Talos Energy Beneish M-Score Historical Data
The historical data trend for Talos Energy'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.
Talos Energy Beneish M-Score Chart
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Talos Energy Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-1.31 |
-6.54 |
-2.74 |
-2.52 |
-0.39 |
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Talos Energy 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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-2.52 |
-1.34 |
-1.16 |
-0.72 |
-0.39 |
Competitive Comparison of Talos Energy's Beneish M-Score
For the Oil & Gas E&P subindustry, Talos Energy'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.
Talos Energy's Beneish M-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Talos Energy's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Talos Energy's Beneish M-Score falls into.
Talos Energy 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 Talos Energy 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 * 1.484 | + | 0.528 * 2.0309 | + | 0.404 * 5.2247 | + | 0.892 * 0.8825 | + | 0.115 * 0.9661 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.8003 | + | 4.679 * -0.087583 | - | 0.327 * 0.8361 |
| = | -0.39 |
* 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 $278 Mil.
Revenue was 384.959 + 383.135 + 367.21 + 322.582 = $1,458 Mil.
Gross Profit was -188.358 + 219.176 + 196.809 + 174.653 = $402 Mil.
Total Current Assets was $422 Mil.
Total Assets was $4,816 Mil.
Property, Plant and Equipment(Net PPE) was $4,052 Mil.
Depreciation, Depletion and Amortization(DDA) was $750 Mil.
Selling, General, & Admin. Expense(SGA) was $158 Mil.
Total Current Liabilities was $579 Mil.
Long-Term Debt & Capital Lease Obligation was $1,011 Mil.
Net Income was 85.898 + -2.103 + 13.677 + 89.86 = $187 Mil.
Non Operating Income was 90.37 + -99.102 + 25.776 + 73.046 = $90 Mil.
Cash Flow from Operations was 176.258 + 65.728 + 214.226 + 62.857 = $519 Mil.
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Total Receivables was $212 Mil.
Revenue was 342.201 + 377.128 + 519.085 + 413.566 = $1,652 Mil.
Gross Profit was -86.165 + 283.85 + 413.71 + 314.375 = $926 Mil.
Total Current Assets was $368 Mil.
Total Assets was $3,059 Mil.
Property, Plant and Equipment(Net PPE) was $2,649 Mil.
Depreciation, Depletion and Amortization(DDA) was $471 Mil.
Selling, General, & Admin. Expense(SGA) was $100 Mil.
Total Current Liabilities was $607 Mil.
Long-Term Debt & Capital Lease Obligation was $600 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) |
| = | (277.61 / 1457.886) | / | (211.979 / 1651.98) |
| = | 0.19042 | / | 0.128318 |
| | = | 1.484 |
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) |
| = | (925.77 / 1651.98) | / | (402.28 / 1457.886) |
| = | 0.5604 | / | 0.275934 |
| | = | 2.0309 |
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 - (422.175 + 4051.727) / 4816.309) | / | (1 - (367.829 + 2649.178) / 3058.626) |
| = | 0.071093 | / | 0.013607 |
| | = | 5.2247 |
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 |
| = | 1457.886 | / | 1651.98 |
| | = | 0.8825 |
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)) |
| = | (470.625 / (470.625 + 2649.178)) | / | (749.686 / (749.686 + 4051.727)) |
| = | 0.150851 | / | 0.156139 |
| | = | 0.9661 |
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) |
| = | (158.493 / 1457.886) | / | (99.754 / 1651.98) |
| = | 0.108714 | / | 0.060385 |
| | = | 1.8003 |
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) |
| = | ((1010.825 + 578.615) / 4816.309) | / | ((600.195 + 607.058) / 3058.626) |
| = | 0.330012 | / | 0.394704 |
| | = | 0.8361 |
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 |
| = | (187.332 - 90.09 | - | 519.069) | / | 4816.309 |
| | = | -0.087583 |
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.
Talos Energy has a M-score of -0.39 signals that the company is likely to be a manipulator.
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