Helios Technologies Beneish M-Score Historical Data
The historical data trend for Helios Technologies'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.
Helios Technologies Beneish M-Score Chart
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Helios Technologies Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.62 |
-2.39 |
-2.03 |
-2.48 |
-2.68 |
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Helios Technologies Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
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-2.48 |
-2.56 |
-2.61 |
-2.56 |
-2.68 |
Competitive Comparison of Helios Technologies's Beneish M-Score
For the Specialty Industrial Machinery subindustry, Helios Technologies'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.
Helios Technologies's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Helios Technologies's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Helios Technologies's Beneish M-Score falls into.
Helios Technologies 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 Helios Technologies 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 * 0.9876 | + | 0.528 * 1.0765 | + | 0.404 * 0.9882 | + | 0.892 * 0.9438 | + | 0.115 * 1.0379 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1872 | + | 4.679 * -0.029427 | - | 0.327 * 1.0242 |
| = | -2.68 |
* 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 $126.1 Mil.
Revenue was 193.4 + 201.4 + 227.6 + 213.2 = $835.6 Mil.
Gross Profit was 55.2 + 59.7 + 75.8 + 71 = $261.7 Mil.
Total Current Assets was $396.7 Mil.
Total Assets was $1,590.4 Mil.
Property, Plant and Equipment(Net PPE) was $227.9 Mil.
Depreciation, Depletion and Amortization(DDA) was $63.8 Mil.
Selling, General, & Admin. Expense(SGA) was $148.9 Mil.
Total Current Liabilities was $144.9 Mil.
Long-Term Debt & Capital Lease Obligation was $498.1 Mil.
Net Income was 3.4 + 3.5 + 16.8 + 13.9 = $37.6 Mil.
Non Operating Income was 1.1 + -0.1 + 0.1 + -0.6 = $0.5 Mil.
Cash Flow from Operations was 33.7 + 11.8 + 26.1 + 12.3 = $83.9 Mil.
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Total Receivables was $135.3 Mil.
Revenue was 196 + 207.2 + 241.7 + 240.5 = $885.4 Mil.
Gross Profit was 63.3 + 69.3 + 82.3 + 83.6 = $298.5 Mil.
Total Current Assets was $388.5 Mil.
Total Assets was $1,463.7 Mil.
Property, Plant and Equipment(Net PPE) was $175.7 Mil.
Depreciation, Depletion and Amortization(DDA) was $51.6 Mil.
Selling, General, & Admin. Expense(SGA) was $132.9 Mil.
Total Current Liabilities was $152.3 Mil.
Long-Term Debt & Capital Lease Obligation was $425.5 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) |
| = | (126.1 / 835.6) | / | (135.3 / 885.4) |
| = | 0.15091 | / | 0.152812 |
| | = | 0.9876 |
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) |
| = | (298.5 / 885.4) | / | (261.7 / 835.6) |
| = | 0.337136 | / | 0.313188 |
| | = | 1.0765 |
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 - (396.7 + 227.9) / 1590.4) | / | (1 - (388.5 + 175.7) / 1463.7) |
| = | 0.607269 | / | 0.614538 |
| | = | 0.9882 |
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 |
| = | 835.6 | / | 885.4 |
| | = | 0.9438 |
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)) |
| = | (51.6 / (51.6 + 175.7)) | / | (63.8 / (63.8 + 227.9)) |
| = | 0.227013 | / | 0.218718 |
| | = | 1.0379 |
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) |
| = | (148.9 / 835.6) | / | (132.9 / 885.4) |
| = | 0.178195 | / | 0.150102 |
| | = | 1.1872 |
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) |
| = | ((498.1 + 144.9) / 1590.4) | / | ((425.5 + 152.3) / 1463.7) |
| = | 0.404301 | / | 0.394753 |
| | = | 1.0242 |
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 |
| = | (37.6 - 0.5 | - | 83.9) | / | 1590.4 |
| | = | -0.029427 |
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.
Helios Technologies has a M-score of -2.68 suggests that the company is unlikely to be a manipulator.
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