SELECT id, `name`, primary_key, `key`, treemapgroup, name_cn, zacks_table_name, compare_key, compare_display_name from gurufocu_main.financial_definition where termpagedisplay=1 and `key` = 'mscore' SKY (Skyline Champion) Beneish M-Score
GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Homebuilding & Construction » Skyline Champion Corp (NYSE:SKY) » Definitions » Beneish M-Score

Skyline Champion (Skyline Champion) Beneish M-Score

: -2.18 (As of Today)
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The zones of discrimination for M-Score is as such:

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.

Good Sign:

Beneish M-Score -2.18 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Skyline Champion's Beneish M-Score or its related term are showing as below:

SKY' s Beneish M-Score Range Over the Past 10 Years
Min: -3.57   Med: -2.55   Max: 1.94
Current: -2.18

During the past 13 years, the highest Beneish M-Score of Skyline Champion was 1.94. The lowest was -3.57. And the median was -2.55.

Skyline Champion Beneish M-Score Historical Data

The historical data trend for Skyline Champion'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.

* Premium members only.

Skyline Champion Annual Data
Trend May14 May15 May16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23
Beneish M-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.94 -2.81 -2.62 -2.05 -2.70

Skyline Champion 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.44 -2.70 -3.30 -2.58 -2.18
Competitive Comparison

For the Residential Construction subindustry, Skyline Champion'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.

Skyline Champion Beneish M-Score Distribution

For the Homebuilding & Construction industry and Consumer Cyclical sector, Skyline Champion's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Skyline Champion's Beneish M-Score falls into.


Skyline Champion 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 Skyline Champion 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 * 1.424+0.528 * 1.1817+0.404 * 1.6892+0.892 * 0.7192+0.115 * 1.3193
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.3415+4.679 * -0.035478-0.327 * 1.0792
=-2.18

* 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 $49 Mil.
Revenue was 559.455 + 464.236 + 464.769 + 491.532 = $1,980 Mil.
Gross Profit was 141.272 + 116.489 + 129.673 + 141.151 = $529 Mil.
Total Current Assets was $870 Mil.
Total Assets was $1,869 Mil.
Property, Plant and Equipment(Net PPE) was $288 Mil.
Depreciation, Depletion and Amortization(DDA) was $31 Mil.
Selling, General, & Admin. Expense(SGA) was $292 Mil.
Total Current Liabilities was $339 Mil.
Long-Term Debt & Capital Lease Obligation was $25 Mil.
Net Income was 46.97 + 45.669 + 51.269 + 57.746 = $202 Mil.
Non Operating Income was -0.756 + -2.065 + 0 + 0 = $-3 Mil.
Cash Flow from Operations was 89.479 + 54.281 + 74.857 + 52.181 = $271 Mil.
 Total Receivables was $48 Mil.
Revenue was 582.322 + 806.825 + 725.881 + 638.117 = $2,753 Mil.
Gross Profit was 174.089 + 274.106 + 229.335 + 191.027 = $869 Mil.
Total Current Assets was $1,005 Mil.
Total Assets was $1,512 Mil.
Property, Plant and Equipment(Net PPE) was $166 Mil.
Depreciation, Depletion and Amortization(DDA) was $25 Mil.
Selling, General, & Admin. Expense(SGA) was $303 Mil.
Total Current Liabilities was $260 Mil.
Long-Term Debt & Capital Lease Obligation was $12 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)
=(48.659 / 1979.992) / (47.515 / 2753.145)
=0.024575 / 0.017258
=1.424

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)
=(868.557 / 2753.145) / (528.585 / 1979.992)
=0.315478 / 0.266963
=1.1817

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 - (870.165 + 287.708) / 1869.419) / (1 - (1005.206 + 165.857) / 1511.687)
=0.380624 / 0.225327
=1.6892

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
=1979.992 / 2753.145
=0.7192

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))
=(24.744 / (24.744 + 165.857)) / (31.402 / (31.402 + 287.708))
=0.129821 / 0.098405
=1.3193

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)
=(292.363 / 1979.992) / (303.047 / 2753.145)
=0.147659 / 0.110073
=1.3415

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)
=((24.663 + 339.297) / 1869.419) / ((12.43 + 260.283) / 1511.687)
=0.194692 / 0.180403
=1.0792

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
=(201.654 - -2.821 - 270.798) / 1869.419
=-0.035478

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.

