IBM company 2020 M Score PDF

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Summary

practice on m score concept , relevant to credit analysis...

Description

9/21/21, 3:12 PM

Beneish M-Score Calculator: Kelley School of Business: Indiana University

Beneish M-Score Calculator Perform New Calculaon (/Beneish/MScore/MSCOREINPUT)

IBM Analysis

Variable

Assessment

Day Sales in Receivable Index

0.270

Neutral

Gross Margin Index

0.979

Neutral

Asset Quality Index

1.009

Neutral

Sales Growth Index

0.954

Neutral

Depreciaon Index

0.682

Neutral

SG&A Index

1.159

Increasing expenses

Accruals to Total Assets

-0.081

Neutral

Leverage Index

0.997

Neutral

M-Score

-3.644

No manipulaon

Esmated Probability

0.000

Odds Rao

0.02 to 1

Addional Computaons

2020

2019

Days in receivables

91.63

575.75

Gross Margin

48.3%

47.3%

Depreciaon Rate

7.1%

4.8%

Capital Intensity (PPE/A)

9.4%

9.9%

SG&A to Sales

29.7%

25.6%

Leverage ((CL+LTD/A))

62.7%

62.9%

Accruals to total assets

-8.1%

-3.5%

Profit Margin (NI/S)

7.5%

12.2%

Asset Turnover (S/A)

0.47

0.51

Return on Assets (NI/A)

3.5%

6.2%

https://apps.kelley.iu.edu/Beneish/MScore/MSCOREINPUT

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9/21/21, 3:12 PM

Beneish M-Score Calculator: Kelley School of Business: Indiana University

Return on Equity (NI/SE)

9.5%

16.7%

Interpreng the M-Score

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