DigitalBridge Group Beneish M-Score Historical Data
The historical data trend for DigitalBridge Group'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.
DigitalBridge Group Beneish M-Score Chart
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DigitalBridge Group Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-1.94 |
-4.52 |
-0.13 |
-2.85 |
-0.66 |
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DigitalBridge Group 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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-2.85 |
-2.70 |
-3.21 |
-3.29 |
-0.66 |
Competitive Comparison of DigitalBridge Group's Beneish M-Score
For the Real Estate Services subindustry, DigitalBridge Group'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.
DigitalBridge Group's Beneish M-Score Distribution in the Real Estate Industry
For the Real Estate industry and Real Estate sector, DigitalBridge Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where DigitalBridge Group's Beneish M-Score falls into.
DigitalBridge Group 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 DigitalBridge Group 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 * 0.4038 | + | 0.528 * 0.9703 | + | 0.404 * 6.2929 | + | 0.892 * 1.1822 | + | 0.115 * 1.0266 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8937 | + | 4.679 * -0.037516 | - | 0.327 * 0.2609 |
| = | -0.66 |
* 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 $95.4 Mil.
Revenue was -330.79 + 477.08 + 424.933 + 250.16 = $821.4 Mil.
Gross Profit was -27.375 + 376.871 + 321.449 + 147.283 = $818.2 Mil.
Total Current Assets was $464.4 Mil.
Total Assets was $3,562.6 Mil.
Property, Plant and Equipment(Net PPE) was $41.1 Mil.
Depreciation, Depletion and Amortization(DDA) was $487.2 Mil.
Selling, General, & Admin. Expense(SGA) was $476.7 Mil.
Total Current Liabilities was $99.2 Mil.
Long-Term Debt & Capital Lease Obligation was $420.8 Mil.
Net Income was 115.267 + 276.473 + -8.663 + -197.797 = $185.3 Mil.
Non Operating Income was -4.713 + 253.931 + -12.65 + -151.272 = $85.3 Mil.
Cash Flow from Operations was 41.557 + 99.875 + 72.02 + 20.185 = $233.6 Mil.
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Total Receivables was $199.9 Mil.
Revenue was -384.547 + 429.852 + 416.632 + 232.834 = $694.8 Mil.
Gross Profit was -94.224 + 314.355 + 312.155 + 139.266 = $671.6 Mil.
Total Current Assets was $9,492.0 Mil.
Total Assets was $11,028.5 Mil.
Property, Plant and Equipment(Net PPE) was $32.6 Mil.
Depreciation, Depletion and Amortization(DDA) was $579.5 Mil.
Selling, General, & Admin. Expense(SGA) was $451.2 Mil.
Total Current Liabilities was $5,561.1 Mil.
Long-Term Debt & Capital Lease Obligation was $609.9 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) |
| = | (95.396 / 821.383) | / | (199.853 / 694.771) |
| = | 0.116141 | / | 0.287653 |
| | = | 0.4038 |
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) |
| = | (671.552 / 694.771) | / | (818.228 / 821.383) |
| = | 0.96658 | / | 0.996159 |
| | = | 0.9703 |
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 - (464.355 + 41.13) / 3562.55) | / | (1 - (9492.022 + 32.623) / 11028.503) |
| = | 0.858111 | / | 0.136361 |
| | = | 6.2929 |
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 |
| = | 821.383 | / | 694.771 |
| | = | 1.1822 |
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)) |
| = | (579.458 / (579.458 + 32.623)) | / | (487.215 / (487.215 + 41.13)) |
| = | 0.946701 | / | 0.922153 |
| | = | 1.0266 |
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) |
| = | (476.704 / 821.383) | / | (451.16 / 694.771) |
| = | 0.580368 | / | 0.649365 |
| | = | 0.8937 |
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) |
| = | ((420.818 + 99.184) / 3562.55) | / | ((609.874 + 5561.092) / 11028.503) |
| = | 0.145963 | / | 0.559547 |
| | = | 0.2609 |
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 |
| = | (185.28 - 85.296 | - | 233.637) | / | 3562.55 |
| | = | -0.037516 |
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.
DigitalBridge Group has a M-score of -0.66 signals that the company is likely to be a manipulator.
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