Books-A-Million Beneish M-Score Historical Data
The historical data trend for Books-A-Million'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.
Books-A-Million Beneish M-Score Chart
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Books-A-Million Annual Data
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| Beneish M-Score |
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-2.85 |
-3.16 |
-2.77 |
-2.45 |
-2.83 |
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Books-A-Million Quarterly Data
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| Beneish M-Score |
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-3.24 |
-2.83 |
-2.97 |
-2.69 |
-3.02 |
Competitive Comparison of Books-A-Million's Beneish M-Score
For the Specialty Retail subindustry, Books-A-Million'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.
Books-A-Million's Beneish M-Score Distribution in the Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Books-A-Million's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Books-A-Million's Beneish M-Score falls into.
Books-A-Million 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 Books-A-Million 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 * 0.6249 | + | 0.528 * 0.9709 | + | 0.404 * 1.1074 | + | 0.892 * 1.0021 | + | 0.115 * 1.1385 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0253 | + | 4.679 * -0.052389 | - | 0.327 * 1.007 |
| = | -3.03 |
* 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.
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) |
| = | (2.498 / 472.177) | / | (3.989 / 471.168) |
| = | 0.00529 | / | 0.008466 |
| | = | 0.6249 |
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) |
| = | (136.502 / 471.168) | / | (140.892 / 472.177) |
| = | 0.28971 | / | 0.298388 |
| | = | 0.9709 |
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 - (244.635 + 79.764) / 331.31) | / | (1 - (237.296 + 83.504) / 326.959) |
| = | 0.02086 | / | 0.018837 |
| | = | 1.1074 |
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 |
| = | 472.177 | / | 471.168 |
| | = | 1.0021 |
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)) |
| = | (18.126 / (18.126 + 83.504)) | / | (14.817 / (14.817 + 79.764)) |
| = | 0.178353 | / | 0.156659 |
| | = | 1.1385 |
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) |
| = | (122.621 / 472.177) | / | (119.338 / 471.168) |
| = | 0.259693 | / | 0.253281 |
| | = | 1.0253 |
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) |
| = | ((33.402 + 196.722) / 331.31) | / | ((25.791 + 199.743) / 326.959) |
| = | 0.694588 | / | 0.689793 |
| | = | 1.007 |
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 |
| = | (0.816 - 0 | - | 18.173) | / | 331.31 |
| | = | -0.052389 |
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.
Books-A-Million has a M-score of -3.03 suggests that the company is unlikely to be a manipulator.
Books-A-Million (Books-A-Million) Business Description
Traded in Other Exchanges
N/A
Address
Books-A-Million Inc was founded in 1917, originally incorporated under the laws of the State of Alabama in 1964 and reincorporated in Delaware in September 1992. The Company is a book retailer located in the eastern United States and operates both superstores and traditional bookstores. The Company operates both superstores and traditional bookstores. The first Superstore was opened in 1987 and operates under the names Books-A-Million and Books and Co. and 2nd & Charles. Traditional bookstores are smaller stores operated under the names Bookland, Books-A-Million and BAM. All store formats generally offer a selection of sellers and other hardcover and paperback books, magazines, toys, games, electronics and gifts. In addition to these retail store formats, it offers its products over the internet at Booksamillion.com. Its retail operations also include the operation of Yogurt Mountain Holding, LLC, a retailer and franchisor of self-serve frozen yogurt stores. It also develops and manages commercial real estate investments through its subsidiary, Preferred Growth Properties, LLC. The Company operates in three reportable operating segments: Retail trade; Electronic commerce trade; and Real estate development and management. In the retail trade segment, it is engaged in the retail sale of books, magazines and general merchandise, including gifts, cards, games, toys, collectibles, music, DVDs, electronic devices and accessories in its retail stores. In the electronic commerce trade segment, it is engaged in the retail sale of books and general merchandise over the internet. The real estate development and management segment is managed separately from the retail trade and electronic commerce trade segments, with a focus on deriving revenues through developing and leasing commercial retail real estate for purposes of earning rental income. The Company promotes its bookstores through the use of traditional direct mail, e-mail and online advertising, as well as point-of-sale materials posted and distributed in its stores. The retail book business is competitive. The Company faces direct competition from other superstores, such as Barnes & Noble, and it also faces competition from mass merchandisers, such as Wal-Mart and Costco, and online retailers, such as Amazon.com, Barnes & Noble and Wal-Mart. Its bookstores also compete with specialty retail stores that offer books in particular subject areas, independent single store operators, variety discounters, drugstores, warehouse clubs, mail order clubs and other retailers offering books. In addition, its bookstores face additional competition from the market for electronic books and may face competition from other categories of retailers entering the retail book market. The Company is subject to general business regulations and laws, as well as regulations and laws specifically governing the Internet and e-commerce.
Executives
| Joel R Anderson |
other: See Remarks Below |
202 NORTH COURT STREET, FLORENCE AL 35630 |
| Ronald James Domanico |
director |
3100 JOE JERKINS BLVD, AUSTELL GA 30106 |
| Terrance G Finley |
officer: CEO & President, other: See Remarks Below |
402 INDUSTRIAL LANE, C/O BOOKS A MILLION, BIRMINGHAM AL 35211 |
| Clyde B Anderson |
director, 10 percent owner, officer: Executive Chairman, other: See Remarks Below |
BOOKS A MILLION INC, 402INDUSTRIAL LANE, BIRMING AL 35211 |
| Albert C Johnson |
director |
3172 CROSSINGS DRIVE, BIRMINGHAM AL 35242 |
| Rogers William H Jr |
director |
214 N TRYON STREET, CHARLOTTE NC 28202 |
| Sandra B Cochran |
director, officer: PRESIDENT & CEO, other: SEE REMARKS BELOW |
305 HARTMANN DRIVE, LEBANON TN 37087 |
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