Teck Resources Beneish M-Score Historical Data
The historical data trend for Teck Resources'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.
Teck Resources Beneish M-Score Chart
|
Teck Resources Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.52 |
-2.01 |
-2.64 |
-3.08 |
-2.03 |
|
Teck Resources 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-3.08 |
-2.96 |
-3.00 |
-2.38 |
-2.03 |
Competitive Comparison of Teck Resources's Beneish M-Score
For the Other Industrial Metals & Mining subindustry, Teck Resources'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.
Teck Resources's Beneish M-Score Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Teck Resources's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Teck Resources's Beneish M-Score falls into.
Teck Resources 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 Teck Resources 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 * 1.5604 | + | 0.528 * 1.4447 | + | 0.404 * 0.9768 | + | 0.892 * 0.8669 | + | 0.115 * 0.9858 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0362 | + | 4.679 * -0.035467 | - | 0.327 * 1.002 |
| = | -2.03 |
* 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$2,190 Mil.
Revenue was 4108 + 3599 + 3519 + 3785 = C$15,011 Mil.
Gross Profit was 1236 + 831 + 1410 + 1666 = C$5,143 Mil.
Total Current Assets was C$6,465 Mil.
Total Assets was C$56,193 Mil.
Property, Plant and Equipment(Net PPE) was C$45,565 Mil.
Depreciation, Depletion and Amortization(DDA) was C$1,931 Mil.
Selling, General, & Admin. Expense(SGA) was C$424 Mil.
Total Current Liabilities was C$5,892 Mil.
Long-Term Debt & Capital Lease Obligation was C$10,382 Mil.
Net Income was 483 + 276 + 510 + 1140 = C$2,409 Mil.
Non Operating Income was 1 + 45 + -125 + 397 = C$318 Mil.
Cash Flow from Operations was 1126 + 736 + 1130 + 1092 = C$4,084 Mil.
|
Total Receivables was C$1,619 Mil.
Revenue was 3140 + 4260 + 5300 + 4616 = C$17,316 Mil.
Gross Profit was 1154 + 1797 + 3142 + 2478 = C$8,571 Mil.
Total Current Assets was C$8,293 Mil.
Total Assets was C$52,359 Mil.
Property, Plant and Equipment(Net PPE) was C$40,095 Mil.
Depreciation, Depletion and Amortization(DDA) was C$1,674 Mil.
Selling, General, & Admin. Expense(SGA) was C$472 Mil.
Total Current Liabilities was C$5,864 Mil.
Long-Term Debt & Capital Lease Obligation was C$9,269 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) |
| = | (2190 / 15011) | / | (1619 / 17316) |
| = | 0.145893 | / | 0.093497 |
| | = | 1.5604 |
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) |
| = | (8571 / 17316) | / | (5143 / 15011) |
| = | 0.494976 | / | 0.342615 |
| | = | 1.4447 |
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 - (6465 + 45565) / 56193) | / | (1 - (8293 + 40095) / 52359) |
| = | 0.074084 | / | 0.075842 |
| | = | 0.9768 |
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 |
| = | 15011 | / | 17316 |
| | = | 0.8669 |
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)) |
| = | (1674 / (1674 + 40095)) | / | (1931 / (1931 + 45565)) |
| = | 0.040078 | / | 0.040656 |
| | = | 0.9858 |
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) |
| = | (424 / 15011) | / | (472 / 17316) |
| = | 0.028246 | / | 0.027258 |
| | = | 1.0362 |
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) |
| = | ((10382 + 5892) / 56193) | / | ((9269 + 5864) / 52359) |
| = | 0.289609 | / | 0.289024 |
| | = | 1.002 |
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 |
| = | (2409 - 318 | - | 4084) | / | 56193 |
| | = | -0.035467 |
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.
Teck Resources has a M-score of -2.03 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
TSX:TECK.A has been successfully added to your