Electra Consumer Products Beneish M-Score Historical Data
The historical data trend for Electra Consumer Products'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.
Electra Consumer Products Beneish M-Score Chart
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Electra Consumer Products Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.87 |
-2.56 |
-1.41 |
-2.57 |
-2.90 |
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Electra Consumer Products Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-2.36 |
-2.29 |
-2.53 |
-2.90 |
-2.91 |
Competitive Comparison of Electra Consumer Products's Beneish M-Score
For the Consumer Electronics subindustry, Electra Consumer Products'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.
Electra Consumer Products's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Electra Consumer Products's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Electra Consumer Products's Beneish M-Score falls into.
Electra Consumer Products 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 Electra Consumer Products 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 * 0.822 | + | 0.528 * 1.0416 | + | 0.404 * 0.8943 | + | 0.892 * 1.0902 | + | 0.115 * 0.9082 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9204 | + | 4.679 * -0.068569 | - | 0.327 * 1.0346 |
| = | -2.91 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was ₪827 Mil.
Revenue was 1759.091 + 1611.713 + 1841.762 + 1545.97 = ₪6,759 Mil.
Gross Profit was 516.162 + 478.587 + 517.767 + 407.214 = ₪1,920 Mil.
Total Current Assets was ₪2,482 Mil.
Total Assets was ₪7,930 Mil.
Property, Plant and Equipment(Net PPE) was ₪2,991 Mil.
Depreciation, Depletion and Amortization(DDA) was ₪474 Mil.
Selling, General, & Admin. Expense(SGA) was ₪398 Mil.
Total Current Liabilities was ₪3,218 Mil.
Long-Term Debt & Capital Lease Obligation was ₪3,374 Mil.
Net Income was 18.576 + -79.249 + 9.868 + -21.371 = ₪-72 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₪0 Mil.
Cash Flow from Operations was 102.752 + 292.829 + 108.106 + -32.125 = ₪472 Mil.
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Total Receivables was ₪923 Mil.
Revenue was 1469.526 + 1521.726 + 1684.645 + 1523.448 = ₪6,199 Mil.
Gross Profit was 430.347 + 483.663 + 474.794 + 445.355 = ₪1,834 Mil.
Total Current Assets was ₪2,450 Mil.
Total Assets was ₪7,139 Mil.
Property, Plant and Equipment(Net PPE) was ₪2,216 Mil.
Depreciation, Depletion and Amortization(DDA) was ₪314 Mil.
Selling, General, & Admin. Expense(SGA) was ₪397 Mil.
Total Current Liabilities was ₪2,999 Mil.
Long-Term Debt & Capital Lease Obligation was ₪2,737 Mil.
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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) |
| = | (827.098 / 6758.536) | / | (922.984 / 6199.345) |
| = | 0.122378 | / | 0.148884 |
| | = | 0.822 |
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) |
| = | (1834.159 / 6199.345) | / | (1919.73 / 6758.536) |
| = | 0.295863 | / | 0.284045 |
| | = | 1.0416 |
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 - (2482.276 + 2990.688) / 7929.768) | / | (1 - (2449.615 + 2216.373) / 7139.224) |
| = | 0.30982 | / | 0.346429 |
| | = | 0.8943 |
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 |
| = | 6758.536 | / | 6199.345 |
| | = | 1.0902 |
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)) |
| = | (314.452 / (314.452 + 2216.373)) | / | (474.024 / (474.024 + 2990.688)) |
| = | 0.124249 | / | 0.136815 |
| | = | 0.9082 |
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) |
| = | (398.122 / 6758.536) | / | (396.784 / 6199.345) |
| = | 0.058907 | / | 0.064004 |
| | = | 0.9204 |
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) |
| = | ((3373.78 + 3218.345) / 7929.768) | / | ((2736.933 + 2999.371) / 7139.224) |
| = | 0.831314 | / | 0.803491 |
| | = | 1.0346 |
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 |
| = | (-72.176 - 0 | - | 471.562) | / | 7929.768 |
| | = | -0.068569 |
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.
Electra Consumer Products has a M-score of -2.91 suggests that the company is unlikely to be a manipulator.
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