Agilent Beneish M Score

A
 Stock
  

USD 153.85  2.10  1.35%   

This module uses fundamental data of Agilent Technologies to approximate the value of its Beneish M Score. Agilent Technologies 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 Agilent Technologies Piotroski F Score and Agilent Technologies Altman Z Score analysis.
  
Agilent Technologies Debt Current is projected to decrease significantly based on the last few years of reporting. The past year's Debt Current was at 86.25 Million. The current year Issuance Repayment of Debt Securities is expected to grow to about 433 M, whereas Total Debt is forecasted to decline to about 2.9 B. Agilent Technologies Calculated Tax Rate is projected to increase based on the last few years of reporting. The past year's Calculated Tax Rate was at 9.93. The current year Receivables Turnover is expected to grow to 7.32, whereas Interest Coverage is forecasted to decline to 13.86.
At this time, it appears that Agilent Technologies is an unlikely manipulator. The earnings manipulation may begin if Agilent Technologies' 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 Agilent Technologies 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 Agilent Technologies' 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.
-2.67
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables0.91Focus
Asset Quality0.9Focus
Expense Coverage0.96Focus
Gross Margin Strengs0.99Focus
Accruals Factor0.96Focus
Depreciation Resistance1.01Focus
Net Sales Growth0.97Focus
Financial Leverage Condition0.99Focus

Agilent Technologies 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 Agilent Technologies' 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 Expense1.4 B1.5 B
Notably Down
Decreasing
Very volatile
Revenues7.1 B7.3 B
Fairly Down
Increasing
Stable
Trade and Non Trade Receivables1.2 B1.3 B
Fairly Down
Increasing
Slightly volatile
Property Plant and Equipment Net807.3 M850.5 M
Notably Down
Decreasing
Stable
Operating IncomeB1.2 B
Significantly Down
Increasing
Slightly volatile
Net Cash Flow from Operations1.1 B1.3 B
Fairly Down
Increasing
Slightly volatile
Liabilities Non CurrentB3.2 B
Significantly Down
Decreasing
Very volatile
Current LiabilitiesBB
Fairly Up
Decreasing
Stable
Total LiabilitiesB6.1 B
Fairly Down
Increasing
Very volatile
Investments Non Current182.1 M212.8 M
Fairly Down
Increasing
Slightly volatile
Investments Current81.4 M81.9 M
Slightly Down
Decreasing
Slightly volatile
Investments342.5 M317.4 M
Significantly Up
Increasing
Slightly volatile
Gross Margin47.8648.53
Fairly Down
Decreasing
Slightly volatile
Depreciation Amortization and Accretion270.6 M288.9 M
Notably Down
Decreasing
Stable
Debt Non Current2.8 B3.1 B
Moderately Down
Increasing
Slightly volatile
Debt Current88.5 M86.2 M
Fairly Up
Decreasing
Stable
Total Debt2.9 B3.1 B
Significantly Down
Increasing
Slightly volatile
Assets Non Current7.2 B7.9 B
Moderately Down
Increasing
Slightly volatile
Current Assets4.8 B4.4 B
Significantly Up
Decreasing
Slightly volatile
Total Assets11.9 B12.3 B
Sufficiently Down
Increasing
Slightly volatile

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

About Agilent Technologies 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 Margin

16.74

Agilent Technologies Operating Margin is projected to increase based on the last few years of reporting. The past year's Operating Margin was at 19.18

Agilent Technologies 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 Agilent Technologies. 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)
Revenues4.91 B5.16 B5.34 B6.32 B7.27 B7.06 B
Total Assets8.54 B9.45 B9.63 B10.71 B12.31 B11.92 B
Current Assets3.85 B3.19 B3.42 B3.8 B4.37 B4.84 B
Assets Non Current4.69 B6.26 B6.21 B6.91 B7.94 B7.16 B
Total Liabilities3.97 B4.7 B4.75 B5.32 B6.11 B5.95 B
Current Liabilities1.17 B2.08 B1.47 B1.71 B1.96 B1.99 B
Total Debt1.8 B2.41 B2.36 B2.73 B3.14 B2.9 B
Debt Non Current1.8 B1.79 B2.28 B2.73 B3.14 B2.83 B
Operating Income928 M941 M846 M1.35 B1.21 B1.01 B
Investments68 M102 M158 M276 M317.4 M342.46 M
Gross Margin54.6854.3353.1453.9248.5347.86

Agilent Technologies 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, Agilent Technologies' sustainability indicators can be used to identify proper investment strategies using environmental, social, and governance scores that are crucial to Agilent Technologies' managers, analysts, and investors.
Environment Score
Governance Score
Social Score

About Agilent Technologies Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Agilent Technologies's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Agilent Technologies using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Agilent Technologies 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.
Agilent Technologies, Inc. provides application focused solutions to the life sciences, diagnostics, and applied chemical markets worldwide. Agilent Technologies, Inc. was incorporated in 1999 and is headquartered in Santa Clara, California. Agilent Technologies operates under Diagnostics Research classification in the United States and is traded on New York Stock Exchange. It employs 18000 people.

Agilent Technologies Investors Sentiment

The influence of Agilent Technologies' 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 Agilent. 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.
Investor biases related to Agilent Technologies' public news can be used to forecast risks associated with investment in Agilent. The trend in average sentiment can be used to explain how an investor holding Agilent can time the market purely based on public headlines and social activities around Agilent Technologies. Please note that most equiteis that are difficult to arbitrage are affected by market sentiment the most.
Agilent Technologies' market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Agilent Technologies' and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Agilent Technologies' news discussions. The higher the estimated score, the more favorable is the investor's outlook on Agilent Technologies.
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 Agilent Technologies 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, Agilent Technologies' short interest history, or implied volatility extrapolated from Agilent Technologies options trading.

Pair Trading with Agilent Technologies

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 Agilent Technologies 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 Agilent Technologies will appreciate offsetting losses from the drop in the long position's value.

Moving together with Agilent Technologies

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Moving against Agilent Technologies

-0.54EWEdwards Lifesciences Corp Sell-off TrendPairCorr
The ability to find closely correlated positions to Agilent Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Agilent Technologies when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Agilent Technologies - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Agilent Technologies to buy it.
The correlation of Agilent Technologies is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Agilent Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Agilent Technologies moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Agilent Technologies can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
Please continue to Agilent Technologies Piotroski F Score and Agilent Technologies Altman Z Score analysis. Note that the Agilent Technologies information on this page should be used as a complementary analysis to other Agilent Technologies' 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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When running Agilent Technologies price analysis, check to measure Agilent Technologies' 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 Agilent Technologies is operating at the current time. Most of Agilent Technologies' value examination focuses on studying past and present price action to predict the probability of Agilent Technologies' future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Agilent Technologies' price. Additionally, you may evaluate how the addition of Agilent Technologies to your portfolios can decrease your overall portfolio volatility.
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Is Agilent Technologies' 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 Agilent Technologies. If investors know Agilent 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 Agilent Technologies 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
(0.15) 
Market Capitalization
46.1 B
Quarterly Revenue Growth YOY
0.114
Return On Assets
0.0953
Return On Equity
0.2349
The market value of Agilent Technologies is measured differently than its book value, which is the value of Agilent that is recorded on the company's balance sheet. Investors also form their own opinion of Agilent Technologies' value that differs from its market value or its book value, called intrinsic value, which is Agilent Technologies' 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 Agilent Technologies' market value can be influenced by many factors that don't directly affect Agilent Technologies' 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 Agilent Technologies' value and its price as these two are different measures arrived at by different means. Investors typically determine Agilent Technologies value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Agilent Technologies' 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.