Ingenico Group Beneish M-Score Historical Data
The historical data trend for Ingenico Group'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.
|
Ingenico Group Annual Data
|
|
Trend |
Dec10 |
Dec11 |
Dec12 |
Dec13 |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
| Beneish M-Score |
|
|
|
|
|
|
-2.47 |
-2.43 |
-2.41 |
-2.49 |
-2.49 |
|
Ingenico Group Semi-Annual Data
|
|
Dec10 |
Jun11 |
Dec11 |
Jun12 |
Dec12 |
Jun13 |
Dec13 |
Jun14 |
Dec14 |
Jun15 |
Dec15 |
Jun16 |
Dec16 |
Jun17 |
Dec17 |
Jun18 |
Dec18 |
Jun19 |
Dec19 |
Jun20 |
| Beneish M-Score |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- |
-2.49 |
- |
-2.49 |
- |
Competitive Comparison
For the Software - Infrastructure subindustry, Ingenico Group'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.
Ingenico Group Beneish M-Score Distribution
For the Software industry and Technology sector, Ingenico Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Ingenico Group's Beneish M-Score falls into.
Ingenico Group 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 Ingenico Group 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 * 0.8253 | + | 0.528 * 1.0917 | + | 0.404 * 0.9102 | + | 0.892 * 1.2749 | + | 0.115 * 1.1627 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9596 | + | 4.679 * -0.0299 | - | 0.327 * 0.9759 |
| = | -2.49 |
* 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 (Dec19) TTM: | Last Year (Dec18) TTM: |
Total Receivables was €587 Mil.
Revenue was €3,370 Mil.
Gross Profit was €1,162 Mil.
Total Current Assets was €3,326 Mil.
Total Assets was €7,567 Mil.
Property, Plant and Equipment(Net PPE) was €187 Mil.
Depreciation, Depletion and Amortization(DDA) was €231 Mil.
Selling, General, & Admin. Expense(SGA) was €608 Mil.
Total Current Liabilities was €3,036 Mil.
Long-Term Debt & Capital Lease Obligation was €1,597 Mil.
Net Income was €208 Mil.
Gross Profit was €0 Mil.
Cash Flow from Operations was €434 Mil.
|
Total Receivables was €558 Mil.
Revenue was €2,643 Mil.
Gross Profit was €995 Mil.
Total Current Assets was €2,409 Mil.
Total Assets was €6,075 Mil.
Property, Plant and Equipment(Net PPE) was €90 Mil.
Depreciation, Depletion and Amortization(DDA) was €162 Mil.
Selling, General, & Admin. Expense(SGA) was €497 Mil.
Total Current Liabilities was €2,054 Mil.
Long-Term Debt & Capital Lease Obligation was €1,758 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) |
| = | (587 / 3370.1) | / | (557.9 / 2643.4) |
| = | 0.17417881 | / | 0.21105395 |
| | = | 0.8253 |
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) |
| = | (994.8 / 2643.4) | / | (1161.7 / 3370.1) |
| = | 0.37633351 | / | 0.34470787 |
| | = | 1.0917 |
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 - (3326.4 + 186.9) / 7566.9) | / | (1 - (2409.1 + 90.3) / 6075) |
| = | 0.53570154 | / | 0.58857613 |
| | = | 0.9102 |
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 |
| = | 3370.1 | / | 2643.4 |
| | = | 1.2749 |
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)) |
| = | (162 / (162 + 90.3)) | / | (230.5 / (230.5 + 186.9)) |
| = | 0.64209275 | / | 0.55222808 |
| | = | 1.1627 |
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) |
| = | (608.3 / 3370.1) | / | (497.2 / 2643.4) |
| = | 0.18049909 | / | 0.18809109 |
| | = | 0.9596 |
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) |
| = | ((1597.3 + 3036) / 7566.9) | / | ((1758.1 + 2053.6) / 6075) |
| = | 0.61231151 | / | 0.62744033 |
| | = | 0.9759 |
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 |
| = | (208 - 0 | - | 434) | / | 7566.9 |
| | = | -0.0299 |
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.
Ingenico Group has a M-score of -2.49 suggests that the company is unlikely to be a manipulator.
My Portfolios
Create New Portfolio
Portfolio Contest
My Gurus
Personalize
Premium Gurus 
125.15 
(0%) Nov. 30
Email Alerts
Stock PDF
RSS
Website
Sources
Download
Manual of Stocks™ Web APP
WBO:INGE has been successfully added to your 
