American Leisure Holdings (American Leisure Holdings) Beneish M-Score : 0.00 (As of Jun. 14, 2024)

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What is American Leisure Holdings Beneish M-Score?

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 American Leisure Holdings's Beneish M-Score or its related term are showing as below:

During the past 6 years, the highest Beneish M-Score of American Leisure Holdings was 0.00. The lowest was 0.00. And the median was 0.00.

American Leisure Holdings Beneish M-Score Historical Data

The historical data trend for American Leisure Holdings'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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American Leisure Holdings Beneish M-Score Chart

American Leisure Holdings Annual Data

Trend

Dec01

Dec02

Dec03

Dec04

Dec05

Dec06

Beneish M-Score

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120.42

-1.69

-0.27

-1.81

American Leisure Holdings Semi-Annual Data
	Dec01	Dec02	Dec03	Dec04	Dec05	Dec06
Beneish M-Score	Get a 7-Day Free Trial			-	120.42	-1.69	-0.27	-1.81

Competitive Comparison of American Leisure Holdings's Beneish M-Score

For the Shell Companies subindustry, American Leisure Holdings'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.

American Leisure Holdings's Beneish M-Score Distribution in the Diversified Financial Services Industry

For the Diversified Financial Services industry and Financial Services sector, American Leisure Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where American Leisure Holdings's Beneish M-Score falls into.

American Leisure Holdings 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 American Leisure Holdings 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 * 0.2768

0.528 * 1.6316

0.404 * 0.6642

0.892 * 1.4016

0.115 * 1.9172

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.5121

4.679 * 0.242494

0.327 * 1.2378

-1.34

This Year (Dec06) TTM:

Last Year (Dec05) TTM:

Total Receivables was $3.37 Mil.
Revenue was $27.72 Mil.
Gross Profit was $5.28 Mil.
Total Current Assets was $7.28 Mil.
Total Assets was $120.14 Mil.
Property, Plant and Equipment(Net PPE) was $81.10 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.44 Mil.
Selling, General, & Admin. Expense(SGA) was $3.61 Mil.
Total Current Liabilities was $56.63 Mil.
Long-Term Debt & Capital Lease Obligation was $24.94 Mil.
Net Income was $-8.15 Mil.
Gross Profit was $-6.59 Mil.
Cash Flow from Operations was $-30.69 Mil.

Total Receivables was $8.68 Mil.
Revenue was $19.78 Mil.
Gross Profit was $6.14 Mil.
Total Current Assets was $11.16 Mil.
Total Assets was $99.47 Mil.
Property, Plant and Equipment(Net PPE) was $48.72 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.68 Mil.
Selling, General, & Admin. Expense(SGA) was $5.03 Mil.
Total Current Liabilities was $12.77 Mil.
Long-Term Debt & Capital Lease Obligation was $41.78 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)
	=	(3.366 / 27.72)	/	(8.676 / 19.778)
	=	0.121429	/	0.438669
	=	0.2768

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)
	=	(6.142 / 19.778)	/	(5.276 / 27.72)
	=	0.310547	/	0.190332
	=	1.6316

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 - (7.282 + 81.101) / 120.143)	/	(1 - (11.157 + 48.721) / 99.466)
	=	0.264352	/	0.398005
	=	0.6642

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
	=	27.72	/	19.778
	=	1.4016

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))
	=	(1.68 / (1.68 + 48.721))	/	(1.435 / (1.435 + 81.101))
	=	0.033333	/	0.017386
	=	1.9172

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)
	=	(3.609 / 27.72)	/	(5.028 / 19.778)
	=	0.130195	/	0.254222
	=	0.5121

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)
	=	((24.936 + 56.632) / 120.143)	/	((41.783 + 12.772) / 99.466)
	=	0.678924	/	0.548479
	=	1.2378

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
	=	(-8.149 - -6.589	-	-30.694)	/	120.143
	=	0.242494

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.

American Leisure Holdings has a M-score of -1.34 signals that the company is likely to be a manipulator.

American Leisure Holdings Beneish M-Score Related Terms

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