Westbury Bancorp (Westbury Bancorp) Beneish M-Score : 0.00 (As of May. 27, 2024)

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What is Westbury Bancorp Beneish M-Score?

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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.

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

During the past 12 years, the highest Beneish M-Score of Westbury Bancorp was 0.00. The lowest was 0.00. And the median was 0.00.

Westbury Bancorp 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 Westbury Bancorp for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.8583

0.528 * 1

0.404 * 1.0033

0.892 * 1.1111

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.8931

4.679 * 0.010337

0.327 * 0.2234

-1.27

* 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 (Sep21) TTM:

Last Year (Sep20) TTM:

Total Receivables was $1.91 Mil.
Revenue was 9.056 + 9.041 + 8.949 + 10.175 = $37.22 Mil.
Gross Profit was 9.056 + 9.041 + 8.949 + 10.175 = $37.22 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $921.79 Mil.
Property, Plant and Equipment(Net PPE) was $19.80 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $15.82 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $5.00 Mil.
Net Income was 2.273 + 2.13 + 2.425 + 2.701 = $9.53 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was 0 + 0 + 0 + 0 = $0.00 Mil.

Total Receivables was $0.93 Mil.
Revenue was 9.043 + 8.324 + 8.12 + 8.013 = $33.50 Mil.
Gross Profit was 9.043 + 8.324 + 8.12 + 8.013 = $33.50 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $887.29 Mil.
Property, Plant and Equipment(Net PPE) was $21.92 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $15.94 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $21.54 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)
	=	(1.914 / 37.221)	/	(0.927 / 33.5)
	=	0.051423	/	0.027672
	=	1.8583

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)
	=	(33.5 / 33.5)	/	(37.221 / 37.221)
	=	1	/	1
	=	1

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 - (0 + 19.799) / 921.791)	/	(1 - (0 + 21.922) / 887.285)
	=	0.978521	/	0.975293
	=	1.0033

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
	=	37.221	/	33.5
	=	1.1111

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))
	=	(0 / (0 + 21.922))	/	(0 / (0 + 19.799))
	=	0	/	0
	=	1

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)
	=	(15.816 / 37.221)	/	(15.939 / 33.5)
	=	0.424921	/	0.475791
	=	0.8931

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)
	=	((5 + 0) / 921.791)	/	((21.54 + 0) / 887.285)
	=	0.005424	/	0.024276
	=	0.2234

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
	=	(9.529 - 0	-	0)	/	921.791
	=	0.010337

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.

Westbury Bancorp has a M-score of -1.27 signals that the company is likely to be a manipulator.

Westbury Bancorp Beneish M-Score Related Terms

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Westbury Bancorp (Westbury Bancorp) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Westbury Bancorp Inc (OTCPK:WBBW) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

N16W23250 Stone Ridge Drive, Suite 5, Waukesha, WI, USA, 53188

Website

http://www.westburybankwi.com

Westbury Bancorp Inc is the savings and loan holding company for Westbury Bank. It provides a variety of financial services to individuals and small businesses throughout Southeastern Wisconsin. Its principal business consists of attracting retail deposits from the general public and investing those deposits, together with funds generated from operations, and borrowings, in commercial and multifamily real estate loans, and commercial business loans. The bank's primary deposit products are checking, savings, money market and term certificate accounts and its primary lending products are consumers, commercial and residential mortgage loans.

Executives

Martin S. Friedman	10 percent owner, other: (See Remarks below)	7901 JONES BRANCH DR. SUITE 210, MCLEAN VA 22102
Michael C Holland	officer: SVP/Chief Compliance Officer	200 SOUTH MAIN STREET WEST BEND WI 53095
Steven L. Ritt	officer: Senior VP & General Counsel	200 SOUTH MAIN STREET C/O WESTBURY BANCORP, INC. WEST BEND WI 53095
Donald J. Murn	director	200 SOUTH MAIN STREET C/O WESTBURY BANCORP, INC. WEST BEND WI 53095
Stephen Sinner	director, officer: Chief Operating Officer	200 SOUTH MAIN STREET C/O WESTBURY BANCORP, INC. WEST BEND WI 53095
Rondi Rohr-dralle	director	200 SOUTH MAIN STREET WEST BEND WI 53095
Peter Emmett Lee	officer: EVP - Community Banking	200 SOUTH MAIN STREET WEST BEND WI 53095
Greg J Remus	director, officer: President and CEO	200 SOUTH MAIN STREET WEST BEND WI 53095
Glenn Stadler	officer: EVP/Chief Commercial Lending	200 SOUTH MAIN STREET WEST BEND WI 53095
Raymond F Lipman	director, officer: Chairman	200 SOUTH MAIN STREET WEST BEND WI 53095
James A Spella	director	200 SOUTH MAIN STREET WEST BEND WI 53095
Kirk J Emerich	officer: EVP and CFO	200 SOUTH MAIN STREET WEST BEND WI 53095
David G Jorgensen	director	200 SOUTH MAIN STREET WEST BEND WI 53095
Andrew J Gumm	director	200 SOUTH MAIN STREET WEST BEND WI 53095
William D Gehl	director	C/O GEHL COMPANY, 143 WATER STREET, WEST BEND WI 53095