WESCO International Beneish M-Score Historical Data
The historical data trend for WESCO International'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.
WESCO International Beneish M-Score Chart
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WESCO International Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-1.89 |
-2.20 |
-2.07 |
-2.36 |
-2.67 |
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WESCO International Quarterly Data
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Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
Mar25 |
| Beneish M-Score |
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-2.77 |
-2.60 |
-2.60 |
-2.67 |
-2.37 |
Competitive Comparison of WESCO International's Beneish M-Score
For the Industrial Distribution subindustry, WESCO International'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.
WESCO International's Beneish M-Score Distribution in the Industrial Distribution Industry
For the Industrial Distribution industry and Industrials sector, WESCO International's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where WESCO International's Beneish M-Score falls into.
WESCO International 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 WESCO International 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 * 1.0502 | + | 0.528 * 0.9972 | + | 0.404 * 1.0342 | + | 0.892 * 0.982 | + | 0.115 * 1.0007 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0302 | + | 4.679 * 0.015701 | - | 0.327 * 0.9979 |
| = | -2.37 |
* 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 $3,994 Mil.
Revenue was 5343.7 + 5499.7 + 5489.4 + 5479.7 = $21,813 Mil.
Gross Profit was 1125.6 + 1164 + 1212.7 + 1198 = $4,700 Mil.
Total Current Assets was $8,687 Mil.
Total Assets was $15,515 Mil.
Property, Plant and Equipment(Net PPE) was $1,222 Mil.
Depreciation, Depletion and Amortization(DDA) was $186 Mil.
Selling, General, & Admin. Expense(SGA) was $3,293 Mil.
Total Current Liabilities was $4,036 Mil.
Long-Term Debt & Capital Lease Obligation was $5,792 Mil.
Net Income was 118.4 + 165.4 + 204.3 + 232.1 = $720 Mil.
Non Operating Income was -1.3 + -6.6 + 24.4 + 77.2 = $94 Mil.
Cash Flow from Operations was 28 + 276.6 + 302.1 + -223.8 = $383 Mil.
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Total Receivables was $3,873 Mil.
Revenue was 5350 + 5473.4 + 5644.4 + 5745.5 = $22,213 Mil.
Gross Profit was 1137.9 + 1170.8 + 1222 + 1242.4 = $4,773 Mil.
Total Current Assets was $8,913 Mil.
Total Assets was $15,539 Mil.
Property, Plant and Equipment(Net PPE) was $1,196 Mil.
Depreciation, Depletion and Amortization(DDA) was $182 Mil.
Selling, General, & Admin. Expense(SGA) was $3,255 Mil.
Total Current Liabilities was $4,036 Mil.
Long-Term Debt & Capital Lease Obligation was $5,827 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) |
| = | (3994 / 21812.5) | / | (3872.9 / 22213.3) |
| = | 0.183106 | / | 0.174351 |
| | = | 1.0502 |
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) |
| = | (4773.1 / 22213.3) | / | (4700.3 / 21812.5) |
| = | 0.214876 | / | 0.215487 |
| | = | 0.9972 |
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 - (8686.8 + 1221.6) / 15515.1) | / | (1 - (8912.8 + 1196.4) / 15539) |
| = | 0.361371 | / | 0.34943 |
| | = | 1.0342 |
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 |
| = | 21812.5 | / | 22213.3 |
| | = | 0.982 |
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)) |
| = | (182.4 / (182.4 + 1196.4)) | / | (186.1 / (186.1 + 1221.6)) |
| = | 0.132289 | / | 0.132201 |
| | = | 1.0007 |
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) |
| = | (3292.8 / 21812.5) | / | (3254.9 / 22213.3) |
| = | 0.150959 | / | 0.146529 |
| | = | 1.0302 |
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) |
| = | ((5792.3 + 4035.5) / 15515.1) | / | ((5827.3 + 4035.9) / 15539) |
| = | 0.633435 | / | 0.634738 |
| | = | 0.9979 |
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 |
| = | (720.2 - 93.7 | - | 382.9) | / | 15515.1 |
| | = | 0.015701 |
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.
WESCO International has a M-score of -2.37 suggests that the company is unlikely to be a manipulator.
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