Cameron International (Cameron International) Beneish M-Score : 0.00 (As of May. 05, 2024)

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What is Cameron International Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

The historical rank and industry rank for Cameron International's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Cameron International was 0.00. The lowest was 0.00. And the median was 0.00.

Cameron International Beneish M-Score Historical Data

The historical data trend for Cameron International'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.

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Cameron International Beneish M-Score Chart

Cameron International Annual Data

Trend

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Beneish M-Score

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-1.99

-2.23

-2.31

-2.78

-2.61

Cameron International Quarterly Data
	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15
Beneish M-Score	Get a 7-Day Free Trial															-2.78	-2.88	-2.74	-2.87	-2.61

Competitive Comparison of Cameron International's Beneish M-Score

For the Oil & Gas Equipment & Services subindustry, Cameron International'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.

Cameron International's Beneish M-Score Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Cameron International's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Cameron International's Beneish M-Score falls into.

Cameron International 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 Cameron International for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.821

0.528 * 0.9294

0.404 * 0.8849

0.892 * 0.846

0.115 * 0.9238

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.993

4.679 * 0.050087

0.327 * 0.9091

-2.61

This Year (Dec15) TTM:

Last Year (Dec14) TTM:

Total Receivables was $1,228 Mil.
Revenue was 2079 + 2208 + 2222 + 2273 = $8,782 Mil.
Gross Profit was 676 + 678 + 637 + 665 = $2,656 Mil.
Total Current Assets was $7,118 Mil.
Total Assets was $11,500 Mil.
Property, Plant and Equipment(Net PPE) was $1,717 Mil.
Depreciation, Depletion and Amortization(DDA) was $342 Mil.
Selling, General, & Admin. Expense(SGA) was $1,082 Mil.
Total Current Liabilities was $3,206 Mil.
Long-Term Debt & Capital Lease Obligation was $2,542 Mil.
Net Income was 125 + 187 + 140 + 49 = $501 Mil.
Non Operating Income was -125 + -44 + -37 + -577 = $-783 Mil.
Cash Flow from Operations was 497 + 376 + 28 + -193 = $708 Mil.

Total Receivables was $1,768 Mil.
Revenue was 2804 + 2678 + 2570 + 2329 = $10,381 Mil.
Gross Profit was 796 + 763 + 720 + 639 = $2,918 Mil.
Total Current Assets was $7,552 Mil.
Total Assets was $12,892 Mil.
Property, Plant and Equipment(Net PPE) was $1,964 Mil.
Depreciation, Depletion and Amortization(DDA) was $356 Mil.
Selling, General, & Admin. Expense(SGA) was $1,288 Mil.
Total Current Liabilities was $4,269 Mil.
Long-Term Debt & Capital Lease Obligation was $2,819 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)
	=	(1228 / 8782)	/	(1768 / 10381)
	=	0.139831	/	0.170311
	=	0.821

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)
	=	(2918 / 10381)	/	(2656 / 8782)
	=	0.28109	/	0.302437
	=	0.9294

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 - (7118 + 1717) / 11500)	/	(1 - (7552 + 1964) / 12892)
	=	0.231739	/	0.261868
	=	0.8849

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
	=	8782	/	10381
	=	0.846

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))
	=	(356 / (356 + 1964))	/	(342 / (342 + 1717))
	=	0.153448	/	0.1661
	=	0.9238

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)
	=	(1082 / 8782)	/	(1288 / 10381)
	=	0.123207	/	0.124073
	=	0.993

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)
	=	((2542 + 3206) / 11500)	/	((2819 + 4269) / 12892)
	=	0.499826	/	0.549798
	=	0.9091

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
	=	(501 - -783	-	708)	/	11500
	=	0.050087

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.

Cameron International has a M-score of -2.61 suggests that the company is unlikely to be a manipulator.

