BENEISH M-SCORE CALCULATOR
- Input the twelve (12) required financial statement data items for any two consecutive years. The M-Score will be computed as of the current year. The data need not be based on annual data: you can use latest (or trailing) twelve-months if you are willing to accordingly aggregate data from the income and cash flow statements.
- The data can be input using any currency or units (thousands, millions) so long as currency and units are kept the same for all input numbers.
- The calculator computes the M-Score, the odds ratio that the firm is a manipulator, and provides an assessment based on whether the model's variables are out of line relative to sample averages. The M-Score is calculated as in Beneish, Lee Nichols 2013, Financial Analysts Journal.
- The use of the calculator is illustrated with data from Sunbeam and Tesla; the input and output are reproduced in the Sunbeam example. The spreadsheet that you can complete is in the Telsa file.
- Using the example in the Tesla spreadsheet, you can copy the 24 numeric values and paste them into any field in the table below.