Tesla Beneish M-Score Historical Data
The historical data trend for Tesla'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.
Tesla Beneish M-Score Chart
|
Tesla Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.47 |
-2.71 |
-2.47 |
-2.04 |
-1.63 |
|
Tesla Quarterly Data
|
|
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.12 |
-1.75 |
-2.05 |
-1.63 |
-1.63 |
Competitive Comparison of Tesla's Beneish M-Score
For the Auto Manufacturers subindustry, Tesla'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.
Tesla's Beneish M-Score Distribution in the Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Tesla's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Tesla's Beneish M-Score falls into.
Tesla 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 Tesla 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 * 1.1793 | + | 0.528 * 1.3012 | + | 0.404 * 1.8437 | + | 0.892 * 1.1012 | + | 0.115 * 0.9737 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1487 | + | 4.679 * 0.021076 | - | 0.327 * 0.9254 |
| = | -1.63 |
* 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 $3,887 Mil.
Revenue was 21301 + 25167 + 23350 + 24927 = $94,745 Mil.
Gross Profit was 3696 + 4438 + 4178 + 4533 = $16,845 Mil.
Total Current Assets was $50,535 Mil.
Total Assets was $109,226 Mil.
Property, Plant and Equipment(Net PPE) was $46,701 Mil.
Depreciation, Depletion and Amortization(DDA) was $4,867 Mil.
Selling, General, & Admin. Expense(SGA) was $5,098 Mil.
Total Current Liabilities was $29,453 Mil.
Long-Term Debt & Capital Lease Obligation was $6,746 Mil.
Net Income was 1129 + 7930 + 1853 + 2703 = $13,615 Mil.
Non Operating Income was 108 + -145 + 37 + 328 = $328 Mil.
Cash Flow from Operations was 242 + 4370 + 3308 + 3065 = $10,985 Mil.
|
Total Receivables was $2,993 Mil.
Revenue was 23329 + 24318 + 21454 + 16934 = $86,035 Mil.
Gross Profit was 4511 + 5777 + 5382 + 4234 = $19,904 Mil.
Total Current Assets was $42,997 Mil.
Total Assets was $86,833 Mil.
Property, Plant and Equipment(Net PPE) was $38,666 Mil.
Depreciation, Depletion and Amortization(DDA) was $3,913 Mil.
Selling, General, & Admin. Expense(SGA) was $4,030 Mil.
Total Current Liabilities was $27,436 Mil.
Long-Term Debt & Capital Lease Obligation was $3,661 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) |
| = | (3887 / 94745) | / | (2993 / 86035) |
| = | 0.041026 | / | 0.034788 |
| | = | 1.1793 |
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) |
| = | (19904 / 86035) | / | (16845 / 94745) |
| = | 0.231348 | / | 0.177793 |
| | = | 1.3012 |
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 - (50535 + 46701) / 109226) | / | (1 - (42997 + 38666) / 86833) |
| = | 0.109772 | / | 0.05954 |
| | = | 1.8437 |
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 |
| = | 94745 | / | 86035 |
| | = | 1.1012 |
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)) |
| = | (3913 / (3913 + 38666)) | / | (4867 / (4867 + 46701)) |
| = | 0.0919 | / | 0.09438 |
| | = | 0.9737 |
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) |
| = | (5098 / 94745) | / | (4030 / 86035) |
| = | 0.053808 | / | 0.046841 |
| | = | 1.1487 |
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) |
| = | ((6746 + 29453) / 109226) | / | ((3661 + 27436) / 86833) |
| = | 0.331414 | / | 0.358124 |
| | = | 0.9254 |
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 |
| = | (13615 - 328 | - | 10985) | / | 109226 |
| | = | 0.021076 |
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.
Tesla has a M-score of -1.63 signals that the company is likely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
TSLA has been successfully added to your