Atmus Filtration Technologies Beneish M-Score Historical Data
The historical data trend for Atmus Filtration 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.
Atmus Filtration Technologies Beneish M-Score Chart
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Atmus Filtration Technologies Annual Data
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Trend |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
- |
-3.24 |
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Atmus Filtration Technologies Quarterly Data
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Dec20 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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- |
- |
- |
-3.24 |
-2.52 |
Competitive Comparison of Atmus Filtration Technologies's Beneish M-Score
For the Pollution & Treatment Controls subindustry, Atmus Filtration 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.
Atmus Filtration Technologies's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Atmus Filtration Technologies's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Atmus Filtration Technologies's Beneish M-Score falls into.
Atmus Filtration 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 Atmus Filtration 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 * 1.0437 | + | 0.528 * 0.9128 | + | 0.404 * 0.9077 | + | 0.892 * 1.0237 | + | 0.115 * 1.1697 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1945 | + | 4.679 * -0.012317 | - | 0.327 * 0.8363 |
| = | -2.52 |
* 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 $262 Mil.
Revenue was 426.6 + 399.7 + 396.2 + 413.6 = $1,636 Mil.
Gross Profit was 111.8 + 105.6 + 102.9 + 114.4 = $435 Mil.
Total Current Assets was $699 Mil.
Total Assets was $1,104 Mil.
Property, Plant and Equipment(Net PPE) was $181 Mil.
Depreciation, Depletion and Amortization(DDA) was $22 Mil.
Selling, General, & Admin. Expense(SGA) was $179 Mil.
Total Current Liabilities was $349 Mil.
Long-Term Debt & Capital Lease Obligation was $610 Mil.
Net Income was 45.5 + 34.8 + 37.6 + 46.2 = $164 Mil.
Non Operating Income was 10.6 + 10.4 + 9.2 + 9.5 = $40 Mil.
Cash Flow from Operations was -8.2 + 41.7 + 58.3 + 46.2 = $138 Mil.
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Total Receivables was $245 Mil.
Revenue was 418.6 + 385.2 + 401.2 + 393.2 = $1,598 Mil.
Gross Profit was 109.8 + 82.7 + 99.7 + 95.4 = $388 Mil.
Total Current Assets was $630 Mil.
Total Assets was $1,008 Mil.
Property, Plant and Equipment(Net PPE) was $153 Mil.
Depreciation, Depletion and Amortization(DDA) was $22 Mil.
Selling, General, & Admin. Expense(SGA) was $146 Mil.
Total Current Liabilities was $369 Mil.
Long-Term Debt & Capital Lease Obligation was $678 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) |
| = | (262.2 / 1636.1) | / | (245.4 / 1598.2) |
| = | 0.160259 | / | 0.153548 |
| | = | 1.0437 |
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) |
| = | (387.6 / 1598.2) | / | (434.7 / 1636.1) |
| = | 0.242523 | / | 0.265693 |
| | = | 0.9128 |
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 - (699.4 + 181.2) / 1104.2) | / | (1 - (630.4 + 152.5) / 1007.7) |
| = | 0.2025 | / | 0.223082 |
| | = | 0.9077 |
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 |
| = | 1636.1 | / | 1598.2 |
| | = | 1.0237 |
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)) |
| = | (21.6 / (21.6 + 152.5)) | / | (21.5 / (21.5 + 181.2)) |
| = | 0.124067 | / | 0.106068 |
| | = | 1.1697 |
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) |
| = | (178.9 / 1636.1) | / | (146.3 / 1598.2) |
| = | 0.109345 | / | 0.09154 |
| | = | 1.1945 |
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) |
| = | ((610.2 + 349.4) / 1104.2) | / | ((677.9 + 369.2) / 1007.7) |
| = | 0.869045 | / | 1.039099 |
| | = | 0.8363 |
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 |
| = | (164.1 - 39.7 | - | 138) | / | 1104.2 |
| | = | -0.012317 |
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.
Atmus Filtration Technologies has a M-score of -2.52 suggests that the company is unlikely to be a manipulator.
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