Verizon Communications Beneish M-Score Historical Data
The historical data trend for Verizon Communications'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.
Verizon Communications Beneish M-Score Chart
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Verizon Communications Annual Data
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Dec24 |
| Beneish M-Score |
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-2.93 |
-2.58 |
-2.65 |
-2.73 |
-2.69 |
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Verizon Communications Quarterly Data
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Sep20 |
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Jun25 |
| Beneish M-Score |
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-2.63 |
-2.65 |
-2.69 |
-2.70 |
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Competitive Comparison of Verizon Communications's Beneish M-Score
For the Telecom Services subindustry, Verizon Communications'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.
Verizon Communications's Beneish M-Score Distribution in the Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Verizon Communications's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Verizon Communications's Beneish M-Score falls into.
Verizon Communications 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 Verizon Communications 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 * 1.0054 | + | 0.528 * 1.0077 | + | 0.404 * 1.0047 | + | 0.892 * 1.0205 | + | 0.115 * 0.9858 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.994 | + | 4.679 * -0.051591 | - | 0.327 * 0.9785 |
| = | -2.69 |
* 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 (Jun25) TTM: | Last Year (Jun24) TTM: |
Total Receivables was $26,275 Mil.
Revenue was 34504 + 33485 + 35681 + 33330 = $137,000 Mil.
Gross Profit was 20619 + 20429 + 20167 + 20090 = $81,305 Mil.
Total Current Assets was $38,846 Mil.
Total Assets was $383,285 Mil.
Property, Plant and Equipment(Net PPE) was $132,018 Mil.
Depreciation, Depletion and Amortization(DDA) was $18,176 Mil.
Selling, General, & Admin. Expense(SGA) was $33,632 Mil.
Total Current Liabilities was $60,952 Mil.
Long-Term Debt & Capital Lease Obligation was $143,093 Mil.
Net Income was 5003 + 4879 + 5005 + 3306 = $18,193 Mil.
Non Operating Income was 76 + 127 + 713 + -49 = $867 Mil.
Cash Flow from Operations was 8975 + 7782 + 10432 + 9911 = $37,100 Mil.
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Total Receivables was $25,607 Mil.
Revenue was 32796 + 32981 + 35130 + 33336 = $134,243 Mil.
Gross Profit was 20325 + 20109 + 19948 + 19899 = $80,281 Mil.
Total Current Assets was $38,056 Mil.
Total Assets was $379,146 Mil.
Property, Plant and Equipment(Net PPE) was $131,954 Mil.
Depreciation, Depletion and Amortization(DDA) was $17,875 Mil.
Selling, General, & Admin. Expense(SGA) was $33,153 Mil.
Total Current Liabilities was $60,806 Mil.
Long-Term Debt & Capital Lease Obligation was $145,478 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) |
| = | (26275 / 137000) | / | (25607 / 134243) |
| = | 0.191788 | / | 0.190751 |
| | = | 1.0054 |
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) |
| = | (80281 / 134243) | / | (81305 / 137000) |
| = | 0.598027 | / | 0.593467 |
| | = | 1.0077 |
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 - (38846 + 132018) / 383285) | / | (1 - (38056 + 131954) / 379146) |
| = | 0.554212 | / | 0.551598 |
| | = | 1.0047 |
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 |
| = | 137000 | / | 134243 |
| | = | 1.0205 |
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)) |
| = | (17875 / (17875 + 131954)) | / | (18176 / (18176 + 132018)) |
| = | 0.119303 | / | 0.121017 |
| | = | 0.9858 |
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) |
| = | (33632 / 137000) | / | (33153 / 134243) |
| = | 0.245489 | / | 0.246963 |
| | = | 0.994 |
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) |
| = | ((143093 + 60952) / 383285) | / | ((145478 + 60806) / 379146) |
| = | 0.532358 | / | 0.544075 |
| | = | 0.9785 |
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 |
| = | (18193 - 867 | - | 37100) | / | 383285 |
| | = | -0.051591 |
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.
Verizon Communications has a M-score of -2.69 suggests that the company is unlikely to be a manipulator.
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