WestRock Co Beneish M-Score Historical Data
The historical data trend for WestRock Co'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.
WestRock Co Beneish M-Score Chart
|
WestRock Co Annual Data
|
|
Trend |
Sep14 |
Sep15 |
Sep16 |
Sep17 |
Sep18 |
Sep19 |
Sep20 |
Sep21 |
Sep22 |
Sep23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.64 |
-2.67 |
-2.51 |
-2.61 |
-2.79 |
|
WestRock Co 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.79 |
-2.79 |
-2.79 |
-2.76 |
-2.70 |
Competitive Comparison of WestRock Co's Beneish M-Score
For the Packaging & Containers subindustry, WestRock Co'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.
WestRock Co's Beneish M-Score Distribution in the Packaging & Containers Industry
For the Packaging & Containers industry and Consumer Cyclical sector, WestRock Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where WestRock Co's Beneish M-Score falls into.
WestRock Co 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 WestRock Co 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 * 0.9965 | + | 0.528 * 1.0462 | + | 0.404 * 1.0328 | + | 0.892 * 0.9211 | + | 0.115 * 0.9949 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1862 | + | 4.679 * -0.037357 | - | 0.327 * 0.9355 |
| = | -2.70 |
* 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 $2,584 Mil.
Revenue was 4726.7 + 4620 + 4988.2 + 5121.1 = $19,456 Mil.
Gross Profit was 780.1 + 758.8 + 877.5 + 1021.5 = $3,438 Mil.
Total Current Assets was $6,343 Mil.
Total Assets was $26,884 Mil.
Property, Plant and Equipment(Net PPE) was $11,241 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,537 Mil.
Selling, General, & Admin. Expense(SGA) was $2,062 Mil.
Total Current Liabilities was $4,737 Mil.
Long-Term Debt & Capital Lease Obligation was $7,718 Mil.
Net Income was 15.5 + -22.4 + 109.8 + 202 = $305 Mil.
Non Operating Income was -94.4 + -65.3 + -109.7 + -11.4 = $-281 Mil.
Cash Flow from Operations was 37.1 + 275 + 584.3 + 693.6 = $1,590 Mil.
|
Total Receivables was $2,815 Mil.
Revenue was 5277.6 + 4923.1 + 5402.5 + 5519.7 = $21,123 Mil.
Gross Profit was 920 + 766 + 1059.3 + 1159.4 = $3,905 Mil.
Total Current Assets was $7,598 Mil.
Total Assets was $28,210 Mil.
Property, Plant and Equipment(Net PPE) was $11,163 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,518 Mil.
Selling, General, & Admin. Expense(SGA) was $1,887 Mil.
Total Current Liabilities was $4,968 Mil.
Long-Term Debt & Capital Lease Obligation was $9,004 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) |
| = | (2583.7 / 19456) | / | (2814.9 / 21122.9) |
| = | 0.132797 | / | 0.133263 |
| | = | 0.9965 |
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) |
| = | (3904.7 / 21122.9) | / | (3437.9 / 19456) |
| = | 0.184856 | / | 0.176701 |
| | = | 1.0462 |
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 - (6343.3 + 11240.7) / 26884) | / | (1 - (7598.3 + 11163) / 28210.4) |
| = | 0.345931 | / | 0.334951 |
| | = | 1.0328 |
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 |
| = | 19456 | / | 21122.9 |
| | = | 0.9211 |
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)) |
| = | (1517.5 / (1517.5 + 11163)) | / | (1537 / (1537 + 11240.7)) |
| = | 0.119672 | / | 0.120288 |
| | = | 0.9949 |
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) |
| = | (2061.7 / 19456) | / | (1887 / 21122.9) |
| = | 0.105967 | / | 0.089334 |
| | = | 1.1862 |
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) |
| = | ((7718.2 + 4737.4) / 26884) | / | ((9004 + 4967.5) / 28210.4) |
| = | 0.463309 | / | 0.495261 |
| | = | 0.9355 |
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 |
| = | (304.9 - -280.8 | - | 1590) | / | 26884 |
| | = | -0.037357 |
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.
WestRock Co has a M-score of -2.70 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
WRK has been successfully added to your