Core Laboratories Nv Stock Beneish M Score

CLB Stock  USD 20.84  0.44  2.07%   
This module uses fundamental data of Core Laboratories to approximate the value of its Beneish M Score. Core Laboratories 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. Check out Core Laboratories Piotroski F Score and Core Laboratories Altman Z Score analysis.
  
At present, Core Laboratories' Short and Long Term Debt Total is projected to increase significantly based on the last few years of reporting. The current year's Short Term Debt is expected to grow to about 14.1 M, whereas Net Debt is forecasted to decline to about 187 M. At present, Core Laboratories' Price To Sales Ratio is projected to slightly decrease based on the last few years of reporting. The current year's PTB Ratio is expected to grow to 6.42, whereas Dividend Yield is forecasted to decline to 0.
At this time, it appears that Core Laboratories is a possible manipulator. The earnings manipulation may begin if Core Laboratories' 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 Core Laboratories 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 Core Laboratories' 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.
-2.09
Beneish M Score - Possible Manipulator
Elasticity of Receivables

0.86

Focus
Asset Quality

1.16

Focus
Expense Coverage

0.71

Focus
Gross Margin Strengs

1.08

Focus
Accruals Factor

0.71

Focus
Depreciation Resistance

0.61

Focus
Net Sales Growth

1.21

Focus
Financial Leverage Condition

1.06

Focus

Core Laboratories 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 Core Laboratories' 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
Net Receivables129.1 M123.1 M
Sufficiently Up
Pretty Stable
Total Revenue619.3 M509.8 M
Fairly Up
Slightly volatile
Total Assets550.2 M586.4 M
Notably Down
Pretty Stable
Total Current Assets225 M223.1 M
Slightly Up
Very volatile
Non Current Assets Total325.2 M363.3 M
Moderately Down
Slightly volatile
Property Plant Equipment126.1 M181 M
Way Down
Slightly volatile
Depreciation And Amortization19.2 M15.8 M
Fairly Up
Pretty Stable
Selling General Administrative34.6 M40.3 M
Fairly Down
Pretty Stable
Total Current Liabilities100.6 M88.1 M
Fairly Up
Very volatile
Non Current Liabilities Total267.2 M268.5 M
Slightly Down
Pretty Stable
Net Debt187 M200.3 M
Significantly Down
Pretty Stable
Short Term Debt14.1 M10.2 M
Significantly Up
Slightly volatile
Long Term Debt227.7 M163.1 M
Significantly Up
Very volatile
Operating Income51.9 M54.6 M
Notably Down
Slightly volatile
Total Cash From Operating Activities23.5 M24.8 M
Notably Down
Slightly volatile
Long Term Investments4.1 M4.8 M
Fairly Down
Slightly volatile
Gross Profit Margin0.20.1845
Significantly Up
Slightly volatile

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

About Core Laboratories 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.

Other Operating Expenses

493.94 Million

At present, Core Laboratories' Other Operating Expenses is projected to decrease significantly based on the last few years of reporting.

Core Laboratories 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 Core Laboratories. 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.
201920202021202220232024 (projected)
Net Receivables131.6M83.2M96.8M106.9M123.1M129.1M
Total Revenue668.2M487.3M470.3M489.7M509.8M619.3M
Total Assets774.7M568.6M580.9M578.4M586.4M550.2M
Total Current Assets221.2M165.8M189.1M211.7M223.1M225.0M
Net Debt370.7M313.2M232.6M207.0M200.3M187.0M
Short Term Debt11.8M11.4M12.3M11.7M10.2M14.1M
Long Term Debt305.3M259.4M188.6M172.4M163.1M227.7M
Operating Income96.7M55.8M45.3M41.5M54.6M51.9M
Investments(5.7M)7.9M(10.2M)(3.9M)(6.7M)(7.0M)
Gross Profit Margin0.240.260.220.190.180.16

Core Laboratories 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, Core Laboratories' sustainability indicators can be used to identify proper investment strategies using environmental, social, and governance scores that are crucial to Core Laboratories' managers, analysts, and investors.
Environmental
Governance
Social

About Core Laboratories Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Core Laboratories NV's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Core Laboratories using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Core Laboratories NV 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.

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When determining whether Core Laboratories offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Core Laboratories' financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Core Laboratories Nv Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Core Laboratories Nv Stock:
Check out Core Laboratories Piotroski F Score and Core Laboratories Altman Z Score analysis.
You can also try the Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
Is Oil & Gas Equipment & Services space 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 Core Laboratories. If investors know Core 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 Core Laboratories 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
0.316
Dividend Share
0.04
Earnings Share
0.54
Revenue Per Share
11.158
Quarterly Revenue Growth
0.072
The market value of Core Laboratories is measured differently than its book value, which is the value of Core that is recorded on the company's balance sheet. Investors also form their own opinion of Core Laboratories' value that differs from its market value or its book value, called intrinsic value, which is Core Laboratories' 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 Core Laboratories' market value can be influenced by many factors that don't directly affect Core Laboratories' 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 Core Laboratories' value and its price as these two are different measures arrived at by different means. Investors typically determine if Core Laboratories is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Core Laboratories' 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.