DKS has been removed from your Stock Email Alerts list.
Please enter Portfolio Name for new portfolio.
The zones of discrimination for M-Score is as such:
An M-Score of less than -2.22 suggests that the company is not an accounting manipulator.
An M-Score of greater than -2.22 signals that the company is likely an accounting manipulator.
Dick's Sporting Goods Inc has a M-score of -2.77 suggests that the company is not a manipulator.
During the past 13 years, the highest Beneish M-Score of Dick's Sporting Goods Inc was -0.18. The lowest was -3.38. And the median was -2.52.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Z-Score) or business trend (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 Dick's Sporting Goods Inc 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 * 0.9937||+||0.528 * 1.0235||+||0.404 * 0.9189||+||0.892 * 1.0874||+||0.115 * 0.9826|
|-||0.172 * SGAI||+||4.679 * TATA||-||0.327 * LVGI|
|-||0.172 * 0.9977||+||4.679 * -0.0666||-||0.327 * 1.0955|
|This Year (Oct14) TTM:||Last Year (Oct13) TTM:|
|Accounts Receivable was $88 Mil.|
Revenue was 1526.675 + 1688.89 + 1438.908 + 1947.418 = $6,602 Mil.
Gross Profit was 451.972 + 502.556 + 440.883 + 628.067 = $2,023 Mil.
Total Current Assets was $2,076 Mil.
Total Assets was $3,656 Mil.
Property, Plant and Equipment(Net PPE) was $1,195 Mil.
Depreciation, Depletion and Amortization(DDA) was $172 Mil.
Selling, General & Admin. Expense(SGA) was $1,497 Mil.
Total Current Liabilities was $1,259 Mil.
Long-Term Debt was $287 Mil.
Net Income was 49.211 + 69.467 + 69.984 + 138.637 = $327 Mil.
Non Operating Income was 0.486 + 2.013 + 2.364 + 1.549 = $6 Mil.
Cash Flow from Operations was -49.462 + 138.295 + 13.924 + 461.573 = $564 Mil.
|Accounts Receivable was $81 Mil.
Revenue was 1400.623 + 1531.431 + 1333.701 + 1805.301 = $6,071 Mil.
Gross Profit was 424.899 + 479.33 + 411.654 + 588.651 = $1,905 Mil.
Total Current Assets was $1,905 Mil.
Total Assets was $3,348 Mil.
Property, Plant and Equipment(Net PPE) was $1,060 Mil.
Depreciation, Depletion and Amortization(DDA) was $150 Mil.
Selling, General & Admin. Expense(SGA) was $1,380 Mil.
Total Current Liabilities was $1,169 Mil.
Long-Term Debt was $123 Mil.
1. DSRI = Days Sales in Receivables Index
A large increase in DSR could be indicative of revenue inflation.
|DSRI||=||(Receivables_t / Revenue_t)||/||(Receivables_t-1 / Revenue_t-1)|
|=||(87.944 / 6601.891)||/||(81.389 / 6071.056)|
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.
|=||(GrossProfit_t-1 / Revenue_t-1)||/||(GrossProfit_t / Revenue_t)|
|=||(502.556 / 6071.056)||/||(451.972 / 6601.891)|
3. AQI = Asset Quality Index
AQI is the ratio of asset quality in year t to year t-1.
|AQI||=||(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)||/||(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)|
|=||(1 - (2075.865 + 1195.274) / 3655.532)||/||(1 - (1904.925 + 1059.865) / 3347.895)|
4. SGI = Sales Growth Index
Ratio of sales 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.
5. DEPI = Depreciation Index
Measured as the ratio of the rate of depreciation 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))|
|=||(149.906 / (149.906 + 1059.865))||/||(172.491 / (172.491 + 1195.274))|
6. SGAI = Sales, General and Administrative expenses Index
The ratio of SGA expenses 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)|
|=||(1496.851 / 6601.891)||/||(1379.665 / 6071.056)|
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$sgai= in leverage
|LVGI||=||((LTD_t + CurrentLiabilities_t) / TotalAssets_t)||/||((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)|
|=||((286.608 + 1258.779) / 3655.532)||/||((122.996 + 1169.004) / 3347.895)|
8. TATA = Total Accruals to Total Assets
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
|=||(NetIncome_t - NonOperatingIncome_t||-||CashFlowsfromOperations_t)||/||TotalAssets_t|
|=||(327.299 - 6.412||-||564.33)||/||3655.532|
An M-Score of less than -2.22 suggests that the company will not be a manipulator. An M-Score of greater than -2.22 signals that the company is likely to be a manipulator.
Dick's Sporting Goods Inc has a M-score of -2.77 suggests that the company will not be a manipulator.
Altman Z-Score, Piotroski F-Score, Accounts Receivable, Revenue, Gross Profit, Total Current Assets, Total Assets, Property, Plant and Equipment, Depreciation, Depletion and Amortization, Selling, General & Admin. Expense, Total Current Liabilities, Long-Term Debt, Net Income, Non Operating Income, Cash Flow from Operations
Dick's Sporting Goods Inc Annual Data
Dick's Sporting Goods Inc Quarterly Data