Pentair Beneish M-Score Historical Data
The historical data trend for Pentair'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.
Pentair Beneish M-Score Chart
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Pentair Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.85 |
-2.24 |
-2.46 |
-2.44 |
-2.56 |
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Pentair Quarterly Data
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Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-2.44 |
-2.37 |
-2.46 |
-2.60 |
-2.56 |
Competitive Comparison of Pentair's Beneish M-Score
For the Specialty Industrial Machinery subindustry, Pentair'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.
Pentair's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Pentair's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Pentair's Beneish M-Score falls into.
Pentair 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 Pentair 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 * 1.0146 | + | 0.528 * 0.9453 | + | 0.404 * 1.0193 | + | 0.892 * 0.993 | + | 0.115 * 1.0554 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9326 | + | 4.679 * -0.01536 | - | 0.327 * 0.8864 |
| = | -2.51 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was €584 Mil.
Revenue was 929.12 + 895.053 + 1021.25 + 935.824 = €3,781 Mil.
Gross Profit was 360.608 + 354.273 + 406.809 + 358.892 = €1,481 Mil.
Total Current Assets was €1,371 Mil.
Total Assets was €6,156 Mil.
Property, Plant and Equipment(Net PPE) was €454 Mil.
Depreciation, Depletion and Amortization(DDA) was €106 Mil.
Selling, General, & Admin. Expense(SGA) was €611 Mil.
Total Current Liabilities was €855 Mil.
Long-Term Debt & Capital Lease Obligation was €1,654 Mil.
Net Income was 158.912 + 125.78 + 172.887 + 122.636 = €580 Mil.
Non Operating Income was -6.781 + -26.129 + -0.743 + -0.092 = €-34 Mil.
Cash Flow from Operations was 82.608 + 223.989 + 500.917 + -98.992 = €709 Mil.
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Total Receivables was €580 Mil.
Revenue was 902.878 + 945.246 + 999.148 + 960.712 = €3,808 Mil.
Gross Profit was 335.714 + 348.377 + 368.739 + 356.601 = €1,409 Mil.
Total Current Assets was €1,439 Mil.
Total Assets was €6,019 Mil.
Property, Plant and Equipment(Net PPE) was €425 Mil.
Depreciation, Depletion and Amortization(DDA) was €107 Mil.
Selling, General, & Admin. Expense(SGA) was €660 Mil.
Total Current Liabilities was €871 Mil.
Long-Term Debt & Capital Lease Obligation was €1,896 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) |
| = | (584.365 / 3781.247) | / | (580.002 / 3807.984) |
| = | 0.154543 | / | 0.152312 |
| | = | 1.0146 |
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) |
| = | (1409.431 / 3807.984) | / | (1480.582 / 3781.247) |
| = | 0.370125 | / | 0.391559 |
| | = | 0.9453 |
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 - (1371.476 + 453.53) / 6156.408) | / | (1 - (1438.773 + 425.488) / 6018.546) |
| = | 0.70356 | / | 0.690247 |
| | = | 1.0193 |
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 |
| = | 3781.247 | / | 3807.984 |
| | = | 0.993 |
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)) |
| = | (106.502 / (106.502 + 425.488)) | / | (106.164 / (106.164 + 453.53)) |
| = | 0.200195 | / | 0.189682 |
| | = | 1.0554 |
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) |
| = | (611.484 / 3781.247) | / | (660.307 / 3807.984) |
| = | 0.161715 | / | 0.173401 |
| | = | 0.9326 |
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) |
| = | ((1653.583 + 854.821) / 6156.408) | / | ((1895.806 + 870.783) / 6018.546) |
| = | 0.407446 | / | 0.459677 |
| | = | 0.8864 |
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 |
| = | (580.215 - -33.745 | - | 708.522) | / | 6156.408 |
| | = | -0.01536 |
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.
Pentair has a M-score of -2.51 suggests that the company is unlikely to be a manipulator.
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