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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 -2.74 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Talos Energy's Beneish M-Score or its related term are showing as below:
During the past 10 years, the highest Beneish M-Score of Talos Energy was 4.48. The lowest was -6.63. And the median was -2.60.
The historical data trend for Talos Energy'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.
Talos Energy Annual Data | |||||||||||||||||||||
Trend | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | Dec24 | |||||||||||
Beneish M-Score | Get a 7-Day Free Trial |
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-6.63 | -2.80 | -2.60 | 2.10 | -2.74 |
Talos Energy Quarterly Data | ||||||||||||||||||||
Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Sep24 | Dec24 | |
Beneish M-Score | Get a 7-Day Free Trial |
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2.10 | -1.81 | -2.08 | -2.54 | -2.74 |
For the Oil & Gas E&P subindustry, Talos Energy'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.
For the Oil & Gas industry and Energy sector, Talos Energy's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Talos Energy's Beneish M-Score falls into.
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 Talos Energy 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 * 1.0757 | + | 0.528 * 1.4234 | + | 0.404 * 0.6683 | + | 0.892 * 1.3537 | + | 0.115 * 0.8694 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 0.9392 | + | 4.679 * -0.158647 | - | 0.327 * 0.9592 | |||||||
= | -2.74 |
* 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 $404 Mil. Revenue was 485.185 + 509.286 + 549.165 + 429.932 = $1,974 Mil. Gross Profit was 100.292 + 71.466 + 132.288 + 78.546 = $383 Mil. Total Current Assets was $659 Mil. Total Assets was $6,192 Mil. Property, Plant and Equipment(Net PPE) was $5,285 Mil. Depreciation, Depletion and Amortization(DDA) was $1,141 Mil. Selling, General, & Admin. Expense(SGA) was $202 Mil. Total Current Liabilities was $723 Mil. Long-Term Debt & Capital Lease Obligation was $1,237 Mil. Net Income was -64.508 + 88.173 + 12.381 + -112.439 = $-76 Mil. Non Operating Income was -40.689 + 129.014 + 6.01 + -151.012 = $-57 Mil. Cash Flow from Operations was 349.337 + 227.466 + 289.364 + 96.426 = $963 Mil. |
Total Receivables was $278 Mil. Revenue was 384.959 + 383.135 + 367.21 + 322.582 = $1,458 Mil. Gross Profit was 97.717 + 115.628 + 95.644 + 93.291 = $402 Mil. Total Current Assets was $422 Mil. Total Assets was $4,816 Mil. Property, Plant and Equipment(Net PPE) was $4,106 Mil. Depreciation, Depletion and Amortization(DDA) was $750 Mil. Selling, General, & Admin. Expense(SGA) was $158 Mil. Total Current Liabilities was $579 Mil. Long-Term Debt & Capital Lease Obligation was $1,011 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) |
= | (404.258 / 1973.568) | / | (277.61 / 1457.886) | |
= | 0.204836 | / | 0.19042 | |
= | 1.0757 |
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) | |
= | (402.28 / 1457.886) | / | (382.592 / 1973.568) | |
= | 0.275934 | / | 0.193858 | |
= | 1.4234 |
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 - (659.383 + 5284.874) / 6191.795) | / | (1 - (422.175 + 4106.004) / 4816.309) | |
= | 0.039978 | / | 0.059824 | |
= | 0.6683 |
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 | |
= | 1973.568 | / | 1457.886 | |
= | 1.3537 |
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)) |
= | (749.686 / (749.686 + 4106.004)) | / | (1141.162 / (1141.162 + 5284.874)) | |
= | 0.154393 | / | 0.177584 | |
= | 0.8694 |
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) |
= | (201.517 / 1973.568) | / | (158.493 / 1457.886) | |
= | 0.102108 | / | 0.108714 | |
= | 0.9392 |
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) |
= | ((1236.888 + 723.055) / 6191.795) | / | ((1010.825 + 578.615) / 4816.309) | |
= | 0.316539 | / | 0.330012 | |
= | 0.9592 |
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 | |
= | (-76.393 - -56.677 | - | 962.593) | / | 6191.795 | |
= | -0.158647 |
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.
Talos Energy has a M-score of -2.74 suggests that the company is unlikely to be a manipulator.
Thank you for viewing the detailed overview of Talos Energy's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Control Empresarial De Capitales S.a. De C.v. | 10 percent owner, other: Add'l Rep. Persons-see Ex.99-1 | INSURGENTES SUR #3500, PB, COL. PENA POBRE, DELEGACION TLALPAN, CP, MEXICO D.F. O5 14060 |
Maiworm Sergio L. Jr. | officer: See Remarks | 333 CLAY STREET, SUITE 3300, HOUSTON TX 77002 |
Bcc Enven Investments (s), L.p. | 10 percent owner | 200 CLARENDON STREET, BOSTON MA 02116 |
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Bain Capital Distressed & Special Situations 2013 (aiv I), L.p. | 10 percent owner | C/O BAIN CAPITAL CREDIT, LP, 200 CLARENDON ST., BOSTON MA 02116 |
Bain Capital Distressed & Special Situations 2016 (f), L.p. | 10 percent owner | C/O BAIN CAPITAL CREDIT, LP, 200 CLARENDON STREET, BOSTON MA 02116 |
Bain Capital Credit, Lp | 10 percent owner | 200 CLARENDON STREET, BOSTON MA 02116 |
Bain Capital Distressed & Special Situations 2013 (b), L.p. | 10 percent owner | C/O BAIN CAPITAL CREDIT, LP, 200 CLARENDON STREET, BOSTON MA 02116 |
Bain Capital Credit Managed Account (psers), L.p. | 10 percent owner | C/O BAIN CAPITAL CREDIT, LP, 200 CLARENDON ST., BOSTON MA 02116 |
Bain Capital Credit Managed Account (e), L.p. | 10 percent owner | C/O BAIN CAPITAL CREDIT, LP, JOHN HANCOCK TOWER, 200 CLARENDON STREET, BOSTON MA 02116 |
Bain Capital Distressed & Special Situations 2016 (a), L.p. | 10 percent owner | C/O BAIN CAPITAL CREDIT, LP, 200 CLARENDON STREET, BOSTON MA 02116 |
Sankaty Credit Opportunities Iv Lp | 10 percent owner | C/O SANKATY ADVISORS LLC, 111 HUNTINGTON AVENUE, BOSTON MA 02199 |
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Shandell Szabo | director | 333 CLAY STREET, SUITE 3300, HOUSTON TX 77002 |
Bcc Enven Investments (2013), L.p. | 10 percent owner | 200 CLARENDON STREET, BOSTON MA 02116 |
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