Omnicom Group Beneish M-Score Historical Data
The historical data trend for Omnicom 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.
Omnicom Group Beneish M-Score Chart
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Omnicom Group Annual Data
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Dec14 |
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Dec23 |
| Beneish M-Score |
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-2.37 |
-2.55 |
-2.55 |
-2.42 |
-2.43 |
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Omnicom Group Quarterly Data
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Jun19 |
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Mar24 |
| Beneish M-Score |
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-2.39 |
-2.31 |
-2.23 |
-2.43 |
-2.36 |
Competitive Comparison of Omnicom Group's Beneish M-Score
For the Advertising Agencies subindustry, Omnicom 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.
Omnicom Group's Beneish M-Score Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Omnicom Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Omnicom Group's Beneish M-Score falls into.
Omnicom 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 Omnicom 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 * 1.0775 | + | 0.528 * 0.974 | + | 0.404 * 1.0275 | + | 0.892 * 1.0389 | + | 0.115 * 0.9685 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0113 | + | 4.679 * 0.003058 | - | 0.327 * 0.9863 |
| = | -2.36 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was $7,906 Mil.
Revenue was 3630.5 + 4060.9 + 3578.1 + 3609.9 = $14,879 Mil.
Gross Profit was 623.8 + 816 + 703 + 700.9 = $2,844 Mil.
Total Current Assets was $13,866 Mil.
Total Assets was $27,276 Mil.
Property, Plant and Equipment(Net PPE) was $1,881 Mil.
Depreciation, Depletion and Amortization(DDA) was $217 Mil.
Selling, General, & Admin. Expense(SGA) was $390 Mil.
Total Current Liabilities was $14,954 Mil.
Long-Term Debt & Capital Lease Obligation was $6,328 Mil.
Net Income was 318.6 + 337.6 + 371.9 + 366.3 = $1,394 Mil.
Non Operating Income was 0 + -14.5 + 0 + 0 = $-15 Mil.
Cash Flow from Operations was -618.5 + 1801 + 405.5 + -262.5 = $1,326 Mil.
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Total Receivables was $7,062 Mil.
Revenue was 3443.3 + 3868.2 + 3443.4 + 3567.2 = $14,322 Mil.
Gross Profit was 489.6 + 781.8 + 686.3 + 708.2 = $2,666 Mil.
Total Current Assets was $12,895 Mil.
Total Assets was $25,238 Mil.
Property, Plant and Equipment(Net PPE) was $1,961 Mil.
Depreciation, Depletion and Amortization(DDA) was $218 Mil.
Selling, General, & Admin. Expense(SGA) was $371 Mil.
Total Current Liabilities was $13,465 Mil.
Long-Term Debt & Capital Lease Obligation was $6,500 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) |
| = | (7905.8 / 14879.4) | / | (7062.2 / 14322.1) |
| = | 0.531325 | / | 0.493098 |
| | = | 1.0775 |
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) |
| = | (2665.9 / 14322.1) | / | (2843.7 / 14879.4) |
| = | 0.186139 | / | 0.191117 |
| | = | 0.974 |
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 - (13866.3 + 1881.3) / 27275.6) | / | (1 - (12895.2 + 1961.2) / 25237.6) |
| = | 0.422649 | / | 0.411339 |
| | = | 1.0275 |
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 |
| = | 14879.4 | / | 14322.1 |
| | = | 1.0389 |
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)) |
| = | (218.1 / (218.1 + 1961.2)) | / | (216.8 / (216.8 + 1881.3)) |
| = | 0.100078 | / | 0.103332 |
| | = | 0.9685 |
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) |
| = | (389.8 / 14879.4) | / | (371 / 14322.1) |
| = | 0.026197 | / | 0.025904 |
| | = | 1.0113 |
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) |
| = | ((6328.2 + 14953.8) / 27275.6) | / | ((6500.1 + 13465.1) / 25237.6) |
| = | 0.780258 | / | 0.791089 |
| | = | 0.9863 |
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 |
| = | (1394.4 - -14.5 | - | 1325.5) | / | 27275.6 |
| | = | 0.003058 |
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.
Omnicom Group has a M-score of -2.36 suggests that the company is unlikely to be a manipulator.
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