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Home Federal Bancorp Inc (NAS:HOME)
Beneish M-Score
0.00 (As of Today)

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.

Home Federal Bancorp Inc has a M-score of signals that the company is a manipulator.

During the past 13 years, the highest Beneish M-Score of Home Federal Bancorp Inc was 0.00. The lowest was 0.00. And the median was 0.00.


Definition

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 Home Federal Bancorp 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

This Year (Mar14) TTM:Last Year (Mar13) TTM:
Accounts Receivable was $5.45 Mil.
Revenue was 8.657 + 11.201 + 10.522 + 10.897 = $41.28 Mil.
Gross Profit was 8.657 + 11.201 + 10.522 + 10.897 = $41.28 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $979.02 Mil.
Property, Plant and Equipment(Net PPE) was $25.31 Mil.
Depreciation, Depletion and Amortization(DDA) was $3.11 Mil.
Selling, General & Admin. Expense(SGA) was $30.08 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt was $0.00 Mil.
Net Income was 0.369 + -2.344 + 1.053 + 0.575 = $-0.35 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was -0.036 + 1.504 + 3.625 + 5.218 = $10.31 Mil.
Accounts Receivable was $12.39 Mil.
Revenue was 10.553 + 10.731 + 11.178 + 11.442 = $43.90 Mil.
Gross Profit was 10.553 + 10.731 + 11.178 + 11.442 = $43.90 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $1,050.78 Mil.
Property, Plant and Equipment(Net PPE) was $27.77 Mil.
Depreciation, Depletion and Amortization(DDA) was $3.50 Mil.
Selling, General & Admin. Expense(SGA) was $31.42 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt was $0.00 Mil.



1. DSRI = Days Sales in Receivables Index

Measured as the ratio of days’ sales in 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)
=(5.451 / 41.277) / (12.386 / 43.904)
=0.13205902 / 0.28211552
=

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)
=(11.201 / 43.904) / (8.657 / 41.277)
=1 / 1
=

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 plant, property and equipment to total assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (0 + 25.312) / 979.023) / (1 - (0 + 27.767) / 1050.783)
=0.97414565 / 0.97357494
=

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.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=41.277 / 43.904
=

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))
=(3.504 / (3.504 + 27.767)) / (3.109 / (3.109 + 25.312))
=0.1120527 / 0.10939094
=

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)
=(30.084 / 41.277) / (31.415 / 43.904)
=0.72883204 / 0.71553845
=

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)
=((0 + 0) / 979.023) / ((0 + 0) / 1050.783)
=0 / 0
=

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
=(-0.347 - 0 - 10.311) / 979.023
=-0.0109

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.

Home Federal Bancorp Inc has a M-score of signals that the company is likely to be a manipulator.


Related Terms

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


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Home Federal Bancorp Inc Annual Data

Sep04Sep05Sep06Sep07Sep08Sep09Sep10Sep11Dec12Dec13
DSRI 1.34671.02751.14780.9730.93751.037218.27780.4190.47510.5824
GMI 1111111111
AQI 1.00710.99731.00050.99870.99710.99621.0060.99091.00011.0019
SGI 0.94591.18491.07220.95271.01991.00011.32341.30070.78210.9677
DEPI 1.11621.13341.02370.96691.16751.29591.01450.85640.81070.9941
SGAI 1.00341.00171.08981.02471.22231.09311.00811.02321.07280.9905
LVGI 0.6571.46851.33820.91950.74960.54350.43970.09111.09580
TATA -0.0033-0.0067-0.0023-0.0034-0.0081-0.004-0.0038-0.0173-0.0095-0.0129
M-score -2.10-2.46-2.41-2.55-2.50-2.3013.87-2.55-3.27-2.62

Home Federal Bancorp Inc Quarterly Data

Dec11Mar12Jun12Sep12Dec12Mar13Jun13Sep13Dec13Mar14
DSRI 0.32690.31770.44680.57070.63450.63060.53190.57340.5824
GMI 111111111
AQI 0.9920.99320.99820.99981.00051.00141.00131.00191.0019
SGI 1.12010.93980.78410.81660.80920.84820.90130.91670.9677
DEPI 0.90310.89380.81060.81260.8620.91080.94680.98580.9941
SGAI 1.01321.04371.12961.02571.08711.06921.01141.04640.9905
LVGI 0.10060.10580.10511.081.03480000
TATA -0.0227-0.0182-0.0116-0.0105-0.0095-0.0134-0.0167-0.0138-0.0129
M-score -2.82-2.98-2.99-3.14-3.07-2.71-2.76-2.69-2.62
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