Silicon Laboratories Beneish M-Score Historical Data
The historical data trend for Silicon Laboratories'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.
Silicon Laboratories Beneish M-Score Chart
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Silicon Laboratories Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.59 |
-2.47 |
0.98 |
-2.52 |
-2.68 |
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Silicon Laboratories Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
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Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-2.04 |
-1.53 |
-1.36 |
-2.68 |
-2.72 |
Competitive Comparison of Silicon Laboratories's Beneish M-Score
For the Semiconductors subindustry, Silicon Laboratories'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.
Silicon Laboratories's Beneish M-Score Distribution in the Semiconductors Industry
For the Semiconductors industry and Technology sector, Silicon Laboratories's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Silicon Laboratories's Beneish M-Score falls into.
Silicon Laboratories 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 Silicon Laboratories 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 * 0.601 | + | 0.528 * 1.0959 | + | 0.404 * 1.6294 | + | 0.892 * 0.6189 | + | 0.115 * 0.9893 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1463 | + | 4.679 * -0.012008 | - | 0.327 * 0.2583 |
| = | -2.72 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was $32.6 Mil.
Revenue was 106.375 + 86.845 + 203.76 + 244.866 = $641.8 Mil.
Gross Profit was 55.069 + 43.926 + 119.025 + 143.775 = $361.8 Mil.
Total Current Assets was $646.1 Mil.
Total Assets was $1,344.2 Mil.
Property, Plant and Equipment(Net PPE) was $142.2 Mil.
Depreciation, Depletion and Amortization(DDA) was $51.0 Mil.
Selling, General, & Admin. Expense(SGA) was $135.7 Mil.
Total Current Liabilities was $111.4 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 Mil.
Net Income was -56.526 + -69.787 + 10.348 + 10.956 = $-105.0 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.0 Mil.
Cash Flow from Operations was -71.8 + 18.537 + -33.385 + -2.22 = $-88.9 Mil.
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Total Receivables was $87.7 Mil.
Revenue was 246.787 + 257.325 + 269.817 + 263.15 = $1,037.1 Mil.
Gross Profit was 153.86 + 157.297 + 165.585 + 163.903 = $640.6 Mil.
Total Current Assets was $1,460.7 Mil.
Total Assets was $2,161.4 Mil.
Property, Plant and Equipment(Net PPE) was $152.1 Mil.
Depreciation, Depletion and Amortization(DDA) was $53.8 Mil.
Selling, General, & Admin. Expense(SGA) was $191.2 Mil.
Total Current Liabilities was $693.3 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 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) |
| = | (32.616 / 641.846) | / | (87.694 / 1037.079) |
| = | 0.050816 | / | 0.084559 |
| | = | 0.601 |
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) |
| = | (640.645 / 1037.079) | / | (361.795 / 641.846) |
| = | 0.61774 | / | 0.563679 |
| | = | 1.0959 |
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 - (646.12 + 142.155) / 1344.153) | / | (1 - (1460.74 + 152.11) / 2161.448) |
| = | 0.413553 | / | 0.25381 |
| | = | 1.6294 |
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 |
| = | 641.846 | / | 1037.079 |
| | = | 0.6189 |
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)) |
| = | (53.833 / (53.833 + 152.11)) | / | (51.049 / (51.049 + 142.155)) |
| = | 0.261398 | / | 0.264223 |
| | = | 0.9893 |
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) |
| = | (135.658 / 641.846) | / | (191.215 / 1037.079) |
| = | 0.211356 | / | 0.184378 |
| | = | 1.1463 |
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) |
| = | ((0 + 111.359) / 1344.153) | / | ((0 + 693.331) / 2161.448) |
| = | 0.082847 | / | 0.320772 |
| | = | 0.2583 |
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 |
| = | (-105.009 - 0 | - | -88.868) | / | 1344.153 |
| | = | -0.012008 |
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.
Silicon Laboratories has a M-score of -2.72 suggests that the company is unlikely to be a manipulator.
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