Par Pacific Holdings Beneish M-Score Historical Data
The historical data trend for Par Pacific Holdings'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.
Par Pacific Holdings Beneish M-Score Chart
|
Par Pacific Holdings Annual Data
|
|
Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.46 |
-2.42 |
-2.53 |
-1.75 |
-2.21 |
|
Par Pacific Holdings Quarterly Data
|
|
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-1.75 |
-1.48 |
-1.81 |
-2.01 |
-2.21 |
Competitive Comparison of Par Pacific Holdings's Beneish M-Score
For the Oil & Gas Refining & Marketing subindustry, Par Pacific Holdings'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.
Par Pacific Holdings's Beneish M-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Par Pacific Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Par Pacific Holdings's Beneish M-Score falls into.
Par Pacific Holdings 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 Par Pacific Holdings 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 * 1.1191 | + | 0.528 * 1.6639 | + | 0.404 * 1.1128 | + | 0.892 * 0.9687 | + | 0.115 * 0.9981 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.2286 | + | 4.679 * -0.032598 | - | 0.327 * 1.0548 |
| = | -2.21 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was $398 Mil.
Revenue was 1832.221 + 2143.933 + 2017.468 + 1980.835 = $7,974 Mil.
Gross Profit was 119.037 + 206.854 + 215.127 + 200.701 = $742 Mil.
Total Current Assets was $1,772 Mil.
Total Assets was $3,829 Mil.
Property, Plant and Equipment(Net PPE) was $1,584 Mil.
Depreciation, Depletion and Amortization(DDA) was $132 Mil.
Selling, General, & Admin. Expense(SGA) was $109 Mil.
Total Current Liabilities was $1,096 Mil.
Long-Term Debt & Capital Lease Obligation was $1,482 Mil.
Net Income was -55.695 + 7.486 + 18.638 + -3.751 = $-33 Mil.
Non Operating Income was -4.936 + 3.948 + 0.931 + 7.787 = $8 Mil.
Cash Flow from Operations was -15.466 + 78.487 + -4.676 + 25.431 = $84 Mil.
|
Total Receivables was $367 Mil.
Revenue was 2183.511 + 2579.308 + 1783.927 + 1685.209 = $8,232 Mil.
Gross Profit was 351.67 + 369.612 + 180.905 + 371.829 = $1,274 Mil.
Total Current Assets was $1,989 Mil.
Total Assets was $3,864 Mil.
Property, Plant and Equipment(Net PPE) was $1,446 Mil.
Depreciation, Depletion and Amortization(DDA) was $120 Mil.
Selling, General, & Admin. Expense(SGA) was $91 Mil.
Total Current Liabilities was $1,525 Mil.
Long-Term Debt & Capital Lease Obligation was $942 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) |
| = | (398.131 / 7974.457) | / | (367.249 / 8231.955) |
| = | 0.049926 | / | 0.044613 |
| | = | 1.1191 |
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) |
| = | (1274.016 / 8231.955) | / | (741.719 / 7974.457) |
| = | 0.154765 | / | 0.093012 |
| | = | 1.6639 |
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 - (1772.243 + 1584.429) / 3829.371) | / | (1 - (1989.495 + 1445.842) / 3863.95) |
| = | 0.12344 | / | 0.110926 |
| | = | 1.1128 |
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 |
| = | 7974.457 | / | 8231.955 |
| | = | 0.9687 |
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)) |
| = | (119.83 / (119.83 + 1445.842)) | / | (131.59 / (131.59 + 1584.429)) |
| = | 0.076536 | / | 0.076683 |
| | = | 0.9981 |
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) |
| = | (108.844 / 7974.457) | / | (91.447 / 8231.955) |
| = | 0.013649 | / | 0.011109 |
| | = | 1.2286 |
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) |
| = | ((1481.864 + 1096.267) / 3829.371) | / | ((941.558 + 1524.601) / 3863.95) |
| = | 0.673252 | / | 0.638248 |
| | = | 1.0548 |
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 |
| = | (-33.322 - 7.73 | - | 83.776) | / | 3829.371 |
| | = | -0.032598 |
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.
Par Pacific Holdings has a M-score of -2.21 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
PARR has been successfully added to your