Atlanta Braves Holdings Beneish M-Score Historical Data
The historical data trend for Atlanta Braves 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.
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Atlanta Braves Holdings Annual Data
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Trend |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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|
|
|
-2.62 |
-1.69 |
-1.80 |
-0.99 |
-2.80 |
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Atlanta Braves Holdings Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
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|
|
|
|
|
|
|
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|
|
|
|
|
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-0.99 |
-2.08 |
-2.16 |
-2.11 |
-2.80 |
Competitive Comparison
For the Entertainment subindustry, Atlanta Braves 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.
Atlanta Braves Holdings Beneish M-Score Distribution
For the Media - Diversified industry and Communication Services sector, Atlanta Braves Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Atlanta Braves Holdings's Beneish M-Score falls into.
Atlanta Braves 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 Atlanta Braves 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 * 0.825 | + | 0.528 * 1.0473 | + | 0.404 * 1.0433 | + | 0.892 * 1.0859 | + | 0.115 * 1.0558 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0807 | + | 4.679 * -0.054997 | - | 0.327 * 1.0506 |
| = | -2.80 |
* 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 $62.9 Mil.
Revenue was 67.748 + 271.824 + 270.123 + 31 = $640.7 Mil.
Gross Profit was 13.398 + 71.382 + 72.392 + 31 = $188.2 Mil.
Total Current Assets was $218.0 Mil.
Total Assets was $1,504.3 Mil.
Property, Plant and Equipment(Net PPE) was $766.7 Mil.
Depreciation, Depletion and Amortization(DDA) was $71.0 Mil.
Selling, General, & Admin. Expense(SGA) was $123.8 Mil.
Total Current Liabilities was $233.7 Mil.
Long-Term Debt & Capital Lease Obligation was $630.7 Mil.
Net Income was -32.358 + -6.047 + -28.913 + -59 = $-126.3 Mil.
Non Operating Income was 3.696 + -3.884 + -31.023 + -14 = $-45.2 Mil.
Cash Flow from Operations was 22.932 + -57.198 + -49.108 + 85 = $1.6 Mil.
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Total Receivables was $70.2 Mil.
Revenue was 71.259 + 245.447 + 250.325 + 23 = $590.0 Mil.
Gross Profit was 31.179 + 49.142 + 78.173 + 23 = $181.5 Mil.
Total Current Assets was $267.4 Mil.
Total Assets was $1,490.7 Mil.
Property, Plant and Equipment(Net PPE) was $729.8 Mil.
Depreciation, Depletion and Amortization(DDA) was $71.7 Mil.
Selling, General, & Admin. Expense(SGA) was $105.5 Mil.
Total Current Liabilities was $240.9 Mil.
Long-Term Debt & Capital Lease Obligation was $574.4 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) |
| = | (62.922 / 640.695) | / | (70.234 / 590.031) |
| = | 0.098209 | / | 0.119034 |
| | = | 0.825 |
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) |
| = | (181.494 / 590.031) | / | (188.172 / 640.695) |
| = | 0.307601 | / | 0.2937 |
| | = | 1.0473 |
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 - (218.019 + 766.747) / 1504.33) | / | (1 - (267.378 + 729.797) / 1490.661) |
| = | 0.345379 | / | 0.331052 |
| | = | 1.0433 |
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 |
| = | 640.695 | / | 590.031 |
| | = | 1.0859 |
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)) |
| = | (71.697 / (71.697 + 729.797)) | / | (70.98 / (70.98 + 766.747)) |
| = | 0.089454 | / | 0.084729 |
| | = | 1.0558 |
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) |
| = | (123.788 / 640.695) | / | (105.488 / 590.031) |
| = | 0.193209 | / | 0.178784 |
| | = | 1.0807 |
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) |
| = | ((630.702 + 233.673) / 1504.33) | / | ((574.38 + 240.911) / 1490.661) |
| = | 0.574591 | / | 0.546933 |
| | = | 1.0506 |
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 |
| = | (-126.318 - -45.211 | - | 1.626) | / | 1504.33 |
| | = | -0.054997 |
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.
Atlanta Braves Holdings has a M-score of -2.80 suggests that the company is unlikely to be a manipulator.
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