Guess? Beneish M-Score Historical Data
The historical data trend for Guess?'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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Guess? Annual Data
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Trend |
Jan15 |
Jan16 |
Jan17 |
Jan18 |
Jan19 |
Jan20 |
Jan21 |
Jan22 |
Jan23 |
Jan24 |
| Beneish M-Score |
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-2.89 |
-2.79 |
-2.14 |
-2.38 |
-2.64 |
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Guess? Quarterly Data
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Apr19 |
Jul19 |
Oct19 |
Jan20 |
Apr20 |
Jul20 |
Oct20 |
Jan21 |
Apr21 |
Jul21 |
Oct21 |
Jan22 |
Apr22 |
Jul22 |
Oct22 |
Jan23 |
Apr23 |
Jul23 |
Oct23 |
Jan24 |
| Beneish M-Score |
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-2.38 |
-2.59 |
-2.51 |
-2.44 |
-2.64 |
Competitive Comparison
For the Apparel Retail subindustry, Guess?'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.
Guess? Beneish M-Score Distribution
For the Retail - Cyclical industry and Consumer Cyclical sector, Guess?'s Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Guess?'s Beneish M-Score falls into.
Guess? 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 Guess? 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 * 0.891 | + | 0.528 * 0.9708 | + | 0.404 * 1.252 | + | 0.892 * 1.0332 | + | 0.115 * 1.0415 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0337 | + | 4.679 * -0.04229 | - | 0.327 * 0.9435 |
| = | -2.64 |
* 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 (Jan24) TTM: | Last Year (Jan23) TTM: |
Total Receivables was $315 Mil.
Revenue was 891.05 + 651.17 + 664.512 + 569.798 = $2,777 Mil.
Gross Profit was 404.982 + 291.17 + 294.443 + 231.985 = $1,223 Mil.
Total Current Assets was $1,225 Mil.
Total Assets was $2,590 Mil.
Property, Plant and Equipment(Net PPE) was $914 Mil.
Depreciation, Depletion and Amortization(DDA) was $61 Mil.
Selling, General, & Admin. Expense(SGA) was $954 Mil.
Total Current Liabilities was $792 Mil.
Long-Term Debt & Capital Lease Obligation was $907 Mil.
Net Income was 115.27 + 55.701 + 39.033 + -11.805 = $198 Mil.
Non Operating Income was 7.671 + -13.278 + -4.783 + -12.261 = $-23 Mil.
Cash Flow from Operations was 289.5 + -6.392 + 59.931 + -12.658 = $330 Mil.
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Total Receivables was $342 Mil.
Revenue was 817.784 + 633.403 + 642.69 + 593.473 = $2,687 Mil.
Gross Profit was 361.726 + 269.371 + 270.501 + 247.149 = $1,149 Mil.
Total Current Assets was $1,212 Mil.
Total Assets was $2,425 Mil.
Property, Plant and Equipment(Net PPE) was $877 Mil.
Depreciation, Depletion and Amortization(DDA) was $61 Mil.
Selling, General, & Admin. Expense(SGA) was $893 Mil.
Total Current Liabilities was $763 Mil.
Long-Term Debt & Capital Lease Obligation was $923 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) |
| = | (314.769 / 2776.53) | / | (341.939 / 2687.35) |
| = | 0.113368 | / | 0.12724 |
| | = | 0.891 |
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) |
| = | (1148.747 / 2687.35) | / | (1222.58 / 2776.53) |
| = | 0.427465 | / | 0.440327 |
| | = | 0.9708 |
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 - (1225.473 + 913.679) / 2590.021) | / | (1 - (1211.705 + 876.503) / 2425.448) |
| = | 0.174079 | / | 0.139042 |
| | = | 1.252 |
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 |
| = | 2776.53 | / | 2687.35 |
| | = | 1.0332 |
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)) |
| = | (61.467 / (61.467 + 876.503)) | / | (61.349 / (61.349 + 913.679)) |
| = | 0.065532 | / | 0.06292 |
| | = | 1.0415 |
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) |
| = | (954.078 / 2776.53) | / | (893.297 / 2687.35) |
| = | 0.343622 | / | 0.332408 |
| | = | 1.0337 |
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) |
| = | ((907.319 + 791.557) / 2590.021) | / | ((923.088 + 763.052) / 2425.448) |
| = | 0.655931 | / | 0.695187 |
| | = | 0.9435 |
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 |
| = | (198.199 - -22.651 | - | 330.381) | / | 2590.021 |
| | = | -0.04229 |
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.
Guess? has a M-score of -2.64 suggests that the company is unlikely to be a manipulator.
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