EFR (Eaton Vance Senior Floating Rate Trust) Beneish M-Score : -1.94 (As of Jul. 02, 2025)

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What is Eaton Vance Senior Floating Rate Trust Beneish M-Score?

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -1.94 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Eaton Vance Senior Floating Rate Trust's Beneish M-Score or its related term are showing as below:

EFR' s Beneish M-Score Range Over the Past 10 Years
Min: -1.94 Med: -1.94 Max: -1.94
Current: -1.94

During the past 8 years, the highest Beneish M-Score of Eaton Vance Senior Floating Rate Trust was -1.94. The lowest was -1.94. And the median was -1.94.

Eaton Vance Senior Floating Rate Trust Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Eaton Vance Senior Floating Rate Trust for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.4732

0.528 * 1

0.404 * 1

0.892 * 0.9393

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.8522

4.679 * 0.038603

0.327 * 1.1488

-1.94

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Oct24) TTM:

Last Year (Oct23) TTM:

Total Receivables was $9.36 Mil.
Revenue was $52.28 Mil.
Gross Profit was $52.28 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $616.76 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.60 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $133.00 Mil.
Net Income was $51.67 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $27.86 Mil.

Total Receivables was $6.77 Mil.
Revenue was $55.66 Mil.
Gross Profit was $55.66 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $586.02 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.75 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $110.00 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(9.363 / 52.278)	/	(6.766 / 55.656)
	=	0.1791	/	0.121568
	=	1.4732

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(55.656 / 55.656)	/	(52.278 / 52.278)
	=	1	/	1
	=	1

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (0 + 0) / 616.761)	/	(1 - (0 + 0) / 586.017)
	=	1	/	1
	=	1

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	52.278	/	55.656
	=	0.9393

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(0 / (0 + 0))	/	(0 / (0 + 0))
	=		/
	=	1

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(0.602 / 52.278)	/	(0.752 / 55.656)
	=	0.011515	/	0.013512
	=	0.8522

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((133 + 0) / 616.761)	/	((110 + 0) / 586.017)
	=	0.215643	/	0.187708
	=	1.1488

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(51.671 - 0	-	27.862)	/	616.761
	=	0.038603

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Eaton Vance Senior Floating Rate Trust has a M-score of -1.94 suggests that the company is unlikely to be a manipulator.

Eaton Vance Senior Floating Rate Trust Beneish M-Score Related Terms

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Eaton Vance Senior Floating Rate Trust Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Eaton Vance Senior Floating Rate Trust (NYSE:EFR) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

One Post Office Square, Boston, MA, USA, 02109

Website

https://www.eatonvance.com

Eaton Vance Senior Floating Rate Trust is a diversified, closed-end management investment company. Its primary investment objective is to provide a high level of current income. As a secondary objective, the fund intends to seek capital preservation. Its portfolio of investments consists of Software, Health Care Providers & Services, Machinery, Chemicals, Professional Services, IT Services, Hotels, Restaurants & Leisure, Capital Markets, Specialty Retail, Commercial Services & Supplies, and other areas. The trust invests in below investment grade floating rate loans, which are considered speculative because of the credit risk of their issuers.

Executives

Bank Of America Corp /de/	10 percent owner	BANK OF AMERICA CORPORATE CENTER, 100 N TRYON ST, CHARLOTTE NC 28255
Kenneth A Topping	officer: President	TWO INTERNATIONAL PLACE, BOSTON MA 02110
Anchal Pachnanda	officer: Officer	TWO INTERNATIONAL PLACE, BOSTON MA 02110
Alan C. Bowser	other: Trustee	TWO INTERNATIONAL PLACE, BOSTON MA 02110
Nicholas Dilorenzo	officer: Secretary	TWO INTERNATIONAL PLACE, BOSTON MA 02110
Keith Quinton	other: Trustee	TWO INTERNATIONAL PLACE, BOSTON MA 02110
Sarah Anne Choi	other: Portfolio Manager	TWO INTERNATIONAL PLACE, BOSTON MA 02110
Nancy A Wiser	other: Trustee	WELLS FARGO FUNDS MANAGEMENT, 200 BERKELEY STREET, 19TH FLOOR, BOSTON MA 02116
Jill Damon	officer: Secretary	TWO INTERNATIONAL PLACE, BOSTON MA 02110
Kimberly M Roessiger	officer: Secretary	TWO INTERNATIONAL PLACE, BOSTON MA 02110
Deidre E Walsh	officer: Vice President	TWO INTERNATIONAL PLACE, BOSTON MA 02110
Eric Stein	officer: President	TWO INTERNATIONAL PLACE, BOSTON MA 02110
Group Ag Ubs	10 percent owner	BAHNHOFSTRASSE 45, ZURICH V8 CH-8001
Craig P Russ	other: Vice President
Catherine Mcdermott	other: Portfolio Manager	255 STATE STREET, BOSTON MA 02109