Playa Hotels & Resorts NV Beneish M-Score Historical Data
The historical data trend for Playa Hotels & Resorts NV'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.
Playa Hotels & Resorts NV Beneish M-Score Chart
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Playa Hotels & Resorts NV Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.51 |
-3.24 |
-2.03 |
-1.96 |
-2.77 |
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Playa Hotels & Resorts NV 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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-1.96 |
-2.27 |
-2.28 |
-2.55 |
-2.77 |
Competitive Comparison of Playa Hotels & Resorts NV's Beneish M-Score
For the Resorts & Casinos subindustry, Playa Hotels & Resorts NV'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.
Playa Hotels & Resorts NV's Beneish M-Score Distribution in the Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Playa Hotels & Resorts NV's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Playa Hotels & Resorts NV's Beneish M-Score falls into.
Playa Hotels & Resorts NV 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 Playa Hotels & Resorts NV 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 * 0.7478 | + | 0.528 * 0.9836 | + | 0.404 * 1.0946 | + | 0.892 * 1.1416 | + | 0.115 * 0.8902 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9051 | + | 4.679 * -0.042582 | - | 0.327 * 1.0529 |
| = | -2.77 |
* 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 $90.4 Mil.
Revenue was 242.517 + 213.145 + 248.04 + 273.802 = $977.5 Mil.
Gross Profit was 113.998 + 86.789 + 115.434 + 144.834 = $461.1 Mil.
Total Current Assets was $430.8 Mil.
Total Assets was $1,933.7 Mil.
Property, Plant and Equipment(Net PPE) was $1,422.0 Mil.
Depreciation, Depletion and Amortization(DDA) was $81.8 Mil.
Selling, General, & Admin. Expense(SGA) was $192.8 Mil.
Total Current Liabilities was $218.8 Mil.
Long-Term Debt & Capital Lease Obligation was $1,070.1 Mil.
Net Income was 1.004 + -10.504 + 20.633 + 42.719 = $53.9 Mil.
Non Operating Income was -5.098 + 0.61 + 4.088 + 0.219 = $-0.2 Mil.
Cash Flow from Operations was 61.209 + 8.054 + 21.824 + 45.287 = $136.4 Mil.
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Total Receivables was $105.9 Mil.
Revenue was 210.8 + 204.622 + 221.267 + 219.574 = $856.3 Mil.
Gross Profit was 95.068 + 87.289 + 102.142 + 112.734 = $397.2 Mil.
Total Current Assets was $451.1 Mil.
Total Assets was $2,069.8 Mil.
Property, Plant and Equipment(Net PPE) was $1,539.5 Mil.
Depreciation, Depletion and Amortization(DDA) was $78.4 Mil.
Selling, General, & Admin. Expense(SGA) was $186.6 Mil.
Total Current Liabilities was $239.5 Mil.
Long-Term Debt & Capital Lease Obligation was $1,070.8 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) |
| = | (90.444 / 977.504) | / | (105.943 / 856.263) |
| = | 0.092525 | / | 0.123727 |
| | = | 0.7478 |
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) |
| = | (397.233 / 856.263) | / | (461.055 / 977.504) |
| = | 0.463915 | / | 0.471666 |
| | = | 0.9836 |
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 - (430.795 + 1421.998) / 1933.725) | / | (1 - (451.143 + 1539.535) / 2069.82) |
| = | 0.041853 | / | 0.038236 |
| | = | 1.0946 |
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 |
| = | 977.504 | / | 856.263 |
| | = | 1.1416 |
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)) |
| = | (78.372 / (78.372 + 1539.535)) | / | (81.827 / (81.827 + 1421.998)) |
| = | 0.04844 | / | 0.054413 |
| | = | 0.8902 |
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) |
| = | (192.822 / 977.504) | / | (186.608 / 856.263) |
| = | 0.19726 | / | 0.217933 |
| | = | 0.9051 |
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) |
| = | ((1070.097 + 218.767) / 1933.725) | / | ((1070.782 + 239.494) / 2069.82) |
| = | 0.666519 | / | 0.633039 |
| | = | 1.0529 |
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 |
| = | (53.852 - -0.181 | - | 136.374) | / | 1933.725 |
| | = | -0.042582 |
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.
Playa Hotels & Resorts NV has a M-score of -2.77 suggests that the company is unlikely to be a manipulator.
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