GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Champion Industries Inc (OTCPK:CHMP) » Definitions » Beneish M-Score

Champion Industries (Champion Industries) Beneish M-Score : 0.00 (As of Apr. 28, 2024)


View and export this data going back to 2012. Start your Free Trial

What is Champion Industries 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.

The historical rank and industry rank for Champion Industries's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Champion Industries was 0.00. The lowest was 0.00. And the median was 0.00.


Champion Industries Beneish M-Score Historical Data

The historical data trend for Champion Industries'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.

Champion Industries Beneish M-Score Chart

Champion Industries Annual Data
Trend Oct06 Oct07 Oct08 Oct09 Oct10 Oct11 Oct12 Oct13 Oct14 Oct15
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -3.23 -6.36 -4.44 -2.55 -3.15

Champion Industries Quarterly Data
Jul11 Oct11 Jan12 Apr12 Jul12 Oct12 Jan13 Apr13 Jul13 Oct13 Jan14 Apr14 Jul14 Oct14 Jan15 Apr15 Jul15 Oct15 Jan16 Apr16
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.83 -2.91 -3.15 -2.76 -2.90

Competitive Comparison of Champion Industries's Beneish M-Score

For the Business Equipment & Supplies subindustry, Champion Industries'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.


Champion Industries's Beneish M-Score Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Champion Industries's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Champion Industries's Beneish M-Score falls into.



Champion Industries 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 Champion Industries 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 * 0.9395+0.528 * 1.0542+0.404 * 0.9612+0.892 * 0.9663+0.115 * 1.014
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9991+4.679 * -0.071528-0.327 * 1.0482
=-2.90

* 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 (Apr16) TTM:Last Year (Apr15) TTM:
Total Receivables was $9.00 Mil.
Revenue was 15.875 + 15.923 + 15.802 + 14.394 = $61.99 Mil.
Gross Profit was 3.981 + 3.631 + 3.803 + 3.452 = $14.87 Mil.
Total Current Assets was $15.03 Mil.
Total Assets was $23.61 Mil.
Property, Plant and Equipment(Net PPE) was $6.33 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.67 Mil.
Selling, General, & Admin. Expense(SGA) was $15.25 Mil.
Total Current Liabilities was $21.34 Mil.
Long-Term Debt & Capital Lease Obligation was $0.58 Mil.
Net Income was -0.081 + -0.27 + -0.119 + -0.652 = $-1.12 Mil.
Non Operating Income was 0.021 + 0.014 + 0.005 + 0.008 = $0.05 Mil.
Cash Flow from Operations was 0.258 + -0.343 + 0.843 + -0.239 = $0.52 Mil.
Total Receivables was $9.91 Mil.
Revenue was 16.289 + 14.8 + 17.743 + 15.325 = $64.16 Mil.
Gross Profit was 4.178 + 3.749 + 4.553 + 3.739 = $16.22 Mil.
Total Current Assets was $15.60 Mil.
Total Assets was $24.39 Mil.
Property, Plant and Equipment(Net PPE) was $6.36 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.71 Mil.
Selling, General, & Admin. Expense(SGA) was $15.80 Mil.
Total Current Liabilities was $12.99 Mil.
Long-Term Debt & Capital Lease Obligation was $8.61 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)
=(8.999 / 61.994) / (9.913 / 64.157)
=0.145159 / 0.154512
=0.9395

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)
=(16.219 / 64.157) / (14.867 / 61.994)
=0.252802 / 0.239814
=1.0542

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 - (15.029 + 6.329) / 23.613) / (1 - (15.602 + 6.363) / 24.388)
=0.095498 / 0.099352
=0.9612

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
=61.994 / 64.157
=0.9663

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))
=(1.713 / (1.713 + 6.363)) / (1.674 / (1.674 + 6.329))
=0.21211 / 0.209172
=1.014

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)
=(15.252 / 61.994) / (15.799 / 64.157)
=0.246024 / 0.246255
=0.9991

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)
=((0.583 + 21.341) / 23.613) / ((8.611 + 12.992) / 24.388)
=0.928472 / 0.885804
=1.0482

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
=(-1.122 - 0.048 - 0.519) / 23.613
=-0.071528

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.

Champion Industries has a M-score of -2.90 suggests that the company is unlikely to be a manipulator.


Champion Industries Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Champion Industries's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Champion Industries (Champion Industries) Business Description

Traded in Other Exchanges
N/A
Address
2450 First Avenue, P.O. Box 2968, Huntington, WV, USA, 25728
Champion Industries Inc is a commercial printer, business form manufacturer, and supplier of office products and office furniture. The company operates principally in two industry segments organized on the basis of product lines: Printing segment and Office Products and Furniture segment. The Printing segment comprises the production, printing and sale, printed materials including brochures, pamphlets, reports, tags, continuous and other forms principally to commercial customers. The Office Product and Furniture segment are engaged in the sale of office products and office furniture including interior design services. Printing segment is the major revenue contributor to the company.
Executives
Philip E Cline director P O BOX 119 HUNTINGTON WV 25706-0119
Marshall T Reynolds director, 10 percent owner, officer: Chairman/Chief Exec. Officer 2450 FIRST AVENUE, HUNTINGTON WV 25704
Toney K Adkins officer: President and COO ROUTE 1 BOX 622 GENOA WV 25517
Todd R Fry officer: Sen.Vice Pres./Chief Fin. Off. CHAMPION INDUSTRIES, P O BOX 2968, HUNTINGTON WV 25728-2968
Mooney Harley F Jr director 1673 WOODVALE DRIVE, CHARLESTON WV 25314
Neal Scaggs director 302 CENTRAL AVENUE, LOGAN WV 25601
Wilcox Glenn W Sr director ONE WEST PACK SQUARE SUITE 1700, ASHEVILLE NC 28801

Champion Industries (Champion Industries) Headlines