Cross Country Healthcare Beneish M-Score Historical Data
The historical data trend for Cross Country Healthcare'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.
Cross Country Healthcare Beneish M-Score Chart
|
Cross Country Healthcare Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.96 |
-2.68 |
0.20 |
-1.68 |
-3.73 |
|
Cross Country Healthcare Quarterly Data
|
|
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-1.68 |
-2.54 |
-3.48 |
-3.29 |
-3.73 |
Competitive Comparison of Cross Country Healthcare's Beneish M-Score
For the Medical Care Facilities subindustry, Cross Country Healthcare'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.
Cross Country Healthcare's Beneish M-Score Distribution in the Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Cross Country Healthcare's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Cross Country Healthcare's Beneish M-Score falls into.
Cross Country Healthcare 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 Cross Country Healthcare 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 * 0.8177 | + | 0.528 * 1.0029 | + | 0.404 * 1.3112 | + | 0.892 * 0.7196 | + | 0.115 * 0.9322 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.2846 | + | 4.679 * -0.22844 | - | 0.327 * 0.4963 |
| = | -3.73 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $388 Mil.
Revenue was 414.035 + 442.291 + 540.695 + 622.707 = $2,020 Mil.
Gross Profit was 90.489 + 97.359 + 123.139 + 139.423 = $450 Mil.
Total Current Assets was $415 Mil.
Total Assets was $679 Mil.
Property, Plant and Equipment(Net PPE) was $30 Mil.
Depreciation, Depletion and Amortization(DDA) was $18 Mil.
Selling, General, & Admin. Expense(SGA) was $300 Mil.
Total Current Liabilities was $149 Mil.
Long-Term Debt & Capital Lease Obligation was $3 Mil.
Net Income was 9.038 + 12.812 + 21.345 + 29.436 = $73 Mil.
Non Operating Income was -4.897 + -3.023 + -6.314 + -6.45 = $-21 Mil.
Cash Flow from Operations was 12.074 + 70.311 + 119.248 + 46.865 = $248 Mil.
|
Total Receivables was $660 Mil.
Revenue was 628.218 + 636.098 + 753.561 + 788.732 = $2,807 Mil.
Gross Profit was 138.942 + 143.545 + 170.405 + 174.794 = $628 Mil.
Total Current Assets was $676 Mil.
Total Assets was $948 Mil.
Property, Plant and Equipment(Net PPE) was $23 Mil.
Depreciation, Depletion and Amortization(DDA) was $13 Mil.
Selling, General, & Admin. Expense(SGA) was $325 Mil.
Total Current Liabilities was $272 Mil.
Long-Term Debt & Capital Lease Obligation was $154 Mil.
|
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) |
| = | (388.347 / 2019.728) | / | (659.96 / 2806.609) |
| = | 0.192277 | / | 0.235145 |
| | = | 0.8177 |
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) |
| = | (627.686 / 2806.609) | / | (450.41 / 2019.728) |
| = | 0.223646 | / | 0.223005 |
| | = | 1.0029 |
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 - (415.153 + 29.938) / 679.317) | / | (1 - (675.673 + 22.927) / 947.839) |
| = | 0.344796 | / | 0.262955 |
| | = | 1.3112 |
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 |
| = | 2019.728 | / | 2806.609 |
| | = | 0.7196 |
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)) |
| = | (12.576 / (12.576 + 22.927)) | / | (18.347 / (18.347 + 29.938)) |
| = | 0.354224 | / | 0.379973 |
| | = | 0.9322 |
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) |
| = | (300.391 / 2019.728) | / | (324.935 / 2806.609) |
| = | 0.148728 | / | 0.115775 |
| | = | 1.2846 |
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) |
| = | ((2.663 + 148.587) / 679.317) | / | ((153.615 + 271.64) / 947.839) |
| = | 0.22265 | / | 0.448657 |
| | = | 0.4963 |
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 |
| = | (72.631 - -20.684 | - | 248.498) | / | 679.317 |
| | = | -0.22844 |
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.
Cross Country Healthcare has a M-score of -3.73 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
CCRN has been successfully added to your