This module uses fundamental data of First Industrial to approximate the value of its Beneish M Score. First Industrial 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 First Industrial Piotroski F Score and First Industrial Altman Z Score analysis.
First
Beneish M Score
Market Cap
Enterprise Value
Price To Sales Ratio
Dividend Yield
Ptb Ratio
Days Sales Outstanding
Book Value Per Share
Free Cash Flow Yield
Operating Cash Flow Per Share
Stock Based Compensation To Revenue
Capex To Depreciation
Pb Ratio
Ev To Sales
Free Cash Flow Per Share
Roic
Inventory Turnover
Net Income Per Share
Days Of Inventory On Hand
Payables Turnover
Sales General And Administrative To Revenue
Capex To Revenue
Cash Per Share
Pocfratio
Interest Coverage
Payout Ratio
Capex To Operating Cash Flow
Pfcf Ratio
Days Payables Outstanding
Income Quality
Roe
Ev To Operating Cash Flow
Pe Ratio
Return On Tangible Assets
Ev To Free Cash Flow
Earnings Yield
Intangibles To Total Assets
Net Debt To E B I T D A
Current Ratio
Tangible Book Value Per Share
Receivables Turnover
Graham Number
Shareholders Equity Per Share
Debt To Equity
Capex Per Share
Graham Net Net
Revenue Per Share
Interest Debt Per Share
Debt To Assets
Enterprise Value Over E B I T D A
Short Term Coverage Ratios
Price Earnings Ratio
Operating Cycle
Price Book Value Ratio
Price Earnings To Growth Ratio
Days Of Payables Outstanding
Dividend Payout Ratio
Price To Operating Cash Flows Ratio
Price To Free Cash Flows Ratio
Pretax Profit Margin
Ebt Per Ebit
Operating Profit Margin
Effective Tax Rate
Company Equity Multiplier
Long Term Debt To Capitalization
Total Debt To Capitalization
Return On Capital Employed
Debt Equity Ratio
Ebit Per Revenue
Quick Ratio
Dividend Paid And Capex Coverage Ratio
Net Income Per E B T
Cash Ratio
Cash Conversion Cycle
Operating Cash Flow Sales Ratio
Days Of Inventory Outstanding
Days Of Sales Outstanding
Free Cash Flow Operating Cash Flow Ratio
Cash Flow Coverage Ratios
Price To Book Ratio
Fixed Asset Turnover
Capital Expenditure Coverage Ratio
Price Cash Flow Ratio
Enterprise Value Multiple
Debt Ratio
Cash Flow To Debt Ratio
Price Sales Ratio
Return On Assets
Asset Turnover
Net Profit Margin
Gross Profit Margin
Price Fair Value
Return On Equity
Sale Purchase Of Stock
Change In Cash
Free Cash Flow
Change In Working Capital
Begin Period Cash Flow
Other Cashflows From Financing Activities
Depreciation
Other Non Cash Items
Dividends Paid
Capital Expenditures
Total Cash From Operating Activities
Change To Account Receivables
Net Income
Total Cash From Financing Activities
End Period Cash Flow
Change To Inventory
Total Cashflows From Investing Activities
Investments
Net Borrowings
Exchange Rate Changes
Cash And Cash Equivalents Changes
Cash Flows Other Operating
Other Cashflows From Investing Activities
Change To Netincome
Change To Liabilities
Stock Based Compensation
Change To Operating Activities
Issuance Of Capital Stock
Total Assets
Short Long Term Debt Total
Total Stockholder Equity
Property Plant And Equipment Net
Net Debt
Retained Earnings
Non Currrent Assets Other
Other Assets
Common Stock Shares Outstanding
Liabilities And Stockholders Equity
Non Current Liabilities Total
Other Stockholder Equity
Total Liab
Property Plant And Equipment Gross
Other Current Liab
Total Current Liabilities
Accounts Payable
Cash
Non Current Assets Total
Cash And Short Term Investments
Net Receivables
Common Stock Total Equity
Total Current Assets
Accumulated Other Comprehensive Income
Common Stock
Other Liab
Long Term Debt
Short Term Investments
Other Current Assets
Inventory
Intangible Assets
Net Tangible Assets
Noncontrolling Interest In Consolidated Entity
Retained Earnings Total Equity
Long Term Debt Total
Capital Surpluse
Long Term Investments
Non Current Liabilities Other
Short Term Debt
Property Plant Equipment
Total Permanent Equity
Additional Paid In Capital
Deferred Long Term Liab
Short Long Term Debt
Cash And Equivalents
Net Invested Capital
Net Working Capital
Capital Stock
Capital Lease Obligations
Current Deferred Revenue
Depreciation And Amortization
Interest Expense
Selling General Administrative
Total Revenue
Gross Profit
Other Operating Expenses
Operating Income
Ebit
Ebitda
Total Operating Expenses
Income Tax Expense
Income Before Tax
Total Other Income Expense Net
Cost Of Revenue
Net Income Applicable To Common Shares
Minority Interest
Extraordinary Items
Discontinued Operations
Preferred Stock And Other Adjustments
Net Income From Continuing Ops
Non Recurring
Non Operating Income Net Other
Research Development
Tax Provision
Interest Income
Net Interest Income
Reconciled Depreciation
Probability Of Bankruptcy
At this time, First Industrial's Debt To Equity is relatively stable compared to the past year. As of 11/30/2024, Interest Debt Per Share is likely to grow to 26.65, while Net Debt is likely to drop slightly above 1.5 B. At this time, First Industrial's ROIC is relatively stable compared to the past year. As of 11/30/2024, Sales General And Administrative To Revenue is likely to grow to 0.06, while PTB Ratio is likely to drop 1.37.
At this time, it appears that First Industrial Realty is a possible manipulator. The earnings manipulation may begin if First Industrial'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 First Industrial 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 First Industrial'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.
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 First Industrial'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.
First Industrial Realty 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 First Industrial's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards First Industrial in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find First Industrial's degree of accounting gimmicks and manipulations.
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.
Current Deferred Revenue
112.07 Million
At this time, First Industrial's Current Deferred Revenue is relatively stable compared to the past year.
First Industrial 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 First Industrial. 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.
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, First Industrial's sustainability indicators can be used to identify proper investment strategies using environmental, social, and governance scores that are crucial to First Industrial's managers, analysts, and investors.
Environmental
Governance
Social
About First Industrial Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze First Industrial Realty's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of First Industrial using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of First Industrial Realty 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.
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 First Industrial 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 First Industrial will appreciate offsetting losses from the drop in the long position's value.
The ability to find closely correlated positions to First Industrial could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace First Industrial 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 First Industrial - 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 First Industrial Realty to buy it.
The correlation of First Industrial is a statistical measure of how it moves in relation to other instruments. 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 First Industrial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Industrial Realty 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 First Industrial 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.
When running First Industrial's price analysis, check to measure First Industrial's 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 First Industrial is operating at the current time. Most of First Industrial's value examination focuses on studying past and present price action to predict the probability of First Industrial's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move First Industrial's price. Additionally, you may evaluate how the addition of First Industrial to your portfolios can decrease your overall portfolio volatility.