Genesco Beneish M-Score Historical Data
The historical data trend for Genesco'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.
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Genesco Annual Data
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Trend |
Jan15 |
Jan16 |
Jan17 |
Jan18 |
Jan19 |
Jan20 |
Jan21 |
Jan22 |
Jan23 |
Jan24 |
| Beneish M-Score |
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|
|
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-3.38 |
-2.88 |
-2.63 |
-1.23 |
-2.53 |
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Genesco Quarterly Data
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Apr19 |
Jul19 |
Oct19 |
Jan20 |
Apr20 |
Jul20 |
Oct20 |
Jan21 |
Apr21 |
Jul21 |
Oct21 |
Jan22 |
Apr22 |
Jul22 |
Oct22 |
Jan23 |
Apr23 |
Jul23 |
Oct23 |
Jan24 |
| Beneish M-Score |
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|
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-1.23 |
-1.41 |
-2.06 |
-2.41 |
-2.53 |
Competitive Comparison
For the Apparel Retail subindustry, Genesco'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.
Genesco Beneish M-Score Distribution
For the Retail - Cyclical industry and Consumer Cyclical sector, Genesco's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Genesco's Beneish M-Score falls into.
Genesco 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 Genesco 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 * 1.3476 | + | 0.528 * 1.0079 | + | 0.404 * 0.8893 | + | 0.892 * 0.9747 | + | 0.115 * 0.8418 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0653 | + | 4.679 * -0.060791 | - | 0.327 * 0.9683 |
| = | -2.53 |
* 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 (Jan24) TTM: | Last Year (Jan23) TTM: |
Total Receivables was $54 Mil.
Revenue was 738.95 + 579.315 + 523.027 + 483.332 = $2,325 Mil.
Gross Profit was 342.067 + 278.425 + 249.52 + 228.808 = $1,099 Mil.
Total Current Assets was $507 Mil.
Total Assets was $1,330 Mil.
Property, Plant and Equipment(Net PPE) was $677 Mil.
Depreciation, Depletion and Amortization(DDA) was $49 Mil.
Selling, General, & Admin. Expense(SGA) was $1,082 Mil.
Total Current Liabilities was $320 Mil.
Long-Term Debt & Capital Lease Obligation was $394 Mil.
Net Income was 27.189 + 6.539 + -31.665 + -18.89 = $-17 Mil.
Non Operating Income was -1.355 + -0.247 + -28.775 + -0.4 = $-31 Mil.
Cash Flow from Operations was 118.336 + 1.595 + 35.31 + -60.445 = $95 Mil.
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Total Receivables was $41 Mil.
Revenue was 725.02 + 603.788 + 535.332 + 520.748 = $2,385 Mil.
Gross Profit was 336.625 + 293.807 + 254.314 + 251.444 = $1,136 Mil.
Total Current Assets was $573 Mil.
Total Assets was $1,456 Mil.
Property, Plant and Equipment(Net PPE) was $705 Mil.
Depreciation, Depletion and Amortization(DDA) was $43 Mil.
Selling, General, & Admin. Expense(SGA) was $1,042 Mil.
Total Current Liabilities was $361 Mil.
Long-Term Debt & Capital Lease Obligation was $446 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) |
| = | (53.618 / 2324.624) | / | (40.818 / 2384.888) |
| = | 0.023065 | / | 0.017115 |
| | = | 1.3476 |
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) |
| = | (1136.19 / 2384.888) | / | (1098.82 / 2324.624) |
| = | 0.476412 | / | 0.472687 |
| | = | 1.0079 |
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 - (507.351 + 677.162) / 1329.89) | / | (1 - (572.669 + 704.724) / 1456.426) |
| = | 0.109315 | / | 0.122926 |
| | = | 0.8893 |
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 |
| = | 2324.624 | / | 2384.888 |
| | = | 0.9747 |
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)) |
| = | (42.818 / (42.818 + 704.724)) | / | (49.441 / (49.441 + 677.162)) |
| = | 0.057278 | / | 0.068044 |
| | = | 0.8418 |
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) |
| = | (1082.04 / 2324.624) | / | (1042.094 / 2384.888) |
| = | 0.465469 | / | 0.436957 |
| | = | 1.0653 |
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) |
| = | ((393.755 + 319.537) / 1329.89) | / | ((445.971 + 360.783) / 1456.426) |
| = | 0.536354 | / | 0.553927 |
| | = | 0.9683 |
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 |
| = | (-16.827 - -30.777 | - | 94.796) | / | 1329.89 |
| | = | -0.060791 |
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.
Genesco has a M-score of -2.53 suggests that the company is unlikely to be a manipulator.
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