Metallus Beneish M-Score Historical Data
The historical data trend for Metallus'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.
Metallus Beneish M-Score Chart
|
Metallus Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-1.71 |
-3.69 |
-2.63 |
-2.84 |
-2.71 |
|
Metallus 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.84 |
-2.65 |
-2.34 |
-2.38 |
-2.71 |
Competitive Comparison of Metallus's Beneish M-Score
For the Steel subindustry, Metallus'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.
Metallus's Beneish M-Score Distribution in the Steel Industry
For the Steel industry and Basic Materials sector, Metallus's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Metallus's Beneish M-Score falls into.
Metallus 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 Metallus 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 * 1.3917 | + | 0.528 * 0.696 | + | 0.404 * 0.5015 | + | 0.892 * 1.0244 | + | 0.115 * 1.0318 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.119 | + | 4.679 * -0.03565 | - | 0.327 * 1.2141 |
| = | -2.71 |
* 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 $113 Mil.
Revenue was 328.1 + 354.2 + 356.6 + 323.5 = $1,362 Mil.
Gross Profit was 41.4 + 51 + 53.7 + 40.4 = $187 Mil.
Total Current Assets was $657 Mil.
Total Assets was $1,175 Mil.
Property, Plant and Equipment(Net PPE) was $504 Mil.
Depreciation, Depletion and Amortization(DDA) was $57 Mil.
Selling, General, & Admin. Expense(SGA) was $85 Mil.
Total Current Liabilities was $248 Mil.
Long-Term Debt & Capital Lease Obligation was $6 Mil.
Net Income was 1.3 + 24.8 + 28.9 + 14.4 = $69 Mil.
Non Operating Income was -18.5 + 2.3 + 4.9 + -2.7 = $-14 Mil.
Cash Flow from Operations was 74.1 + 28.1 + 13.3 + 9.8 = $125 Mil.
|
Total Receivables was $79 Mil.
Revenue was 245.4 + 316.8 + 415.7 + 352 = $1,330 Mil.
Gross Profit was -20.3 + 5.6 + 81.4 + 60 = $127 Mil.
Total Current Assets was $557 Mil.
Total Assets was $1,082 Mil.
Property, Plant and Equipment(Net PPE) was $499 Mil.
Depreciation, Depletion and Amortization(DDA) was $58 Mil.
Selling, General, & Admin. Expense(SGA) was $74 Mil.
Total Current Liabilities was $187 Mil.
Long-Term Debt & Capital Lease Obligation was $7 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) |
| = | (113.2 / 1362.4) | / | (79.4 / 1329.9) |
| = | 0.083089 | / | 0.059704 |
| | = | 1.3917 |
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) |
| = | (126.7 / 1329.9) | / | (186.5 / 1362.4) |
| = | 0.09527 | / | 0.136891 |
| | = | 0.696 |
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 - (656.8 + 503.9) / 1175.3) | / | (1 - (556.6 + 498.6) / 1082) |
| = | 0.012422 | / | 0.024769 |
| | = | 0.5015 |
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 |
| = | 1362.4 | / | 1329.9 |
| | = | 1.0244 |
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)) |
| = | (58.3 / (58.3 + 498.6)) | / | (56.9 / (56.9 + 503.9)) |
| = | 0.104687 | / | 0.101462 |
| | = | 1.0318 |
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) |
| = | (84.6 / 1362.4) | / | (73.8 / 1329.9) |
| = | 0.062096 | / | 0.055493 |
| | = | 1.119 |
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) |
| = | ((6.4 + 248.4) / 1175.3) | / | ((6.5 + 186.7) / 1082) |
| = | 0.216796 | / | 0.178558 |
| | = | 1.2141 |
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 |
| = | (69.4 - -14 | - | 125.3) | / | 1175.3 |
| | = | -0.03565 |
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.
Metallus has a M-score of -2.71 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
MTUS has been successfully added to your