Asml Hld Beneish M Score

ASML -  USA Stock  

USD 864.74  799.84  1,232%

This module uses fundamental data of Asml Hld to approximate the value of its Beneish M Score. Asml Hld 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 Asml Hld Piotroski F Score and Asml Hld Altman Z Score analysis.

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Asml Hld Total Debt is relatively stable at the moment as compared to the past year. The company's current value of Total Debt is estimated at 5.05 Billion. Debt Current is expected to hike to about 18.2 M this year, although the value of Debt Non Current will most likely fall to nearly 3.7 B. Asml Hld Free Cash Flow per Share is relatively stable at the moment as compared to the past year. The company's current value of Free Cash Flow per Share is estimated at 9.45. Gross Margin is expected to hike to 0.51 this year, although Book Value per Share will most likely fall to 31.16.
At this time, it appears that Asml Hld NY is an unlikely manipulator. The earnings manipulation may begin if Asml Hld'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 Asml Hld 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 Asml Hld'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.
-2.86
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables
1.21
Asset Quality
0.77
Expense Coverage
1.08
Gross Margin Strengs
1.05
Accruals Factor
1.08
Depreciation Resistance
0.94
Net Sales Growth
0.85
Financial Leverage Condition
1.05

Asml Hld 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 Asml Hld'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
Revenues11.8 B14 B
Fairly Down
Increasing
Slightly volatile
Selling General and Administrative Expense496.3 M544.9 M
Significantly Down
Increasing
Slightly volatile
Net Cash Flow from OperationsB4.6 B
Significantly Up
Increasing
Slightly volatile
Depreciation Amortization and Accretion449.4 M490.8 M
Significantly Down
Increasing
Slightly volatile
Total Assets24.1 B28.9 B
Significantly Down
Increasing
Slightly volatile
Investments4.6 B4.2 B
Significantly Up
Increasing
Slightly volatile
Investments Current3.3 BB
Significantly Up
Increasing
Slightly volatile
Investments Non Current1.3 B1.2 B
Significantly Up
Increasing
Slightly volatile
Property Plant and Equipment Net2.4 B2.8 B
Fairly Down
Increasing
Slightly volatile
Trade and Non Trade Receivables1.3 B1.3 B
Fairly Up
Increasing
Slightly volatile
Total Liabilities10.9 B13.6 B
Significantly Down
Increasing
Slightly volatile
Current Assets13.2 B15.8 B
Fairly Down
Increasing
Slightly volatile
Assets Non Current10.8 B13.1 B
Significantly Down
Increasing
Slightly volatile
Current Liabilities5.4 B6.6 B
Significantly Down
Increasing
Slightly volatile
Liabilities Non Current5.5 BB
Significantly Down
Increasing
Slightly volatile
Total DebtB4.7 B
Significantly Up
Increasing
Slightly volatile
Debt Current18.2 M17.7 M
Fairly Up
Increasing
Stable
Debt Non Current3.7 B4.7 B
Significantly Down
Increasing
Slightly volatile
Operating Income3.3 B4.1 B
Significantly Down
Increasing
Slightly volatile
Gross Margin0.510.486
Sufficiently Up
Increasing
Slightly volatile

Asml Hld NY 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 Asml Hld's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Asml Hld in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find Asml Hld's degree of accounting gimmicks and manipulations.

About Asml Hld 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

449.35 MillionShare
Asml Hld Depreciation Amortization and Accretion is relatively stable at the moment as compared to the past year. The company's current value of Depreciation Amortization and Accretion is estimated at 449.35 Million

Asml Hld Earnings Manipulation Drivers

Although earnings manipulation is typically not the result of intentional misconduct by the c-level executives, it is still a widespread practice by the senior management of public companies such as Asml Hld. It is usually done by a series of misrepresentations of various accounting rules and operating activities across multiple financial cycles. The best way to spot the manipulation is to examine the historical financial statement to find inconsistencies in earning reports to find trends in assets or liabilities that are not sustainable in the future.
201620172018201920202021 (projected)
Revenues6.88 B8.96 B10.94 B11.82 B13.98 B11.82 B
Total Assets18.67 B19.6 B20.14 B22.63 B28.87 B24.05 B
Current Assets8.44 B8.79 B10.53 B12.13 B15.77 B13.23 B
Assets Non Current10.23 B10.81 B9.61 B10.5 B13.1 B10.82 B
Total Liabilities7.49 B7.41 B8.5 B10.04 B13.57 B10.92 B
Current Liabilities3.08 B3.14 B3.79 B4.69 B6.6 B5.4 B
Total Debt3.32 B3.03 B3.03 B3.11 B4.68 B5.05 B
Debt Current4.21 M247.7 M25.2 M15.4 M17.71 M18.18 M
Debt Non Current3.07 B3 B3.03 B3.11 B4.66 B3.71 B
Operating Income1.91 B2.34 B2.97 B2.79 B4.05 B3.29 B
Investments1.65 B2.23 B2.72 B3 B4.23 B4.57 B
Investments Current1.6 B1.09 B1.52 B1.75 B3.01 B3.25 B

About Asml Hld Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Asml Hld NY's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Asml Hld using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Asml Hld NY 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.
ASML Holding N.V. develops, produces, markets, sells, and services advanced semiconductor equipment systems consisting of lithography, metrology, and inspection related systems for memory and logic chipmakers. ASML Holding N.V. was founded in 1984 and is headquartered in Veldhoven, the Netherlands. Asml Hld operates under Semiconductor Equipment Materials classification in the United States and is traded on NASDAQ Exchange. It employs 27777 people.

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Pair Trading with Asml Hld

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 Asml Hld 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 Asml Hld will appreciate offsetting losses from the drop in the long position's value.

Asml Hld Pair Correlation

Equities Pair Trading Analysis

Correlation analysis and pair trading evaluation for Asml Hld and Daqo New Energy. 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
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Please continue to Asml Hld Piotroski F Score and Asml Hld Altman Z Score analysis. Note that the Asml Hld NY information on this page should be used as a complementary analysis to other Asml Hld'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 Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.

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When running Asml Hld NY price analysis, check to measure Asml Hld'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 Asml Hld is operating at the current time. Most of Asml Hld's value examination focuses on studying past and present price action to predict the probability of Asml Hld's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Asml Hld's price. Additionally, you may evaluate how the addition of Asml Hld to your portfolios can decrease your overall portfolio volatility.
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The market value of Asml Hld NY is measured differently than its book value, which is the value of Asml Hld that is recorded on the company's balance sheet. Investors also form their own opinion of Asml Hld's value that differs from its market value or its book value, called intrinsic value, which is Asml Hld'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 Asml Hld's market value can be influenced by many factors that don't directly affect Asml Hld NY underlying business (such as pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Asml Hld's value and its price as these two are different measures arrived at by different means. Investors typically determine Asml Hld value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Asml Hld'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.