Civitas Solutions Beneish M-Score Historical Data
The historical data trend for Civitas Solutions's Beneish M-Score can be seen below:
* 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.
Civitas Solutions Beneish M-Score Chart
|
Civitas Solutions Annual Data
|
|
Trend |
Sep11 |
Sep12 |
Sep13 |
Sep14 |
Sep15 |
Sep16 |
Sep17 |
Sep18 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
- |
-2.69 |
-2.85 |
-2.59 |
-2.77 |
|
Civitas Solutions Quarterly Data
|
|
Mar14 |
Jun14 |
Sep14 |
Dec14 |
Mar15 |
Jun15 |
Sep15 |
Dec15 |
Mar16 |
Jun16 |
Sep16 |
Dec16 |
Mar17 |
Jun17 |
Sep17 |
Dec17 |
Mar18 |
Jun18 |
Sep18 |
Dec18 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.50 |
-2.63 |
-2.60 |
-2.77 |
-2.88 |
Competitive Comparison of Civitas Solutions's Beneish M-Score
For the Medical Care Facilities subindustry, Civitas Solutions's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Civitas Solutions's Beneish M-Score Distribution in the Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Civitas Solutions's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Civitas Solutions's Beneish M-Score falls into.
Civitas Solutions 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 Civitas Solutions for today is based on a combination of the following eight different indices:
| M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
| = | -4.84 | + | 0.92 * 0.9509 | + | 0.528 * 1.0387 | + | 0.404 * 0.9699 | + | 0.892 * 1.0681 | + | 0.115 * 0.9137 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9317 | + | 4.679 * -0.089672 | - | 0.327 * 1.0094 |
| = | -2.88 |
* 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 (Dec18) TTM: | Last Year (Dec17) TTM: |
Total Receivables was $173 Mil.
Revenue was 406.631 + 409.485 + 404.498 + 392.801 = $1,613 Mil.
Gross Profit was 84.279 + 77.68 + 88.564 + 76.189 = $327 Mil.
Total Current Assets was $200 Mil.
Total Assets was $1,100 Mil.
Property, Plant and Equipment(Net PPE) was $196 Mil.
Depreciation, Depletion and Amortization(DDA) was $96 Mil.
Selling, General, & Admin. Expense(SGA) was $168 Mil.
Total Current Liabilities was $144 Mil.
Long-Term Debt & Capital Lease Obligation was $698 Mil.
Net Income was 6.387 + -1.605 + 9.585 + -2.488 = $12 Mil.
Non Operating Income was -1.347 + -0.4 + -0.083 + -1.259 = $-3 Mil.
Cash Flow from Operations was 15.726 + 39.408 + 41.619 + 16.814 = $114 Mil.
|
Total Receivables was $171 Mil.
Revenue was 395.418 + 380.372 + 372.345 + 362.399 = $1,511 Mil.
Gross Profit was 79.161 + 81.836 + 79.847 + 76.881 = $318 Mil.
Total Current Assets was $198 Mil.
Total Assets was $1,125 Mil.
Property, Plant and Equipment(Net PPE) was $185 Mil.
Depreciation, Depletion and Amortization(DDA) was $79 Mil.
Selling, General, & Admin. Expense(SGA) was $169 Mil.
Total Current Liabilities was $157 Mil.
Long-Term Debt & Capital Lease Obligation was $696 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) |
| = | (173.38 / 1613.415) | / | (170.699 / 1510.534) |
| = | 0.107462 | / | 0.113006 |
| | = | 0.9509 |
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) |
| = | (317.725 / 1510.534) | / | (326.712 / 1613.415) |
| = | 0.21034 | / | 0.202497 |
| | = | 1.0387 |
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 - (199.658 + 196.011) / 1099.547) | / | (1 - (197.804 + 184.826) / 1125.461) |
| = | 0.640153 | / | 0.660024 |
| | = | 0.9699 |
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 |
| = | 1613.415 | / | 1510.534 |
| | = | 1.0681 |
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)) |
| = | (79.355 / (79.355 + 184.826)) | / | (95.999 / (95.999 + 196.011)) |
| = | 0.300381 | / | 0.328752 |
| | = | 0.9137 |
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) |
| = | (168.301 / 1613.415) | / | (169.118 / 1510.534) |
| = | 0.104314 | / | 0.111959 |
| | = | 0.9317 |
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) |
| = | ((697.533 + 144.389) / 1099.547) | / | ((696.269 + 157.478) / 1125.461) |
| = | 0.765699 | / | 0.758575 |
| | = | 1.0094 |
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 |
| = | (11.879 - -3.089 | - | 113.567) | / | 1099.547 |
| | = | -0.089672 |
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.
Civitas Solutions has a M-score of -2.88 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
CIVI has been successfully added to your