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Ingenico Group Beneish M-Score

: 0.00 (As of Today)
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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.

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

During the past 13 years, the highest Beneish M-Score of Ingenico Group was 0.00. The lowest was 0.00. And the median was 0.00.


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.

* Premium members only.

Ingenico Group Annual Data
Trend Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19
Beneish M-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - -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.


Ingenico Group Beneish M-Score Related Terms

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Ingenico Group Business Description

Ingenico Group logo
Comparable Companies
Traded in Other Exchanges
N/A
Address
28/32 boulevard de Grenelle, Paris, FRA, 75015
Ingenico Group SA is a provider of payment and transaction processing services. The company offers solutions under its Ingenico smart terminals, payment services, and e-payment brands. Products and solutions include in-store payment terminals using near field technologies, payment and transaction management services, and online and mobile commerce solutions such as data analytics, fraud-management solutions, cross-border commerce, and various payment methods. Payment terminals generate the lion's share of revenue, which overall is earned across the globe. The largest region by revenue is EMEA.

Ingenico Group Headlines

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