General Motors Co (WBO:GMOT) Beneish M-Score : -2.44 (As of Dec. 13, 2024)

View and export this data going back to 2018. Start your Free Trial

What is General Motors Co Beneish M-Score?

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.

Good Sign:

Beneish M-Score -2.44 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for General Motors Co's Beneish M-Score or its related term are showing as below:

WBO:GMOT' s Beneish M-Score Range Over the Past 10 Years
Min: -3.09 Med: -2.61 Max: -2.3
Current: -2.44

During the past 13 years, the highest Beneish M-Score of General Motors Co was -2.30. The lowest was -3.09. And the median was -2.61.

General Motors Co Beneish M-Score Historical Data

The historical data trend for General Motors Co'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.

* Premium members only.

General Motors Co Beneish M-Score Chart

General Motors Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

Get a 7-Day Free Trial

-2.70

-2.76

-2.30

-2.46

General Motors Co Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-2.60	-2.46	-2.40	-2.41	-2.44

Competitive Comparison of General Motors Co's Beneish M-Score

For the Auto Manufacturers subindustry, General Motors Co'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.

General Motors Co's Beneish M-Score Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, General Motors Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where General Motors Co's Beneish M-Score falls into.

General Motors Co 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 General Motors Co for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.0714

0.528 * 1.0615

0.404 * 0.9833

0.892 * 1.0422

0.115 * 0.9464

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.8394

4.679 * -0.030927

0.327 * 1.0294

-2.48

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was €52,470 Mil.
Revenue was 43929.156 + 44562.272 + 39572.88 + 39411.743 = €167,476 Mil.
Gross Profit was 5762.796 + 5800.676 + 5439.04 + 3034.353 = €20,037 Mil.
Total Current Assets was €103,993 Mil.
Total Assets was €260,649 Mil.
Property, Plant and Equipment(Net PPE) was €74,297 Mil.
Depreciation, Depletion and Amortization(DDA) was €11,289 Mil.
Selling, General, & Admin. Expense(SGA) was €8,870 Mil.
Total Current Liabilities was €86,012 Mil.
Long-Term Debt & Capital Lease Obligation was €82,612 Mil.
Net Income was 2753.456 + 2724.757 + 2741.6 + 1926.617 = €10,146 Mil.
Non Operating Income was -109.922 + -78.036 + -96.6 + 505.267 = €221 Mil.
Cash Flow from Operations was 6181.761 + 5551.704 + 2899.84 + 3353.469 = €17,987 Mil.

Total Receivables was €46,988 Mil.
Revenue was 41350.747 + 41301.481 + 37345.99 + 40693.952 = €160,692 Mil.
Gross Profit was 5018.572 + 4935.281 + 4787.684 + 5666.832 = €20,408 Mil.
Total Current Assets was €103,746 Mil.
Total Assets was €263,958 Mil.
Property, Plant and Equipment(Net PPE) was €75,391 Mil.
Depreciation, Depletion and Amortization(DDA) was €10,753 Mil.
Selling, General, & Admin. Expense(SGA) was €10,139 Mil.
Total Current Liabilities was €90,720 Mil.
Long-Term Debt & Capital Lease Obligation was €75,167 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)
	=	(52469.735 / 167476.051)	/	(46987.739 / 160692.17)
	=	0.313297	/	0.292408
	=	1.0714

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)
	=	(20408.369 / 160692.17)	/	(20036.865 / 167476.051)
	=	0.127003	/	0.11964
	=	1.0615

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 - (103992.519 + 74297.361) / 260649.389)	/	(1 - (103745.577 + 75391.02) / 263957.585)
	=	0.315978	/	0.321343
	=	0.9833

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
	=	167476.051	/	160692.17
	=	1.0422

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))
	=	(10752.874 / (10752.874 + 75391.02))	/	(11288.876 / (11288.876 + 74297.361))
	=	0.124825	/	0.131901
	=	0.9464

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)
	=	(8870.38 / 167476.051)	/	(10139.252 / 160692.17)
	=	0.052965	/	0.063097
	=	0.8394

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)
	=	((82611.789 + 86012.163) / 260649.389)	/	((75167.077 + 90720.34) / 263957.585)
	=	0.646938	/	0.628462
	=	1.0294

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
	=	(10146.43 - 220.709	-	17986.774)	/	260649.389
	=	-0.030927

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.

General Motors Co has a M-score of -2.48 suggests that the company is unlikely to be a manipulator.

General Motors Co Beneish M-Score Related Terms

Thank you for viewing the detailed overview of General Motors Co's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

General Motors Co Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » General Motors Co (WBO:GMOT) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

GM:USA GM:Peru GM:Mexico 1GM:Italy 8GMd:UK 8GM:Germany GMCO34:Brazil

Address

300 Renaissance Center, Detroit, MI, USA, 48265-3000

Website

https://www.gm.com

General Motors Co. emerged from the bankruptcy of General Motors Corp. (old GM) in July 2009. GM has eight brands and operates under four segments: GM North America, GM International, Cruise, and GM Financial. The United States now has four brands instead of eight under old GM. The company regained its us market share leader crown in 2022, after losing it to Toyota due to the chip shortage in 2021. 2023's share was 16.5%. GM's Cruise autonomous vehicle arm has previously done driverless geofenced AV robotaxi services in San Francisco and other cities but stopped in late 2023 after an accident. It restarted service in 2024 but not in California. GM owns over 80% of Cruise. GM Financial became the company's captive finance arm in October 2010 via the purchase of AmeriCredit.

General Motors Co Headlines

No Headlines