Cameron International Beneish M-Score Related Terms

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Cameron International (Cameron International) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Cameron International Corp (NYSE:CAM) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

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Address

Website

http://www.c-a-m.com

Cameron International Corp, a Delaware corporation, was incorporated on November 10, 1994. The Company is a provider of flow equipment products, systems and services to oil, gas and process industries. Cooper Cameron is also a manufacturer of centrifugal air compressors, integral and separable gas compressors and turbochargers. The Company's operations are organized into three business segments: Drilling & Production Systems 'DPS', Valves & Measurement 'V&M' and Compression Systems 'CS'. DPS is a provider of systems and equipment used to control pressures, direct flows of oil and gas wells and separate oil and gas from impurities. DPS's products include surface and subsea production systems, blowout preventers, drilling and production control systems, oil and gas separation equipment, gas conditioning units, membrane separation systems, water processing systems, block valves, gate valves, actuators, chokes, wellheads, drilling riser and aftermarket parts and services. DPS's customers include oil and gas majors, national oil companies, independent producers, engineering and construction companies, drilling contractors, rental companies and geothermal energy producers. V&M is a provider of valves and also supplies measurement systems mainly used to control, direct and measure the flow of oil and gas as it moved from individual wellheads through flow lines, gathering lines and transmission systems to refineries, petrochemical plants and industrial centers for processing. V&M's products include gate valves, ball valves, butterfly valves, Orbit(r) valves, double block & bleed valves, plug valves, globe valves, check valves, actuators, chokes and aftermarket parts and services. Measurement products include totalizers, turbine meters, flow computers, chart recorders, ultrasonic flow meters and sampling systems. V&M's main customers include oil and gas majors, independent producers, engineering and construction companies, pipeline operators, drilling contractors and chemical, petrochemical and refining companies. CS is a provider of compression equipment and aftermarket parts and services for the oil, gas and process industries. Integrally geared centrifugal compressors are used by customers around the world in a variety of industries, including air separation, petrochemical and chemical. CS's products include integral engine-compressors, separable compressors, turbochargers, integrally geared centrifugal compressors, compressor systems and controls. Cameron has manufacturing facilities worldwide that conduct a broad variety of processes, including machining, fabrication, assembly and testing, using a variety of forged and cast alloyed steels and stainless steel as the main raw materials. Cameron competes in all areas of its operations with a number of other companies, some of which have financial and other resources comparable to or greater than those of Cameron. Cameron considers the following trade names to be material to its business

Executives

Peter J Fluor	director	20 N. BROADWAY, OKLAHOMA CITY OK 73102
James T Hackett	director	C/O FLUOR CORPORATION, 6700 LAS COLINAS BLVD, IRVING TX 75039
Douglas L Foshee	director	1001 LOUISIANA STREET, HOUSTON TX 77002
Jack B Moore	director	5 GREENWAY PLAZA, STE 110, HOUSTON TX 77046
Timothy J Probert	director	12300 PARK CREST DR, STAFFORD TX 77477
Robert Scott Rowe	officer: Vice President	1333 WEST LOOP SOUTH, SUITE 1700, HOUSTON TX 77027
Paulett Eberhart	director	C/O LPL FINANCIAL, 4707 EXECUTIVE DRIVE, SAN DIEGO CA 32121
Charles M Sledge	officer: Sr Vice Pres & CFO	1611 SCENIC MOUNTAIN COURT, KINGWOOD TX 77345
Bruce W Wilkinson	director	1333 WEST LOOP SOUTH, STE 1700, HOUSTON TX 77027
Jon Erik Reinhardsen	director	1333 WEST LOOP SOUTH, SUITE 1700, HOUSTON TX 77027
Dennis S Baldwin	officer: VP Controller and CAO	1333 WEST LOOP SOUTH, SUITE 1700, HOUSTON TX 77027
Brent J Smolik	director	1001 NOBLE ENERGY WAY, HOUSTON TX 77070
Gary M. Halverson	officer: Sr Vice President	1333 WEST LOOP SOUTH, SUITE 1700, HOUSTON TX 77027
H. Keith Jennings	officer: Vice President & Treasurer	2000 ST. JAMES PLACE, HOUSTON TX 77056
Owen Serjeant	officer: Vice President	24955 INTERSTATE 45 NORTH, THE WOODLANDS X1 77380