USA Compression Partners LP Beneish M-Score Historical Data
The historical data trend for USA Compression Partners LP'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.
USA Compression Partners LP Beneish M-Score Chart
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USA Compression Partners LP Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.84 |
-3.37 |
-2.91 |
-3.17 |
-2.83 |
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USA Compression Partners LP 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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-3.17 |
-3.20 |
-3.13 |
-2.77 |
-2.83 |
Competitive Comparison of USA Compression Partners LP's Beneish M-Score
For the Oil & Gas Equipment & Services subindustry, USA Compression Partners LP'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.
USA Compression Partners LP's Beneish M-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, USA Compression Partners LP's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where USA Compression Partners LP's Beneish M-Score falls into.
USA Compression Partners LP 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 USA Compression Partners LP 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 * 0.9473 | + | 0.528 * 0.8895 | + | 0.404 * 0.8633 | + | 0.892 * 1.2009 | + | 0.115 * 0.9907 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9881 | + | 4.679 * -0.073267 | - | 0.327 * 1.0766 |
| = | -2.83 |
* 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 $95.4 Mil.
Revenue was 225.049 + 217.085 + 206.92 + 197.124 = $846.2 Mil.
Gross Profit was 89.386 + 78.056 + 76.959 + 70.973 = $315.4 Mil.
Total Current Assets was $226.4 Mil.
Total Assets was $2,736.8 Mil.
Property, Plant and Equipment(Net PPE) was $2,254.9 Mil.
Depreciation, Depletion and Amortization(DDA) was $246.1 Mil.
Selling, General, & Admin. Expense(SGA) was $72.7 Mil.
Total Current Liabilities was $187.5 Mil.
Long-Term Debt & Capital Lease Obligation was $2,350.8 Mil.
Net Income was 12.841 + 20.902 + 23.584 + 10.941 = $68.3 Mil.
Non Operating Income was -12.78 + 6.443 + 4.025 + -0.791 = $-3.1 Mil.
Cash Flow from Operations was 91.604 + 50.072 + 87.871 + 42.338 = $271.9 Mil.
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Total Receivables was $83.9 Mil.
Revenue was 190.112 + 179.613 + 171.461 + 163.412 = $704.6 Mil.
Gross Profit was 64.237 + 61.388 + 57.344 + 50.616 = $233.6 Mil.
Total Current Assets was $186.4 Mil.
Total Assets was $2,665.7 Mil.
Property, Plant and Equipment(Net PPE) was $2,191.1 Mil.
Depreciation, Depletion and Amortization(DDA) was $236.7 Mil.
Selling, General, & Admin. Expense(SGA) was $61.3 Mil.
Total Current Liabilities was $173.7 Mil.
Long-Term Debt & Capital Lease Obligation was $2,122.8 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) |
| = | (95.421 / 846.178) | / | (83.874 / 704.598) |
| = | 0.112767 | / | 0.119038 |
| | = | 0.9473 |
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) |
| = | (233.585 / 704.598) | / | (315.374 / 846.178) |
| = | 0.331515 | / | 0.372704 |
| | = | 0.8895 |
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 - (226.447 + 2254.915) / 2736.76) | / | (1 - (186.447 + 2191.119) / 2665.724) |
| = | 0.093321 | / | 0.108097 |
| | = | 0.8633 |
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 |
| = | 846.178 | / | 704.598 |
| | = | 1.2009 |
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)) |
| = | (236.677 / (236.677 + 2191.119)) | / | (246.096 / (246.096 + 2254.915)) |
| = | 0.097486 | / | 0.098399 |
| | = | 0.9907 |
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) |
| = | (72.714 / 846.178) | / | (61.278 / 704.598) |
| = | 0.085932 | / | 0.086969 |
| | = | 0.9881 |
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) |
| = | ((2350.819 + 187.502) / 2736.76) | / | ((2122.795 + 173.664) / 2665.724) |
| = | 0.927491 | / | 0.861477 |
| | = | 1.0766 |
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 |
| = | (68.268 - -3.103 | - | 271.885) | / | 2736.76 |
| | = | -0.073267 |
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.
USA Compression Partners LP has a M-score of -2.83 suggests that the company is unlikely to be a manipulator.
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