QEP Resources Beneish M-Score Historical Data
The historical data trend for QEP Resources'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.
QEP Resources Beneish M-Score Chart
|
QEP Resources Annual Data
|
|
Trend |
Dec11 |
Dec12 |
Dec13 |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-3.23 |
4.48 |
-3.27 |
-2.92 |
-5.31 |
|
QEP Resources Quarterly Data
|
|
Mar16 |
Jun16 |
Sep16 |
Dec16 |
Mar17 |
Jun17 |
Sep17 |
Dec17 |
Mar18 |
Jun18 |
Sep18 |
Dec18 |
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.92 |
-2.59 |
-2.18 |
1.27 |
-5.31 |
Competitive Comparison of QEP Resources's Beneish M-Score
For the Oil & Gas E&P subindustry, QEP Resources'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.
QEP Resources's Beneish M-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, QEP Resources's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where QEP Resources's Beneish M-Score falls into.
QEP Resources 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 QEP Resources 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 * 1.3967 | + | 0.528 * -3.1797 | + | 0.404 * 1.7278 | + | 0.892 * 0.6006 | + | 0.115 * 0.9017 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8893 | + | 4.679 * -0.176802 | - | 0.327 * 0.8584 |
| = | -5.16 |
* 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 (Dec20) TTM: | Last Year (Dec19) TTM: |
Total Receivables was $122.3 Mil.
Revenue was 200.2 + 177.8 + 120.6 + 225.8 = $724.4 Mil.
Gross Profit was -4.3 + -8.9 + -73.9 + 18.5 = $-68.6 Mil.
Total Current Assets was $197.0 Mil.
Total Assets was $5,114.2 Mil.
Property, Plant and Equipment(Net PPE) was $4,830.9 Mil.
Depreciation, Depletion and Amortization(DDA) was $574.0 Mil.
Selling, General, & Admin. Expense(SGA) was $83.8 Mil.
Total Current Liabilities was $299.6 Mil.
Long-Term Debt & Capital Lease Obligation was $1,622.6 Mil.
Net Income was -130.6 + -49.2 + -184.4 + 367.4 = $3.2 Mil.
Non Operating Income was -99.3 + -42 + -103.3 + 478.8 = $234.2 Mil.
Cash Flow from Operations was 119.2 + 329.6 + 72.5 + 151.9 = $673.2 Mil.
|
Total Receivables was $145.8 Mil.
Revenue was 321.9 + 307.5 + 296.2 + 280.6 = $1,206.2 Mil.
Gross Profit was 88.9 + 101.8 + 95.9 + 76.6 = $363.2 Mil.
Total Current Assets was $325.2 Mil.
Total Assets was $5,477.8 Mil.
Property, Plant and Equipment(Net PPE) was $5,099.1 Mil.
Depreciation, Depletion and Amortization(DDA) was $540.0 Mil.
Selling, General, & Admin. Expense(SGA) was $156.9 Mil.
Total Current Liabilities was $338.1 Mil.
Long-Term Debt & Capital Lease Obligation was $2,060.4 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) |
| = | (122.3 / 724.4) | / | (145.8 / 1206.2) |
| = | 0.168829 | / | 0.120875 |
| | = | 1.3967 |
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) |
| = | (363.2 / 1206.2) | / | (-68.6 / 724.4) |
| = | 0.301111 | / | -0.094699 |
| | = | -3.1797 |
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 - (197 + 4830.9) / 5114.2) | / | (1 - (325.2 + 5099.1) / 5477.8) |
| = | 0.016875 | / | 0.009767 |
| | = | 1.7278 |
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 |
| = | 724.4 | / | 1206.2 |
| | = | 0.6006 |
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)) |
| = | (540 / (540 + 5099.1)) | / | (574 / (574 + 4830.9)) |
| = | 0.09576 | / | 0.1062 |
| | = | 0.9017 |
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) |
| = | (83.8 / 724.4) | / | (156.9 / 1206.2) |
| = | 0.115682 | / | 0.130078 |
| | = | 0.8893 |
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) |
| = | ((1622.6 + 299.6) / 5114.2) | / | ((2060.4 + 338.1) / 5477.8) |
| = | 0.375855 | / | 0.437858 |
| | = | 0.8584 |
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 |
| = | (3.2 - 234.2 | - | 673.2) | / | 5114.2 |
| | = | -0.176802 |
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.
QEP Resources has a M-score of -5.16 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
QEP has been successfully added to your