Archer Beneish M-Score Historical Data
The historical data trend for Archer'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.
Archer Beneish M-Score Chart
|
Archer Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.88 |
-3.23 |
-2.77 |
-2.37 |
-2.65 |
|
Archer Quarterly Data
|
|
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.36 |
-2.65 |
-2.55 |
-2.79 |
-2.78 |
Competitive Comparison of Archer's Beneish M-Score
For the Oil & Gas Drilling subindustry, Archer'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.
Archer's Beneish M-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Archer's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Archer's Beneish M-Score falls into.
Archer 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 Archer 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 * 0.9555 | + | 0.528 * 1.0035 | + | 0.404 * 1.0441 | + | 0.892 * 1.125 | + | 0.115 * 0.8656 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8322 | + | 4.679 * -0.086601 | - | 0.327 * 0.9968 |
| = | -2.78 |
* 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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was kr1,999 Mil.
Revenue was 3559.633 + 3281.22 + 3271.71 + 3218.622 = kr13,331 Mil.
Gross Profit was 3394.983 + 3117.743 + 3131.631 + 3075.15 = kr12,720 Mil.
Total Current Assets was kr4,004 Mil.
Total Assets was kr9,881 Mil.
Property, Plant and Equipment(Net PPE) was kr3,571 Mil.
Depreciation, Depletion and Amortization(DDA) was kr611 Mil.
Selling, General, & Admin. Expense(SGA) was kr459 Mil.
Total Current Liabilities was kr3,270 Mil.
Long-Term Debt & Capital Lease Obligation was kr4,511 Mil.
Net Income was 26.556 + 10.615 + -114.611 + 89.67 = kr12 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = kr0 Mil.
Cash Flow from Operations was 208.203 + 260.077 + 151.753 + 247.911 = kr868 Mil.
|
Total Receivables was kr1,860 Mil.
Revenue was 3246.367 + 3183.858 + 2807.911 + 2611.31 = kr11,849 Mil.
Gross Profit was 3101.583 + 3055.381 + 2694.162 + 2493.737 = kr11,345 Mil.
Total Current Assets was kr3,844 Mil.
Total Assets was kr9,442 Mil.
Property, Plant and Equipment(Net PPE) was kr3,488 Mil.
Depreciation, Depletion and Amortization(DDA) was kr505 Mil.
Selling, General, & Admin. Expense(SGA) was kr490 Mil.
Total Current Liabilities was kr2,622 Mil.
Long-Term Debt & Capital Lease Obligation was kr4,837 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) |
| = | (1999.173 / 13331.185) | / | (1859.663 / 11849.446) |
| = | 0.149962 | / | 0.156941 |
| | = | 0.9555 |
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) |
| = | (11344.863 / 11849.446) | / | (12719.507 / 13331.185) |
| = | 0.957417 | / | 0.954117 |
| | = | 1.0035 |
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 - (4003.658 + 3571.318) / 9881.143) | / | (1 - (3843.732 + 3487.672) / 9442.026) |
| = | 0.233391 | / | 0.223535 |
| | = | 1.0441 |
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 |
| = | 13331.185 | / | 11849.446 |
| | = | 1.125 |
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)) |
| = | (504.582 / (504.582 + 3487.672)) | / | (610.617 / (610.617 + 3571.318)) |
| = | 0.12639 | / | 0.146013 |
| | = | 0.8656 |
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) |
| = | (458.85 / 13331.185) | / | (490.072 / 11849.446) |
| = | 0.034419 | / | 0.041358 |
| | = | 0.8322 |
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) |
| = | ((4511.418 + 3269.636) / 9881.143) | / | ((4836.84 + 2622.189) / 9442.026) |
| = | 0.787465 | / | 0.789982 |
| | = | 0.9968 |
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 |
| = | (12.23 - 0 | - | 867.944) | / | 9881.143 |
| | = | -0.086601 |
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.
Archer has a M-score of -2.78 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
OSTO:ARCHERO has been successfully added to your