Northrop Grumman Beneish M-Score Historical Data
The historical data trend for Northrop Grumman'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.
Northrop Grumman Beneish M-Score Chart
|
Northrop Grumman Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.58 |
-2.64 |
-2.68 |
-2.52 |
-2.62 |
|
Northrop Grumman 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.50 |
-2.72 |
-2.65 |
-2.62 |
- |
Competitive Comparison of Northrop Grumman's Beneish M-Score
For the Aerospace & Defense subindustry, Northrop Grumman'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.
Northrop Grumman's Beneish M-Score Distribution in the Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Northrop Grumman's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Northrop Grumman's Beneish M-Score falls into.
Northrop Grumman 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 Northrop Grumman 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 * 0.9255 | + | 0.528 * 1.2244 | + | 0.404 * 0.9587 | + | 0.892 * 1.0813 | + | 0.115 * 1.0685 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9411 | + | 4.679 * -0.040257 | - | 0.327 * 1.0554 |
| = | -2.56 |
* 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 $8,282 Mil.
Revenue was 10133 + 10638 + 9775 + 9576 = $40,122 Mil.
Gross Profit was 2133 + 485 + 2041 + 2040 = $6,699 Mil.
Total Current Assets was $14,796 Mil.
Total Assets was $47,818 Mil.
Property, Plant and Equipment(Net PPE) was $11,453 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,339 Mil.
Selling, General, & Admin. Expense(SGA) was $3,870 Mil.
Total Current Liabilities was $13,132 Mil.
Long-Term Debt & Capital Lease Obligation was $16,572 Mil.
Net Income was 944 + -535 + 937 + 812 = $2,158 Mil.
Non Operating Income was 38 + -236 + 243 + 167 = $212 Mil.
Cash Flow from Operations was -706 + 2430 + 1228 + 919 = $3,871 Mil.
|
Total Receivables was $8,276 Mil.
Revenue was 9301 + 10033 + 8971 + 8801 = $37,106 Mil.
Gross Profit was 1985 + 1824 + 1818 + 1959 = $7,586 Mil.
Total Current Assets was $12,810 Mil.
Total Assets was $44,244 Mil.
Property, Plant and Equipment(Net PPE) was $10,617 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,337 Mil.
Selling, General, & Admin. Expense(SGA) was $3,803 Mil.
Total Current Liabilities was $10,483 Mil.
Long-Term Debt & Capital Lease Obligation was $15,559 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) |
| = | (8282 / 40122) | / | (8276 / 37106) |
| = | 0.20642 | / | 0.223037 |
| | = | 0.9255 |
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) |
| = | (7586 / 37106) | / | (6699 / 40122) |
| = | 0.204441 | / | 0.166966 |
| | = | 1.2244 |
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 - (14796 + 11453) / 47818) | / | (1 - (12810 + 10617) / 44244) |
| = | 0.451064 | / | 0.470504 |
| | = | 0.9587 |
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 |
| = | 40122 | / | 37106 |
| | = | 1.0813 |
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)) |
| = | (1337 / (1337 + 10617)) | / | (1339 / (1339 + 11453)) |
| = | 0.111845 | / | 0.104675 |
| | = | 1.0685 |
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) |
| = | (3870 / 40122) | / | (3803 / 37106) |
| = | 0.096456 | / | 0.10249 |
| | = | 0.9411 |
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) |
| = | ((16572 + 13132) / 47818) | / | ((15559 + 10483) / 44244) |
| = | 0.621189 | / | 0.5886 |
| | = | 1.0554 |
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 |
| = | (2158 - 212 | - | 3871) | / | 47818 |
| | = | -0.040257 |
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.
Northrop Grumman has a M-score of -2.56 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
NOC has been successfully added to your