Beacon Roofing Supply Beneish M-Score Historical Data
The historical data trend for Beacon Roofing Supply'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.
Beacon Roofing Supply Beneish M-Score Chart
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Beacon Roofing Supply Annual Data
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Trend |
Sep14 |
Sep15 |
Sep16 |
Sep17 |
Sep18 |
Sep19 |
Sep20 |
Sep21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.63 |
-3.08 |
-2.42 |
-2.25 |
-2.67 |
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Beacon Roofing Supply 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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-2.60 |
-2.77 |
-2.76 |
-2.67 |
-2.48 |
Competitive Comparison of Beacon Roofing Supply's Beneish M-Score
For the Industrial Distribution subindustry, Beacon Roofing Supply'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.
Beacon Roofing Supply's Beneish M-Score Distribution in the Industrial Distribution Industry
For the Industrial Distribution industry and Industrials sector, Beacon Roofing Supply's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Beacon Roofing Supply's Beneish M-Score falls into.
Beacon Roofing Supply 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 Beacon Roofing Supply 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 * 1.0791 | + | 0.528 * 1.0344 | + | 0.404 * 0.8976 | + | 0.892 * 1.0973 | + | 0.115 * 1.0761 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9735 | + | 4.679 * -0.018714 | - | 0.327 * 1.192 |
| = | -2.48 |
* 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 $1,189 Mil.
Revenue was 1912.4 + 2299.5 + 2584.3 + 2503.7 = $9,300 Mil.
Gross Profit was 473.2 + 592 + 672.6 + 636.2 = $2,374 Mil.
Total Current Assets was $3,381 Mil.
Total Assets was $6,819 Mil.
Property, Plant and Equipment(Net PPE) was $974 Mil.
Depreciation, Depletion and Amortization(DDA) was $180 Mil.
Selling, General, & Admin. Expense(SGA) was $1,498 Mil.
Total Current Liabilities was $1,807 Mil.
Long-Term Debt & Capital Lease Obligation was $3,145 Mil.
Net Income was 5.6 + 95.1 + 161.3 + 153.8 = $416 Mil.
Non Operating Income was -2.4 + 0 + 0 + 0 = $-2 Mil.
Cash Flow from Operations was -140.8 + 262.1 + 167 + 257.5 = $546 Mil.
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Total Receivables was $1,004 Mil.
Revenue was 1732.3 + 1969.4 + 2415.2 + 2358.2 = $8,475 Mil.
Gross Profit was 441.9 + 515.6 + 630.2 + 650.2 = $2,238 Mil.
Total Current Assets was $2,716 Mil.
Total Assets was $5,903 Mil.
Property, Plant and Equipment(Net PPE) was $811 Mil.
Depreciation, Depletion and Amortization(DDA) was $163 Mil.
Selling, General, & Admin. Expense(SGA) was $1,402 Mil.
Total Current Liabilities was $1,310 Mil.
Long-Term Debt & Capital Lease Obligation was $2,287 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) |
| = | (1188.5 / 9299.9) | / | (1003.7 / 8475.1) |
| = | 0.127797 | / | 0.118429 |
| | = | 1.0791 |
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) |
| = | (2237.9 / 8475.1) | / | (2374 / 9299.9) |
| = | 0.264056 | / | 0.255272 |
| | = | 1.0344 |
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 - (3380.8 + 974.3) / 6818.5) | / | (1 - (2716.4 + 810.8) / 5903.1) |
| = | 0.361282 | / | 0.402483 |
| | = | 0.8976 |
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 |
| = | 9299.9 | / | 8475.1 |
| | = | 1.0973 |
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)) |
| = | (163.3 / (163.3 + 810.8)) | / | (179.8 / (179.8 + 974.3)) |
| = | 0.167642 | / | 0.155792 |
| | = | 1.0761 |
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) |
| = | (1497.5 / 9299.9) | / | (1401.9 / 8475.1) |
| = | 0.161023 | / | 0.165414 |
| | = | 0.9735 |
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) |
| = | ((3145.4 + 1807.3) / 6818.5) | / | ((2286.9 + 1310.1) / 5903.1) |
| = | 0.726362 | / | 0.609341 |
| | = | 1.192 |
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 |
| = | (415.8 - -2.4 | - | 545.8) | / | 6818.5 |
| | = | -0.018714 |
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.
Beacon Roofing Supply has a M-score of -2.48 suggests that the company is unlikely to be a manipulator.
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