ASMIY Beneish M Score

ASMIY -  USA Stock  

USD 415.90  8.04  1.90%

This module uses fundamental data of ASM INTERNATIONAL to approximate the value of its Beneish M Score. ASM INTERNATIONAL M Score tells investors if the company management is likely to be manipulating earnings. The score is calculated using eight financial indicators that are adjusted by a specific multiplier. Please note, the M Score is a probabilistic model and cannot detect companies that manipulate their earnings with 100% accuracy. Please continue to ASM INTERNATIONAL Piotroski F Score and ASM INTERNATIONAL Altman Z Score analysis.

ASMIY Beneish M Score 

 
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ASM INTERNATIONAL Total Debt is fairly stable at the moment as compared to the past year. ASM INTERNATIONAL reported Total Debt of 72.56 Million in 2021. Debt Non Current is likely to rise to about 11.7 M in 2022, whereas Debt Current is likely to drop slightly above 73.9 M in 2022. ASM INTERNATIONAL Price to Earnings Ratio are fairly stable at the moment as compared to the past year. ASM INTERNATIONAL reported Price to Earnings Ratio of 14.59 in 2021. Price to Sales Ratio is likely to rise to 5.06 in 2022, whereas Book Value per Share is likely to drop 26.92 in 2022.
At this time, it appears that ASM INTERNATIONAL is an unlikely manipulator. The earnings manipulation may begin if ASM INTERNATIONAL's top management creates an artificial sense of financial success, forcing the stock price to be traded at a high price-earnings multiple than it should be. In general, excessive earnings management by ASM INTERNATIONAL executives may lead to removing some of the operating profits from subsequent periods to inflate earnings in the following periods. This way, the manipulation of ASM INTERNATIONAL's earnings can lead to misrepresentations of actual financial condition, taking the otherwise loyal stakeholders on to the path of questionable ethical practices and plain fraud.
-3.03
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables
0.72
Asset Quality
-0.47
Expense Coverage
0.93
Gross Margin Strengs
0.94
Accruals Factor
0.93
Depreciation Resistance
1.01
Net Sales Growth
1.43
Financial Leverage Condition
1.17

ASM INTERNATIONAL Beneish M-Score Indicator Trends

The cure to earnings manipulation is the transparency of financial reporting. It will typically remove the temptation of the top executives to inflate earnings (i.e., to promote the idea of 'winning at any cost'). Because a healthy internal audit department can enhance transparency, the board should promote the auditors' access to all the record-keeping systems across the enterprise. For example, if ASM INTERNATIONAL's auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back.
Current ValueLast YearChange From Last Year 10 Year Trend
Revenues701.6 M491 M
Way Up
Decreasing
Slightly volatile
Selling General and Administrative Expense95.7 M72 M
Significantly Up
Decreasing
Slightly volatile
Net Cash Flow from Operations96.3 M99.4 M
Sufficiently Down
Decreasing
Slightly volatile
Depreciation Amortization and Accretion26.7 M19.1 M
Significantly Up
Decreasing
Slightly volatile
Total AssetsB2.1 B
Fairly Down
Increasing
Slightly volatile
Investments1.4 B1.3 B
Significantly Up
Increasing
Slightly volatile
Investments Non Current1.4 B1.3 B
Significantly Up
Increasing
Slightly volatile
Property Plant and Equipment Net123.1 M87.3 M
Significantly Up
Decreasing
Slightly volatile
Trade and Non Trade Receivables75.7 M73.8 M
Fairly Up
Decreasing
Slightly volatile
Total Liabilities126.3 M123.1 M
Fairly Up
Decreasing
Slightly volatile
Current Assets654.9 M556.2 M
Fairly Up
Decreasing
Slightly volatile
Assets Non Current1.2 B1.4 B
Fairly Down
Increasing
Slightly volatile
Current Liabilities180.8 M121.4 M
Way Up
Decreasing
Slightly volatile
Liabilities Non Current1.7 M1.6 M
Fairly Up
Decreasing
Slightly volatile
Total Debt96.3 M72.6 M
Significantly Up
Decreasing
Slightly volatile
Debt Current73.9 M78.2 M
Notably Down
Increasing
Slightly volatile
Debt Non Current11.7 M11.4 M
Fairly Up
Decreasing
Slightly volatile
Operating Income93.1 M81.5 M
Fairly Up
Decreasing
Slightly volatile
Gross Margin0.470.5
Notably Down
Increasing
Slightly volatile

ASM INTERNATIONAL Beneish M-Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to detect the potential manipulation of earnings. Understanding the correlation between ASM INTERNATIONAL's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards ASM INTERNATIONAL in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find ASM INTERNATIONAL's degree of accounting gimmicks and manipulations.

