Sensata Technologies Holding (FRA:S94) Beneish M-Score : -2.48 (As of May. 19, 2024)

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What is Sensata Technologies Holding 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.

Good Sign:

Beneish M-Score -2.48 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

FRA:S94' s Beneish M-Score Range Over the Past 10 Years
Min: -3.01 Med: -2.48 Max: -2.11
Current: -2.48

During the past 13 years, the highest Beneish M-Score of Sensata Technologies Holding was -2.11. The lowest was -3.01. And the median was -2.48.

Sensata Technologies Holding Beneish M-Score Historical Data

The historical data trend for Sensata Technologies Holding'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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Sensata Technologies Holding Beneish M-Score Chart

Sensata Technologies Holding Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-2.68

-2.43

-2.40

-2.45

Sensata Technologies Holding 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															-2.43	-2.47	-2.50	-2.45	-2.48

Competitive Comparison of Sensata Technologies Holding's Beneish M-Score

For the Scientific & Technical Instruments subindustry, Sensata Technologies Holding'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.

Sensata Technologies Holding's Beneish M-Score Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Sensata Technologies Holding's Beneish M-Score distribution charts can be found below:

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

Sensata Technologies Holding 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 Sensata Technologies Holding 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 * 1.0194

0.528 * 1.0623

0.404 * 1.0248

0.892 * 0.9667

0.115 * 0.9878

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9736

4.679 * -0.011782

0.327 * 0.9639

-2.49

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was €699 Mil.
Revenue was 926.172 + 910.117 + 938.22 + 980.329 = €3,755 Mil.
Gross Profit was 292.053 + 266.12 + 293.602 + 304.594 = €1,156 Mil.
Total Current Assets was €1,931 Mil.
Total Assets was €7,007 Mil.
Property, Plant and Equipment(Net PPE) was €813 Mil.
Depreciation, Depletion and Amortization(DDA) was €284 Mil.
Selling, General, & Admin. Expense(SGA) was €326 Mil.
Total Current Liabilities was €730 Mil.
Long-Term Debt & Capital Lease Obligation was €3,126 Mil.
Net Income was 69.939 + -185.452 + 58.845 + 45.329 = €-11 Mil.
Non Operating Income was -11.34 + -296.32 + -23.132 + -29.362 = €-360 Mil.
Cash Flow from Operations was 97.968 + 96.375 + 130.182 + 106.841 = €431 Mil.

Total Receivables was €710 Mil.
Revenue was 932.295 + 957.854 + 1028.451 + 965.438 = €3,884 Mil.
Gross Profit was 306.076 + 321.759 + 326.97 + 315.912 = €1,271 Mil.
Total Current Assets was €2,466 Mil.
Total Assets was €8,018 Mil.
Property, Plant and Equipment(Net PPE) was €792 Mil.
Depreciation, Depletion and Amortization(DDA) was €272 Mil.
Selling, General, & Admin. Expense(SGA) was €346 Mil.
Total Current Liabilities was €1,036 Mil.
Long-Term Debt & Capital Lease Obligation was €3,543 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)
	=	(699.285 / 3754.838)	/	(709.608 / 3884.038)
	=	0.186236	/	0.182699
	=	1.0194

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)
	=	(1270.717 / 3884.038)	/	(1156.369 / 3754.838)
	=	0.327164	/	0.307968
	=	1.0623

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 - (1930.638 + 813.143) / 7006.674)	/	(1 - (2465.942 + 792.063) / 8018.254)
	=	0.608405	/	0.593677
	=	1.0248

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
	=	3754.838	/	3884.038
	=	0.9667

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))
	=	(272.073 / (272.073 + 792.063))	/	(283.982 / (283.982 + 813.143))
	=	0.255675	/	0.258842
	=	0.9878

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)
	=	(325.814 / 3754.838)	/	(346.165 / 3884.038)
	=	0.086772	/	0.089125
	=	0.9736

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)
	=	((3126.25 + 730.451) / 7006.674)	/	((3542.754 + 1036.241) / 8018.254)
	=	0.550432	/	0.571071
	=	0.9639

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
	=	(-11.339 - -360.154	-	431.366)	/	7006.674
	=	-0.011782

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.

Sensata Technologies Holding has a M-score of -2.49 suggests that the company is unlikely to be a manipulator.

Sensata Technologies Holding Beneish M-Score Related Terms

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Sensata Technologies Holding (FRA:S94) Business Description

Industry

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ST:USA

Address

529 Pleasant Street, Attleboro, MA, USA, 02703

Website

https://www.sensata.com

Sensata Technologies is a global supplier of sensors for transportation and industrial applications. Sensata sells a bevy of pressure, temperature, force, and position sensors into the automotive, heavy vehicle, industrial, heating, ventilation, and cooling, and aerospace markets. The majority of the firm's revenue comes from the automotive market, where it focuses on bumper-in applications.

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