Resideo Technologies Beneish M-Score Historical Data
The historical data trend for Resideo Technologies'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.
Resideo Technologies Beneish M-Score Chart
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Resideo Technologies Annual Data
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Dec15 |
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Dec19 |
Dec20 |
Dec21 |
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Dec23 |
| Beneish M-Score |
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-2.27 |
-2.51 |
-2.41 |
-2.10 |
-2.51 |
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Resideo Technologies Quarterly Data
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Dec19 |
Mar20 |
Jun20 |
Sep20 |
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Mar21 |
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Sep21 |
Dec21 |
Mar22 |
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Mar23 |
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Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
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-2.46 |
-2.51 |
-2.55 |
-2.43 |
-2.45 |
Competitive Comparison of Resideo Technologies's Beneish M-Score
For the Industrial Distribution subindustry, Resideo Technologies'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.
Resideo Technologies's Beneish M-Score Distribution in the Industrial Distribution Industry
For the Industrial Distribution industry and Industrials sector, Resideo Technologies's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Resideo Technologies's Beneish M-Score falls into.
Resideo Technologies 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 Resideo Technologies 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 * 1.0861 | + | 0.528 * 0.9752 | + | 0.404 * 1.0715 | + | 0.892 * 1.0279 | + | 0.115 * 0.8842 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0644 | + | 4.679 * -0.01303 | - | 0.327 * 1.0133 |
| = | -2.45 |
* 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 $1,103 Mil.
Revenue was 1828 + 1589 + 1486 + 1537 = $6,440 Mil.
Gross Profit was 524 + 447 + 400 + 423 = $1,794 Mil.
Total Current Assets was $3,037 Mil.
Total Assets was $8,135 Mil.
Property, Plant and Equipment(Net PPE) was $423 Mil.
Depreciation, Depletion and Amortization(DDA) was $125 Mil.
Selling, General, & Admin. Expense(SGA) was $1,069 Mil.
Total Current Liabilities was $1,672 Mil.
Long-Term Debt & Capital Lease Obligation was $1,983 Mil.
Net Income was 20 + 30 + 43 + 82 = $175 Mil.
Non Operating Income was -84 + -59 + -49 + -31 = $-223 Mil.
Cash Flow from Operations was 147 + 92 + 2 + 263 = $504 Mil.
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Total Receivables was $988 Mil.
Revenue was 1554 + 1602 + 1549 + 1560 = $6,265 Mil.
Gross Profit was 417 + 436 + 418 + 431 = $1,702 Mil.
Total Current Assets was $2,615 Mil.
Total Assets was $6,459 Mil.
Property, Plant and Equipment(Net PPE) was $380 Mil.
Depreciation, Depletion and Amortization(DDA) was $96 Mil.
Selling, General, & Admin. Expense(SGA) was $977 Mil.
Total Current Liabilities was $1,467 Mil.
Long-Term Debt & Capital Lease Obligation was $1,397 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) |
| = | (1103 / 6440) | / | (988 / 6265) |
| = | 0.171273 | / | 0.157702 |
| | = | 1.0861 |
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) |
| = | (1702 / 6265) | / | (1794 / 6440) |
| = | 0.271668 | / | 0.278571 |
| | = | 0.9752 |
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 - (3037 + 423) / 8135) | / | (1 - (2615 + 380) / 6459) |
| = | 0.574677 | / | 0.536306 |
| | = | 1.0715 |
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 |
| = | 6440 | / | 6265 |
| | = | 1.0279 |
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)) |
| = | (96 / (96 + 380)) | / | (125 / (125 + 423)) |
| = | 0.201681 | / | 0.228102 |
| | = | 0.8842 |
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) |
| = | (1069 / 6440) | / | (977 / 6265) |
| = | 0.165994 | / | 0.155946 |
| | = | 1.0644 |
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) |
| = | ((1983 + 1672) / 8135) | / | ((1397 + 1467) / 6459) |
| = | 0.449293 | / | 0.443412 |
| | = | 1.0133 |
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 |
| = | (175 - -223 | - | 504) | / | 8135 |
| | = | -0.01303 |
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.
Resideo Technologies has a M-score of -2.45 suggests that the company is unlikely to be a manipulator.
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