Floor & Decor Holdings Beneish M-Score Historical Data
The historical data trend for Floor & Decor Holdings'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.
Floor & Decor Holdings Beneish M-Score Chart
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Floor & Decor Holdings Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.76 |
-3.11 |
-1.94 |
-2.13 |
-2.87 |
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Floor & Decor Holdings Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
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Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
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-2.13 |
-2.65 |
-2.87 |
-3.05 |
-2.87 |
Competitive Comparison of Floor & Decor Holdings's Beneish M-Score
For the Home Improvement Retail subindustry, Floor & Decor Holdings'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.
Floor & Decor Holdings's Beneish M-Score Distribution in the Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Floor & Decor Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Floor & Decor Holdings's Beneish M-Score falls into.
Floor & Decor Holdings 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 Floor & Decor Holdings 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 * 1.2059 | + | 0.528 * 0.9623 | + | 0.404 * 0.9404 | + | 0.892 * 1.035 | + | 0.115 * 0.9133 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1154 | + | 4.679 * -0.119593 | - | 0.327 * 0.9364 |
| = | -2.87 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $127 Mil.
Revenue was 1048.121 + 1107.812 + 1135.899 + 1122.052 = $4,414 Mil.
Gross Profit was 442.142 + 467.455 + 479.633 + 469.118 = $1,858 Mil.
Total Current Assets was $1,317 Mil.
Total Assets was $4,663 Mil.
Property, Plant and Equipment(Net PPE) was $2,913 Mil.
Depreciation, Depletion and Amortization(DDA) was $202 Mil.
Selling, General, & Admin. Expense(SGA) was $1,492 Mil.
Total Current Liabilities was $1,152 Mil.
Long-Term Debt & Capital Lease Obligation was $1,497 Mil.
Net Income was 37.081 + 65.923 + 71.452 + 71.524 = $246 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 104.614 + 222.33 + 226.365 + 250.28 = $804 Mil.
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Total Receivables was $102 Mil.
Revenue was 1048.069 + 1097.824 + 1089.846 + 1028.734 = $4,264 Mil.
Gross Profit was 435.901 + 447.475 + 436.282 + 408.058 = $1,728 Mil.
Total Current Assets was $1,457 Mil.
Total Assets was $4,351 Mil.
Property, Plant and Equipment(Net PPE) was $2,464 Mil.
Depreciation, Depletion and Amortization(DDA) was $155 Mil.
Selling, General, & Admin. Expense(SGA) was $1,292 Mil.
Total Current Liabilities was $1,007 Mil.
Long-Term Debt & Capital Lease Obligation was $1,633 Mil.
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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) |
| = | (127.383 / 4413.884) | / | (102.057 / 4264.473) |
| = | 0.02886 | / | 0.023932 |
| | = | 1.2059 |
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) |
| = | (1727.716 / 4264.473) | / | (1858.348 / 4413.884) |
| = | 0.405142 | / | 0.421023 |
| | = | 0.9623 |
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 - (1316.64 + 2912.542) / 4662.55) | / | (1 - (1457.485 + 2463.692) / 4351.242) |
| = | 0.092947 | / | 0.098837 |
| | = | 0.9404 |
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 |
| = | 4413.884 | / | 4264.473 |
| | = | 1.035 |
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)) |
| = | (155.023 / (155.023 + 2463.692)) | / | (201.869 / (201.869 + 2912.542)) |
| = | 0.059198 | / | 0.064818 |
| | = | 0.9133 |
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) |
| = | (1491.938 / 4413.884) | / | (1292.314 / 4264.473) |
| = | 0.33801 | / | 0.303042 |
| | = | 1.1154 |
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) |
| = | ((1496.693 + 1152.013) / 4662.55) | / | ((1633.058 + 1006.758) / 4351.242) |
| = | 0.568081 | / | 0.606681 |
| | = | 0.9364 |
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 |
| = | (245.98 - 0 | - | 803.589) | / | 4662.55 |
| | = | -0.119593 |
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.
Floor & Decor Holdings has a M-score of -2.87 suggests that the company is unlikely to be a manipulator.
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