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Academy Sports and Outdoors (NAS:ASO) Beneish M-Score

: -2.05 (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 -2.05 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

ASO' s Beneish M-Score Range Over the Past 10 Years
Min: -2.92   Med: -2.42   Max: -2.05
Current: -2.05

During the past 5 years, the highest Beneish M-Score of Academy Sports and Outdoors was -2.05. The lowest was -2.92. And the median was -2.42.


Academy Sports and Outdoors (NAS:ASO) Beneish M-Score Historical Data

The historical data trend for Academy Sports and Outdoors'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.

Academy Sports and Outdoors Annual Data
Trend Jan18 Jan19 Jan20 Jan21 Jan22
Beneish M-Score - - -2.71 -2.92 -2.39

Academy Sports and Outdoors Quarterly Data
Jan18 Jan19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22
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 -2.45 -2.49 -2.39 -2.26 -2.05

Academy Sports and Outdoors (NAS:ASO) Beneish M-Score Competitive Comparison

For the Specialty Retail subindustry, Academy Sports and Outdoors'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.

   

Academy Sports and Outdoors (NAS:ASO) Beneish M-Score Distribution

For the Retail - Cyclical industry and Consumer Cyclical sector, Academy Sports and Outdoors's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Academy Sports and Outdoors's Beneish M-Score falls into.



Academy Sports and Outdoors 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 Academy Sports and Outdoors 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 * 1.2969+0.528 * 0.9841+0.404 * 0.9982+0.892 * 1.0376+0.115 * 0.9532
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9343+4.679 * 0.024-0.327 * 0.9659
=-2.05

* 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 (Jul22) TTM:Last Year (Jul21) TTM:
Total Receivables was $15 Mil.
Revenue was 1686.915 + 1467.73 + 1808.47 + 1592.795 = $6,556 Mil.
Gross Profit was 596.063 + 521.424 + 584.06 + 560.838 = $2,262 Mil.
Total Current Assets was $1,767 Mil.
Total Assets was $4,654 Mil.
Property, Plant and Equipment(Net PPE) was $1,438 Mil.
Depreciation, Depletion and Amortization(DDA) was $106 Mil.
Selling, General, & Admin. Expense(SGA) was $1,386 Mil.
Total Current Liabilities was $1,120 Mil.
Long-Term Debt & Capital Lease Obligation was $1,765 Mil.
Net Income was 188.801 + 149.806 + 141.77 + 161.305 = $642 Mil.
Non Operating Income was 1.441 + 0.697 + 1.075 + 0.614 = $4 Mil.
Cash Flow from Operations was 161.309 + 97.097 + 158.202 + 109.389 = $526 Mil.
Total Receivables was $11 Mil.
Revenue was 1791.53 + 1580.333 + 1597.436 + 1349.076 = $6,318 Mil.
Gross Profit was 642.496 + 563.701 + 499.088 + 440.511 = $2,146 Mil.
Total Current Assets was $1,720 Mil.
Total Assets was $4,634 Mil.
Property, Plant and Equipment(Net PPE) was $1,468 Mil.
Depreciation, Depletion and Amortization(DDA) was $103 Mil.
Selling, General, & Admin. Expense(SGA) was $1,430 Mil.
Total Current Liabilities was $1,182 Mil.
Long-Term Debt & Capital Lease Obligation was $1,792 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)
=(14.521 / 6555.91) / (10.791 / 6318.375)
=0.00221495 / 0.00170788
=1.2969

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)
=(2145.796 / 6318.375) / (2262.385 / 6555.91)
=0.339612 / 0.34509092
=0.9841

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 - (1767.145 + 1437.713) / 4653.969) / (1 - (1720.449 + 1468.056) / 4634.027)
=0.311371 / 0.31193646
=0.9982

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
=6555.91 / 6318.375
=1.0376

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))
=(102.638 / (102.638 + 1468.056)) / (105.818 / (105.818 + 1437.713))
=0.06534564 / 0.0685558
=0.9532

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)
=(1385.843 / 6555.91) / (1429.576 / 6318.375)
=0.21138835 / 0.22625691
=0.9343

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)
=((1764.855 + 1119.627) / 4653.969) / ((1791.812 + 1181.565) / 4634.027)
=0.61978969 / 0.64163998
=0.9659

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
=(641.682 - 3.827 - 525.997) / 4653.969
=0.024

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.

Academy Sports and Outdoors has a M-score of -2.05 suggests that the company is unlikely to be a manipulator.


Academy Sports and Outdoors Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Academy Sports and Outdoors's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Academy Sports and Outdoors (NAS:ASO) Business Description

Academy Sports and Outdoors logo
Traded in Other Exchanges
N/A
Address
1800 North Mason Road, Katy, TX, USA, 77449
Academy Sports and Outdoors Inc is engaged in the retail business of sporting goods and outdoor recreation products. The company offers outdoor clothing, backpacks, sunglasses, luggage items, shooting equipment, fishing equipment, boating and water sports equipment, backyard recreation products, outdoor cooking equipment, fitness equipment, electronic items, dog supplies, and other products.
Executives
Turner Christopher Lee director 1441 GARDINER LANE LOUISVILLE KY 40213
Turney Sharen J director THREE LIMITED PARKWAY COLUMBUS OH 43230
Raff Beryl director 5555 DARROW RD HUDSON OH 44236
Nealon Thomas M director 6501 LEGACY DRIVE PLANO TX 75024
Harriman Sherry L. officer: SVP, Logistics & Supply Chain C/O ACADEMY SPORTS AND OUTDOORS, INC. 1800 N MASON ROAD KATY TX 77449
Beck Wendy A. director C/O NORWEGIAN CRUISE LINE HOLDINGS LTD. 7665 CORPORATE CENTER DRIVE MIAMI FL 33126
Allstar Llc 10 percent owner C/O KOHLBERG KRAVIS ROBERTS & CO. L.P. 30 HUDSON YARDS NEW YORK NY 10001
Kkr 2006 Allstar Blocker L.p. 10 percent owner C/O KOHLBERG KRAVIS ROBERTS & CO. L.P. 30 HUDSON YARDS NEW YORK NY 10001
Kkr 2006 Fund (allstar) L.p. 10 percent owner C/O KOHLBERG KRAVIS ROBERTS & CO. L.P. 30 HUDSON YARDS NEW YORK NY 10001
Davis Heather A. officer: VP, Controller C/O ACADEMY SPORTS AND OUTDOORS, INC. 1800 NORTH MASON ROAD KATY TX 77449
Allstar Co-invest Gp Llc 10 percent owner C/O KOHLBERG KRAVIS ROBERTS & CO. L.P. 30 HUDSON YARDS NEW YORK NY 10001
Tweedy Jeffrey C. director C/O ACADEMY SPORTS AND OUTDOORS, INC. 1800 NORTH MASON ROAD KATY TX 77449
Allstar Co-invest Blocker L.p. 10 percent owner C/O KOHLBERG KRAVIS ROBERTS & CO. L.P. 30 HUDSON YARDS NEW YORK NY 10001
Ennis William S. officer: See Remarks C/O ACADEMY SPORTS AND OUTDOORS, INC. 1800 NORTH MASON ROAD KATY TX 77449
Patel Vishal director C/O US FOODS HOLDING CORP. 9399 W. HIGGINS RD. ROSEMONT IL 60018

Academy Sports and Outdoors (NAS:ASO) Headlines

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