S4 Capital Beneish M-Score Historical Data
The historical data trend for S4 Capital'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.
S4 Capital Beneish M-Score Chart
|
S4 Capital Annual Data
|
|
Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
- |
-2.32 |
-2.06 |
-2.81 |
-2.55 |
|
S4 Capital Semi-Annual Data
|
|
Jun17 |
Jun18 |
Jun19 |
Dec19 |
Jun20 |
Dec20 |
Jun21 |
Dec21 |
Jun22 |
Dec22 |
Jun23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
-2.06 |
- |
-2.81 |
- |
-2.55 |
Competitive Comparison of S4 Capital's Beneish M-Score
For the Advertising Agencies subindustry, S4 Capital'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.
S4 Capital's Beneish M-Score Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, S4 Capital's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where S4 Capital's Beneish M-Score falls into.
S4 Capital 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 S4 Capital 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 * 0.9789 | + | 0.528 * 0.9658 | + | 0.404 * 1.0407 | + | 0.892 * 0.9458 | + | 0.115 * 0.9235 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1968 | + | 4.679 * 0.002733 | - | 0.327 * 0.9012 |
| = | -2.55 |
* 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 £394 Mil.
Revenue was £1,012 Mil.
Gross Profit was £873 Mil.
Total Current Assets was £558 Mil.
Total Assets was £1,720 Mil.
Property, Plant and Equipment(Net PPE) was £68 Mil.
Depreciation, Depletion and Amortization(DDA) was £78 Mil.
Selling, General, & Admin. Expense(SGA) was £43 Mil.
Total Current Liabilities was £455 Mil.
Long-Term Debt & Capital Lease Obligation was £357 Mil.
Net Income was £-6 Mil.
Gross Profit was £0 Mil.
Cash Flow from Operations was £-11 Mil.
|
Total Receivables was £426 Mil.
Revenue was £1,070 Mil.
Gross Profit was £892 Mil.
Total Current Assets was £666 Mil.
Total Assets was £1,933 Mil.
Property, Plant and Equipment(Net PPE) was £85 Mil.
Depreciation, Depletion and Amortization(DDA) was £83 Mil.
Selling, General, & Admin. Expense(SGA) was £38 Mil.
Total Current Liabilities was £643 Mil.
Long-Term Debt & Capital Lease Obligation was £369 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) |
| = | (394.4 / 1011.5) | / | (426 / 1069.5) |
| = | 0.389916 | / | 0.398317 |
| | = | 0.9789 |
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) |
| = | (891.7 / 1069.5) | / | (873.2 / 1011.5) |
| = | 0.833754 | / | 0.863272 |
| | = | 0.9658 |
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 - (558.1 + 67.7) / 1719.9) | / | (1 - (666 + 85.4) / 1933) |
| = | 0.636142 | / | 0.611278 |
| | = | 1.0407 |
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 |
| = | 1011.5 | / | 1069.5 |
| | = | 0.9458 |
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)) |
| = | (83.4 / (83.4 + 85.4)) | / | (77.9 / (77.9 + 67.7)) |
| = | 0.494076 | / | 0.535027 |
| | = | 0.9235 |
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) |
| = | (42.9 / 1011.5) | / | (37.9 / 1069.5) |
| = | 0.042412 | / | 0.035437 |
| | = | 1.1968 |
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) |
| = | ((356.7 + 454.6) / 1719.9) | / | ((369.3 + 642.5) / 1933) |
| = | 0.471713 | / | 0.523435 |
| | = | 0.9012 |
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 |
| = | (-6 - 0 | - | -10.7) | / | 1719.9 |
| | = | 0.002733 |
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.
S4 Capital has a M-score of -2.55 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
LSE:SFOR has been successfully added to your