Homeinns Hotel Group Beneish M-Score Historical Data
The historical data trend for Homeinns Hotel 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.
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Homeinns Hotel Group Annual Data
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Trend |
Dec06 |
Dec07 |
Dec08 |
Dec09 |
Dec10 |
Dec11 |
Dec12 |
Dec13 |
Dec14 |
Dec15 |
| Beneish M-Score |
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- |
-1.95 |
-2.97 |
-2.98 |
- |
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Homeinns Hotel Group Quarterly Data
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Mar11 |
Jun11 |
Sep11 |
Dec11 |
Mar12 |
Jun12 |
Sep12 |
Dec12 |
Mar13 |
Jun13 |
Sep13 |
Dec13 |
Mar14 |
Jun14 |
Sep14 |
Dec14 |
Mar15 |
Jun15 |
Sep15 |
Dec15 |
| Beneish M-Score |
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-2.98 |
- |
- |
- |
- |
Competitive Comparison
For the Lodging subindustry, Homeinns Hotel 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.
Homeinns Hotel Group Beneish M-Score Distribution
For the Travel & Leisure industry and Consumer Cyclical sector, Homeinns Hotel Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Homeinns Hotel Group's Beneish M-Score falls into.
Homeinns Hotel 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 Homeinns Hotel 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 * 0.8054 | + | 0.528 * 0.9412 | + | 0.404 * 1.0596 | + | 0.892 * 1.0326 | + | 0.115 * 0.9292 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9469 | + | 4.679 * -0.10374 | - | 0.327 * 0.7926 |
| = | -3.05 |
* 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 (Dec14) TTM: | Last Year (Dec13) TTM: |
Total Receivables was $19.9 Mil.
Revenue was $1,013.4 Mil.
Gross Profit was $169.2 Mil.
Total Current Assets was $227.4 Mil.
Total Assets was $1,518.1 Mil.
Property, Plant and Equipment(Net PPE) was $646.4 Mil.
Depreciation, Depletion and Amortization(DDA) was $124.4 Mil.
Selling, General, & Admin. Expense(SGA) was $68.2 Mil.
Total Current Liabilities was $450.1 Mil.
Long-Term Debt & Capital Lease Obligation was $53.5 Mil.
Net Income was $82.9 Mil.
Gross Profit was $23.0 Mil.
Cash Flow from Operations was $217.4 Mil.
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Total Receivables was $24.0 Mil.
Revenue was $981.5 Mil.
Gross Profit was $154.3 Mil.
Total Current Assets was $285.9 Mil.
Total Assets was $1,589.2 Mil.
Property, Plant and Equipment(Net PPE) was $666.7 Mil.
Depreciation, Depletion and Amortization(DDA) was $117.6 Mil.
Selling, General, & Admin. Expense(SGA) was $69.7 Mil.
Total Current Liabilities was $301.6 Mil.
Long-Term Debt & Capital Lease Obligation was $363.6 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) |
| = | (19.941 / 1013.417) | / | (23.978 / 981.453) |
| = | 0.019677 | / | 0.024431 |
| | = | 0.8054 |
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) |
| = | (154.25 / 981.453) | / | (169.226 / 1013.417) |
| = | 0.157165 | / | 0.166986 |
| | = | 0.9412 |
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 - (227.39 + 646.356) / 1518.065) | / | (1 - (285.949 + 666.689) / 1589.233) |
| = | 0.424434 | / | 0.400567 |
| | = | 1.0596 |
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 |
| = | 1013.417 | / | 981.453 |
| | = | 1.0326 |
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)) |
| = | (117.633 / (117.633 + 666.689)) | / | (124.408 / (124.408 + 646.356)) |
| = | 0.14998 | / | 0.161409 |
| | = | 0.9292 |
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) |
| = | (68.161 / 1013.417) | / | (69.712 / 981.453) |
| = | 0.067259 | / | 0.071029 |
| | = | 0.9469 |
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) |
| = | ((53.531 + 450.056) / 1518.065) | / | ((363.571 + 301.617) / 1589.233) |
| = | 0.33173 | / | 0.418559 |
| | = | 0.7926 |
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 |
| = | (82.913 - 23.028 | - | 217.369) | / | 1518.065 |
| | = | -0.10374 |
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.
Homeinns Hotel Group has a M-score of -3.05 suggests that the company is unlikely to be a manipulator.
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