At Home Group Beneish M-Score Historical Data
The historical data trend for At Home 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.
At Home Group Beneish M-Score Chart
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At Home Group Annual Data
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Jan14 |
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Jan16 |
Jan17 |
Jan18 |
Jan19 |
Jan20 |
Jan21 |
| Beneish M-Score |
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-2.31 |
-2.57 |
-2.47 |
-2.68 |
-3.18 |
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At Home Group Quarterly Data
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Jul16 |
Oct16 |
Jan17 |
Apr17 |
Jul17 |
Oct17 |
Jan18 |
Apr18 |
Jul18 |
Oct18 |
Jan19 |
Apr19 |
Jul19 |
Oct19 |
Jan20 |
Apr20 |
Jul20 |
Oct20 |
Jan21 |
Apr21 |
| Beneish M-Score |
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-2.91 |
-3.32 |
-3.33 |
-3.18 |
-2.01 |
Competitive Comparison of At Home Group's Beneish M-Score
For the Specialty Retail subindustry, At Home 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.
At Home Group's Beneish M-Score Distribution in the Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, At Home Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where At Home Group's Beneish M-Score falls into.
At Home 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 At Home 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 * 1 | + | 0.528 * 0.672 | + | 0.404 * 2.1699 | + | 0.892 * 1.6693 | + | 0.115 * 1.0281 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8011 | + | 4.679 * -0.108918 | - | 0.327 * 0.8758 |
| = | -2.02 |
* 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 (Apr21) TTM: | Last Year (Apr20) TTM: |
Total Receivables was $0 Mil.
Revenue was 537.078 + 561.987 + 469.986 + 515.244 = $2,084 Mil.
Gross Profit was 200.275 + 218.428 + 170.708 + 196.127 = $786 Mil.
Total Current Assets was $551 Mil.
Total Assets was $2,586 Mil.
Property, Plant and Equipment(Net PPE) was $2,026 Mil.
Depreciation, Depletion and Amortization(DDA) was $72 Mil.
Selling, General, & Admin. Expense(SGA) was $390 Mil.
Total Current Liabilities was $385 Mil.
Long-Term Debt & Capital Lease Obligation was $1,646 Mil.
Net Income was 56.323 + 72.713 + 47.077 + 89.423 = $266 Mil.
Non Operating Income was -5.253 + 0 + -3.179 + -0.115 = $-9 Mil.
Cash Flow from Operations was 77.78 + 113.338 + 74.938 + 289.663 = $556 Mil.
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Total Receivables was $0 Mil.
Revenue was 189.846 + 397.716 + 318.734 + 342.321 = $1,249 Mil.
Gross Profit was 16.35 + 114.09 + 85.413 + 100.398 = $316 Mil.
Total Current Assets was $512 Mil.
Total Assets was $2,468 Mil.
Property, Plant and Equipment(Net PPE) was $1,953 Mil.
Depreciation, Depletion and Amortization(DDA) was $71 Mil.
Selling, General, & Admin. Expense(SGA) was $292 Mil.
Total Current Liabilities was $622 Mil.
Long-Term Debt & Capital Lease Obligation was $1,592 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) |
| = | (0 / 2084.295) | / | (0 / 1248.617) |
| = | 0 | / | 0 |
| | = | 1 |
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) |
| = | (316.251 / 1248.617) | / | (785.538 / 2084.295) |
| = | 0.253281 | / | 0.376884 |
| | = | 0.672 |
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 - (551.193 + 2026.291) / 2585.771) | / | (1 - (511.727 + 1952.99) / 2468.362) |
| = | 0.003205 | / | 0.001477 |
| | = | 2.1699 |
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 |
| = | 2084.295 | / | 1248.617 |
| | = | 1.6693 |
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)) |
| = | (71.036 / (71.036 + 1952.99)) | / | (71.616 / (71.616 + 2026.291)) |
| = | 0.035096 | / | 0.034137 |
| | = | 1.0281 |
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) |
| = | (390.273 / 2084.295) | / | (291.837 / 1248.617) |
| = | 0.187245 | / | 0.233728 |
| | = | 0.8011 |
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) |
| = | ((1646.133 + 384.536) / 2585.771) | / | ((1591.604 + 621.693) / 2468.362) |
| = | 0.785324 | / | 0.896666 |
| | = | 0.8758 |
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 |
| = | (265.536 - -8.547 | - | 555.719) | / | 2585.771 |
| | = | -0.108918 |
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.
At Home Group has a M-score of -2.02 suggests that the company is unlikely to be a manipulator.
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