Rogers Beneish M Score

ROG
 Stock
  

USD 261.00  1.09  0.42%   

This module uses fundamental data of Rogers Corp to approximate the value of its Beneish M Score. Rogers Corp 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. Additionally, take a look at Rogers Corp Piotroski F Score and Rogers Corp Altman Z Score analysis.
  
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The current year Total Debt is expected to grow to about 237.8 M. The current year Debt Current is expected to grow to about 4.7 M. Rogers Corp Long Term Debt to Equity is projected to slightly decrease based on the last few years of reporting. The past year's Long Term Debt to Equity was at 0.17. The current year Calculated Tax Rate is expected to grow to 16.42, whereas Operating Margin is forecasted to decline to 11.33.
At this time, it appears that Rogers Corp is an unlikely manipulator. The earnings manipulation may begin if Rogers Corp'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 Rogers Corp 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 Rogers Corp'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.
-2.76
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables0.98Focus
Asset Quality0.94Focus
Expense Coverage0.97Focus
Gross Margin Strengs0.93Focus
Accruals Factor0.97Focus
Depreciation Resistance1.1Focus
Net Sales Growth0.84Focus
Financial Leverage Condition1.13Focus

Rogers Corp 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 Rogers Corp'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
Revenues779.1 M932.9 M
Fairly Down
Increasing
Slightly volatile
Selling General and Administrative Expense99 M122.7 M
Significantly Down
Increasing
Slightly volatile
Net Cash Flow from Operations104.5 M124.4 M
Fairly Down
Increasing
Slightly volatile
Depreciation Amortization and Accretion27.1 M34.1 M
Significantly Down
Increasing
Slightly volatile
Total Assets1.3 B1.6 B
Significantly Down
Increasing
Slightly volatile
Investments19.1 M18.6 M
Fairly Up
Decreasing
Slightly volatile
Investments Current219.5 K213.9 K
Fairly Up
Decreasing
Slightly volatile
Investments Non Current21.7 M14.6 M
Way Up
Decreasing
Slightly volatile
Property Plant and Equipment Net142.3 M159.2 M
Moderately Down
Increasing
Slightly volatile
Trade and Non Trade Receivables123.6 M151.2 M
Significantly Down
Increasing
Slightly volatile
Total Liabilities390.8 M479.7 M
Significantly Down
Increasing
Slightly volatile
Current Assets481.2 M584.1 M
Significantly Down
Increasing
Slightly volatile
Assets Non Current580.8 M538.3 M
Significantly Up
Increasing
Slightly volatile
Current Liabilities176.9 M163.9 M
Significantly Up
Increasing
Slightly volatile
Liabilities Non Current310.3 M287.6 M
Significantly Up
Increasing
Slightly volatile
Total Debt237.8 M220.4 M
Significantly Up
Increasing
Slightly volatile
Debt Current4.7 M4.6 M
Fairly Up
Decreasing
Slightly volatile
Debt Non Current233.9 M216.8 M
Significantly Up
Increasing
Slightly volatile
Operating Income95.7 M119.7 M
Significantly Down
Increasing
Slightly volatile
Gross Margin34.8237.4257
Significantly Down
Increasing
Slightly volatile

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

About Rogers Corp 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.

Operating Expenses

123.12 Million

Share
Rogers Corp Operating Expenses is projected to increase significantly based on the last few years of reporting. The past year's Operating Expenses was at 149.07 Million

Rogers Corp 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 Rogers Corp. 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.
201720182019202020212022 (projected)
Revenues821.04 M879.09 M898.26 M802.58 M932.89 M779.1 M
Total Assets1.13 B1.28 B1.27 B1.26 B1.6 B1.27 B
Current Assets454.52 M485.79 M464.1 M474.18 M584.07 M481.23 M
Total Liabilities358.56 M431.02 M339.28 M243.25 M479.67 M390.85 M
Current Liabilities113.81 M107.18 M100.22 M111.51 M163.95 M176.89 M
Operating Income125.45 M112.71 M109.53 M67.23 M119.74 M95.66 M
Gross Margin38.835.3534.9936.3637.4334.82

About Rogers Corp Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Rogers Corp's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Rogers Corp using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Rogers Corp 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.
Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide. Rogers Corporation was founded in 1832 and is headquartered in Chandler, Arizona. Rogers Corp operates under Electronic Components classification in the United States and is traded on New York Stock Exchange. It employs 3675 people.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Rogers Corp without increasing your portfolio risk or giving up expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate.risk-adjusted returns of your individual positions relative to your overall portfolio.

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Additionally, take a look at Rogers Corp Piotroski F Score and Rogers Corp Altman Z Score analysis. Note that the Rogers Corp information on this page should be used as a complementary analysis to other Rogers Corp'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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.

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Is Rogers Corp'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 Rogers Corp. If investors know Rogers 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 Rogers Corp 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
-0.48
Market Capitalization
4.9 B
Quarterly Revenue Growth YOY
0.083
Return On Assets
0.0522
Return On Equity
0.0867
The market value of Rogers Corp is measured differently than its book value, which is the value of Rogers that is recorded on the company's balance sheet. Investors also form their own opinion of Rogers Corp's value that differs from its market value or its book value, called intrinsic value, which is Rogers Corp'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 Rogers Corp's market value can be influenced by many factors that don't directly affect Rogers Corp'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 Rogers Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine Rogers Corp value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Rogers Corp'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.