Costar Group Co Beneish M-Score Historical Data
The historical data trend for Costar Group Co'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.
Costar Group Co Beneish M-Score Chart
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Costar Group Co Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.85 |
-2.36 |
-2.86 |
-1.41 |
-2.81 |
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Costar Group Co Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-1.54 |
-2.05 |
-1.87 |
-2.81 |
-2.64 |
Competitive Comparison of Costar Group Co's Beneish M-Score
For the Computer Hardware subindustry, Costar Group Co'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.
Costar Group Co's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Costar Group Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Costar Group Co's Beneish M-Score falls into.
Costar Group Co 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 Costar Group Co 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 * 1.1774 | + | 0.528 * 0.7287 | + | 0.404 * 1.6424 | + | 0.892 * 0.6802 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.2825 | + | 4.679 * -0.020397 | - | 0.327 * 1.041 |
| = | -2.64 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was ¥992 Mil.
Revenue was 450.931 + 511.289 + 512.676 + 573.697 = ¥2,049 Mil.
Gross Profit was 54.788 + -3.77 + 37.317 + 63.242 = ¥152 Mil.
Total Current Assets was ¥1,740 Mil.
Total Assets was ¥3,077 Mil.
Property, Plant and Equipment(Net PPE) was ¥774 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥62 Mil.
Total Current Liabilities was ¥1,864 Mil.
Long-Term Debt & Capital Lease Obligation was ¥32 Mil.
Net Income was -9.964 + -127.813 + -37.649 + -17.171 = ¥-193 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was -74.865 + 39.369 + -156.266 + 61.926 = ¥-130 Mil.
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Total Receivables was ¥1,239 Mil.
Revenue was 575.865 + 757.925 + 742.96 + 935.034 = ¥3,012 Mil.
Gross Profit was 29.956 + -41.979 + 63.414 + 111.005 = ¥162 Mil.
Total Current Assets was ¥2,353 Mil.
Total Assets was ¥3,426 Mil.
Property, Plant and Equipment(Net PPE) was ¥691 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥71 Mil.
Total Current Liabilities was ¥1,984 Mil.
Long-Term Debt & Capital Lease Obligation was ¥45 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) |
| = | (992.351 / 2048.593) | / | (1239.11 / 3011.784) |
| = | 0.484406 | / | 0.411421 |
| | = | 1.1774 |
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) |
| = | (162.396 / 3011.784) | / | (151.577 / 2048.593) |
| = | 0.05392 | / | 0.073991 |
| | = | 0.7287 |
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 - (1740.329 + 773.562) / 3076.993) | / | (1 - (2352.736 + 691.417) / 3425.894) |
| = | 0.183004 | / | 0.111428 |
| | = | 1.6424 |
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 |
| = | 2048.593 | / | 3011.784 |
| | = | 0.6802 |
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)) |
| = | (0 / (0 + 691.417)) | / | (0 / (0 + 773.562)) |
| = | 0 | / | 0 |
| | = | 1 |
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) |
| = | (61.622 / 2048.593) | / | (70.642 / 3011.784) |
| = | 0.03008 | / | 0.023455 |
| | = | 1.2825 |
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) |
| = | ((32.494 + 1864.371) / 3076.993) | / | ((44.791 + 1983.948) / 3425.894) |
| = | 0.616467 | / | 0.592178 |
| | = | 1.041 |
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 |
| = | (-192.597 - 0 | - | -129.836) | / | 3076.993 |
| | = | -0.020397 |
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.
Costar Group Co has a M-score of -2.64 suggests that the company is unlikely to be a manipulator.
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