Skyworks Solutions (STU:AWM) Beneish M-Score : -3.44 (As of Dec. 12, 2024)

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What is Skyworks Solutions Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

Good Sign:

Beneish M-Score -3.44 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Skyworks Solutions's Beneish M-Score or its related term are showing as below:

STU:AWM' s Beneish M-Score Range Over the Past 10 Years
Min: -3.44 Med: -2.89 Max: -2.15
Current: -3.44

During the past 13 years, the highest Beneish M-Score of Skyworks Solutions was -2.15. The lowest was -3.44. And the median was -2.89.

Skyworks Solutions Beneish M-Score Historical Data

The historical data trend for Skyworks Solutions'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.

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Skyworks Solutions Beneish M-Score Chart

Skyworks Solutions Annual Data

Trend

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Sep24

Beneish M-Score

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-3.26

-2.15

-2.19

-3.04

-3.44

Skyworks Solutions Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-3.04	-2.94	-2.87	-3.01	-3.44

Competitive Comparison of Skyworks Solutions's Beneish M-Score

For the Semiconductors subindustry, Skyworks Solutions'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.

Skyworks Solutions's Beneish M-Score Distribution in the Semiconductors Industry

For the Semiconductors industry and Technology sector, Skyworks Solutions's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Skyworks Solutions's Beneish M-Score falls into.

Skyworks Solutions 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 Skyworks Solutions for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.6598

0.528 * 1.0725

0.404 * 0.9668

0.892 * 0.858

0.115 * 1.1664

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0954

4.679 * -0.135877

0.327 * 0.8486

-3.48

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was €458 Mil.
Revenue was 923.525 + 841.21 + 962.32 + 1101.775 = €3,829 Mil.
Gross Profit was 387.25 + 338.249 + 386.676 + 464.552 = €1,577 Mil.
Total Current Assets was €3,010 Mil.
Total Assets was €7,463 Mil.
Property, Plant and Equipment(Net PPE) was €1,326 Mil.
Depreciation, Depletion and Amortization(DDA) was €414 Mil.
Selling, General, & Admin. Expense(SGA) was €276 Mil.
Total Current Liabilities was €543 Mil.
Long-Term Debt & Capital Lease Obligation was €1,063 Mil.
Net Income was 54.511 + 112.316 + 168.636 + 212.102 = €548 Mil.
Non Operating Income was -114.067 + 7.432 + 10.212 + -11.738 = €-108 Mil.
Cash Flow from Operations was 428.966 + 253.989 + 276.276 + 710.583 = €1,670 Mil.

Total Receivables was €810 Mil.
Revenue was 1142.016 + 988.718 + 1076.995 + 1254.859 = €4,463 Mil.
Gross Profit was 447.98 + 428.364 + 492.592 + 601.989 = €1,971 Mil.
Total Current Assets was €2,979 Mil.
Total Assets was €7,896 Mil.
Property, Plant and Equipment(Net PPE) was €1,495 Mil.
Depreciation, Depletion and Amortization(DDA) was €574 Mil.
Selling, General, & Admin. Expense(SGA) was €293 Mil.
Total Current Liabilities was €895 Mil.
Long-Term Debt & Capital Lease Obligation was €1,107 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)
	=	(458.429 / 3828.83)	/	(809.849 / 4462.588)
	=	0.119731	/	0.181475
	=	0.6598

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)
	=	(1970.925 / 4462.588)	/	(1576.727 / 3828.83)
	=	0.441655	/	0.411804
	=	1.0725

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 - (3010.241 + 1326.182) / 7463.253)	/	(1 - (2979.192 + 1494.984) / 7895.818)
	=	0.418963	/	0.433349
	=	0.9668

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
	=	3828.83	/	4462.588
	=	0.858

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))
	=	(573.704 / (573.704 + 1494.984))	/	(413.676 / (413.676 + 1326.182))
	=	0.277327	/	0.237764
	=	1.1664

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)
	=	(275.825 / 3828.83)	/	(293.492 / 4462.588)
	=	0.072039	/	0.065767
	=	1.0954

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)
	=	((1063.36 + 543.033) / 7463.253)	/	((1107.159 + 895.491) / 7895.818)
	=	0.21524	/	0.253634
	=	0.8486

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
	=	(547.565 - -108.161	-	1669.814)	/	7463.253
	=	-0.135877

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.

Skyworks Solutions has a M-score of -3.48 suggests that the company is unlikely to be a manipulator.

Skyworks Solutions Beneish M-Score Related Terms

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Skyworks Solutions Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Semiconductors » Skyworks Solutions Inc (STU:AWM) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

SWKS:USA SWKS:Mexico 1SWKS:Italy 0L77:UK AWM:Germany AWM:Germany S1SL34:Brazil SWKS:Austria

Address

5260 California Avenue, Irvine, CA, USA, 92617

Website

https://www.skyworksinc.com

Skyworks Solutions Inc produces semiconductors for wireless handsets and other devices that are used to enable wireless connectivity. Its main products include power amplifiers, filters, switches, and integrated front-end modules that support wireless transmissions. Skyworks' customers are mostly large smartphone manufacturers, but the firm also has a growing presence in nonhandset applications such as wireless routers, medical devices, and automobiles.

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