Intel Beneish M Score

INTC
 Stock
  

USD 28.60  0.57  1.95%   

This module uses fundamental data of Intel to approximate the value of its Beneish M Score. Intel 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 see Intel Piotroski F Score and Intel Altman Z Score analysis.
  
Intel Total Debt is projected to increase significantly based on the last few years of reporting. The past year's Total Debt was at 25.28 Billion. The current year Debt Non Current is expected to grow to about 22.9 B, whereas Debt Current is forecasted to decline to about 3.7 B. Intel Calculated Tax Rate is projected to drop slightly based on the last few years of reporting. The past year's Calculated Tax Rate was at 20.19. The current year PPandE Turnover is expected to grow to 1.95, whereas Long Term Debt to Equity is forecasted to decline to 0.28.
At this time, it appears that Intel is an unlikely manipulator. The earnings manipulation may begin if Intel'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 Intel 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 Intel'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.
-2.81
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables1.26Focus
Asset Quality0.37Focus
Expense Coverage0.94Focus
Gross Margin Strengs1.11Focus
Accruals Factor0.94Focus
Depreciation Resistance0.99Focus
Net Sales Growth0.96Focus
Financial Leverage Condition1.04Focus

Intel 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 Intel'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
Selling General and Administrative Expense7.5 B8.4 B
Moderately Down
Increasing
Stable
Revenues57.1 B59.4 B
Sufficiently Down
Increasing
Stable
Trade and Non Trade Receivables5.7 B4.7 B
Fairly Up
Decreasing
Stable
Property Plant and Equipment Net42.7 B36.2 B
Fairly Up
Decreasing
Very volatile
Operating Income14.1 B12.9 B
Significantly Up
Decreasing
Stable
Net Cash Flow from Operations21.6 B21.8 B
Slightly Down
Increasing
Stable
Liabilities Non Current31.4 B26.8 B
Fairly Up
Decreasing
Very volatile
Current Liabilities18 B20.3 B
Fairly Down
Increasing
Stable
Total Liabilities43.2 B46.2 B
Notably Down
Increasing
Stable
Investments Non Current10.2 B10.9 B
Notably Down
Increasing
Slightly volatile
Investments Current13.3 B11.5 B
Fairly Up
Decreasing
Stable
Investments23.5 B22.4 B
Sufficiently Up
Increasing
Very volatile
Gross Margin67.3460.9409
Significantly Up
Increasing
Very volatile
Depreciation Amortization and Accretion9.3 B7.8 B
Fairly Up
Decreasing
Very volatile
Debt Non Current22.9 B20.6 B
Significantly Up
Increasing
Very volatile
Debt Current3.7 B4.6 B
Significantly Down
Increasing
Stable
Total Debt26.6 B25.3 B
Sufficiently Up
Increasing
Very volatile
Assets Non Current87.1 B77.8 B
Moderately Up
Increasing
Very volatile
Current Assets33.4 B35.5 B
Notably Down
Increasing
Very volatile
Total Assets106.3 B113.3 B
Notably Down
Increasing
Stable

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

About Intel 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

9.3 Billion

Intel Depreciation Amortization and Accretion is projected to decrease significantly based on the last few years of reporting. The past year's Depreciation Amortization and Accretion was at 7.79 Billion

Intel ESG Sustainability

Some studies have found that companies with high sustainability scores are getting higher valuations than competitors with lower social-engagement activities. While most ESG disclosures are voluntary and do not directly affect the long term financial condition, Intel's sustainability indicators can be used to identify proper investment strategies using environmental, social, and governance scores that are crucial to Intel's managers, analysts, and investors.
Environment Score
Governance Score
Social Score

About Intel Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Intel's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Intel using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Intel 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.
Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company was incorporated in 1968 and is headquartered in Santa Clara, California. Intel Corp operates under Semiconductors classification in the United States and is traded on NASDAQ Exchange. It employs 121100 people.

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Please see Intel Piotroski F Score and Intel Altman Z Score analysis. You can also try Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.

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Is Intel'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 Intel. If investors know Intel 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 Intel listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
(0.85) 
Market Capitalization
118 B
Quarterly Revenue Growth YOY
(0.20) 
Return On Assets
0.0293
Return On Equity
0.14
The market value of Intel is measured differently than its book value, which is the value of Intel that is recorded on the company's balance sheet. Investors also form their own opinion of Intel's value that differs from its market value or its book value, called intrinsic value, which is Intel'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 Intel's market value can be influenced by many factors that don't directly affect Intel'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 Intel's value and its price as these two are different measures arrived at by different means. Investors typically determine Intel value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Intel'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.