AMN Healthcare Services Beneish M-Score Historical Data
The historical data trend for AMN Healthcare Services'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.
AMN Healthcare Services Beneish M-Score Chart
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AMN Healthcare Services Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.75 |
-2.79 |
-1.60 |
-2.79 |
-2.92 |
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AMN Healthcare Services Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
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Sep20 |
Dec20 |
Mar21 |
Jun21 |
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Sep23 |
Dec23 |
| Beneish M-Score |
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-2.79 |
-2.85 |
-3.02 |
-3.15 |
-2.92 |
Competitive Comparison of AMN Healthcare Services's Beneish M-Score
For the Medical Care Facilities subindustry, AMN Healthcare Services'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.
AMN Healthcare Services's Beneish M-Score Distribution in the Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, AMN Healthcare Services's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where AMN Healthcare Services's Beneish M-Score falls into.
AMN Healthcare Services 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 AMN Healthcare Services 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 * 1.0837 | + | 0.528 * 0.9928 | + | 0.404 * 1.1257 | + | 0.892 * 0.7227 | + | 0.115 * 1.089 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1173 | + | 4.679 * -0.05522 | - | 0.327 * 1.1537 |
| = | -2.92 |
* 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 $747 Mil.
Revenue was 818.269 + 853.463 + 991.299 + 1126.223 = $3,789 Mil.
Gross Profit was 260.948 + 289.506 + 330.281 + 368.846 = $1,250 Mil.
Total Current Assets was $842 Mil.
Total Assets was $2,924 Mil.
Property, Plant and Equipment(Net PPE) was $226 Mil.
Depreciation, Depletion and Amortization(DDA) was $161 Mil.
Selling, General, & Admin. Expense(SGA) was $756 Mil.
Total Current Liabilities was $656 Mil.
Long-Term Debt & Capital Lease Obligation was $1,342 Mil.
Net Income was 12.489 + 53.174 + 60.906 + 84.11 = $211 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was -41.13 + 172.194 + 197.667 + 43.434 = $372 Mil.
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Total Receivables was $953 Mil.
Revenue was 1125.511 + 1138.586 + 1426.607 + 1552.538 = $5,243 Mil.
Gross Profit was 375.253 + 385.026 + 460.237 + 496.168 = $1,717 Mil.
Total Current Assets was $1,094 Mil.
Total Assets was $2,888 Mil.
Property, Plant and Equipment(Net PPE) was $166 Mil.
Depreciation, Depletion and Amortization(DDA) was $137 Mil.
Selling, General, & Admin. Expense(SGA) was $937 Mil.
Total Current Liabilities was $858 Mil.
Long-Term Debt & Capital Lease Obligation was $853 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) |
| = | (746.541 / 3789.254) | / | (953.251 / 5243.242) |
| = | 0.197015 | / | 0.181806 |
| | = | 1.0837 |
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) |
| = | (1716.684 / 5243.242) | / | (1249.581 / 3789.254) |
| = | 0.327409 | / | 0.32977 |
| | = | 0.9928 |
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 - (841.685 + 225.928) / 2924.394) | / | (1 - (1093.645 + 165.542) / 2888.351) |
| = | 0.634928 | / | 0.564046 |
| | = | 1.1257 |
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 |
| = | 3789.254 | / | 5243.242 |
| | = | 0.7227 |
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)) |
| = | (137.111 / (137.111 + 165.542)) | / | (160.927 / (160.927 + 225.928)) |
| = | 0.45303 | / | 0.415988 |
| | = | 1.089 |
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) |
| = | (756.238 / 3789.254) | / | (936.576 / 5243.242) |
| = | 0.199574 | / | 0.178625 |
| | = | 1.1173 |
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) |
| = | ((1342.291 + 656.121) / 2924.394) | / | ((852.865 + 857.933) / 2888.351) |
| = | 0.683359 | / | 0.59231 |
| | = | 1.1537 |
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 |
| = | (210.679 - 0 | - | 372.165) | / | 2924.394 |
| | = | -0.05522 |
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.
AMN Healthcare Services has a M-score of -2.92 suggests that the company is unlikely to be a manipulator.
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