Huber& Suhner AG (XSWX:HUBN) Beneish M-Score : -2.84 (As of Apr. 26, 2024)

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What is Huber& Suhner AG 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 -2.84 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Huber& Suhner AG's Beneish M-Score or its related term are showing as below:

XSWX:HUBN' s Beneish M-Score Range Over the Past 10 Years
Min: -3.01 Med: -2.72 Max: -2.34
Current: -2.84

During the past 13 years, the highest Beneish M-Score of Huber& Suhner AG was -2.34. The lowest was -3.01. And the median was -2.72.

Huber& Suhner AG Beneish M-Score Historical Data

The historical data trend for Huber& Suhner AG'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.

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Huber& Suhner AG Beneish M-Score Chart

Huber& Suhner AG Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-3.01

-2.70

-2.56

-2.34

-2.84

Huber& Suhner AG Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Beneish M-Score	Get a 7-Day Free Trial															-2.56	-	-2.34	-	-2.84

Competitive Comparison of Huber& Suhner AG's Beneish M-Score

For the Communication Equipment subindustry, Huber& Suhner AG'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.

Huber& Suhner AG's Beneish M-Score Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Huber& Suhner AG's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Huber& Suhner AG's Beneish M-Score falls into.

Huber& Suhner AG 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 Huber& Suhner AG 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 * 0.9038

0.528 * 1.01

0.404 * 1.1638

0.892 * 0.8916

0.115 * 1.0243

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0516

4.679 * -0.066201

0.327 * 0.799

-2.84

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was CHF156.8 Mil.
Revenue was CHF851.1 Mil.
Gross Profit was CHF300.6 Mil.
Total Current Assets was CHF484.0 Mil.
Total Assets was CHF777.0 Mil.
Property, Plant and Equipment(Net PPE) was CHF226.6 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF32.9 Mil.
Selling, General, & Admin. Expense(SGA) was CHF169.3 Mil.
Total Current Liabilities was CHF136.3 Mil.
Long-Term Debt & Capital Lease Obligation was CHF0.0 Mil.
Net Income was CHF64.2 Mil.
Gross Profit was CHF0.0 Mil.
Cash Flow from Operations was CHF115.7 Mil.

Total Receivables was CHF194.6 Mil.
Revenue was CHF954.6 Mil.
Gross Profit was CHF340.5 Mil.
Total Current Assets was CHF540.2 Mil.
Total Assets was CHF815.0 Mil.
Property, Plant and Equipment(Net PPE) was CHF214.9 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF32.1 Mil.
Selling, General, & Admin. Expense(SGA) was CHF180.6 Mil.
Total Current Liabilities was CHF179.0 Mil.
Long-Term Debt & Capital Lease Obligation was CHF0.0 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)
	=	(156.794 / 851.062)	/	(194.591 / 954.564)
	=	0.184233	/	0.203853
	=	0.9038

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)
	=	(340.479 / 954.564)	/	(300.569 / 851.062)
	=	0.356685	/	0.353169
	=	1.01

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 - (483.95 + 226.554) / 777.026)	/	(1 - (540.164 + 214.867) / 814.983)
	=	0.085611	/	0.073562
	=	1.1638

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
	=	851.062	/	954.564
	=	0.8916

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))
	=	(32.112 / (32.112 + 214.867))	/	(32.94 / (32.94 + 226.554))
	=	0.130019	/	0.126939
	=	1.0243

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)
	=	(169.286 / 851.062)	/	(180.557 / 954.564)
	=	0.198911	/	0.189151
	=	1.0516

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)
	=	((0 + 136.336) / 777.026)	/	((0 + 178.969) / 814.983)
	=	0.175459	/	0.219598
	=	0.799

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
	=	(64.221 - 0	-	115.661)	/	777.026
	=	-0.066201

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.

Huber& Suhner AG has a M-score of -2.84 suggests that the company is unlikely to be a manipulator.

Huber& Suhner AG Beneish M-Score Related Terms

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Huber& Suhner AG (XSWX:HUBN) Business Description

Industry

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HUBNz:UK

Address

Degersheimerstrasse 14, Herisau, CHE, 9100

Website

https://www.hubersuhner.com

Huber& Suhner AG is a Switzerland-based company that manufactures and distributes electrical and optical connectivity systems and components that serve communication, transportation, aerospace, defense, testing and measurement, and industrial end markets. Its product portfolio includes radio frequency and microwave products; fiber-optic products involving ultra-high data transmission speeds; low-frequency products such as databus, signal, and power cables; and passive components such as cables, connectors, assemblies, and antennas.

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