Whirlpool Beneish M-Score Historical Data
The historical data trend for Whirlpool'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.
Whirlpool Beneish M-Score Chart
|
Whirlpool Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.52 |
-2.19 |
-2.60 |
-2.92 |
-2.58 |
|
Whirlpool Quarterly Data
|
|
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.92 |
-2.95 |
-2.96 |
-2.77 |
-2.58 |
Competitive Comparison of Whirlpool's Beneish M-Score
For the Furnishings, Fixtures & Appliances subindustry, Whirlpool'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.
Whirlpool's Beneish M-Score Distribution in the Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Whirlpool's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Whirlpool's Beneish M-Score falls into.
Whirlpool 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 Whirlpool 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 * 0.9969 | + | 0.528 * 0.9562 | + | 0.404 * 1.0157 | + | 0.892 * 0.9864 | + | 0.115 * 1.3351 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1102 | + | 4.679 * -0.01808 | - | 0.327 * 0.996 |
| = | -2.58 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $1,529 Mil.
Revenue was 5088 + 4926 + 4792 + 4649 = $19,455 Mil.
Gross Profit was 792 + 799 + 816 + 763 = $3,170 Mil.
Total Current Assets was $6,207 Mil.
Total Assets was $17,312 Mil.
Property, Plant and Equipment(Net PPE) was $2,955 Mil.
Depreciation, Depletion and Amortization(DDA) was $361 Mil.
Selling, General, & Admin. Expense(SGA) was $1,993 Mil.
Total Current Liabilities was $6,948 Mil.
Long-Term Debt & Capital Lease Obligation was $7,026 Mil.
Net Income was 491 + 83 + 85 + -179 = $480 Mil.
Non Operating Income was 178 + -51 + -27 + -222 = $-122 Mil.
Cash Flow from Operations was 1237 + 48 + 107 + -477 = $915 Mil.
|
Total Receivables was $1,555 Mil.
Revenue was 4923 + 4784 + 5097 + 4920 = $19,724 Mil.
Gross Profit was 645 + 680 + 897 + 851 = $3,073 Mil.
Total Current Assets was $6,394 Mil.
Total Assets was $17,124 Mil.
Property, Plant and Equipment(Net PPE) was $2,793 Mil.
Depreciation, Depletion and Amortization(DDA) was $475 Mil.
Selling, General, & Admin. Expense(SGA) was $1,820 Mil.
Total Current Liabilities was $5,931 Mil.
Long-Term Debt & Capital Lease Obligation was $7,947 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) |
| = | (1529 / 19455) | / | (1555 / 19724) |
| = | 0.078592 | / | 0.078838 |
| | = | 0.9969 |
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) |
| = | (3073 / 19724) | / | (3170 / 19455) |
| = | 0.1558 | / | 0.16294 |
| | = | 0.9562 |
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 - (6207 + 2955) / 17312) | / | (1 - (6394 + 2793) / 17124) |
| = | 0.470772 | / | 0.463502 |
| | = | 1.0157 |
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 |
| = | 19455 | / | 19724 |
| | = | 0.9864 |
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)) |
| = | (475 / (475 + 2793)) | / | (361 / (361 + 2955)) |
| = | 0.145349 | / | 0.108866 |
| | = | 1.3351 |
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) |
| = | (1993 / 19455) | / | (1820 / 19724) |
| = | 0.102442 | / | 0.092273 |
| | = | 1.1102 |
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) |
| = | ((7026 + 6948) / 17312) | / | ((7947 + 5931) / 17124) |
| = | 0.807186 | / | 0.810441 |
| | = | 0.996 |
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 |
| = | (480 - -122 | - | 915) | / | 17312 |
| | = | -0.01808 |
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.
Whirlpool has a M-score of -2.58 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
WHR has been successfully added to your