CRH (CRH) Beneish M-Score : 0.00 (As of Oct. 31, 2024)

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What is CRH 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 CRH's Beneish M-Score or its related term are showing as below:

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

CRH Beneish M-Score Historical Data

The historical data trend for CRH'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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CRH Beneish M-Score Chart

CRH Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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CRH Quarterly Data
	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Mar23	Jun23	Dec23	Mar24	Jun24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of CRH's Beneish M-Score

For the Building Materials subindustry, CRH'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.

CRH's Beneish M-Score Distribution in the Building Materials Industry

For the Building Materials industry and Basic Materials sector, CRH's Beneish M-Score distribution charts can be found below:

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

CRH 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 CRH 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Jun24) TTM:

Last Year (Mar23) TTM:

Total Receivables was $5,893 Mil.
Revenue was 9654 + 6533 + 0 + 9709 = $25,896 Mil.
Gross Profit was 3675 + 1807 + 0 + 3630 = $9,112 Mil.
Total Current Assets was $15,113 Mil.
Total Assets was $48,105 Mil.
Property, Plant and Equipment(Net PPE) was $20,514 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,222 Mil.
Selling, General, & Admin. Expense(SGA) was $5,770 Mil.
Total Current Liabilities was $10,548 Mil.
Long-Term Debt & Capital Lease Obligation was $11,014 Mil.
Net Income was 1297 + 116 + 0 + 1199 = $2,612 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 1485 + -712 + 0 + 1634 = $2,407 Mil.

Total Receivables was $0 Mil.
Revenue was 6427 + 0 + 0 + 0 = $6,427 Mil.
Gross Profit was 1619 + 0 + 0 + 0 = $1,619 Mil.
Total Current Assets was $0 Mil.
Total Assets was $0 Mil.
Property, Plant and Equipment(Net PPE) was $0 Mil.
Depreciation, Depletion and Amortization(DDA) was $384 Mil.
Selling, General, & Admin. Expense(SGA) was $1,622 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $0 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)
	=	(5893 / 25896)	/	(0 / 6427)
	=	0.227564	/	0
	=

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)
	=	(1619 / 6427)	/	(9112 / 25896)
	=	0.251906	/	0.351869
	=

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 - (15113 + 20514) / 48105)	/	(1 - (0 + 0) / 0)
	=	0.259391	/
	=

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
	=	25896	/	6427
	=

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))
	=	(384 / (384 + 0))	/	(1222 / (1222 + 20514))
	=	1	/	0.05622
	=

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)
	=	(5770 / 25896)	/	(1622 / 6427)
	=	0.222814	/	0.252373
	=

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)
	=	((11014 + 10548) / 48105)	/	((0 + 0) / 0)
	=	0.448228	/
	=

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
	=	(2612 - 0	-	2407)	/	48105
	=	0.004262

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.

CRH Beneish M-Score Related Terms

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CRH Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Building Materials » CRH PLC (NYSE:CRH) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

CRH1:Mexico CRHl:UK CRH:UK CRG:Germany CRG:Germany CRG:Germany

Address

Stonemason’s Way, Rathfarnham, Dublin, IRL, D16 KH51

Website

https://www.crh.com

CRH is a global manufacturer of a range of building products used in construction projects, operating via a vertically integrated business model. The past decade has seen CRH transform into a leading building materials business, with increasing exposure to upstream building activities such as aggregates and cement. CRH's geographic footprint is mostly across developed markets. North America is CRH's largest market and accounts for 75% of EBITDA. The company is the largest producer of aggregates and asphalt in the US.