Rogers Beneish M Score

ROG -  USA Stock  

USD 271.48  1.13  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.

Rogers Beneish M Score 

 
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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 0.024492. The current year Calculated Tax Rate is expected to grow to 31.43, whereas Total Assets Per Share are forecasted to decline to 58.05.
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.
-3.24
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables
0.94
Asset Quality
0.95
Expense Coverage
0.92
Gross Margin Strengs
0.94
Accruals Factor
0.92
Depreciation Resistance
1.1
Net Sales Growth
0.87
Financial Leverage Condition
1.27

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
Revenues701 M802.6 M
Fairly Down
Increasing
Slightly volatile
Selling General and Administrative Expense99 M122.7 M
Significantly Down
Increasing
Slightly volatile
Net Cash Flow from Operations178.1 M165.1 M
Significantly Up
Increasing
Slightly volatile
Depreciation Amortization and Accretion27.1 M34.1 M
Significantly Down
Increasing
Slightly volatile
Total Assets1.1 B1.3 B
Fairly 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 Liabilities260.6 M243.2 M
Notably Up
Increasing
Stable
Current Assets416.8 M474.2 M
Fairly Down
Increasing
Slightly volatile
Assets Non Current580.8 M538.3 M
Significantly Up
Increasing
Slightly volatile
Current Liabilities99 M111.5 M
Fairly Down
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 Income66.4 M67.2 M
Fairly Down
Increasing
Slightly volatile
Gross Margin34.2136.3601
Notably Down
Increasing
Stable

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 MillionShare
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.
201620172018201920202021 (projected)
Revenues656.31 M821.04 M879.09 M898.26 M802.58 M701 M
Total Assets1.06 B1.13 B1.28 B1.27 B1.26 B1.07 B
Current Assets458.4 M454.52 M485.79 M464.1 M474.18 M416.84 M
Total Liabilities420.71 M358.56 M431.02 M339.28 M243.25 M260.64 M
Current Liabilities101.19 M113.81 M107.18 M100.22 M111.51 M98.97 M
Operating Income83.85 M125.45 M112.71 M109.53 M67.23 M66.41 M
Gross Margin38.0138.835.3534.9936.3634.21

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 3350 people.

Rogers Corp Investors Sentiment

The influence of Rogers Corp'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 Rogers. 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.

Rogers Corp Implied Volatility

    
  17.68  
Rogers Corp's implied volatility exposes the market's sentiment of Rogers Corp stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Rogers Corp's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Rogers Corp stock will not fluctuate a lot when Rogers Corp's options are near their expiration.
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 Rogers Corp 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, Rogers Corp's short interest history, or implied volatility extrapolated from Rogers Corp options trading.

Current Sentiment - ROG

Rogers Corp Investor Sentiment

Greater number of Macroaxis users are at this time bullish on Rogers Corp. What is your perspective on investing in Rogers Corp? Are you bullish or bearish?
Bullish
Bearish
98% Bullish
2% Bearish
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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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.

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When running Rogers Corp price analysis, check to measure Rogers Corp'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 Rogers Corp is operating at the current time. Most of Rogers Corp's value examination focuses on studying past and present price action to predict the probability of Rogers Corp's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Rogers Corp's price. Additionally, you may evaluate how the addition of Rogers Corp to your portfolios can decrease your overall portfolio volatility.
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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.
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.