DXP Enterprises Beneish M-Score Historical Data
The historical data trend for DXP Enterprises'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.
DXP Enterprises Beneish M-Score Chart
|
DXP Enterprises Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.46 |
-2.97 |
-2.38 |
-1.94 |
-2.69 |
|
DXP Enterprises Quarterly Data
|
|
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-1.94 |
-2.03 |
-2.12 |
-2.38 |
-2.69 |
Competitive Comparison of DXP Enterprises's Beneish M-Score
For the Industrial Distribution subindustry, DXP Enterprises'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.
DXP Enterprises's Beneish M-Score Distribution in the Industrial Distribution Industry
For the Industrial Distribution industry and Industrials sector, DXP Enterprises's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where DXP Enterprises's Beneish M-Score falls into.
DXP Enterprises 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 DXP Enterprises 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 * 0.9042 | + | 0.528 * 0.9467 | + | 0.404 * 0.8825 | + | 0.892 * 1.1025 | + | 0.115 * 1.0053 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9973 | + | 4.679 * -0.033364 | - | 0.327 * 1.0365 |
| = | -2.72 |
* 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 €324 Mil.
Revenue was 373.259 + 392.836 + 395.081 + 396.265 = €1,557 Mil.
Gross Profit was 112.641 + 117.652 + 121.699 + 116.788 = €469 Mil.
Total Current Assets was €595 Mil.
Total Assets was €1,080 Mil.
Property, Plant and Equipment(Net PPE) was €101 Mil.
Depreciation, Depletion and Amortization(DDA) was €28 Mil.
Selling, General, & Admin. Expense(SGA) was €340 Mil.
Total Current Liabilities was €206 Mil.
Long-Term Debt & Capital Lease Obligation was €509 Mil.
Net Income was 14.678 + 15.153 + 17.587 + 16.42 = €64 Mil.
Non Operating Income was 1.721 + -1.156 + 0.223 + 0.438 = €1 Mil.
Cash Flow from Operations was 38.924 + 37.253 + -2.245 + 24.703 = €99 Mil.
|
Total Receivables was €325 Mil.
Revenue was 383.542 + 391.187 + 347.95 + 290.025 = €1,413 Mil.
Gross Profit was 105.028 + 112.749 + 98.632 + 86.155 = €403 Mil.
Total Current Assets was €487 Mil.
Total Assets was €979 Mil.
Property, Plant and Equipment(Net PPE) was €98 Mil.
Depreciation, Depletion and Amortization(DDA) was €27 Mil.
Selling, General, & Admin. Expense(SGA) was €309 Mil.
Total Current Liabilities was €201 Mil.
Long-Term Debt & Capital Lease Obligation was €424 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) |
| = | (324.154 / 1557.441) | / | (325.178 / 1412.704) |
| = | 0.208132 | / | 0.230181 |
| | = | 0.9042 |
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) |
| = | (402.564 / 1412.704) | / | (468.78 / 1557.441) |
| = | 0.28496 | / | 0.300994 |
| | = | 0.9467 |
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 - (594.724 + 101.188) / 1079.709) | / | (1 - (487.212 + 97.578) / 979.192) |
| = | 0.355463 | / | 0.402783 |
| | = | 0.8825 |
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 |
| = | 1557.441 | / | 1412.704 |
| | = | 1.1025 |
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)) |
| = | (27.094 / (27.094 + 97.578)) | / | (27.909 / (27.909 + 101.188)) |
| = | 0.217322 | / | 0.216186 |
| | = | 1.0053 |
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) |
| = | (340.029 / 1557.441) | / | (309.26 / 1412.704) |
| = | 0.218325 | / | 0.218914 |
| | = | 0.9973 |
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) |
| = | ((508.965 + 205.559) / 1079.709) | / | ((424.228 + 200.979) / 979.192) |
| = | 0.661775 | / | 0.638493 |
| | = | 1.0365 |
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 |
| = | (63.838 - 1.226 | - | 98.635) | / | 1079.709 |
| | = | -0.033364 |
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.
DXP Enterprises has a M-score of -2.72 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
FRA:DX7 has been successfully added to your