Alpha Metallurgical Resources Beneish M-Score Historical Data
The historical data trend for Alpha Metallurgical Resources'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.
Alpha Metallurgical Resources Beneish M-Score Chart
|
Alpha Metallurgical Resources Annual Data
|
|
Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
-2.62 |
-7.86 |
-1.78 |
-2.38 |
-2.11 |
|
Alpha Metallurgical Resources 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.38 |
-2.42 |
-3.17 |
-2.42 |
-2.11 |
Competitive Comparison of Alpha Metallurgical Resources's Beneish M-Score
For the Coking Coal subindustry, Alpha Metallurgical Resources'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.
Alpha Metallurgical Resources's Beneish M-Score Distribution in the Steel Industry
For the Steel industry and Basic Materials sector, Alpha Metallurgical Resources's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Alpha Metallurgical Resources's Beneish M-Score falls into.
Alpha Metallurgical Resources 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 Alpha Metallurgical Resources 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 * 1.4789 | + | 0.528 * 1.4735 | + | 0.404 * 1.003 | + | 0.892 * 0.8464 | + | 0.115 * 1.0154 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.3593 | + | 4.679 * -0.044291 | - | 0.327 * 0.7415 |
| = | -2.11 |
* 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 $510 Mil.
Revenue was 959.991 + 741.82 + 858.371 + 911.235 = $3,471 Mil.
Gross Profit was 246.409 + 142.561 + 240.439 + 340.478 = $970 Mil.
Total Current Assets was $1,048 Mil.
Total Assets was $2,406 Mil.
Property, Plant and Equipment(Net PPE) was $1,040 Mil.
Depreciation, Depletion and Amortization(DDA) was $145 Mil.
Selling, General, & Admin. Expense(SGA) was $82 Mil.
Total Current Liabilities was $310 Mil.
Long-Term Debt & Capital Lease Obligation was $7 Mil.
Net Income was 176.016 + 93.814 + 181.355 + 270.771 = $722 Mil.
Non Operating Income was -10.197 + -7.274 + -4.048 + -1.117 = $-23 Mil.
Cash Flow from Operations was 199.353 + 157.2 + 317.219 + 177.387 = $851 Mil.
|
Total Receivables was $407 Mil.
Revenue was 823.448 + 869.768 + 1336.412 + 1071.964 = $4,102 Mil.
Gross Profit was 246.915 + 283.245 + 675.506 + 482.839 = $1,689 Mil.
Total Current Assets was $1,114 Mil.
Total Assets was $2,312 Mil.
Property, Plant and Equipment(Net PPE) was $894 Mil.
Depreciation, Depletion and Amortization(DDA) was $127 Mil.
Selling, General, & Admin. Expense(SGA) was $72 Mil.
Total Current Liabilities was $403 Mil.
Long-Term Debt & Capital Lease Obligation was $8 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) |
| = | (509.682 / 3471.417) | / | (407.21 / 4101.592) |
| = | 0.146822 | / | 0.099281 |
| | = | 1.4789 |
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) |
| = | (1688.505 / 4101.592) | / | (969.887 / 3471.417) |
| = | 0.411671 | / | 0.279392 |
| | = | 1.4735 |
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 - (1048.297 + 1040.152) / 2406.057) | / | (1 - (1114.421 + 893.707) / 2312.479) |
| = | 0.132004 | / | 0.131612 |
| | = | 1.003 |
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 |
| = | 3471.417 | / | 4101.592 |
| | = | 0.8464 |
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)) |
| = | (127.118 / (127.118 + 893.707)) | / | (145.392 / (145.392 + 1040.152)) |
| = | 0.124525 | / | 0.122637 |
| | = | 1.0154 |
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) |
| = | (82.39 / 3471.417) | / | (71.618 / 4101.592) |
| = | 0.023734 | / | 0.017461 |
| | = | 1.3593 |
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) |
| = | ((6.792 + 309.93) / 2406.057) | / | ((7.897 + 402.625) / 2312.479) |
| = | 0.131635 | / | 0.177525 |
| | = | 0.7415 |
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 |
| = | (721.956 - -22.636 | - | 851.159) | / | 2406.057 |
| | = | -0.044291 |
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.
Alpha Metallurgical Resources has a M-score of -2.11 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
AMR has been successfully added to your