Bristow Group Beneish M-Score Historical Data
The historical data trend for Bristow Group'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.
Bristow Group Beneish M-Score Chart
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Bristow Group Annual Data
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Trend |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Dec23 |
| Beneish M-Score |
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- |
- |
- |
-2.94 |
-2.66 |
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Bristow Group Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
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-2.16 |
-2.32 |
-2.42 |
-2.49 |
-2.66 |
Competitive Comparison of Bristow Group's Beneish M-Score
For the Oil & Gas Equipment & Services subindustry, Bristow Group'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.
Bristow Group's Beneish M-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Bristow Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Bristow Group's Beneish M-Score falls into.
Bristow Group 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 Bristow Group 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 * 1.0171 | + | 0.528 * 0.8208 | + | 0.404 * 0.9085 | + | 0.892 * 1.0723 | + | 0.115 * 0.9817 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1665 | + | 4.679 * -0.018262 | - | 0.327 * 1.0418 |
| = | -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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $235 Mil.
Revenue was 337.934 + 338.09 + 319.383 + 302.022 = $1,297 Mil.
Gross Profit was 68.179 + 76.403 + 61.845 + 53.778 = $260 Mil.
Total Current Assets was $564 Mil.
Total Assets was $1,937 Mil.
Property, Plant and Equipment(Net PPE) was $1,216 Mil.
Depreciation, Depletion and Amortization(DDA) was $86 Mil.
Selling, General, & Admin. Expense(SGA) was $206 Mil.
Total Current Liabilities was $310 Mil.
Long-Term Debt & Capital Lease Obligation was $750 Mil.
Net Income was -7.938 + 4.317 + -1.637 + -1.522 = $-7 Mil.
Non Operating Income was 2.614 + 8.857 + -15.293 + 0.384 = $-3 Mil.
Cash Flow from Operations was -9.499 + 16.711 + 18.21 + 6.615 = $32 Mil.
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Total Receivables was $215 Mil.
Revenue was 313.562 + 307.27 + 301.737 + 287.4 = $1,210 Mil.
Gross Profit was 44.004 + 56.729 + 57.379 + 41.076 = $199 Mil.
Total Current Assets was $493 Mil.
Total Assets was $1,812 Mil.
Property, Plant and Equipment(Net PPE) was $1,156 Mil.
Depreciation, Depletion and Amortization(DDA) was $80 Mil.
Selling, General, & Admin. Expense(SGA) was $165 Mil.
Total Current Liabilities was $286 Mil.
Long-Term Debt & Capital Lease Obligation was $666 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) |
| = | (234.62 / 1297.429) | / | (215.131 / 1209.969) |
| = | 0.180835 | / | 0.177799 |
| | = | 1.0171 |
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) |
| = | (199.188 / 1209.969) | / | (260.205 / 1297.429) |
| = | 0.164622 | / | 0.200554 |
| | = | 0.8208 |
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 - (563.583 + 1215.705) / 1937.278) | / | (1 - (493.125 + 1156.228) / 1812.001) |
| = | 0.081553 | / | 0.089762 |
| | = | 0.9085 |
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 |
| = | 1297.429 | / | 1209.969 |
| | = | 1.0723 |
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)) |
| = | (79.804 / (79.804 + 1156.228)) | / | (85.586 / (85.586 + 1215.705)) |
| = | 0.064565 | / | 0.06577 |
| | = | 0.9817 |
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) |
| = | (205.984 / 1297.429) | / | (164.684 / 1209.969) |
| = | 0.158763 | / | 0.136106 |
| | = | 1.1665 |
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) |
| = | ((749.78 + 309.789) / 1937.278) | / | ((665.72 + 285.59) / 1812.001) |
| = | 0.546937 | / | 0.525005 |
| | = | 1.0418 |
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 |
| = | (-6.78 - -3.438 | - | 32.037) | / | 1937.278 |
| | = | -0.018262 |
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.
Bristow Group has a M-score of -2.66 suggests that the company is unlikely to be a manipulator.
Bristow Group (Bristow Group) Business Description
Traded in Other Exchanges
N/A
Address
3151 Briarpark Drive, 7th Floor, Suite 700, Houston, TX, USA, 77042
Bristow Group Inc is the provider of vertical flight solutions. It provides aviation services to a broad base of major integrated, national and independent energy companies. The company provides commercial search and rescue (SAR) services in multiple countries and public sector SAR services in the United Kingdom on behalf of the Maritime & Coastguard Agency (MCA). Additionally, it offers fixed wing transportation and other aviation related solutions. Its oil and gas customers charter its helicopters to transport personnel to, from and between onshore bases and offshore production platforms, drilling rigs and other installations. It has customers in Australia, Brazil, Canada, Chile, Colombia, Guyana, India, Mexico, Nigeria, Norway, Spain, Suriname, Trinidad, the U.K and the United States.
Executives
| Solus Alternative Asset Management Lp |
10 percent owner |
25 MAPLE STREET, 2ND FLOOR, SUMMIT NJ 07901 |
| Wesley E. Kern |
director |
5004 GREGORY PLACE, WEST LAKE HILLS TX 78746 |
| Jennifer Dawn Whalen |
officer: SVP, CFO |
13103 SHOALWATER LANE, PEARLAND TX 77584 |
| David F. Stepanek |
officer: Executive VP and COO |
2001 SE EVANGELINE THRUWAY, LAFAYETTE LA 70508 |
| Stuart Stavley |
officer: COO, Offshore Energy Services |
CITYCENTRE TWO, 818 TOWN & COUNTRY BLVD., SUITE 200, HOUSTON TX 77024 |
| Elizabeth Matthews |
officer: See remarks. |
3151 BRIARPARK DRIVE, SUITE 700, HOUSTON TX 77042 |
| Brian D. Truelove |
director |
HESS CORPORATION, 1185 AVENUE OF THE AMERICAS, NEW YORK NY 10036 |
| Christopher Scott Bradshaw |
director, officer: President and CEO |
CITYCENTRE TWO, 818 TOWN & COUNTRY BLVD., SUITE 200, HOUSTON TX 33316 |
| George Mark Mickelson |
director |
101 N. MAIN AVENUE, STE. 321, SIOUX FALLS SD 57104 |
| Solus Gp Llc |
10 percent owner |
C/O SOLUS ALTERNATIVE ASSET MANAGEMENT, 25 MAPLE STREET, 2ND FLOOR, SUMMIT NJ 07901 |
| Christopher Pucillo |
director, 10 percent owner |
C/O SOLUS ALTERNATIVE ASSET MANAGEMENT, 25 MAPLE STREET, 2ND FLOOR, SUMMIT NJ 07901 |
| Richard E Tatum |
officer: VP, Chief Accounting Officer |
11700 KATY FREEWAY, SUITE 175, HOUSTON TX 77079 |
| Robert Manzo |
director |
PARK 80 W PLZ 2, SADDLE BROOK NJ 07663 |
| Crystal L Gordon |
officer: SVP, General Counsel |
945 BUNKER HILL, SUITE 650, HOUSTON TX 77024 |
| Maryanne Miller |
director |
3151 BRIARPARK DRIVE, SUITE 700, HOUSTON TX 77042 |
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