About ASM INTERNATIONAL Beneish M Score

M-Score is one of many grading techniques for value stocks. It was developed by Professor M. Daniel Beneish of the Kelley School of Business at Indiana University and published in 1999 under the paper titled The Detection of Earnings Manipulation. The Beneish score is a multi-factor model that utilizes financial identifiers to compile eight variables used to classify whether a company has manipulated its reported earnings. The variables are built from the officially filed financial statements to create a final score call 'M Score.' The score helps to identify companies that are likely to manipulate their profits if they show deteriorating gross margins, operating expenses, and leverage against growing revenue.

Depreciation Amortization and Accretion

26.73 MillionShare
ASM INTERNATIONAL Depreciation Amortization and Accretion is fairly stable at the moment as compared to the past year. ASM INTERNATIONAL reported Depreciation Amortization and Accretion of 19.1 Million in 2021

About ASM INTERNATIONAL Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze ASM INTERNATIONAL NV's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of ASM INTERNATIONAL using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of ASM INTERNATIONAL NV based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
ASM International NV, together with its subsidiaries, engages in the research, development, manufacture, marketing, and servicing of equipment and materials used to produce semiconductor devices. ASM International NV was founded in 1968 and is headquartered in Almere, the Netherlands. ASM INTERNATIONAL operates under Semiconductor Equipment Materials classification in the United States and is traded on NASDAQ Exchange. It employs 2583 people.

ASM INTERNATIONAL Investors Sentiment

The influence of ASM INTERNATIONAL's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in ASMIY. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock markets does not have a solid backing from leading economists and market statisticians.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards ASM INTERNATIONAL in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, ASM INTERNATIONAL's short interest history, or implied volatility extrapolated from ASM INTERNATIONAL options trading.

Current Sentiment - ASMIY

ASM INTERNATIONAL Investor Sentiment

Macroaxis portfolio users are unresponsive in their sentiment towards investing in ASM INTERNATIONAL NV. What is your sentiment towards investing in ASM INTERNATIONAL NV? Are you bullish or bearish?
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Pair Trading with ASM INTERNATIONAL

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if ASM INTERNATIONAL position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in ASM INTERNATIONAL will appreciate offsetting losses from the drop in the long position's value.

ASM INTERNATIONAL Pair Correlation

Equities Pair Trading Analysis

Correlation analysis and pair trading evaluation for ASM INTERNATIONAL and Entegris. Pair trading can be used as a hedging technique within a particular sector or industry or even over random equities to generate better risk-adjusted return
Run Pair Correlation  
Please continue to ASM INTERNATIONAL Piotroski F Score and ASM INTERNATIONAL Altman Z Score analysis. Note that the ASM INTERNATIONAL information on this page should be used as a complementary analysis to other ASM INTERNATIONAL's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Watchlist Optimization module to optimize watchlists to build efficient portfolio or rebalance existing positions based on mean-variance optimization algorithm.

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When running ASM INTERNATIONAL price analysis, check to measure ASM INTERNATIONAL's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy ASM INTERNATIONAL is operating at the current time. Most of ASM INTERNATIONAL's value examination focuses on studying past and present price action to predict the probability of ASM INTERNATIONAL's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move ASM INTERNATIONAL's price. Additionally, you may evaluate how the addition of ASM INTERNATIONAL to your portfolios can decrease your overall portfolio volatility.
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Is ASM INTERNATIONAL's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of ASM INTERNATIONAL. If investors know ASMIY will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about ASM INTERNATIONAL listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of ASM INTERNATIONAL is measured differently than its book value, which is the value of ASMIY that is recorded on the company's balance sheet. Investors also form their own opinion of ASM INTERNATIONAL's value that differs from its market value or its book value, called intrinsic value, which is ASM INTERNATIONAL's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because ASM INTERNATIONAL's market value can be influenced by many factors that don't directly affect ASM INTERNATIONAL's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between ASM INTERNATIONAL's value and its price as these two are different measures arrived at by different means. Investors typically determine ASM INTERNATIONAL value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ASM INTERNATIONAL's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.