Barrick Gold Beneish M-Score Historical Data
The historical data trend for Barrick Gold'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.
Barrick Gold Beneish M-Score Chart
|
Barrick Gold Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.08 |
-2.84 |
-2.48 |
-2.60 |
-2.39 |
|
Barrick Gold 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.60 |
-2.57 |
-2.42 |
-2.48 |
-2.39 |
Competitive Comparison of Barrick Gold's Beneish M-Score
For the Gold subindustry, Barrick Gold'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.
Barrick Gold's Beneish M-Score Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Barrick Gold's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Barrick Gold's Beneish M-Score falls into.
Barrick Gold 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 Barrick Gold 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 * 1.205 | + | 0.528 * 1.0451 | + | 0.404 * 1.0274 | + | 0.892 * 1.0656 | + | 0.115 * 0.9646 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.7672 | + | 4.679 * -0.055479 | - | 0.327 * 0.9083 |
| = | -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 C$1,580 Mil.
Revenue was 4103.954 + 3872.572 + 3763.924 + 3616.417 = C$15,357 Mil.
Gross Profit was 1234.272 + 1281.386 + 1190.426 + 960.547 = C$4,667 Mil.
Total Current Assets was C$9,979 Mil.
Total Assets was C$61,460 Mil.
Property, Plant and Equipment(Net PPE) was C$35,550 Mil.
Depreciation, Depletion and Amortization(DDA) was C$2,754 Mil.
Selling, General, & Admin. Expense(SGA) was C$170 Mil.
Total Current Liabilities was C$3,161 Mil.
Long-Term Debt & Capital Lease Obligation was C$6,949 Mil.
Net Income was 642.626 + 497.941 + 405.223 + 164.196 = C$1,710 Mil.
Non Operating Income was 83.179 + -8.119 + 49.158 + -34.207 = C$90 Mil.
Cash Flow from Operations was 1337.575 + 1524.944 + 1105.395 + 1061.801 = C$5,030 Mil.
|
Total Receivables was C$1,231 Mil.
Revenue was 3768.479 + 3370.765 + 3660.664 + 3611.898 = C$14,412 Mil.
Gross Profit was 925.138 + 949.737 + 1291.924 + 1410.324 = C$4,577 Mil.
Total Current Assets was C$11,500 Mil.
Total Assets was C$62,443 Mil.
Property, Plant and Equipment(Net PPE) was C$35,189 Mil.
Depreciation, Depletion and Amortization(DDA) was C$2,622 Mil.
Selling, General, & Admin. Expense(SGA) was C$208 Mil.
Total Current Liabilities was C$4,239 Mil.
Long-Term Debt & Capital Lease Obligation was C$7,071 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) |
| = | (1580.405 / 15356.867) | / | (1230.801 / 14411.806) |
| = | 0.102912 | / | 0.085402 |
| | = | 1.205 |
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) |
| = | (4577.123 / 14411.806) | / | (4666.631 / 15356.867) |
| = | 0.317595 | / | 0.303879 |
| | = | 1.0451 |
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 - (9978.821 + 35549.717) / 61460.038) | / | (1 - (11499.702 + 35189.225) / 62443.452) |
| = | 0.259217 | / | 0.252301 |
| | = | 1.0274 |
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 |
| = | 15356.867 | / | 14411.806 |
| | = | 1.0656 |
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)) |
| = | (2621.956 / (2621.956 + 35189.225)) | / | (2753.66 / (2753.66 + 35549.717)) |
| = | 0.069343 | / | 0.071891 |
| | = | 0.9646 |
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) |
| = | (170.064 / 15356.867) | / | (208.023 / 14411.806) |
| = | 0.011074 | / | 0.014434 |
| | = | 0.7672 |
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) |
| = | ((6949.488 + 3160.81) / 61460.038) | / | ((7070.992 + 4238.52) / 62443.452) |
| = | 0.164502 | / | 0.181116 |
| | = | 0.9083 |
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 |
| = | (1709.986 - 90.011 | - | 5029.715) | / | 61460.038 |
| | = | -0.055479 |
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.
Barrick Gold 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
TSX:ABX has been successfully added to your