Vertiv Holdings Co Beneish M-Score Historical Data
The historical data trend for Vertiv Holdings Co'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.
Vertiv Holdings Co Beneish M-Score Chart
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Vertiv Holdings Co Annual Data
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Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
-2.20 |
-2.21 |
-2.56 |
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Vertiv Holdings Co Quarterly Data
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Jun19 |
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Mar23 |
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Mar24 |
| Beneish M-Score |
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-2.20 |
-2.48 |
-2.59 |
-2.56 |
-2.66 |
Competitive Comparison of Vertiv Holdings Co's Beneish M-Score
For the Electrical Equipment & Parts subindustry, Vertiv Holdings Co'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.
Vertiv Holdings Co's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Vertiv Holdings Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Vertiv Holdings Co's Beneish M-Score falls into.
Vertiv Holdings Co 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 Vertiv Holdings Co 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 * 0.9133 | + | 0.528 * 0.8433 | + | 0.404 * 0.9429 | + | 0.892 * 1.1527 | + | 0.115 * 1.1411 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9567 | + | 4.679 * -0.029099 | - | 0.327 * 1.0501 |
| = | -2.66 |
* 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 $2,097 Mil.
Revenue was 1639.1 + 1865.4 + 1742.6 + 1734.1 = $6,981 Mil.
Gross Profit was 566.4 + 683.4 + 627.6 + 594 = $2,471 Mil.
Total Current Assets was $3,632 Mil.
Total Assets was $7,591 Mil.
Property, Plant and Equipment(Net PPE) was $750 Mil.
Depreciation, Depletion and Amortization(DDA) was $273 Mil.
Selling, General, & Admin. Expense(SGA) was $1,318 Mil.
Total Current Liabilities was $2,710 Mil.
Long-Term Debt & Capital Lease Obligation was $3,069 Mil.
Net Income was -5.9 + 232.6 + 94.1 + 83.2 = $404 Mil.
Non Operating Income was -180.1 + -62.8 + -65.6 + -62.6 = $-371 Mil.
Cash Flow from Operations was 137.5 + 356.2 + 248.7 + 253.6 = $996 Mil.
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Total Receivables was $1,992 Mil.
Revenue was 1521.1 + 1654.6 + 1481.1 + 1399.4 = $6,056 Mil.
Gross Profit was 495.5 + 511.7 + 429.3 + 371.5 = $1,808 Mil.
Total Current Assets was $3,341 Mil.
Total Assets was $7,255 Mil.
Property, Plant and Equipment(Net PPE) was $662 Mil.
Depreciation, Depletion and Amortization(DDA) was $290 Mil.
Selling, General, & Admin. Expense(SGA) was $1,195 Mil.
Total Current Liabilities was $1,972 Mil.
Long-Term Debt & Capital Lease Obligation was $3,289 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) |
| = | (2097.1 / 6981.2) | / | (1991.9 / 6056.2) |
| = | 0.300392 | / | 0.328903 |
| | = | 0.9133 |
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) |
| = | (1808 / 6056.2) | / | (2471.4 / 6981.2) |
| = | 0.298537 | / | 0.354008 |
| | = | 0.8433 |
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 - (3631.8 + 750.4) / 7591.4) | / | (1 - (3340.6 + 662) / 7255.4) |
| = | 0.422742 | / | 0.448328 |
| | = | 0.9429 |
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 |
| = | 6981.2 | / | 6056.2 |
| | = | 1.1527 |
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)) |
| = | (289.8 / (289.8 + 662)) | / | (273.1 / (273.1 + 750.4)) |
| = | 0.304476 | / | 0.26683 |
| | = | 1.1411 |
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) |
| = | (1317.6 / 6981.2) | / | (1194.8 / 6056.2) |
| = | 0.188735 | / | 0.197285 |
| | = | 0.9567 |
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) |
| = | ((3069.4 + 2709.9) / 7591.4) | / | ((3288.5 + 1971.6) / 7255.4) |
| = | 0.761296 | / | 0.724991 |
| | = | 1.0501 |
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 |
| = | (404 - -371.1 | - | 996) | / | 7591.4 |
| | = | -0.029099 |
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.
Vertiv Holdings Co has a M-score of -2.66 suggests that the company is unlikely to be a manipulator.
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