Genesis Energy Beneish M-Score Historical Data
The historical data trend for Genesis Energy'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.
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Genesis Energy Annual Data
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Trend |
Jun14 |
Jun15 |
Jun16 |
Jun17 |
Jun18 |
Jun19 |
Jun20 |
Jun21 |
Jun22 |
| Beneish M-Score |
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|
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-2.75 |
-2.52 |
-2.90 |
- |
- |
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Genesis Energy Semi-Annual Data
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Jun14 |
Dec14 |
Jun15 |
Dec15 |
Jun16 |
Dec16 |
Jun17 |
Dec17 |
Jun18 |
Dec18 |
Jun19 |
Dec19 |
Jun20 |
Dec20 |
Jun21 |
Dec21 |
Jun22 |
Dec22 |
| Beneish M-Score |
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|
|
|
|
|
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- |
- |
- |
- |
- |
Competitive Comparison
For the Utilities - Independent Power Producers subindustry, Genesis Energy'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.
Genesis Energy Beneish M-Score Distribution
For the Utilities - Independent Power Producers industry and Utilities sector, Genesis Energy's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Genesis Energy's Beneish M-Score falls in comparison to its industry or sector. The grey bar indicates the Beneish M-Score's extreme value range as defined by GuruFocus.
Genesis Energy 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 Genesis Energy 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 * | + | 0.528 * | + | 0.404 * | + | 0.892 * | + | 0.115 * |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * | + | 4.679 * | - | 0.327 * |
| = | |
* 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 NZ$243 Mil.
Revenue was NZ$2,830 Mil.
Gross Profit was NZ$2,830 Mil.
Total Current Assets was NZ$732 Mil.
Total Assets was NZ$5,272 Mil.
Property, Plant and Equipment(Net PPE) was NZ$4,026 Mil.
Depreciation, Depletion and Amortization(DDA) was NZ$216 Mil.
Selling, General, & Admin. Expense(SGA) was NZ$0 Mil.
Total Current Liabilities was NZ$695 Mil.
Long-Term Debt & Capital Lease Obligation was NZ$1,201 Mil.
Net Income was NZ$222 Mil.
Gross Profit was NZ$154 Mil.
Cash Flow from Operations was NZ$262 Mil.
|
Total Receivables was NZ$339 Mil.
Revenue was NZ$3,216 Mil.
Gross Profit was NZ$3,216 Mil.
Total Current Assets was NZ$928 Mil.
Total Assets was NZ$5,242 Mil.
Property, Plant and Equipment(Net PPE) was NZ$3,779 Mil.
Depreciation, Depletion and Amortization(DDA) was NZ$197 Mil.
Selling, General, & Admin. Expense(SGA) was NZ$0 Mil.
Total Current Liabilities was NZ$1,182 Mil.
Long-Term Debt & Capital Lease Obligation was NZ$1,048 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) |
| = | (243.1 / 2829.7) | / | (339.4 / 3216.4) |
| = | 0.08591017 | / | 0.1055217 |
| | = | |
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) |
| = | (3216.4 / 3216.4) | / | (2829.7 / 2829.7) |
| = | 1 | / | 1 |
| | = | |
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 - (731.6 + 4025.6) / 5272.4) | / | (1 - (927.5 + 3779.3) / 5241.9) |
| = | 0.09771641 | / | 0.10208131 |
| | = | |
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 |
| = | 2829.7 | / | 3216.4 |
| | = | |
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)) |
| = | (196.9 / (196.9 + 3779.3)) | / | (215.8 / (215.8 + 4025.6)) |
| = | 0.04951964 | / | 0.05087943 |
| | = | |
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) |
| = | (0 / 2829.7) | / | (0 / 3216.4) |
| = | 0 | / | 0 |
| | = | |
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) |
| = | ((1201.3 + 694.7) / 5272.4) | / | ((1048.1 + 1181.6) / 5241.9) |
| = | 0.35960853 | / | 0.42536103 |
| | = | |
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 |
| = | (221.9 - 153.7 | - | 261.7) | / | 5272.4 |
| | = | -0.0367 |
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.
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