Teledyne Technologies Beneish M-Score Historical Data
The historical data trend for Teledyne Technologies'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.
Teledyne Technologies Beneish M-Score Chart
|
Teledyne Technologies Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.38 |
-2.70 |
-2.06 |
-2.32 |
-2.39 |
|
Teledyne Technologies Quarterly Data
|
|
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.32 |
-2.53 |
-2.47 |
-2.39 |
-2.39 |
Competitive Comparison of Teledyne Technologies's Beneish M-Score
For the Scientific & Technical Instruments subindustry, Teledyne Technologies'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.
Teledyne Technologies's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Teledyne Technologies's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Teledyne Technologies's Beneish M-Score falls into.
Teledyne Technologies 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 Teledyne Technologies 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 * 1.0051 | + | 0.528 * 0.9862 | + | 0.404 * 0.9883 | + | 0.892 * 1.0324 | + | 0.115 * 1.0417 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0119 | + | 4.679 * 0.00329 | - | 0.327 * 0.8472 |
| = | -2.39 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $1,202 Mil.
Revenue was 1425 + 1402.5 + 1424.7 + 1383.3 = $5,636 Mil.
Gross Profit was 623.1 + 605.3 + 618.4 + 592.6 = $2,439 Mil.
Total Current Assets was $2,981 Mil.
Total Assets was $14,528 Mil.
Property, Plant and Equipment(Net PPE) was $777 Mil.
Depreciation, Depletion and Amortization(DDA) was $316 Mil.
Selling, General, & Admin. Expense(SGA) was $1,208 Mil.
Total Current Liabilities was $1,766 Mil.
Long-Term Debt & Capital Lease Obligation was $2,645 Mil.
Net Income was 323.1 + 198.6 + 185.3 + 178.7 = $886 Mil.
Non Operating Income was -1.7 + 0.2 + 1.1 + 2.2 = $2 Mil.
Cash Flow from Operations was 164.4 + 278.2 + 190.5 + 203 = $836 Mil.
|
Total Receivables was $1,158 Mil.
Revenue was 1418.2 + 1363.6 + 1355.8 + 1321 = $5,459 Mil.
Gross Profit was 616.9 + 577.8 + 567.2 + 568.4 = $2,330 Mil.
Total Current Assets was $2,818 Mil.
Total Assets was $14,354 Mil.
Property, Plant and Equipment(Net PPE) was $770 Mil.
Depreciation, Depletion and Amortization(DDA) was $332 Mil.
Selling, General, & Admin. Expense(SGA) was $1,157 Mil.
Total Current Liabilities was $1,523 Mil.
Long-Term Debt & Capital Lease Obligation was $3,621 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) |
| = | (1202.1 / 5635.5) | / | (1158.4 / 5458.6) |
| = | 0.213308 | / | 0.212216 |
| | = | 1.0051 |
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) |
| = | (2330.3 / 5458.6) | / | (2439.4 / 5635.5) |
| = | 0.426904 | / | 0.432863 |
| | = | 0.9862 |
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 - (2981.4 + 777) / 14527.9) | / | (1 - (2817.9 + 769.8) / 14354) |
| = | 0.741298 | / | 0.750056 |
| | = | 0.9883 |
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 |
| = | 5635.5 | / | 5458.6 |
| | = | 1.0324 |
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)) |
| = | (332.2 / (332.2 + 769.8)) | / | (316.4 / (316.4 + 777)) |
| = | 0.301452 | / | 0.289373 |
| | = | 1.0417 |
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) |
| = | (1208.3 / 5635.5) | / | (1156.6 / 5458.6) |
| = | 0.214409 | / | 0.211886 |
| | = | 1.0119 |
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) |
| = | ((2644.8 + 1766.1) / 14527.9) | / | ((3620.5 + 1523.4) / 14354) |
| = | 0.303616 | / | 0.35836 |
| | = | 0.8472 |
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 |
| = | (885.7 - 1.8 | - | 836.1) | / | 14527.9 |
| | = | 0.00329 |
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.
Teledyne Technologies has a M-score of -2.39 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
TDY has been successfully added to your