Carmike Cinemas Beneish M-Score Historical Data
The historical data trend for Carmike Cinemas'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.
Carmike Cinemas Beneish M-Score Chart
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Carmike Cinemas Annual Data
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| Beneish M-Score |
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-3.19 |
-1.86 |
-2.56 |
-1.60 |
-2.98 |
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Carmike Cinemas Quarterly Data
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| Beneish M-Score |
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-3.05 |
-2.98 |
-2.86 |
-2.82 |
-2.92 |
Competitive Comparison of Carmike Cinemas's Beneish M-Score
For the Broadcasting subindustry, Carmike Cinemas'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.
Carmike Cinemas's Beneish M-Score Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Carmike Cinemas's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Carmike Cinemas's Beneish M-Score falls into.
Carmike Cinemas 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 Carmike Cinemas 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 * 0.828 | + | 0.528 * 0.9641 | + | 0.404 * 1.1163 | + | 0.892 * 1.0939 | + | 0.115 * 0.928 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0129 | + | 4.679 * -0.083044 | - | 0.327 * 0.991 |
| = | -2.92 |
* 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.
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) |
| = | (8.976 / 841.286) | / | (9.909 / 769.061) |
| = | 0.010669 | / | 0.012885 |
| | = | 0.828 |
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) |
| = | (242.092 / 769.061) | / | (274.68 / 841.286) |
| = | 0.314789 | / | 0.3265 |
| | = | 0.9641 |
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 - (128.327 + 487.099) / 902.561) | / | (1 - (159.185 + 476.649) / 889.26) |
| = | 0.318134 | / | 0.284985 |
| | = | 1.1163 |
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 |
| = | 841.286 | / | 769.061 |
| | = | 1.0939 |
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)) |
| = | (54.62 / (54.62 + 476.649)) | / | (60.685 / (60.685 + 487.099)) |
| = | 0.10281 | / | 0.110783 |
| | = | 0.928 |
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) |
| = | (149.049 / 841.286) | / | (134.52 / 769.061) |
| = | 0.177168 | / | 0.174915 |
| | = | 1.0129 |
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) |
| = | ((449.161 + 98.153) / 902.561) | / | ((447.105 + 97.039) / 889.26) |
| = | 0.606401 | / | 0.611907 |
| | = | 0.991 |
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 |
| = | (6.071 - 0 | - | 81.023) | / | 902.561 |
| | = | -0.083044 |
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.
Carmike Cinemas has a M-score of -2.92 suggests that the company is unlikely to be a manipulator.
Carmike Cinemas (Carmike Cinemas) Business Description
Traded in Other Exchanges
N/A
Address
Carmike Cinemas Inc was organized in the state of Delaware in April 1982. The Company is a motion picture exhibitor in the United States and as of December 31, 2013, it owned, operated or had an interest in 252 theatres with 2,660 screens located in 37 states. The Company target small to mid-size non-urban markets with the belief that they provide a number of operating benefits, including lower operating costs and fewer alternative forms of entertainment. Its theatres are equipped to provide digital cinema and as of December 31, 2013, it had 240 theatres with 2,552 screens on a digital-based platform. In addition, Company had 233 theatres with 983 screens equipped for 3-D as of December 31, 2013. At December 31, 2013, it operated 15 theatres with 107 screens as discount theatres. The Company obtains licenses to exhibit films by directly negotiating with film distributors. It license films through its booking office located in Columbus, Georgia. The Company typically enters into film licenses that provide for rental fees based on firm terms which are negotiated and established prior to the opening of the picture; mutually agreed settlement upon the conclusion of the film run; or a sliding scale formula which is based on a percentage of the box office receipts using a pre-determined and agreed-upon film rental scale. The Company utilizes a point-of-sale system in its theatres developed by Allure Global Solutions, Inc., its point-of-sale system allows to centralize theatre-level administrative functions at its corporate headquarters. It allows corporate management to monitor ticket and concession sales and box office and concession staffing on a daily basis, enabling theatre managers to focus on the day-to-day operation of the theatre. The point-of-sale systems also facilitate services such as advanced ticket sales and Internet ticket sales. The Company owns or has rights to trademarks or trade-names that are used in conjunction with the operations of its theatres. It owns Carmike Cinemas and Hollywood Connection, the Carmike C and its film strip design, Big D, Carmike Rewards, Ovation Club, Muvico, MuviXL, and Wynnsong Cinemas trademarks. In addition, its logo is its trademark. Coca-Cola, Rave Reviews Cinemas, L.L.C., Cinemark USA, Inc., Christie, RealD, Screenvision, Showtime Concession Supply, Inc., Continental Concession Supplies, Inc., Allure Global Solutions, Inc. Bogarts and IMAX are registered trademarks. The Company competes with other motion picture exhibitors and a number of other film delivery methods, including DVDs, video-on-demand, pay-per view services and downloads via the Internet. It also competes for the publics leisure time and disposable income with all forms of entertainment, including sporting events, concerts, live theatre and restaurants. The Companys theatre operations are also subject to federal, state and local laws governing such matters as construction, renovation and operation of its theatres as well
Executives
| Sean T Erwin |
director |
8540 GANDER CREEK DRIVE DAYTON OH 45342 |
| A Dale Mayo |
officer: Pres., Alternative Programming |
250 EAST BROAD STREET, WESTFIELD NJ 07090 |
| Roland Smith |
director |
2951 28TH STREET, SANTA MONICA CA 90405 |
| Richard B Hare |
officer: SVP-Finance, Treasurer and CFO |
CARMIKE CINEMAS INC, 1301 FIRST AVENUE, COLUMBUS GA 31901 |
| Daniel E Ellis |
officer: SVP, General Counsel & Sec |
|
| James A Fleming |
director |
1170 PEACHTREE STREET NE, SUITE 600, ATLANTA GA 30309 |
| Alan J Hirschfield |
director |
3490 CLUBHOUSE DR 1-2, WILSON WY 83014 |
| Bigfoot Ventures Ltd. |
10 percent owner |
22/F BIGFOOT CENTRE, 38 YIU WA ST., CAUSEWAY BAY, HONG KONG K3 NONE |
| Meridee Moore |
other: See Remarks |
|
| James J Gaffney |
director |
10551 WILSHIRE BLVD, LOS ANGELES CA 90024 |
| Kenneth A Pontarelli |
director |
85 BROAD ST, NEW YORK NY 10004 |
| Martin A Durant |
officer: SVP-Finance, Treasurer & CFO |
1932 WYNNTON ROAD, COLUMBUS GA 31999 |
| Richard A Friedman |
other: Former Director |
C/O GOLDMAN, SACHS & CO., 200 WEST STREET, NEW YORK NY 10282 |
| Jordan John W Ii |
director |
875 NORTH MICHIGAN AVENUE, SUITE 4020, CHICAGO IL 60611 |
| Goldman Sachs & Co. Llc |
10 percent owner |
200 WEST STREET, NEW YORK NY 10282 |
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