Vacasa Beneish M-Score Historical Data
The historical data trend for Vacasa'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.
Vacasa Beneish M-Score Chart
|
Vacasa Annual Data
|
|
Trend |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
- |
- |
- |
-2.76 |
-1.47 |
|
Vacasa Quarterly Data
|
|
Dec19 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
-2.89 |
-2.75 |
-1.71 |
-1.47 |
-0.98 |
Competitive Comparison of Vacasa's Beneish M-Score
For the Software - Application subindustry, Vacasa'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.
Vacasa's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, Vacasa's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Vacasa's Beneish M-Score falls into.
Vacasa 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 Vacasa 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 * 0.8769 | + | 0.528 * 0.9918 | + | 0.404 * 0.6299 | + | 0.892 * 0.8581 | + | 0.115 * 1.0071 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8892 | + | 4.679 * 0.463279 | - | 0.327 * 1.7501 |
| = | -0.93 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was €10.9 Mil.
Revenue was 192.714 + 162.712 + 355.195 + 281.126 = €991.7 Mil.
Gross Profit was 95.435 + 68.624 + 213.906 + 149.944 = €527.9 Mil.
Total Current Assets was €325.8 Mil.
Total Assets was €601.0 Mil.
Property, Plant and Equipment(Net PPE) was €50.2 Mil.
Depreciation, Depletion and Amortization(DDA) was €65.4 Mil.
Selling, General, & Admin. Expense(SGA) was €260.6 Mil.
Total Current Liabilities was €508.3 Mil.
Long-Term Debt & Capital Lease Obligation was €16.5 Mil.
Net Income was -78.828 + -39.979 + -213.816 + -2.881 = €-335.5 Mil.
Non Operating Income was -77.21 + 0.475 + -426.501 + 1.492 = €-501.7 Mil.
Cash Flow from Operations was 85.401 + -73.49 + -262.951 + 138.847 = €-112.2 Mil.
|
Total Receivables was €14.4 Mil.
Revenue was 239.902 + 205.941 + 416.306 + 293.589 = €1,155.7 Mil.
Gross Profit was 123.963 + 96.062 + 240.442 + 149.708 = €610.2 Mil.
Total Current Assets was €475.1 Mil.
Total Assets was €1,319.3 Mil.
Property, Plant and Equipment(Net PPE) was €60.0 Mil.
Depreciation, Depletion and Amortization(DDA) was €79.4 Mil.
Selling, General, & Admin. Expense(SGA) was €341.6 Mil.
Total Current Liabilities was €639.4 Mil.
Long-Term Debt & Capital Lease Obligation was €18.8 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) |
| = | (10.873 / 991.747) | / | (14.449 / 1155.738) |
| = | 0.010963 | / | 0.012502 |
| | = | 0.8769 |
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) |
| = | (610.175 / 1155.738) | / | (527.909 / 991.747) |
| = | 0.527953 | / | 0.532302 |
| | = | 0.9918 |
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 - (325.766 + 50.215) / 601.005) | / | (1 - (475.129 + 60.001) / 1319.268) |
| = | 0.374413 | / | 0.594374 |
| | = | 0.6299 |
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 |
| = | 991.747 | / | 1155.738 |
| | = | 0.8581 |
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)) |
| = | (79.412 / (79.412 + 60.001)) | / | (65.388 / (65.388 + 50.215)) |
| = | 0.569617 | / | 0.565625 |
| | = | 1.0071 |
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) |
| = | (260.642 / 991.747) | / | (341.607 / 1155.738) |
| = | 0.262811 | / | 0.295575 |
| | = | 0.8892 |
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) |
| = | ((16.527 + 508.264) / 601.005) | / | ((18.84 + 639.373) / 1319.268) |
| = | 0.873189 | / | 0.498923 |
| | = | 1.7501 |
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 |
| = | (-335.504 - -501.744 | - | -112.193) | / | 601.005 |
| | = | 0.463279 |
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.
Vacasa has a M-score of -0.93 signals that the company is likely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
FRA:W5Q0 has been successfully added to your