InvenTrust Properties Beneish M-Score Historical Data
The historical data trend for InvenTrust Properties'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.
InvenTrust Properties Beneish M-Score Chart
|
InvenTrust Properties Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.61 |
-2.69 |
-2.66 |
-2.62 |
-2.71 |
|
InvenTrust Properties Quarterly Data
|
|
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.62 |
-2.55 |
-2.60 |
-2.70 |
-2.71 |
Competitive Comparison of InvenTrust Properties's Beneish M-Score
For the REIT - Retail subindustry, InvenTrust Properties'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.
InvenTrust Properties's Beneish M-Score Distribution in the REITs Industry
For the REITs industry and Real Estate sector, InvenTrust Properties's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where InvenTrust Properties's Beneish M-Score falls into.
InvenTrust Properties 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 InvenTrust Properties 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 * 0.9369 | + | 0.528 * 0.9872 | + | 0.404 * 1.0177 | + | 0.892 * 1.0928 | + | 0.115 * 0.9712 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8727 | + | 4.679 * -0.053049 | - | 0.327 * 1.0709 |
| = | -2.71 |
* 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 $35.4 Mil.
Revenue was 64.722 + 64.062 + 64.687 + 65.205 = $258.7 Mil.
Gross Profit was 45.498 + 44.211 + 45.979 + 45.347 = $181.0 Mil.
Total Current Assets was $135.1 Mil.
Total Assets was $2,487.3 Mil.
Property, Plant and Equipment(Net PPE) was $0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was $110.1 Mil.
Selling, General, & Admin. Expense(SGA) was $31.8 Mil.
Total Current Liabilities was $59.2 Mil.
Long-Term Debt & Capital Lease Obligation was $814.6 Mil.
Net Income was 2.89 + -0.822 + 2.068 + 1.133 = $5.3 Mil.
Non Operating Income was 3.588 + 2.45 + 1.777 + -0.216 = $7.6 Mil.
Cash Flow from Operations was 29.818 + 36.318 + 47.46 + 16.025 = $129.6 Mil.
|
Total Receivables was $34.5 Mil.
Revenue was 59.271 + 58.757 + 59.893 + 58.786 = $236.7 Mil.
Gross Profit was 39.958 + 39.033 + 42.094 + 42.458 = $163.5 Mil.
Total Current Assets was $172.3 Mil.
Total Assets was $2,473.0 Mil.
Property, Plant and Equipment(Net PPE) was $2.7 Mil.
Depreciation, Depletion and Amortization(DDA) was $89.4 Mil.
Selling, General, & Admin. Expense(SGA) was $33.3 Mil.
Total Current Liabilities was $56.6 Mil.
Long-Term Debt & Capital Lease Obligation was $754.6 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) |
| = | (35.353 / 258.676) | / | (34.528 / 236.707) |
| = | 0.136669 | / | 0.145868 |
| | = | 0.9369 |
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) |
| = | (163.543 / 236.707) | / | (181.035 / 258.676) |
| = | 0.690909 | / | 0.699852 |
| | = | 0.9872 |
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 - (135.116 + 0) / 2487.331) | / | (1 - (172.29 + 2.65) / 2473.034) |
| = | 0.945678 | / | 0.929261 |
| | = | 1.0177 |
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 |
| = | 258.676 | / | 236.707 |
| | = | 1.0928 |
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)) |
| = | (89.363 / (89.363 + 2.65)) | / | (110.087 / (110.087 + 0)) |
| = | 0.9712 | / | 1 |
| | = | 0.9712 |
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) |
| = | (31.797 / 258.676) | / | (33.342 / 236.707) |
| = | 0.122922 | / | 0.140858 |
| | = | 0.8727 |
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) |
| = | ((814.568 + 59.177) / 2487.331) | / | ((754.551 + 56.629) / 2473.034) |
| = | 0.351278 | / | 0.32801 |
| | = | 1.0709 |
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 |
| = | (5.269 - 7.599 | - | 129.621) | / | 2487.331 |
| | = | -0.053049 |
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.
InvenTrust Properties has a M-score of -2.71 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
IVT has been successfully added to your