Swisslog Holding AG (XSWX:SLOG) Beneish M-Score : 0.00 (As of Jun. 14, 2024)

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What is Swisslog Holding 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.

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

During the past 12 years, the highest Beneish M-Score of Swisslog Holding AG was 0.00. The lowest was 0.00. And the median was 0.00.

Swisslog Holding AG Beneish M-Score Historical Data

The historical data trend for Swisslog Holding 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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Swisslog Holding AG Beneish M-Score Chart

Swisslog Holding AG Annual Data

Trend

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Beneish M-Score

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Swisslog Holding AG Semi-Annual Data
	Jun09	Dec09	Jun10	Dec10	Jun11	Dec11	Jun12	Dec12	Jun13	Dec13	Jun14	Dec14
Beneish M-Score	Get a 7-Day Free Trial							-	-	-	-	-

Competitive Comparison of Swisslog Holding AG's Beneish M-Score

For the Specialty Industrial Machinery subindustry, Swisslog Holding 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.

Swisslog Holding AG's Beneish M-Score Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Swisslog Holding AG's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Swisslog Holding AG's Beneish M-Score falls into.

Swisslog Holding 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 Swisslog Holding 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 * 1.0021

0.528 * 1.0805

0.404 * 0.944

0.892 * 1.0585

0.115 * 0.9964

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.022601

0.327 * 1.0266

-2.52

This Year (Dec14) TTM:

Last Year (Dec13) TTM:

Total Receivables was CHF113.5 Mil.
Revenue was CHF669.6 Mil.
Gross Profit was CHF321.6 Mil.
Total Current Assets was CHF325.2 Mil.
Total Assets was CHF469.0 Mil.
Property, Plant and Equipment(Net PPE) was CHF15.8 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF10.9 Mil.
Selling, General, & Admin. Expense(SGA) was CHF0.0 Mil.
Total Current Liabilities was CHF294.1 Mil.
Long-Term Debt & Capital Lease Obligation was CHF0.0 Mil.
Net Income was CHF4.4 Mil.
Gross Profit was CHF0.0 Mil.
Cash Flow from Operations was CHF15.0 Mil.

Total Receivables was CHF107.0 Mil.
Revenue was CHF632.6 Mil.
Gross Profit was CHF328.3 Mil.
Total Current Assets was CHF278.1 Mil.
Total Assets was CHF410.9 Mil.
Property, Plant and Equipment(Net PPE) was CHF14.0 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF9.6 Mil.
Selling, General, & Admin. Expense(SGA) was CHF0.0 Mil.
Total Current Liabilities was CHF251.0 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)
	=	(113.5 / 669.6)	/	(107 / 632.6)
	=	0.169504	/	0.169143
	=	1.0021

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)
	=	(328.3 / 632.6)	/	(321.6 / 669.6)
	=	0.518969	/	0.480287
	=	1.0805

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 - (325.2 + 15.8) / 469)	/	(1 - (278.1 + 14) / 410.9)
	=	0.272921	/	0.289121
	=	0.944

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
	=	669.6	/	632.6
	=	1.0585

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))
	=	(9.6 / (9.6 + 14))	/	(10.9 / (10.9 + 15.8))
	=	0.40678	/	0.40824
	=	0.9964

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)
	=	(0 / 669.6)	/	(0 / 632.6)
	=	0	/	0
	=	1

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 + 294.1) / 469)	/	((0 + 251) / 410.9)
	=	0.627079	/	0.610854
	=	1.0266

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
	=	(4.4 - 0	-	15)	/	469
	=	-0.022601

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.

Swisslog Holding AG has a M-score of -2.52 suggests that the company is unlikely to be a manipulator.

Swisslog Holding AG Beneish M-Score Related Terms

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Swisslog Holding AG (XSWX:SLOG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Swisslog Holding AG (XSWX:SLOG) » Definitions » Beneish M-Score

Traded in Other Exchanges

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Address

Website

http://www.swisslog.com

Swisslog Holding AG was founded in 1898 and is headquartered in Buchs, Switzerland. The Company provides integrated logistics solutions. The company operates through two segments, Healthcare Solutions and Warehouse & Distribution Solutions. The Healthcare Solutions segment provides logistics automation solutions for the movement and processing of materials and medications within and throughout healthcare facilities. It offers automated materials transport systems that transport medication, specimen, and basic supplies in hospitals; and automated drug management systems, which offer medication management for hospital pharmacies. This segment also provides various services, such as consulting, design, manufacturing, installation, and training, as well as customer support, including hotline, maintenance, and modernization services. The Warehouse & Distribution Solutions segment delivers industry-specific solutions for automated warehouses and distribution centers. The segment also provides consulting services, software solutions, logistic equipment, general contracting, implementation, and lifetime support services.

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