vertiv Holdings Co Beneish M-Score Chart
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Vertiv Holdings Co Annual Data
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Dec16 |
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Dec19 |
Dec20 |
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Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
-2.20 |
-2.21 |
-2.59 |
-2.61 |
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Vertiv Holdings Co Quarterly Data
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Jun20 |
Sep20 |
Dec20 |
Mar21 |
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Mar22 |
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Mar24 |
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Mar25 |
| Beneish M-Score |
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-2.66 |
-2.68 |
-2.60 |
-2.61 |
-2.67 |
Competitive Comparison of Vertiv Holdings Co's Beneish M-Score
For the Electrical Equipment & Parts subindustry, Vertiv Holdings Co'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.
Vertiv Holdings Co's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Vertiv Holdings Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Vertiv Holdings Co's Beneish M-Score falls into.
Vertiv Holdings Co 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 Vertiv Holdings Co 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 * 0.9147 | + | 0.528 * 0.9746 | + | 0.404 * 0.788 | + | 0.892 * 1.2045 | + | 0.115 * 1.0687 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8861 | + | 4.679 * -0.055983 | - | 0.327 * 0.8701 |
| = | -2.67 |
* 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 $2,311 Mil.
Revenue was 2036 + 2346.4 + 2073.5 + 1952.8 = $8,409 Mil.
Gross Profit was 686.5 + 870.2 + 756.4 + 741.2 = $3,054 Mil.
Total Current Assets was $5,462 Mil.
Total Assets was $9,451 Mil.
Property, Plant and Equipment(Net PPE) was $841 Mil.
Depreciation, Depletion and Amortization(DDA) was $280 Mil.
Selling, General, & Admin. Expense(SGA) was $1,406 Mil.
Total Current Liabilities was $3,184 Mil.
Long-Term Debt & Capital Lease Obligation was $3,076 Mil.
Net Income was 164.5 + 147 + 176.6 + 178.1 = $666 Mil.
Non Operating Income was -3.7 + -183.1 + -78.8 + -24.2 = $-290 Mil.
Cash Flow from Operations was 303.3 + 425.2 + 378.2 + 378.4 = $1,485 Mil.
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Total Receivables was $2,097 Mil.
Revenue was 1639.1 + 1865.4 + 1742.6 + 1734.1 = $6,981 Mil.
Gross Profit was 566.4 + 683.4 + 627.6 + 594 = $2,471 Mil.
Total Current Assets was $3,632 Mil.
Total Assets was $7,591 Mil.
Property, Plant and Equipment(Net PPE) was $750 Mil.
Depreciation, Depletion and Amortization(DDA) was $273 Mil.
Selling, General, & Admin. Expense(SGA) was $1,318 Mil.
Total Current Liabilities was $2,710 Mil.
Long-Term Debt & Capital Lease Obligation was $3,069 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) |
| = | (2310.5 / 8408.7) | / | (2097.1 / 6981.2) |
| = | 0.274775 | / | 0.300392 |
| | = | 0.9147 |
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) |
| = | (2471.4 / 6981.2) | / | (3054.3 / 8408.7) |
| = | 0.354008 | / | 0.363231 |
| | = | 0.9746 |
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 - (5461.7 + 841.1) / 9451.1) | / | (1 - (3631.8 + 750.4) / 7591.4) |
| = | 0.333115 | / | 0.422742 |
| | = | 0.788 |
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 |
| = | 8408.7 | / | 6981.2 |
| | = | 1.2045 |
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)) |
| = | (273.1 / (273.1 + 750.4)) | / | (279.9 / (279.9 + 841.1)) |
| = | 0.26683 | / | 0.249688 |
| | = | 1.0687 |
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) |
| = | (1406.3 / 8408.7) | / | (1317.6 / 6981.2) |
| = | 0.167243 | / | 0.188735 |
| | = | 0.8861 |
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) |
| = | ((3076.3 + 3184) / 9451.1) | / | ((3069.4 + 2709.9) / 7591.4) |
| = | 0.662389 | / | 0.761296 |
| | = | 0.8701 |
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 |
| = | (666.2 - -289.8 | - | 1485.1) | / | 9451.1 |
| | = | -0.055983 |
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.
Vertiv Holdings Co has a M-score of -2.67 suggests that the company is unlikely to be a manipulator.
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