Jacobs Solutions Beneish M-Score Historical Data
The historical data trend for Jacobs Solutions'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.
Jacobs Solutions Beneish M-Score Chart
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Jacobs Solutions Annual Data
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Trend |
Sep14 |
Sep15 |
Sep16 |
Sep17 |
Sep18 |
Sep19 |
Sep20 |
Sep21 |
Sep22 |
Sep23 |
| Beneish M-Score |
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-1.78 |
-2.42 |
-2.67 |
-2.43 |
-2.47 |
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Jacobs Solutions Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-2.27 |
-2.43 |
-2.47 |
-2.50 |
-2.48 |
Competitive Comparison of Jacobs Solutions's Beneish M-Score
For the Engineering & Construction subindustry, Jacobs Solutions'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.
Jacobs Solutions's Beneish M-Score Distribution in the Construction Industry
For the Construction industry and Industrials sector, Jacobs Solutions's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Jacobs Solutions's Beneish M-Score falls into.
Jacobs Solutions 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 Jacobs Solutions 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 * 1.0095 | + | 0.528 * 1.0357 | + | 0.404 * 0.9948 | + | 0.892 * 1.0461 | + | 0.115 * 0.9527 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0158 | + | 4.679 * -0.016994 | - | 0.327 * 0.9705 |
| = | -2.49 |
* 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 €3,471 Mil.
Revenue was 3927.566 + 3814.009 + 4018.523 + 3864.326 = €15,624 Mil.
Gross Profit was 832.246 + 779.943 + 854.137 + 790.774 = €3,257 Mil.
Total Current Assets was €4,596 Mil.
Total Assets was €13,706 Mil.
Property, Plant and Equipment(Net PPE) was €676 Mil.
Depreciation, Depletion and Amortization(DDA) was €282 Mil.
Selling, General, & Admin. Expense(SGA) was €2,302 Mil.
Total Current Liabilities was €3,931 Mil.
Long-Term Debt & Capital Lease Obligation was €2,453 Mil.
Net Income was 149.143 + 157.366 + 139.969 + 151.593 = €598 Mil.
Non Operating Income was -4.21 + -2.93 + -1.446 + -6.552 = €-15 Mil.
Cash Flow from Operations was -39.397 + 383.637 + 205.543 + 296.339 = €846 Mil.
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Total Receivables was €3,286 Mil.
Revenue was 3809.162 + 3585.943 + 3919.858 + 3620.43 = €14,935 Mil.
Gross Profit was 831.535 + 769.089 + 844.038 + 779.953 = €3,225 Mil.
Total Current Assets was €4,584 Mil.
Total Assets was €14,012 Mil.
Property, Plant and Equipment(Net PPE) was €760 Mil.
Depreciation, Depletion and Amortization(DDA) was €296 Mil.
Selling, General, & Admin. Expense(SGA) was €2,166 Mil.
Total Current Liabilities was €2,999 Mil.
Long-Term Debt & Capital Lease Obligation was €3,726 Mil.
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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) |
| = | (3470.685 / 15624.424) | / | (3286.492 / 14935.393) |
| = | 0.222132 | / | 0.220047 |
| | = | 1.0095 |
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) |
| = | (3224.615 / 14935.393) | / | (3257.1 / 15624.424) |
| = | 0.215904 | / | 0.208462 |
| | = | 1.0357 |
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 - (4595.821 + 675.636) / 13705.771) | / | (1 - (4583.961 + 760.095) / 14012.457) |
| = | 0.615384 | / | 0.618621 |
| | = | 0.9948 |
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 |
| = | 15624.424 | / | 14935.393 |
| | = | 1.0461 |
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)) |
| = | (296.129 / (296.129 + 760.095)) | / | (281.74 / (281.74 + 675.636)) |
| = | 0.280366 | / | 0.294284 |
| | = | 0.9527 |
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) |
| = | (2302.17 / 15624.424) | / | (2166.358 / 14935.393) |
| = | 0.147344 | / | 0.145049 |
| | = | 1.0158 |
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) |
| = | ((2452.689 + 3931.457) / 13705.771) | / | ((3725.984 + 2999.472) / 14012.457) |
| = | 0.4658 | / | 0.479963 |
| | = | 0.9705 |
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 |
| = | (598.071 - -15.138 | - | 846.122) | / | 13705.771 |
| | = | -0.016994 |
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.
Jacobs Solutions has a M-score of -2.49 suggests that the company is unlikely to be a manipulator.
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