Iamgold Beneish M-Score Historical Data
The historical data trend for Iamgold'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.
Iamgold Beneish M-Score Chart
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Iamgold Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.73 |
-2.66 |
-2.82 |
-2.52 |
-2.76 |
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Iamgold 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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-2.52 |
-3.00 |
-2.76 |
-2.89 |
-2.76 |
Competitive Comparison of Iamgold's Beneish M-Score
For the Gold subindustry, Iamgold'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.
Iamgold's Beneish M-Score Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Iamgold's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Iamgold's Beneish M-Score falls into.
Iamgold 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 Iamgold 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 * 0.3211 | + | 0.528 * 0.3745 | + | 0.404 * 1.129 | + | 0.892 * 1.6926 | + | 0.115 * 1.0301 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.5427 | + | 4.679 * -0.023042 | - | 0.327 * 0.9079 |
| = | -2.76 |
* 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 C$49 Mil.
Revenue was 669.467 + 594.534 + 528.054 + 458.735 = C$2,251 Mil.
Gross Profit was 186.493 + 220.258 + 206.534 + 143.076 = C$756 Mil.
Total Current Assets was C$952 Mil.
Total Assets was C$7,657 Mil.
Property, Plant and Equipment(Net PPE) was C$6,219 Mil.
Depreciation, Depletion and Amortization(DDA) was C$380 Mil.
Selling, General, & Admin. Expense(SGA) was C$58 Mil.
Total Current Liabilities was C$784 Mil.
Long-Term Debt & Capital Lease Obligation was C$1,600 Mil.
Net Income was 122.809 + 804.768 + 115.807 + 74.177 = C$1,118 Mil.
Non Operating Income was -17.809 + 671.34 + -15.624 + -11.912 = C$626 Mil.
Cash Flow from Operations was 146.174 + 198.043 + 219.417 + 104.363 = C$668 Mil.
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Total Receivables was C$91 Mil.
Revenue was 399.26 + 303.771 + 317.27 + 309.509 = C$1,330 Mil.
Gross Profit was 66.812 + 6.224 + 35.341 + 58.974 = C$167 Mil.
Total Current Assets was C$1,011 Mil.
Total Assets was C$6,088 Mil.
Property, Plant and Equipment(Net PPE) was C$4,735 Mil.
Depreciation, Depletion and Amortization(DDA) was C$299 Mil.
Selling, General, & Admin. Expense(SGA) was C$63 Mil.
Total Current Liabilities was C$846 Mil.
Long-Term Debt & Capital Lease Obligation was C$1,242 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) |
| = | (49.437 / 2250.79) | / | (90.96 / 1329.81) |
| = | 0.021964 | / | 0.068401 |
| | = | 0.3211 |
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) |
| = | (167.351 / 1329.81) | / | (756.361 / 2250.79) |
| = | 0.125846 | / | 0.336042 |
| | = | 0.3745 |
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 - (952.127 + 6219.385) / 7656.908) | / | (1 - (1011.164 + 4735.043) / 6088.047) |
| = | 0.063393 | / | 0.056149 |
| | = | 1.129 |
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 |
| = | 2250.79 | / | 1329.81 |
| | = | 1.6926 |
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)) |
| = | (298.628 / (298.628 + 4735.043)) | / | (380.098 / (380.098 + 6219.385)) |
| = | 0.059326 | / | 0.057595 |
| | = | 1.0301 |
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) |
| = | (58.103 / 2250.79) | / | (63.249 / 1329.81) |
| = | 0.025814 | / | 0.047562 |
| | = | 0.5427 |
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) |
| = | ((1600.366 + 784.44) / 7656.908) | / | ((1242.322 + 846.281) / 6088.047) |
| = | 0.311458 | / | 0.343066 |
| | = | 0.9079 |
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 |
| = | (1117.561 - 625.995 | - | 667.997) | / | 7656.908 |
| | = | -0.023042 |
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.
Iamgold has a M-score of -2.76 suggests that the company is unlikely to be a manipulator.
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