Nexen Beneish M-Score Historical Data
The historical data trend for Nexen'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.
Nexen Beneish M-Score Chart
|
Nexen Annual Data
|
|
Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.59 |
-2.42 |
-2.22 |
-2.89 |
-2.62 |
|
Nexen 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.89 |
-2.89 |
-2.80 |
-2.65 |
-2.62 |
Competitive Comparison of Nexen's Beneish M-Score
For the Auto Parts subindustry, Nexen'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.
Nexen's Beneish M-Score Distribution in the Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Nexen's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Nexen's Beneish M-Score falls into.
Nexen 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 Nexen 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 * 1.1089 | + | 0.528 * 0.9853 | + | 0.404 * 0.7962 | + | 0.892 * 1.0587 | + | 0.115 * 0.8803 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0806 | + | 4.679 * -0.038185 | - | 0.327 * 0.9812 |
| = | -2.62 |
* 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 ₩611,821 Mil.
Revenue was 788423.027 + 810020.825 + 852201.926 + 763658.227 = ₩3,214,304 Mil.
Gross Profit was 201017.56 + 232815.166 + 246446.143 + 199937.423 = ₩880,216 Mil.
Total Current Assets was ₩2,090,596 Mil.
Total Assets was ₩5,422,552 Mil.
Property, Plant and Equipment(Net PPE) was ₩2,835,169 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩248,715 Mil.
Selling, General, & Admin. Expense(SGA) was ₩429,621 Mil.
Total Current Liabilities was ₩1,555,103 Mil.
Long-Term Debt & Capital Lease Obligation was ₩913,462 Mil.
Net Income was 27415.838 + 4349.032 + 28380.471 + 25761.682 = ₩85,907 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 245789.515 + 25851.131 + 3825.654 + 17503.146 = ₩292,969 Mil.
|
Total Receivables was ₩521,143 Mil.
Revenue was 758957.984 + 777023.415 + 777984.407 + 722096.049 = ₩3,036,062 Mil.
Gross Profit was 237538.331 + 225151.781 + 195931.322 + 160564.793 = ₩819,186 Mil.
Total Current Assets was ₩1,745,855 Mil.
Total Assets was ₩5,060,957 Mil.
Property, Plant and Equipment(Net PPE) was ₩2,732,747 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩208,849 Mil.
Selling, General, & Admin. Expense(SGA) was ₩375,516 Mil.
Total Current Liabilities was ₩1,451,194 Mil.
Long-Term Debt & Capital Lease Obligation was ₩896,781 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) |
| = | (611820.799 / 3214304.005) | / | (521143.168 / 3036061.855) |
| = | 0.190343 | / | 0.171651 |
| | = | 1.1089 |
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) |
| = | (819186.227 / 3036061.855) | / | (880216.292 / 3214304.005) |
| = | 0.269819 | / | 0.273844 |
| | = | 0.9853 |
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 - (2090595.587 + 2835168.517) / 5422551.861) | / | (1 - (1745855.254 + 2732746.734) / 5060957.368) |
| = | 0.091615 | / | 0.115068 |
| | = | 0.7962 |
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 |
| = | 3214304.005 | / | 3036061.855 |
| | = | 1.0587 |
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)) |
| = | (208848.68 / (208848.68 + 2732746.734)) | / | (248715.225 / (248715.225 + 2835168.517)) |
| = | 0.070998 | / | 0.08065 |
| | = | 0.8803 |
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) |
| = | (429620.644 / 3214304.005) | / | (375516.036 / 3036061.855) |
| = | 0.133659 | / | 0.123685 |
| | = | 1.0806 |
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) |
| = | ((913462.003 + 1555102.693) / 5422551.861) | / | ((896780.94 + 1451193.915) / 5060957.368) |
| = | 0.45524 | / | 0.463939 |
| | = | 0.9812 |
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 |
| = | (85907.023 - 0 | - | 292969.446) | / | 5422551.861 |
| | = | -0.038185 |
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.
Nexen has a M-score of -2.62 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
XKRX:005720 has been successfully added to your