AptarGroup Beneish M-Score Historical Data
The historical data trend for AptarGroup'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.
AptarGroup Beneish M-Score Chart
|
AptarGroup Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.85 |
-2.81 |
-2.40 |
-2.73 |
-2.76 |
|
AptarGroup 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.69 |
-2.66 |
-2.68 |
-2.76 |
-2.70 |
Competitive Comparison of AptarGroup's Beneish M-Score
For the Medical Instruments & Supplies subindustry, AptarGroup'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.
AptarGroup's Beneish M-Score Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, AptarGroup's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where AptarGroup's Beneish M-Score falls into.
AptarGroup 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 AptarGroup 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 * 0.9812 | + | 0.528 * 0.9556 | + | 0.404 * 0.9485 | + | 0.892 * 1.0616 | + | 0.115 * 0.9818 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9834 | + | 4.679 * -0.05115 | - | 0.327 * 0.9124 |
| = | -2.70 |
* 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 $724 Mil.
Revenue was 915.448 + 838.48 + 892.997 + 895.906 = $3,543 Mil.
Gross Profit was 332.692 + 312.253 + 326.306 + 322.195 = $1,293 Mil.
Total Current Assets was $1,560 Mil.
Total Assets was $4,437 Mil.
Property, Plant and Equipment(Net PPE) was $1,524 Mil.
Depreciation, Depletion and Amortization(DDA) was $254 Mil.
Selling, General, & Admin. Expense(SGA) was $571 Mil.
Total Current Liabilities was $1,196 Mil.
Long-Term Debt & Capital Lease Obligation was $724 Mil.
Net Income was 83.104 + 62.355 + 84.296 + 83.072 = $313 Mil.
Non Operating Income was -3.968 + -20.537 + -6.396 + 1.418 = $-29 Mil.
Cash Flow from Operations was 92.333 + 219.637 + 173.401 + 83.897 = $569 Mil.
|
Total Receivables was $695 Mil.
Revenue was 860.067 + 795.914 + 836.86 + 844.543 = $3,337 Mil.
Gross Profit was 302.645 + 275.617 + 290.484 + 295.533 = $1,164 Mil.
Total Current Assets was $1,482 Mil.
Total Assets was $4,303 Mil.
Property, Plant and Equipment(Net PPE) was $1,438 Mil.
Depreciation, Depletion and Amortization(DDA) was $234 Mil.
Selling, General, & Admin. Expense(SGA) was $547 Mil.
Total Current Liabilities was $1,041 Mil.
Long-Term Debt & Capital Lease Obligation was $999 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) |
| = | (724.015 / 3542.831) | / | (695.118 / 3337.384) |
| = | 0.204361 | / | 0.208282 |
| | = | 0.9812 |
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) |
| = | (1164.279 / 3337.384) | / | (1293.446 / 3542.831) |
| = | 0.34886 | / | 0.365088 |
| | = | 0.9556 |
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 - (1560.009 + 1523.607) / 4437.086) | / | (1 - (1481.509 + 1437.562) / 4302.798) |
| = | 0.305036 | / | 0.321588 |
| | = | 0.9485 |
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 |
| = | 3542.831 | / | 3337.384 |
| | = | 1.0616 |
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)) |
| = | (234.3 / (234.3 + 1437.562)) | / | (253.683 / (253.683 + 1523.607)) |
| = | 0.140143 | / | 0.142736 |
| | = | 0.9818 |
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) |
| = | (570.64 / 3542.831) | / | (546.644 / 3337.384) |
| = | 0.161069 | / | 0.163794 |
| | = | 0.9834 |
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) |
| = | ((723.957 + 1196.138) / 4437.086) | / | ((999.494 + 1041.16) / 4302.798) |
| = | 0.432738 | / | 0.474262 |
| | = | 0.9124 |
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 |
| = | (312.827 - -29.483 | - | 569.268) | / | 4437.086 |
| | = | -0.05115 |
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.
AptarGroup has a M-score of -2.70 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
ATR has been successfully added to your