TriMas Beneish M-Score Historical Data
The historical data trend for TriMas'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.
TriMas Beneish M-Score Chart
|
TriMas Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.25 |
-2.72 |
-2.71 |
-2.50 |
-2.51 |
|
TriMas Quarterly Data
|
|
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.57 |
-2.50 |
-2.51 |
-2.54 |
-2.59 |
Competitive Comparison of TriMas's Beneish M-Score
For the Packaging & Containers subindustry, TriMas'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.
TriMas's Beneish M-Score Distribution in the Packaging & Containers Industry
For the Packaging & Containers industry and Consumer Cyclical sector, TriMas's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where TriMas's Beneish M-Score falls into.
TriMas 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 TriMas 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 * 0.9821 | + | 0.528 * 0.9989 | + | 0.404 * 0.9509 | + | 0.892 * 1.0483 | + | 0.115 * 1.0046 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9398 | + | 4.679 * -0.026013 | - | 0.327 * 1.0104 |
| = | -2.59 |
* 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 (Jun24) TTM: | Last Year (Jun23) TTM: |
Total Receivables was $169.7 Mil.
Revenue was 240.5 + 227.1 + 209.56 + 235.34 = $912.5 Mil.
Gross Profit was 54.01 + 52.71 + 43.17 + 55.93 = $205.8 Mil.
Total Current Assets was $438.9 Mil.
Total Assets was $1,365.8 Mil.
Property, Plant and Equipment(Net PPE) was $368.5 Mil.
Depreciation, Depletion and Amortization(DDA) was $56.3 Mil.
Selling, General, & Admin. Expense(SGA) was $138.9 Mil.
Total Current Liabilities was $155.7 Mil.
Long-Term Debt & Capital Lease Obligation was $463.4 Mil.
Net Income was 10.94 + 5.14 + 7.94 + 16.49 = $40.5 Mil.
Non Operating Income was 0.04 + -0.32 + -0.27 + -0.05 = $-0.6 Mil.
Cash Flow from Operations was 18.36 + -3.69 + 30.59 + 31.38 = $76.6 Mil.
|
Total Receivables was $164.8 Mil.
Revenue was 233.19 + 215.46 + 203.31 + 218.53 = $870.5 Mil.
Gross Profit was 54.53 + 47.69 + 45.58 + 48.33 = $196.1 Mil.
Total Current Assets was $409.9 Mil.
Total Assets was $1,356.4 Mil.
Property, Plant and Equipment(Net PPE) was $363.3 Mil.
Depreciation, Depletion and Amortization(DDA) was $55.8 Mil.
Selling, General, & Admin. Expense(SGA) was $141.0 Mil.
Total Current Liabilities was $151.6 Mil.
Long-Term Debt & Capital Lease Obligation was $456.9 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) |
| = | (169.66 / 912.5) | / | (164.8 / 870.49) |
| = | 0.185929 | / | 0.189319 |
| | = | 0.9821 |
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) |
| = | (196.13 / 870.49) | / | (205.82 / 912.5) |
| = | 0.22531 | / | 0.225556 |
| | = | 0.9989 |
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 - (438.9 + 368.53) / 1365.84) | / | (1 - (409.94 + 363.25) / 1356.36) |
| = | 0.40884 | / | 0.429952 |
| | = | 0.9509 |
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 |
| = | 912.5 | / | 870.49 |
| | = | 1.0483 |
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)) |
| = | (55.77 / (55.77 + 363.25)) | / | (56.28 / (56.28 + 368.53)) |
| = | 0.133096 | / | 0.132483 |
| | = | 1.0046 |
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) |
| = | (138.89 / 912.5) | / | (140.99 / 870.49) |
| = | 0.152208 | / | 0.161966 |
| | = | 0.9398 |
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) |
| = | ((463.43 + 155.69) / 1365.84) | / | ((456.87 + 151.62) / 1356.36) |
| = | 0.453289 | / | 0.44862 |
| | = | 1.0104 |
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 |
| = | (40.51 - -0.6 | - | 76.64) | / | 1365.84 |
| | = | -0.026013 |
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.
TriMas has a M-score of -2.59 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
TRS has been successfully added to your