Tesla Beneish M-Score Historical Data
The historical data trend for Tesla'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.
Tesla Beneish M-Score Chart
|
Tesla Annual Data
|
|
Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.71 |
-2.47 |
-2.04 |
-1.63 |
-2.54 |
|
Tesla Quarterly Data
|
|
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-1.63 |
-1.60 |
-1.95 |
-1.93 |
-2.54 |
Competitive Comparison of Tesla's Beneish M-Score
For the Auto Manufacturers subindustry, Tesla'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.
Tesla's Beneish M-Score Distribution in the Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Tesla's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Tesla's Beneish M-Score falls into.
Tesla 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 Tesla 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 * 1.2476 | + | 0.528 * 1.0216 | + | 0.404 * 0.8978 | + | 0.892 * 1.0095 | + | 0.115 * 0.993 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0628 | + | 4.679 * -0.06425 | - | 0.327 * 0.8561 |
| = | -2.54 |
* 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 zł16,971 Mil.
Revenue was 98750.124 + 96733.405 + 97954.96 + 81825.044 = zł375,264 Mil.
Gross Profit was 16053.089 + 19195.331 + 17585.796 + 14197.707 = zł67,032 Mil.
Total Current Assets was zł224,182 Mil.
Total Assets was zł468,916 Mil.
Property, Plant and Equipment(Net PPE) was zł197,834 Mil.
Depreciation, Depletion and Amortization(DDA) was zł20,620 Mil.
Selling, General, & Admin. Expense(SGA) was zł19,783 Mil.
Total Current Liabilities was zł110,712 Mil.
Long-Term Debt & Capital Lease Obligation was zł22,115 Mil.
Net Income was 8900.457 + 8324.251 + 5677.546 + 4336.908 = zł27,239 Mil.
Non Operating Income was 3188.338 + -1248.446 + -2312.505 + 414.868 = zł42 Mil.
Cash Flow from Operations was 18492.36 + 24027.776 + 13875.032 + 929.612 = zł57,325 Mil.
|
Total Receivables was zł13,476 Mil.
Revenue was 96675.784 + 89696.013 + 95753.855 + 89615.344 = zł371,741 Mil.
Gross Profit was 17048.004 + 16049.248 + 17412.935 + 17328.425 = zł67,839 Mil.
Total Current Assets was zł190,593 Mil.
Total Assets was zł409,559 Mil.
Property, Plant and Equipment(Net PPE) was zł173,338 Mil.
Depreciation, Depletion and Amortization(DDA) was zł17,928 Mil.
Selling, General, & Admin. Expense(SGA) was zł18,439 Mil.
Total Current Liabilities was zł110,432 Mil.
Long-Term Debt & Capital Lease Obligation was zł25,076 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) |
| = | (16971.177 / 375263.533) | / | (13475.529 / 371740.996) |
| = | 0.045225 | / | 0.03625 |
| | = | 1.2476 |
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) |
| = | (67838.612 / 371740.996) | / | (67031.923 / 375263.533) |
| = | 0.182489 | / | 0.178626 |
| | = | 1.0216 |
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 - (224182.412 + 197834.448) / 468916.158) | / | (1 - (190593.464 + 173338.025) / 409559.293) |
| = | 0.100016 | / | 0.111407 |
| | = | 0.8978 |
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 |
| = | 375263.533 | / | 371740.996 |
| | = | 1.0095 |
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)) |
| = | (17927.678 / (17927.678 + 173338.025)) | / | (20620.479 / (20620.479 + 197834.448)) |
| = | 0.093732 | / | 0.094392 |
| | = | 0.993 |
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) |
| = | (19783.061 / 375263.533) | / | (18438.581 / 371740.996) |
| = | 0.052718 | / | 0.049601 |
| | = | 1.0628 |
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) |
| = | ((22114.773 + 110712.154) / 468916.158) | / | ((25076.47 + 110431.733) / 409559.293) |
| = | 0.283264 | / | 0.330863 |
| | = | 0.8561 |
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 |
| = | (27239.162 - 42.255 | - | 57324.78) | / | 468916.158 |
| | = | -0.06425 |
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.
Tesla has a M-score of -2.54 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
WAR:TSLA has been successfully added to your