Valvoline Beneish M-Score Historical Data
The historical data trend for Valvoline'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.
Valvoline Beneish M-Score Chart
|
Valvoline Annual Data
|
|
Trend |
Sep15 |
Sep16 |
Sep17 |
Sep18 |
Sep19 |
Sep20 |
Sep21 |
Sep22 |
Sep23 |
Sep24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-1.10 |
-2.80 |
-2.33 |
0.19 |
-2.39 |
|
Valvoline Quarterly Data
|
|
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
Mar25 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-1.33 |
-2.13 |
-2.39 |
-2.37 |
-2.55 |
Competitive Comparison of Valvoline's Beneish M-Score
For the Auto & Truck Dealerships subindustry, Valvoline'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.
Valvoline's Beneish M-Score Distribution in the Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Valvoline's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Valvoline's Beneish M-Score falls into.
Valvoline 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 Valvoline 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 * 0.717 | + | 0.528 * 0.991 | + | 0.404 * 1.1496 | + | 0.892 * 1.0956 | + | 0.115 * 1.0002 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0571 | + | 4.679 * 0.002202 | - | 0.327 * 0.8577 |
| = | -2.55 |
* 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 (Mar25) TTM: | Last Year (Mar24) TTM: |
Total Receivables was $86 Mil.
Revenue was 403.2 + 414.3 + 435.5 + 421.4 = $1,674 Mil.
Gross Profit was 150.5 + 152.9 + 170.3 + 167.5 = $641 Mil.
Total Current Assets was $230 Mil.
Total Assets was $2,453 Mil.
Property, Plant and Equipment(Net PPE) was $1,309 Mil.
Depreciation, Depletion and Amortization(DDA) was $112 Mil.
Selling, General, & Admin. Expense(SGA) was $327 Mil.
Total Current Liabilities was $316 Mil.
Long-Term Debt & Capital Lease Obligation was $1,347 Mil.
Net Income was 37.6 + 91.6 + 92.3 + 45.9 = $267 Mil.
Non Operating Income was 0.1 + 0.5 + -0.4 + -3.5 = $-3 Mil.
Cash Flow from Operations was 47.2 + 41.2 + 101.3 + 75.6 = $265 Mil.
|
Total Receivables was $110 Mil.
Revenue was 388.7 + 373.4 + 390 + 376.2 = $1,528 Mil.
Gross Profit was 146.2 + 134.8 + 148.3 + 150.7 = $580 Mil.
Total Current Assets was $701 Mil.
Total Assets was $2,763 Mil.
Property, Plant and Equipment(Net PPE) was $1,166 Mil.
Depreciation, Depletion and Amortization(DDA) was $100 Mil.
Selling, General, & Admin. Expense(SGA) was $283 Mil.
Total Current Liabilities was $964 Mil.
Long-Term Debt & Capital Lease Obligation was $1,220 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) |
| = | (86.1 / 1674.4) | / | (109.6 / 1528.3) |
| = | 0.051421 | / | 0.071714 |
| | = | 0.717 |
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) |
| = | (580 / 1528.3) | / | (641.2 / 1674.4) |
| = | 0.379507 | / | 0.382943 |
| | = | 0.991 |
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 - (230 + 1308.7) / 2452.6) | / | (1 - (701.4 + 1166) / 2763) |
| = | 0.372625 | / | 0.32414 |
| | = | 1.1496 |
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 |
| = | 1674.4 | / | 1528.3 |
| | = | 1.0956 |
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)) |
| = | (99.9 / (99.9 + 1166)) | / | (112.1 / (112.1 + 1308.7)) |
| = | 0.078916 | / | 0.078899 |
| | = | 1.0002 |
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) |
| = | (327.4 / 1674.4) | / | (282.7 / 1528.3) |
| = | 0.195533 | / | 0.184977 |
| | = | 1.0571 |
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) |
| = | ((1347.1 + 315.6) / 2452.6) | / | ((1220.3 + 963.7) / 2763) |
| = | 0.677934 | / | 0.790445 |
| | = | 0.8577 |
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 |
| = | (267.4 - -3.3 | - | 265.3) | / | 2452.6 |
| | = | 0.002202 |
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.
Valvoline has a M-score of -2.55 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
VVV has been successfully added to your