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American Woodmark (American Woodmark) Beneish M-Score : -3.12 (As of Apr. 28, 2024)


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What is American Woodmark Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

Good Sign:

Beneish M-Score -3.12 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for American Woodmark's Beneish M-Score or its related term are showing as below:

AMWD' s Beneish M-Score Range Over the Past 10 Years
Min: -3.31   Med: -2.6   Max: 0.18
Current: -3.12

During the past 13 years, the highest Beneish M-Score of American Woodmark was 0.18. The lowest was -3.31. And the median was -2.60.


American Woodmark Beneish M-Score Historical Data

The historical data trend for American Woodmark'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.

* Premium members only.

American Woodmark Beneish M-Score Chart

American Woodmark Annual Data
Trend Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 Apr20 Apr21 Apr22 Apr23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.95 -2.87 -2.33 -2.09 -3.10

American Woodmark Quarterly Data
Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.97 -3.10 -3.25 -3.31 -3.12

Competitive Comparison of American Woodmark's Beneish M-Score

For the Furnishings, Fixtures & Appliances subindustry, American Woodmark'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.


American Woodmark's Beneish M-Score Distribution in the Furnishings, Fixtures & Appliances Industry

For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, American Woodmark's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where American Woodmark's Beneish M-Score falls into.



American Woodmark 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 American Woodmark 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 * 1.0686+0.528 * 0.7609+0.404 * 0.9225+0.892 * 0.8987+0.115 * 1.2623
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1849+4.679 * -0.100206-0.327 * 0.9631
=-3.12

* 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 (Jan24) TTM:Last Year (Jan23) TTM:
Total Receivables was $113 Mil.
Revenue was 422.102 + 473.867 + 498.255 + 481.095 = $1,875 Mil.
Gross Profit was 80.94 + 103.159 + 109.609 + 96.703 = $390 Mil.
Total Current Assets was $402 Mil.
Total Assets was $1,574 Mil.
Property, Plant and Equipment(Net PPE) was $382 Mil.
Depreciation, Depletion and Amortization(DDA) was $89 Mil.
Selling, General, & Admin. Expense(SGA) was $227 Mil.
Total Current Liabilities was $188 Mil.
Long-Term Debt & Capital Lease Obligation was $482 Mil.
Net Income was 21.227 + 30.341 + 37.85 + 30.141 = $120 Mil.
Non Operating Income was 2.498 + -3.024 + 1.247 + 1.079 = $2 Mil.
Cash Flow from Operations was 43.711 + 57.001 + 86.721 + 88.034 = $275 Mil.
Total Receivables was $118 Mil.
Revenue was 480.713 + 561.499 + 542.893 + 501.706 = $2,087 Mil.
Gross Profit was 75.34 + 98.734 + 86.747 + 69.729 = $331 Mil.
Total Current Assets was $411 Mil.
Total Assets was $1,564 Mil.
Property, Plant and Equipment(Net PPE) was $302 Mil.
Depreciation, Depletion and Amortization(DDA) was $95 Mil.
Selling, General, & Admin. Expense(SGA) was $214 Mil.
Total Current Liabilities was $168 Mil.
Long-Term Debt & Capital Lease Obligation was $524 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)
=(113.073 / 1875.319) / (117.742 / 2086.811)
=0.060295 / 0.056422
=1.0686

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)
=(330.55 / 2086.811) / (390.411 / 1875.319)
=0.1584 / 0.208184
=0.7609

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 - (402.13 + 382.242) / 1573.837) / (1 - (411.458 + 302.275) / 1564.373)
=0.501618 / 0.543758
=0.9225

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
=1875.319 / 2086.811
=0.8987

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))
=(94.731 / (94.731 + 302.275)) / (89.101 / (89.101 + 382.242))
=0.238614 / 0.189036
=1.2623

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)
=(227.473 / 1875.319) / (213.619 / 2086.811)
=0.121298 / 0.102366
=1.1849

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)
=((482.075 + 188.281) / 1573.837) / ((523.736 + 168.12) / 1564.373)
=0.425937 / 0.442258
=0.9631

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
=(119.559 - 1.8 - 275.467) / 1573.837
=-0.100206

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.

American Woodmark has a M-score of -3.12 suggests that the company is unlikely to be a manipulator.


American Woodmark Beneish M-Score Related Terms

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American Woodmark (American Woodmark) Business Description

Traded in Other Exchanges
Address
561 Shady Elm Road, Winchester, VA, USA, 22602
American Woodmark Corp manufactures and distributes kitchen cabinets and vanities for the remodeling and new home construction markets. The company offers framed stock cabinets in over 400 different cabinet lines and prices from relatively inexpensive to medium-priced styles. Its products are sold on a national basis across the United States to the remodeling and new home construction markets. The products are sold under the brand names American Woodmark, Simply Woodmark, Timberlake, Shenandoah Cabinetry, Shenandoah Value Series, and Waypoint Living Spaces.
Executives
Andrew B Cogan director C/O KNOLL INC., 1235 WATER STREET, EAST GREENVILLE PA 18041
Vance W Tang director C/O KONE INC., 4225 NAPERVILLE ROAD, SUITE 400, LISLE IL 60532
Michael Scott Culbreth officer: SVP & CFO 3102 SHAWNEE DRIVE, WINCHESTER VA 22601
Latasha Akoma director 2254 BALSAN WAY, WELLINGTON FL 33414
Emily Cavanagh Videtto director 1901 WEST 4TH STREET, PELLA IA 50219
David A Rodriguez director 10400 FERNWOOD ROAD, BETHESDA MD 20817
Daniel T Hendrix director 2859 PACES ROAD, ATLANTA GA 30339
Paul Joachimczyk officer: VP & CFO C/O TOPBUILD CORP., 260 JIMMY ANN DRIVE, DAYTONA BEACH FL 32114
Adams Robert J Jr officer: SVP Value Stream Operations 3102 SHAWNEE DRIVE, WINCHESTER VA 22601
Roger Perry Campbell officer: SVP & GM New Construction 3102 SHAWNEE DRIVE, WINCHESTER VA 22601
Steven Cary Dunston officer: Senior VP, Manufacturing 3102 SHAWNEE DRIVE, WINCHESTER VA 22601
Teresa M May director 2 COREY CREEK ROAD, TOLEDO OH 43623
Carol B Moerdyk director LIBBEY INC, PO BOX 10060, TOLEDO OH 43699-0060
James G Davis director C/O JAMES G DAVIS CONSTRUCTION CORP, 13530 PARKLAWN DRIVE, ROCKVILLE MD 20852
William F Brandt director, 10 percent owner, officer: Chairman C/O AMERICAN WOODMARK CORPORATION, 3102 SHAWNEE DRIVE, WINCHESTER VA 22601