Skyline Champion has a M-score of -2.18 suggests that the company is unlikely to be a manipulator.

Skyline Champion Beneish M-Score Related Terms

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Skyline Champion (Skyline Champion) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Homebuilding & Construction » Skyline Champion Corp (NYSE:SKY) » Definitions » Beneish M-Score
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Traded in Other Exchanges
N/A
Address
755 West Big Beaver Road, Suite 1000, Troy, MI, USA, 48084
Website
https://www.skylinechampion.com
Skyline Champion Corp is a factory-built housing company in North America. The company offers a portfolio of manufactured and modular homes, park model RVs, accessory dwelling units and modular buildings for the multi-family, hospitality, senior and workforce housing sectors. It designs and builds a range of manufactured and modular homes, park model RVs, ADUs, and commercial structures. It builds homes under brand names in the factory-built housing industry including Skyline Homes, Champion Home Builders, Genesis Homes, Athens Park Models, Dutch Housing, Excel Homes, Homes of Merit, New Era, Redman Homes, ScotBilt Homes, Shore Park, Silvercrest, and Titan Homes in the U.S., and Moduline and SRI Homes in western Canada. It generates maximum revenue from U.S. Factory-built Housing segment.
Executives
Keith A Anderson officer: Chief Executive Officer C/O CHAMPION ENTERPRISES HOLDINGS LLC, 755 W BIG BEAVER RD, #1000, TROY MI 48084
Heath Jenkins officer: President, Retail Operations 755 W BIG BEAVER ROAD, SUITE 1000, TROY MI 48084
Timothy A. Burkhardt officer: Vice President and Controller C/O CHAMPION ENTERPRISES HOLDINGS LLC, 755 W BIG BEAVER RD, #1000, TROY MI 48084
Tawn Kelley director 4900 N. SCOTTSDALE ROAD, SUITE 2000, SCOTTSDALE AZ 85251
Joseph A. Kimmell officer: EVP C/O SKYLINE CHAMPION CORPORATION, 755 WEST BIG BEAVER ROAD, SUITE 1000, TROY MI 48084
Mark J. Yost officer: Executive Vice President C/O CHAMPION ENTERPRISES HOLDINGS LLC, 755 W BIG BEAVER RD, #1000, TROY MI 48084
Michael B Berman director C/O GENERAL GROWTH PROPERTIES, 110 NORTH WACKER DRIVE, CHICAGO IL 60606
Gary E Robinette director 5020 WESTON PARKWAY, SUITE 400, CARY NC 27513
Nikul Patel director 11115 RUSHMORE DR, CHARLOTTE NC 28277-3442
Jonathan Wade Lyall officer: Executive Vice President C/O SKYLINE CHAMPION CORPORATION, 755 WEST BIG BEAVER ROAD, SUITE 1000, TROY MI 48084
Laurie M. Hough officer: EVP, CFO, Treasurer C/O CHAMPION ENTERPRISES HOLDINGS LLC, 755 W BIG BEAVER RD, #1000, TROY MI 48084
Timothy Mark Larson officer: Chief Growth Officer C/O SKYLINE CHAMPION CORPORATION, 755 W. BIG BEAVER RD., SUITE 1000, TROY MI 48084
Mak Capital One Llc 10 percent owner 590 MADISON AVENUE, 31ST FLOOR, NEW YORK NY 10022
Erin Mulligan Nelson director C/O SKYLINE CHAMPION CORPORATION, 755 WEST BIG BEAVER ROAD, SUITE 1000, TROY MI 48084
Eddie Capel director 2300 WINDY RIDGE PARKWAY, SUITE 1000, ATLANTA GA 30339