Hyster Beneish M Score

HY
 Stock
  

USD 30.15  0.78  2.52%   

This module uses fundamental data of Hyster Yale to approximate the value of its Beneish M Score. Hyster Yale 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 check Hyster Yale Piotroski F Score and Hyster Yale Altman Z Score analysis.
  
Hyster Yale Total Debt is fairly stable at the moment as compared to the past year. Hyster Yale reported Total Debt of 518.5 Million in 2021. Debt Current is likely to rise to about 277.1 M in 2022, whereas Debt Non Current is likely to drop slightly above 210.4 M in 2022. Hyster Yale Net Current Assets as percentage of Total Assets are fairly stable at the moment as compared to the past year. Hyster Yale reported Net Current Assets as percentage of Total Assets of 12.46 in 2021. Asset Turnover is likely to rise to 2.02 in 2022, whereas Accrued Expenses Turnover is likely to drop 49.53 in 2022.
At this time, Hyster Yale's M Score is inconclusive. The earnings manipulation may begin if Hyster Yale'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 Hyster Yale 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 Hyster Yale'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.
-2.22
Beneish M Score - Inconclusive
Elasticity of Receivables1.14Focus
Asset Quality0.71Focus
Expense Coverage1.13Focus
Gross Margin Strengs1.31Focus
Accruals Factor1.13Focus
Depreciation Resistance0.96Focus
Net Sales Growth0.9Focus
Financial Leverage Condition1.29Focus

Hyster Yale 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 Hyster Yale'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 Expense456.4 M450.1 M
Fairly Up
Increasing
Slightly volatile
Revenues2.8 B3.1 B
Moderately Down
Increasing
Slightly volatile
Trade and Non Trade Receivables470.5 M457.4 M
Fairly Up
Increasing
Slightly volatile
Property Plant and Equipment Net311.7 M330.5 M
Notably Down
Increasing
Slightly volatile
Operating Income(156.3 M)(152.3 M)
Fairly Down
Decreasing
Slightly volatile
Net Cash Flow from Operations(260.2 M)(253.5 M)
Fairly Down
Decreasing
Slightly volatile
Liabilities Non Current419 M482.6 M
Fairly Down
Increasing
Slightly volatile
Current Liabilities1.2 B1.1 B
Significantly Up
Increasing
Slightly volatile
Total Liabilities1.7 B1.6 B
Significantly Up
Increasing
Slightly volatile
Investments Non Current72.5 M71.7 M
Fairly Up
Increasing
Slightly volatile
Investments72.5 M71.7 M
Fairly Up
Increasing
Slightly volatile
Gross Margin15.4711.8152
Significantly Up
Decreasing
Stable
Depreciation Amortization and Accretion45.7 M46.2 M
Fairly Down
Increasing
Slightly volatile
Debt Non Current210.4 M261.7 M
Significantly Down
Increasing
Slightly volatile
Debt Current277.1 M256.8 M
Significantly Up
Increasing
Slightly volatile
Total Debt559.4 M518.5 M
Significantly Up
Increasing
Slightly volatile
Assets Non Current583.6 M620.1 M
Notably Down
Increasing
Slightly volatile
Current Assets1.1 B1.4 B
Fairly Down
Increasing
Slightly volatile
Total Assets1.6 BB
Fairly Down
Increasing
Slightly volatile

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

About Hyster Yale 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.

Deferred Revenue

45.21 Million

Hyster Yale Deferred Revenue is fairly stable at the moment as compared to the past year. Hyster Yale reported Deferred Revenue of 49.7 Million in 2021

Hyster Yale 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 Hyster Yale. 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)
Revenues2.89 B3.17 B3.29 B2.81 B3.08 B2.76 B
Total Assets1.65 B1.74 B1.85 B1.86 B1.97 B1.65 B
Current Assets1.13 B1.13 B1.16 B1.13 B1.35 B1.13 B
Assets Non Current516.5 M610.5 M691.4 M729.8 M620.1 M583.63 M
Total Liabilities1.08 B1.21 B1.3 B1.24 B1.61 B1.74 B
Current Liabilities692.4 M776.2 M817 M755.9 M1.1 B1.19 B
Total Debt290.7 M301.5 M287 M289.2 M518.5 M559.43 M
Debt Current74.5 M91.4 M82.3 M83.1 M256.8 M277.07 M
Debt Non Current216.2 M210.1 M204.7 M206.1 M261.7 M210.41 M
Operating Income76 M38.8 M53.9 M49.9 M(152.3 M)(156.31 M)
Investments81.9 M75.6 M80 M80.2 M71.7 M72.46 M
Gross Margin17.4215.6616.4616.5511.8215.47

About Hyster Yale Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Hyster Yale Materials's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Hyster Yale using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Hyster Yale Materials 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.
Hyster-Yale Materials Handling, Inc., through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide. Hyster-Yale Materials Handling, Inc. was incorporated in 1991 and is headquartered in Cleveland, Ohio. Hyster Yale operates under Farm Heavy Construction Machinery classification in the United States and is traded on New York Stock Exchange. It employs 8100 people.

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Please check Hyster Yale Piotroski F Score and Hyster Yale Altman Z Score analysis. You can also try Insider Screener module to find insiders across different sectors to evaluate their impact on performance.

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Is Hyster Yale'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 Hyster Yale. If investors know Hyster 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 Hyster Yale 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
510.7 M
Quarterly Revenue Growth YOY
0.12
Return On Assets
(0.0378) 
Return On Equity
(0.60) 
The market value of Hyster Yale Materials is measured differently than its book value, which is the value of Hyster that is recorded on the company's balance sheet. Investors also form their own opinion of Hyster Yale's value that differs from its market value or its book value, called intrinsic value, which is Hyster Yale'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 Hyster Yale's market value can be influenced by many factors that don't directly affect Hyster Yale'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 Hyster Yale's value and its price as these two are different measures arrived at by different means. Investors typically determine Hyster Yale value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Hyster Yale'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.