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Invesco Seniorome Trust (Invesco Seniorome Trust) Beneish M-Score : 15.02 (As of May. 17, 2024)


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What is Invesco Seniorome Trust Beneish M-Score?

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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.

Warning Sign:

Beneish M-Score 15.02 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Invesco Seniorome Trust's Beneish M-Score or its related term are showing as below:

VVR' s Beneish M-Score Range Over the Past 10 Years
Min: -3.02   Med: -2.34   Max: 15.02
Current: 15.02

During the past 7 years, the highest Beneish M-Score of Invesco Seniorome Trust was 15.02. The lowest was -3.02. And the median was -2.34.


Invesco Seniorome Trust 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 Invesco Seniorome Trust 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 * 0.026+0.528 * 1+0.404 * 1+0.892 * 21.4843+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.0509+4.679 * -0.004127-0.327 * 1.0556
=15.02

* 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 (Feb24) TTM:Last Year (Feb23) TTM:
Total Receivables was $20.55 Mil.
Revenue was $73.41 Mil.
Gross Profit was $73.41 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $999.72 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $3.01 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $207.00 Mil.
Net Income was $70.39 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $74.51 Mil.
Total Receivables was $36.73 Mil.
Revenue was $3.42 Mil.
Gross Profit was $3.42 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $1,024.71 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $2.75 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $201.00 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)
=(20.545 / 73.412) / (36.733 / 3.417)
=0.279859 / 10.750073
=0.026

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)
=(3.417 / 3.417) / (73.412 / 73.412)
=1 / 1
=1

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 - (0 + 0) / 999.719) / (1 - (0 + 0) / 1024.712)
=1 / 1
=1

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
=73.412 / 3.417
=21.4843

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))
=(0 / (0 + 0)) / (0 / (0 + 0))
= /
=1

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)
=(3.005 / 73.412) / (2.746 / 3.417)
=0.040933 / 0.803629
=0.0509

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)
=((207 + 0) / 999.719) / ((201 + 0) / 1024.712)
=0.207058 / 0.196153
=1.0556

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
=(70.386 - 0 - 74.512) / 999.719
=-0.004127

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.

Invesco Seniorome Trust has a M-score of 15.02 signals that the company is likely to be a manipulator.


Invesco Seniorome Trust Beneish M-Score Related Terms

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Invesco Seniorome Trust (Invesco Seniorome Trust) Business Description

Traded in Other Exchanges
N/A
Address
1555 Peachtree Street, N.E., Suite 1800, Atlanta, GA, USA, 30309
Invesco Senior Income Trust is a diversified, closed-end management investment company. The investment objective of the company is to provide a high level of current income, consistent with the preservation of capital. The company invests primarily in a portfolio of interests in floating or variable senior loans to corporations, partnerships, and other entities which operate in a variety of industries and geographic regions.
Executives
Glenn Eugene Brightman officer: President & PEO 570 CARILLON PARKWAY, ST. PETERSBURG FL 33716
Stephanie Butcher officer: Senior Vice President 1555 PEACHTREE ST. NE, ATLANTA GA 30309
Tony Wong director, officer: Senior Vice President 1331 SPRING STREET NW, SUITE 2500, ATLANTA GA 30309
Melanie Ringold officer: SVP, CLO and Secretary 1555 PEACHTREE STREE NE, SUITE 1800, ATLANTA GA 30309
Terry Vacheron officer: Chief Financial Officer 1555 PEACHTREE ST. NE, SUITE 1800, ATLANTA GA 30309
Bordewick James R Jr officer: Senior Officer & SVP C/O BANC OF AMERICA INVESTMENT ADVISORS, 100 FEDERAL STREET, BOSTON MA 02110
Antonio Reina officer: Secretary 1555 PEACHTREE STREET NE SUITE 1800, ATLANTA GA 30309
Benjamin Gruder officer: Co-CAO 1555 PEACHTREE STREET, NE SUITE 1800, ATLANTA GA 30309
Josh E Levit officer: Chief Compliance Officer 1555 PEACHTREE STREET NE SUITE 1800, ATLANTA GA 30309
Adrien Deberghes officer: Vice President,PFO & Treasurer 1555 PEACHTREE STREET NE SUITE 1800, ATLANTA GA 30309
Haley S Waldron officer: Chief Accounting Officer 1555 PEACHTREE STREET NE SUITE 1800, ATLANTA GA 30309
Laura Allison Dukes officer: SMD and CFO 780 JOHNSON FERRY ROAD, SUITE 800, ATLANTA GA 30342
Tara Mcaleer officer: Chief Compliance Officer 1555 PEACHTREE STREET NE, ATLANTA GA 30309
Loren M Starr director
Stephen William Swanson officer: Secretary and General Counsel 1555 PEACHTREE STREET NE, ATLANTA GA 30309