John Bean Technologies Beneish M-Score Historical Data
The historical data trend for John Bean Technologies'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.
John Bean Technologies Beneish M-Score Chart
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John Bean Technologies Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.28 |
-2.93 |
-2.52 |
-2.56 |
-1.50 |
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John Bean Technologies 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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-2.29 |
-2.58 |
-1.81 |
-1.50 |
-1.77 |
Competitive Comparison of John Bean Technologies's Beneish M-Score
For the Specialty Industrial Machinery subindustry, John Bean Technologies'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.
John Bean Technologies's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, John Bean Technologies's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where John Bean Technologies's Beneish M-Score falls into.
John Bean Technologies 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 John Bean Technologies 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 * 0.7585 | + | 0.528 * 0.939 | + | 0.404 * 0.893 | + | 0.892 * 1.0282 | + | 0.115 * 0.8346 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0218 | + | 4.679 * 0.192626 | - | 0.327 * 0.6776 |
| = | -1.77 |
* 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 $299 Mil.
Revenue was 392.3 + 444.6 + 403.6 + 427.7 = $1,668 Mil.
Gross Profit was 140.3 + 163.5 + 143.9 + 146.3 = $594 Mil.
Total Current Assets was $1,102 Mil.
Total Assets was $2,691 Mil.
Property, Plant and Equipment(Net PPE) was $247 Mil.
Depreciation, Depletion and Amortization(DDA) was $91 Mil.
Selling, General, & Admin. Expense(SGA) was $418 Mil.
Total Current Liabilities was $466 Mil.
Long-Term Debt & Capital Lease Obligation was $647 Mil.
Net Income was 22.8 + 58.4 + 467.6 + 31 = $580 Mil.
Non Operating Income was -1.1 + -1.7 + -6.4 + -2.5 = $-12 Mil.
Cash Flow from Operations was 10.4 + -21.4 + 33 + 51.2 = $73 Mil.
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Total Receivables was $384 Mil.
Revenue was 388.5 + 441.2 + 398.8 + 394 = $1,623 Mil.
Gross Profit was 132.9 + 145.4 + 135.5 + 128.7 = $543 Mil.
Total Current Assets was $866 Mil.
Total Assets was $2,580 Mil.
Property, Plant and Equipment(Net PPE) was $273 Mil.
Depreciation, Depletion and Amortization(DDA) was $79 Mil.
Selling, General, & Admin. Expense(SGA) was $397 Mil.
Total Current Liabilities was $618 Mil.
Long-Term Debt & Capital Lease Obligation was $957 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) |
| = | (299.3 / 1668.2) | / | (383.8 / 1622.5) |
| = | 0.179415 | / | 0.236549 |
| | = | 0.7585 |
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) |
| = | (542.5 / 1622.5) | / | (594 / 1668.2) |
| = | 0.334361 | / | 0.356072 |
| | = | 0.939 |
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 - (1102.4 + 246.7) / 2690.7) | / | (1 - (866.2 + 273.1) / 2579.6) |
| = | 0.498606 | / | 0.558342 |
| | = | 0.893 |
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 |
| = | 1668.2 | / | 1622.5 |
| | = | 1.0282 |
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)) |
| = | (79 / (79 + 273.1)) | / | (90.7 / (90.7 + 246.7)) |
| = | 0.224368 | / | 0.26882 |
| | = | 0.8346 |
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) |
| = | (417.5 / 1668.2) | / | (397.4 / 1622.5) |
| = | 0.25027 | / | 0.244931 |
| | = | 1.0218 |
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) |
| = | ((647 + 466.1) / 2690.7) | / | ((956.5 + 618.3) / 2579.6) |
| = | 0.413684 | / | 0.610482 |
| | = | 0.6776 |
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 |
| = | (579.8 - -11.7 | - | 73.2) | / | 2690.7 |
| | = | 0.192626 |
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.
John Bean Technologies has a M-score of -1.77 signals that the company is likely to be a manipulator.
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