Adient Beneish M-Score Historical Data
The historical data trend for Adient'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.
Adient Beneish M-Score Chart
|
Adient Annual Data
|
|
Trend |
Sep14 |
Sep15 |
Sep16 |
Sep17 |
Sep18 |
Sep19 |
Sep20 |
Sep21 |
Sep22 |
Sep23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.94 |
-2.88 |
-2.90 |
-2.43 |
-2.77 |
|
Adient Quarterly Data
|
|
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.68 |
-2.75 |
-2.81 |
-2.77 |
-2.81 |
Competitive Comparison of Adient's Beneish M-Score
For the Auto Parts subindustry, Adient'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.
Adient's Beneish M-Score Distribution in the Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Adient's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Adient's Beneish M-Score falls into.
Adient 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 Adient 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 * 0.8838 | + | 0.528 * 0.8839 | + | 0.404 * 1.012 | + | 0.892 * 1.0709 | + | 0.115 * 0.9921 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9582 | + | 4.679 * -0.051737 | - | 0.327 * 0.9819 |
| = | -2.81 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $1,661 Mil.
Revenue was 3660 + 3729 + 4055 + 3912 = $15,356 Mil.
Gross Profit was 246 + 250 + 302 + 250 = $1,048 Mil.
Total Current Assets was $4,074 Mil.
Total Assets was $9,297 Mil.
Property, Plant and Equipment(Net PPE) was $1,401 Mil.
Depreciation, Depletion and Amortization(DDA) was $342 Mil.
Selling, General, & Admin. Expense(SGA) was $589 Mil.
Total Current Liabilities was $3,548 Mil.
Long-Term Debt & Capital Lease Obligation was $2,403 Mil.
Net Income was 20 + 135 + 73 + -15 = $213 Mil.
Non Operating Income was 11 + 16 + 18 + -15 = $30 Mil.
Cash Flow from Operations was 41 + 294 + 203 + 126 = $664 Mil.
|
Total Receivables was $1,755 Mil.
Revenue was 3699 + 3650 + 3485 + 3506 = $14,340 Mil.
Gross Profit was 231 + 283 + 173 + 178 = $865 Mil.
Total Current Assets was $4,087 Mil.
Total Assets was $9,273 Mil.
Property, Plant and Equipment(Net PPE) was $1,419 Mil.
Depreciation, Depletion and Amortization(DDA) was $343 Mil.
Selling, General, & Admin. Expense(SGA) was $574 Mil.
Total Current Liabilities was $3,418 Mil.
Long-Term Debt & Capital Lease Obligation was $2,627 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) |
| = | (1661 / 15356) | / | (1755 / 14340) |
| = | 0.108166 | / | 0.122385 |
| | = | 0.8838 |
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) |
| = | (865 / 14340) | / | (1048 / 15356) |
| = | 0.060321 | / | 0.068247 |
| | = | 0.8839 |
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 - (4074 + 1401) / 9297) | / | (1 - (4087 + 1419) / 9273) |
| = | 0.4111 | / | 0.406233 |
| | = | 1.012 |
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 |
| = | 15356 | / | 14340 |
| | = | 1.0709 |
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)) |
| = | (343 / (343 + 1419)) | / | (342 / (342 + 1401)) |
| = | 0.194665 | / | 0.196213 |
| | = | 0.9921 |
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) |
| = | (589 / 15356) | / | (574 / 14340) |
| = | 0.038356 | / | 0.040028 |
| | = | 0.9582 |
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) |
| = | ((2403 + 3548) / 9297) | / | ((2627 + 3418) / 9273) |
| = | 0.640099 | / | 0.651893 |
| | = | 0.9819 |
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 |
| = | (213 - 30 | - | 664) | / | 9297 |
| | = | -0.051737 |
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.
Adient has a M-score of -2.81 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
ADNT has been successfully added to your