Dana Beneish M-Score Historical Data
The historical data trend for Dana'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.
Dana Beneish M-Score Chart
|
Dana Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.62 |
-2.24 |
-2.42 |
-2.91 |
-2.75 |
|
Dana 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.94 |
-2.99 |
-2.97 |
-2.75 |
-2.84 |
Competitive Comparison of Dana's Beneish M-Score
For the Auto Parts subindustry, Dana'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.
Dana's Beneish M-Score Distribution in the Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Dana's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Dana's Beneish M-Score falls into.
Dana 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 Dana 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 * 0.9396 | + | 0.528 * 0.8962 | + | 0.404 * 1.1007 | + | 0.892 * 0.9952 | + | 0.115 * 0.9378 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0634 | + | 4.679 * -0.059825 | - | 0.327 * 0.9918 |
| = | -2.85 |
* 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 €1,635 Mil.
Revenue was 2516.2 + 2286.998 + 2500.853 + 2536.404 = €9,840 Mil.
Gross Profit was 224.48 + 150.388 + 221.132 + 250.133 = €846 Mil.
Total Current Assets was €3,774 Mil.
Total Assets was €7,228 Mil.
Property, Plant and Equipment(Net PPE) was €2,338 Mil.
Depreciation, Depletion and Amortization(DDA) was €393 Mil.
Selling, General, & Admin. Expense(SGA) was €518 Mil.
Total Current Liabilities was €2,360 Mil.
Long-Term Debt & Capital Lease Obligation was €2,623 Mil.
Net Income was 2.76 + -35.763 + 17.803 + 27.69 = €12 Mil.
Non Operating Income was -30.36 + -3.668 + -18.74 + -4.615 = €-57 Mil.
Cash Flow from Operations was -93.84 + 254.926 + 104.944 + 236.288 = €502 Mil.
|
Total Receivables was €1,748 Mil.
Revenue was 2469.496 + 2411.92 + 2560.35 + 2446.356 = €9,888 Mil.
Gross Profit was 213.886 + 169.92 + 205.03 + 173.118 = €762 Mil.
Total Current Assets was €3,954 Mil.
Total Assets was €7,372 Mil.
Property, Plant and Equipment(Net PPE) was €2,384 Mil.
Depreciation, Depletion and Amortization(DDA) was €372 Mil.
Selling, General, & Admin. Expense(SGA) was €490 Mil.
Total Current Liabilities was €2,686 Mil.
Long-Term Debt & Capital Lease Obligation was €2,438 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) |
| = | (1634.84 / 9840.455) | / | (1748.448 / 9888.122) |
| = | 0.166135 | / | 0.176823 |
| | = | 0.9396 |
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) |
| = | (761.954 / 9888.122) | / | (846.133 / 9840.455) |
| = | 0.077058 | / | 0.085985 |
| | = | 0.8962 |
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 - (3773.84 + 2337.72) / 7228.44) | / | (1 - (3953.622 + 2383.568) / 7372.062) |
| = | 0.154512 | / | 0.140378 |
| | = | 1.1007 |
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 |
| = | 9840.455 | / | 9888.122 |
| | = | 0.9952 |
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)) |
| = | (371.698 / (371.698 + 2383.568)) | / | (392.783 / (392.783 + 2337.72)) |
| = | 0.134905 | / | 0.14385 |
| | = | 0.9378 |
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) |
| = | (518.238 / 9840.455) | / | (489.712 / 9888.122) |
| = | 0.052664 | / | 0.049525 |
| | = | 1.0634 |
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) |
| = | ((2622.92 + 2359.8) / 7228.44) | / | ((2437.74 + 2686.184) / 7372.062) |
| = | 0.689322 | / | 0.695046 |
| | = | 0.9918 |
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 |
| = | (12.49 - -57.383 | - | 502.318) | / | 7228.44 |
| | = | -0.059825 |
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.
Dana has a M-score of -2.85 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
STU:4DH has been successfully added to your