lastminute.com NV (XSWX:LMN) Beneish M-Score : -2.25 (As of May. 27, 2024)

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What is lastminute.com NV 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 -2.25 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for lastminute.com NV's Beneish M-Score or its related term are showing as below:

XSWX:LMN' s Beneish M-Score Range Over the Past 10 Years
Min: -3.04 Med: -2.49 Max: -2.17
Current: -2.25

During the past 13 years, the highest Beneish M-Score of lastminute.com NV was -2.17. The lowest was -3.04. And the median was -2.49.

lastminute.com NV Beneish M-Score Historical Data

The historical data trend for lastminute.com 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.

* Premium members only.

lastminute.com NV Beneish M-Score Chart

lastminute.com NV Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-2.77

-3.04

-2.76

-2.53

-2.25

lastminute.com NV Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Beneish M-Score	Get a 7-Day Free Trial															-2.76	-	-2.53	-	-2.25

Competitive Comparison of lastminute.com NV's Beneish M-Score

For the Travel Services subindustry, lastminute.com 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.

lastminute.com NV's Beneish M-Score Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, lastminute.com NV's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where lastminute.com NV's Beneish M-Score falls into.

lastminute.com 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 lastminute.com NV for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.917

0.528 * 1

0.404 * 1.0882

0.892 * 1.0296

0.115 * 0.7877

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9247

4.679 * 0.047792

0.327 * 0.9145

-2.25

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was CHF90.2 Mil.
Revenue was CHF299.1 Mil.
Gross Profit was CHF299.1 Mil.
Total Current Assets was CHF194.2 Mil.
Total Assets was CHF440.3 Mil.
Property, Plant and Equipment(Net PPE) was CHF9.8 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF15.9 Mil.
Selling, General, & Admin. Expense(SGA) was CHF133.9 Mil.
Total Current Liabilities was CHF351.3 Mil.
Long-Term Debt & Capital Lease Obligation was CHF11.2 Mil.
Net Income was CHF6.6 Mil.
Gross Profit was CHF0.0 Mil.
Cash Flow from Operations was CHF-14.5 Mil.

Total Receivables was CHF95.5 Mil.
Revenue was CHF290.5 Mil.
Gross Profit was CHF290.5 Mil.
Total Current Assets was CHF228.4 Mil.
Total Assets was CHF481.3 Mil.
Property, Plant and Equipment(Net PPE) was CHF15.6 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF14.9 Mil.
Selling, General, & Admin. Expense(SGA) was CHF140.7 Mil.
Total Current Liabilities was CHF404.1 Mil.
Long-Term Debt & Capital Lease Obligation was CHF29.3 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)
	=	(90.154 / 299.084)	/	(95.488 / 290.493)
	=	0.301434	/	0.32871
	=	0.917

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)
	=	(290.493 / 290.493)	/	(299.084 / 299.084)
	=	1	/	1
	=	1

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 - (194.23 + 9.812) / 440.258)	/	(1 - (228.372 + 15.641) / 481.335)
	=	0.53654	/	0.49305
	=	1.0882

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
	=	299.084	/	290.493
	=	1.0296

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))
	=	(14.853 / (14.853 + 15.641))	/	(15.896 / (15.896 + 9.812))
	=	0.487079	/	0.618329
	=	0.7877

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)
	=	(133.936 / 299.084)	/	(140.68 / 290.493)
	=	0.447821	/	0.48428
	=	0.9247

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)
	=	((11.208 + 351.277) / 440.258)	/	((29.31 + 404.069) / 481.335)
	=	0.823347	/	0.900369
	=	0.9145

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
	=	(6.562 - 0	-	-14.479)	/	440.258
	=	0.047792

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.

lastminute.com NV has a M-score of -2.25 suggests that the company is unlikely to be a manipulator.

lastminute.com NV Beneish M-Score Related Terms

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lastminute.com NV (XSWX:LMN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » lastminute.com NV (XSWX:LMN) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

LMNz:UK 09B:Germany

Address

Basisweg 10, Amsterdam, NLD, 1043 AP

Website

https://in.lastminute.com

lastminute.com NV Switzerland-based company that operates in the online travel and leisure industry. It offers online tools & technologies for search compare and booking flights, vacation packages, Car rentals, Lifestyle, hotel bookings, and other Ancillary Services. Group operates under a number of key brands, including lastminute.com, Bravofly, Rumbo, Volagratis, and Jetcost. The company offers services to customers through websites and mobile apps in approximately different languages and across 40 countries. The company business is spread across various geographical regions including France, the UK, Spain, Switzerland, and internationally. Its segments include Online Travel Agencies, Metasearch, Media, and Other segments.

lastminute.com NV (XSWX:LMN) Headlines

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