RBC Bearings Beneish M-Score Historical Data
The historical data trend for RBC Bearings'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.
|
RBC Bearings Annual Data
|
|
Trend |
Mar14 |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
|
|
|
|
|
|
-2.19 |
-2.63 |
-2.75 |
-2.36 |
-2.39 |
|
RBC Bearings 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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.08 |
-2.39 |
-2.43 |
-2.52 |
-2.49 |
Competitive Comparison
For the Tools & Accessories subindustry, RBC Bearings'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.
RBC Bearings Beneish M-Score Distribution
For the Industrial Products industry and Industrials sector, RBC Bearings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where RBC Bearings's Beneish M-Score falls into.
RBC Bearings 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 RBC Bearings 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 * 0.9966 | + | 0.528 * 0.9396 | + | 0.404 * 0.9867 | + | 0.892 * 1.0748 | + | 0.115 * 0.9467 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0304 | + | 4.679 * -0.012462 | - | 0.327 * 0.8933 |
| = | -2.49 |
* 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 $230 Mil.
Revenue was 373.9 + 385.6 + 387.1 + 394.4 = $1,541 Mil.
Gross Profit was 158 + 166.3 + 167.9 + 166.5 = $659 Mil.
Total Current Assets was $957 Mil.
Total Assets was $4,694 Mil.
Property, Plant and Equipment(Net PPE) was $407 Mil.
Depreciation, Depletion and Amortization(DDA) was $119 Mil.
Selling, General, & Admin. Expense(SGA) was $249 Mil.
Total Current Liabilities was $292 Mil.
Long-Term Debt & Capital Lease Obligation was $1,299 Mil.
Net Income was 46.6 + 51.7 + 50 + 49.2 = $198 Mil.
Non Operating Income was -18 + -18.8 + -18.7 + 45 = $-11 Mil.
Cash Flow from Operations was 80.4 + 53.1 + 61.7 + 71.3 = $267 Mil.
|
Total Receivables was $215 Mil.
Revenue was 351.6 + 369.2 + 354.1 + 358.842 = $1,434 Mil.
Gross Profit was 146 + 151.1 + 141.2 + 137.518 = $576 Mil.
Total Current Assets was $902 Mil.
Total Assets was $4,693 Mil.
Property, Plant and Equipment(Net PPE) was $418 Mil.
Depreciation, Depletion and Amortization(DDA) was $114 Mil.
Selling, General, & Admin. Expense(SGA) was $225 Mil.
Total Current Liabilities was $283 Mil.
Long-Term Debt & Capital Lease Obligation was $1,497 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) |
| = | (229.8 / 1541) | / | (214.536 / 1433.742) |
| = | 0.149124 | / | 0.149634 |
| | = | 0.9966 |
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) |
| = | (575.818 / 1433.742) | / | (658.7 / 1541) |
| = | 0.401619 | / | 0.42745 |
| | = | 0.9396 |
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 - (957.3 + 407.4) / 4694.2) | / | (1 - (901.771 + 417.778) / 4692.881) |
| = | 0.70928 | / | 0.718819 |
| | = | 0.9867 |
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 |
| = | 1541 | / | 1433.742 |
| | = | 1.0748 |
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)) |
| = | (113.945 / (113.945 + 417.778)) | / | (119.2 / (119.2 + 407.4)) |
| = | 0.214294 | / | 0.226358 |
| | = | 0.9467 |
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) |
| = | (248.7 / 1541) | / | (224.563 / 1433.742) |
| = | 0.161389 | / | 0.156627 |
| | = | 1.0304 |
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) |
| = | ((1298.7 + 291.6) / 4694.2) | / | ((1497.069 + 282.672) / 4692.881) |
| = | 0.33878 | / | 0.379243 |
| | = | 0.8933 |
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 |
| = | (197.5 - -10.5 | - | 266.5) | / | 4694.2 |
| | = | -0.012462 |
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.
RBC Bearings has a M-score of -2.49 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
RBC has been successfully added to your