Schlumberger Beneish M-Score Historical Data
The historical data trend for Schlumberger'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.
Schlumberger Beneish M-Score Chart
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Schlumberger Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.85 |
-2.90 |
-2.90 |
-2.38 |
-2.60 |
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Schlumberger Quarterly Data
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Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
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-2.46 |
-2.60 |
-2.65 |
-2.57 |
-2.70 |
Competitive Comparison of Schlumberger's Beneish M-Score
For the Oil & Gas Equipment & Services subindustry, Schlumberger'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.
Schlumberger's Beneish M-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Schlumberger's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Schlumberger's Beneish M-Score falls into.
Schlumberger 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 Schlumberger 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 * 0.913 | + | 0.528 * 0.9764 | + | 0.404 * 0.9924 | + | 0.892 * 1.124 | + | 0.115 * 0.9885 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.972 | + | 4.679 * -0.053561 | - | 0.327 * 0.9549 |
| = | -2.70 |
* 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 $8,260 Mil.
Revenue was 9159 + 9139 + 8707 + 8990 = $35,995 Mil.
Gross Profit was 1922 + 1877 + 1700 + 1796 = $7,295 Mil.
Total Current Assets was $18,801 Mil.
Total Assets was $49,775 Mil.
Property, Plant and Equipment(Net PPE) was $7,360 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,927 Mil.
Selling, General, & Admin. Expense(SGA) was $401 Mil.
Total Current Liabilities was $12,699 Mil.
Long-Term Debt & Capital Lease Obligation was $11,864 Mil.
Net Income was 1186 + 1112 + 1068 + 1112 = $4,478 Mil.
Non Operating Income was -54 + -80 + 35 + 9 = $-90 Mil.
Cash Flow from Operations was 2449 + 1436 + 327 + 3022 = $7,234 Mil.
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Total Receivables was $8,049 Mil.
Revenue was 8310 + 8099 + 7736 + 7878 = $32,023 Mil.
Gross Profit was 1718 + 1597 + 1451 + 1571 = $6,337 Mil.
Total Current Assets was $17,038 Mil.
Total Assets was $45,813 Mil.
Property, Plant and Equipment(Net PPE) was $6,875 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,774 Mil.
Selling, General, & Admin. Expense(SGA) was $367 Mil.
Total Current Liabilities was $12,528 Mil.
Long-Term Debt & Capital Lease Obligation was $11,147 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) |
| = | (8260 / 35995) | / | (8049 / 32023) |
| = | 0.229476 | / | 0.251351 |
| | = | 0.913 |
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) |
| = | (6337 / 32023) | / | (7295 / 35995) |
| = | 0.197889 | / | 0.202667 |
| | = | 0.9764 |
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 - (18801 + 7360) / 49775) | / | (1 - (17038 + 6875) / 45813) |
| = | 0.474415 | / | 0.47803 |
| | = | 0.9924 |
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 |
| = | 35995 | / | 32023 |
| | = | 1.124 |
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)) |
| = | (1774 / (1774 + 6875)) | / | (1927 / (1927 + 7360)) |
| = | 0.20511 | / | 0.207494 |
| | = | 0.9885 |
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) |
| = | (401 / 35995) | / | (367 / 32023) |
| = | 0.01114 | / | 0.011461 |
| | = | 0.972 |
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) |
| = | ((11864 + 12699) / 49775) | / | ((11147 + 12528) / 45813) |
| = | 0.493481 | / | 0.516775 |
| | = | 0.9549 |
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 |
| = | (4478 - -90 | - | 7234) | / | 49775 |
| | = | -0.053561 |
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.
Schlumberger has a M-score of -2.70 suggests that the company is unlikely to be a manipulator.
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