Crane NXT Co Beneish M-Score Historical Data
The historical data trend for Crane NXT Co'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.
Crane NXT Co Beneish M-Score Chart
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Crane NXT Co Annual Data
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Trend |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
- |
- |
-2.54 |
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Crane NXT Co Quarterly Data
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Dec19 |
Dec20 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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- |
- |
0.14 |
-2.54 |
-3.21 |
Competitive Comparison of Crane NXT Co's Beneish M-Score
For the Specialty Industrial Machinery subindustry, Crane NXT Co'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.
Crane NXT Co's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Crane NXT Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Crane NXT Co's Beneish M-Score falls into.
Crane NXT Co 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 Crane NXT Co 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 * 0.3555 | + | 0.528 * 0.9909 | + | 0.404 * 1.1772 | + | 0.892 * 1.0295 | + | 0.115 * 0.5153 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0929 | + | 4.679 * -0.031639 | - | 0.327 * 1.0429 |
| = | -3.21 |
* 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 $183 Mil.
Revenue was 313.6 + 356.9 + 352.9 + 352.4 = $1,376 Mil.
Gross Profit was 152.4 + 165.5 + 165.5 + 168.4 = $652 Mil.
Total Current Assets was $629 Mil.
Total Assets was $2,099 Mil.
Property, Plant and Equipment(Net PPE) was $255 Mil.
Depreciation, Depletion and Amortization(DDA) was $77 Mil.
Selling, General, & Admin. Expense(SGA) was $372 Mil.
Total Current Liabilities was $297 Mil.
Long-Term Debt & Capital Lease Obligation was $640 Mil.
Net Income was 37.8 + 49.5 + 51.9 + 43.2 = $182 Mil.
Non Operating Income was -2.1 + -1.1 + 0.7 + 1 = $-2 Mil.
Cash Flow from Operations was 9.5 + 78.5 + 102.8 + 59.5 = $250 Mil.
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Total Receivables was $500 Mil.
Revenue was 329.1 + 338.2 + 335.1 + 334 = $1,336 Mil.
Gross Profit was 154.7 + 161.3 + 160.2 + 151.2 = $627 Mil.
Total Current Assets was $1,696 Mil.
Total Assets was $4,336 Mil.
Property, Plant and Equipment(Net PPE) was $508 Mil.
Depreciation, Depletion and Amortization(DDA) was $69 Mil.
Selling, General, & Admin. Expense(SGA) was $331 Mil.
Total Current Liabilities was $975 Mil.
Long-Term Debt & Capital Lease Obligation was $881 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) |
| = | (182.8 / 1375.8) | / | (499.5 / 1336.4) |
| = | 0.132868 | / | 0.373765 |
| | = | 0.3555 |
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) |
| = | (627.4 / 1336.4) | / | (651.8 / 1375.8) |
| = | 0.46947 | / | 0.473761 |
| | = | 0.9909 |
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 - (629.1 + 254.7) / 2098.7) | / | (1 - (1695.8 + 508) / 4336) |
| = | 0.578882 | / | 0.491744 |
| | = | 1.1772 |
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 |
| = | 1375.8 | / | 1336.4 |
| | = | 1.0295 |
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)) |
| = | (69.1 / (69.1 + 508)) | / | (77.1 / (77.1 + 254.7)) |
| = | 0.119737 | / | 0.232369 |
| | = | 0.5153 |
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) |
| = | (372.3 / 1375.8) | / | (330.9 / 1336.4) |
| = | 0.270606 | / | 0.247606 |
| | = | 1.0929 |
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) |
| = | ((639.6 + 296.9) / 2098.7) | / | ((880.7 + 974.5) / 4336) |
| = | 0.446229 | / | 0.42786 |
| | = | 1.0429 |
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 |
| = | (182.4 - -1.5 | - | 250.3) | / | 2098.7 |
| | = | -0.031639 |
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.
Crane NXT Co has a M-score of -3.21 suggests that the company is unlikely to be a manipulator.
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