Weis Markets Beneish M-Score Historical Data
The historical data trend for Weis Markets'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.
Weis Markets Beneish M-Score Chart
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Weis Markets Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-3.02 |
-2.90 |
-2.82 |
-2.68 |
-2.46 |
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Weis Markets Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
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-2.68 |
-2.56 |
-2.55 |
-2.26 |
-2.46 |
Competitive Comparison of Weis Markets's Beneish M-Score
For the Grocery Stores subindustry, Weis Markets'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.
Weis Markets's Beneish M-Score Distribution in the Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Weis Markets's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Weis Markets's Beneish M-Score falls into.
Weis Markets 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 Weis Markets 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 * 1.2795 | + | 0.528 * 1.0174 | + | 0.404 * 0.9706 | + | 0.892 * 1.0002 | + | 0.115 * 0.954 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9982 | + | 4.679 * -0.0526 | - | 0.327 * 0.9514 |
| = | -2.46 |
* 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 $65 Mil.
Revenue was 1212.975 + 1160.306 + 1178.695 + 1144.974 = $4,697 Mil.
Gross Profit was 291.383 + 285.723 + 299.045 + 285.789 = $1,162 Mil.
Total Current Assets was $832 Mil.
Total Assets was $2,040 Mil.
Property, Plant and Equipment(Net PPE) was $1,136 Mil.
Depreciation, Depletion and Amortization(DDA) was $108 Mil.
Selling, General, & Admin. Expense(SGA) was $976 Mil.
Total Current Liabilities was $341 Mil.
Long-Term Debt & Capital Lease Obligation was $142 Mil.
Net Income was 20.523 + 23.226 + 34.265 + 25.814 = $104 Mil.
Non Operating Income was 3.194 + 2.183 + 1.593 + 2.54 = $10 Mil.
Cash Flow from Operations was 158.477 + -37.305 + 72.486 + 7.944 = $202 Mil.
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Total Receivables was $51 Mil.
Revenue was 1306.09 + 1150.551 + 1135.234 + 1104.069 = $4,696 Mil.
Gross Profit was 308.372 + 287.643 + 292.214 + 293.685 = $1,182 Mil.
Total Current Assets was $741 Mil.
Total Assets was $1,959 Mil.
Property, Plant and Equipment(Net PPE) was $1,147 Mil.
Depreciation, Depletion and Amortization(DDA) was $104 Mil.
Selling, General, & Admin. Expense(SGA) was $977 Mil.
Total Current Liabilities was $345 Mil.
Long-Term Debt & Capital Lease Obligation was $142 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) |
| = | (65.092 / 4696.95) | / | (50.863 / 4695.944) |
| = | 0.013858 | / | 0.010831 |
| | = | 1.2795 |
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) |
| = | (1181.914 / 4695.944) | / | (1161.94 / 4696.95) |
| = | 0.251688 | / | 0.247382 |
| | = | 1.0174 |
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 - (832.214 + 1135.561) / 2039.632) | / | (1 - (741.17 + 1146.865) / 1959.15) |
| = | 0.03523 | / | 0.036299 |
| | = | 0.9706 |
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 |
| = | 4696.95 | / | 4695.944 |
| | = | 1.0002 |
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)) |
| = | (104.026 / (104.026 + 1146.865)) | / | (108.438 / (108.438 + 1135.561)) |
| = | 0.083162 | / | 0.087169 |
| | = | 0.954 |
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) |
| = | (975.654 / 4696.95) | / | (977.161 / 4695.944) |
| = | 0.207721 | / | 0.208086 |
| | = | 0.9982 |
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) |
| = | ((142.345 + 340.782) / 2039.632) | / | ((142.424 + 345.351) / 1959.15) |
| = | 0.23687 | / | 0.248973 |
| | = | 0.9514 |
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 |
| = | (103.828 - 9.51 | - | 201.602) | / | 2039.632 |
| | = | -0.0526 |
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.
Weis Markets has a M-score of -2.46 suggests that the company is unlikely to be a manipulator.
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