Academy Sports and Outdoors 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.
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Academy Sports and Outdoors Annual Data
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Trend |
Jan18 |
Jan19 |
Jan20 |
Jan21 |
Jan22 |
Jan23 |
Jan24 |
| Beneish M-Score |
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- |
-2.92 |
-2.39 |
-2.55 |
-2.33 |
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Academy Sports and Outdoors Quarterly Data
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Jan19 |
Jul19 |
Oct19 |
Jan20 |
Apr20 |
Jul20 |
Oct20 |
Jan21 |
Apr21 |
Jul21 |
Oct21 |
Jan22 |
Apr22 |
Jul22 |
Oct22 |
Jan23 |
Apr23 |
Jul23 |
Oct23 |
Jan24 |
| Beneish M-Score |
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-2.55 |
-2.57 |
-2.47 |
-2.42 |
-2.33 |
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 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 * 1.2185 | + | 0.528 * 1.0098 | + | 0.404 * 0.9948 | + | 0.892 * 0.9631 | + | 0.115 * 1.0298 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0888 | + | 4.679 * -0.010251 | - | 0.327 * 0.8953 |
| = | -2.33 |
* 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 (Jan24) TTM: | Last Year (Jan23) TTM: |
Total Receivables was $19 Mil.
Revenue was 1794.828 + 1397.777 + 1583.077 + 1383.609 = $6,159 Mil.
Gross Profit was 597.009 + 482.641 + 563.446 + 467.115 = $2,110 Mil.
Total Current Assets was $1,645 Mil.
Total Assets was $4,677 Mil.
Property, Plant and Equipment(Net PPE) was $1,556 Mil.
Depreciation, Depletion and Amortization(DDA) was $111 Mil.
Selling, General, & Admin. Expense(SGA) was $1,432 Mil.
Total Current Liabilities was $880 Mil.
Long-Term Debt & Capital Lease Obligation was $1,576 Mil.
Net Income was 168.167 + 99.978 + 157.075 + 93.97 = $519 Mil.
Non Operating Income was 19.87 + 4.146 + 3.623 + 3.713 = $31 Mil.
Cash Flow from Operations was 234.737 + 57.476 + 191.431 + 52.135 = $536 Mil.
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Total Receivables was $17 Mil.
Revenue was 1746.503 + 1493.925 + 1686.915 + 1467.73 = $6,395 Mil.
Gross Profit was 572.544 + 522.471 + 596.063 + 521.424 = $2,213 Mil.
Total Current Assets was $1,687 Mil.
Total Assets was $4,595 Mil.
Property, Plant and Equipment(Net PPE) was $1,452 Mil.
Depreciation, Depletion and Amortization(DDA) was $107 Mil.
Selling, General, & Admin. Expense(SGA) was $1,366 Mil.
Total Current Liabilities was $1,039 Mil.
Long-Term Debt & Capital Lease Obligation was $1,657 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) |
| = | (19.371 / 6159.291) | / | (16.503 / 6395.073) |
| = | 0.003145 | / | 0.002581 |
| | = | 1.2185 |
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) |
| = | (2212.502 / 6395.073) | / | (2110.211 / 6159.291) |
| = | 0.34597 | / | 0.342606 |
| | = | 1.0098 |
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 - (1644.9 + 1556.446) / 4676.713) | / | (1 - (1686.675 + 1451.509) / 4595.439) |
| = | 0.315471 | / | 0.317109 |
| | = | 0.9948 |
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 |
| = | 6159.291 | / | 6395.073 |
| | = | 0.9631 |
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)) |
| = | (106.762 / (106.762 + 1451.509)) | / | (110.936 / (110.936 + 1556.446)) |
| = | 0.068513 | / | 0.066533 |
| | = | 1.0298 |
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) |
| = | (1432.356 / 6159.291) | / | (1365.953 / 6395.073) |
| = | 0.232552 | / | 0.213595 |
| | = | 1.0888 |
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) |
| = | ((1575.845 + 879.858) / 4676.713) | / | ((1656.648 + 1038.716) / 4595.439) |
| = | 0.525092 | / | 0.58653 |
| | = | 0.8953 |
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 |
| = | (519.19 - 31.352 | - | 535.779) | / | 4676.713 |
| | = | -0.010251 |
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 -2.33 suggests that the company is unlikely to be a manipulator.
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