WK Kellogg Co Beneish M-Score Historical Data
The historical data trend for WK Kellogg 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.
WK Kellogg Co Beneish M-Score Chart
|
WK Kellogg Co Annual Data
|
|
Trend |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
- |
- |
- |
-2.91 |
|
WK Kellogg Co Quarterly Data
|
|
Dec20 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
- |
- |
- |
-2.91 |
-2.57 |
Competitive Comparison of WK Kellogg Co's Beneish M-Score
For the Packaged Foods subindustry, WK Kellogg 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.
WK Kellogg Co's Beneish M-Score Distribution in the Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, WK Kellogg Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where WK Kellogg Co's Beneish M-Score falls into.
WK Kellogg 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 WK Kellogg 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 * 1.1627 | + | 0.528 * 0.8612 | + | 0.404 * 3.1167 | + | 0.892 * 0.9439 | + | 0.115 * 1.0897 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0845 | + | 4.679 * -0.171185 | - | 0.327 * 1.535 |
| = | -2.58 |
* 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 €224 Mil.
Revenue was 650.44 + 596.967 + 648.404 + 630.409 = €2,526 Mil.
Gross Profit was 186.76 + 170.562 + 183.652 + 181.831 = €723 Mil.
Total Current Assets was €611 Mil.
Total Assets was €1,737 Mil.
Property, Plant and Equipment(Net PPE) was €676 Mil.
Depreciation, Depletion and Amortization(DDA) was €63 Mil.
Selling, General, & Admin. Expense(SGA) was €614 Mil.
Total Current Liabilities was €726 Mil.
Long-Term Debt & Capital Lease Obligation was €445 Mil.
Net Income was 30.36 + 13.755 + 39.354 + 16.614 = €100 Mil.
Non Operating Income was 5.52 + 9.17 + 35.606 + 6.461 = €57 Mil.
Cash Flow from Operations was 9.2 + 218.246 + 41.228 + 71.994 = €341 Mil.
|
Total Receivables was €205 Mil.
Revenue was 672.48 + 639.088 + 712.05 + 652.74 = €2,676 Mil.
Gross Profit was 168.12 + 156.704 + 175.74 + 158.928 = €659 Mil.
Total Current Assets was €562 Mil.
Total Assets was €1,337 Mil.
Property, Plant and Equipment(Net PPE) was €664 Mil.
Depreciation, Depletion and Amortization(DDA) was €68 Mil.
Selling, General, & Admin. Expense(SGA) was €600 Mil.
Total Current Liabilities was €583 Mil.
Long-Term Debt & Capital Lease Obligation was €5 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) |
| = | (224.48 / 2526.22) | / | (204.546 / 2676.358) |
| = | 0.08886 | / | 0.076427 |
| | = | 1.1627 |
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) |
| = | (659.492 / 2676.358) | / | (722.805 / 2526.22) |
| = | 0.246414 | / | 0.286121 |
| | = | 0.8612 |
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 - (610.88 + 676.2) / 1736.96) | / | (1 - (562.268 + 664.074) / 1337.488) |
| = | 0.259004 | / | 0.083101 |
| | = | 3.1167 |
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 |
| = | 2526.22 | / | 2676.358 |
| | = | 0.9439 |
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)) |
| = | (67.818 / (67.818 + 664.074)) | / | (62.843 / (62.843 + 676.2)) |
| = | 0.092661 | / | 0.085033 |
| | = | 1.0897 |
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) |
| = | (613.917 / 2526.22) | / | (599.718 / 2676.358) |
| = | 0.243018 | / | 0.22408 |
| | = | 1.0845 |
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) |
| = | ((445.28 + 725.88) / 1736.96) | / | ((4.67 + 582.816) / 1337.488) |
| = | 0.674258 | / | 0.439246 |
| | = | 1.535 |
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 |
| = | (100.083 - 56.757 | - | 340.668) | / | 1736.96 |
| | = | -0.171185 |
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.
WK Kellogg Co has a M-score of -2.58 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
FRA:KU9 has been successfully added to your