Barnes & Noble Education Beneish M-Score Historical Data
The historical data trend for Barnes & Noble Education'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.
Barnes & Noble Education Beneish M-Score Chart
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Barnes & Noble Education Annual Data
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Apr24 |
| Beneish M-Score |
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-2.53 |
-2.40 |
-2.89 |
-3.74 |
-2.53 |
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Barnes & Noble Education Quarterly Data
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Oct24 |
| Beneish M-Score |
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-2.94 |
-2.79 |
-2.53 |
-2.41 |
-2.05 |
Competitive Comparison of Barnes & Noble Education's Beneish M-Score
For the Specialty Retail subindustry, Barnes & Noble Education'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.
Barnes & Noble Education's Beneish M-Score Distribution in the Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Barnes & Noble Education's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Barnes & Noble Education's Beneish M-Score falls into.
Barnes & Noble Education 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 Barnes & Noble Education 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 * 1.2407 | + | 0.528 * 0.9668 | + | 0.404 * 0.9993 | + | 0.892 * 1.0024 | + | 0.115 * 0.8446 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8663 | + | 4.679 * 0.038237 | - | 0.327 * 0.8879 |
| = | -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 (Oct24) TTM: | Last Year (Oct23) TTM: |
Total Receivables was $276 Mil.
Revenue was 602.122 + 263.431 + 235.922 + 456.673 = $1,558 Mil.
Gross Profit was 137.643 + 47.206 + 69.864 + 100.036 = $355 Mil.
Total Current Assets was $686 Mil.
Total Assets was $1,052 Mil.
Property, Plant and Equipment(Net PPE) was $255 Mil.
Depreciation, Depletion and Amortization(DDA) was $42 Mil.
Selling, General, & Admin. Expense(SGA) was $288 Mil.
Total Current Liabilities was $524 Mil.
Long-Term Debt & Capital Lease Obligation was $307 Mil.
Net Income was 49.735 + -99.479 + -27.364 + -9.639 = $-87 Mil.
Non Operating Income was 0.15 + -58.851 + -8.457 + -9.211 = $-76 Mil.
Cash Flow from Operations was 47.41 + -143.992 + 81.749 + -35.772 = $-51 Mil.
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Total Receivables was $222 Mil.
Revenue was 610.379 + 264.161 + 241.847 + 438.054 = $1,554 Mil.
Gross Profit was 136.242 + 50.634 + 58.282 + 97.011 = $342 Mil.
Total Current Assets was $716 Mil.
Total Assets was $1,145 Mil.
Property, Plant and Equipment(Net PPE) was $308 Mil.
Depreciation, Depletion and Amortization(DDA) was $41 Mil.
Selling, General, & Admin. Expense(SGA) was $332 Mil.
Total Current Liabilities was $624 Mil.
Long-Term Debt & Capital Lease Obligation was $394 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) |
| = | (275.847 / 1558.148) | / | (221.805 / 1554.441) |
| = | 0.177035 | / | 0.142691 |
| | = | 1.2407 |
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) |
| = | (342.169 / 1554.441) | / | (354.749 / 1558.148) |
| = | 0.220124 | / | 0.227673 |
| | = | 0.9668 |
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 - (686.032 + 255.197) / 1052.05) | / | (1 - (716.355 + 307.934) / 1144.979) |
| = | 0.105338 | / | 0.105408 |
| | = | 0.9993 |
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 |
| = | 1558.148 | / | 1554.441 |
| | = | 1.0024 |
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)) |
| = | (41.465 / (41.465 + 307.934)) | / | (41.719 / (41.719 + 255.197)) |
| = | 0.118675 | / | 0.140508 |
| | = | 0.8446 |
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) |
| = | (288.1 / 1558.148) | / | (331.753 / 1554.441) |
| = | 0.184899 | / | 0.213423 |
| | = | 0.8663 |
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) |
| = | ((307.299 + 523.561) / 1052.05) | / | ((394.058 + 624.396) / 1144.979) |
| = | 0.789753 | / | 0.889496 |
| | = | 0.8879 |
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 |
| = | (-86.747 - -76.369 | - | -50.605) | / | 1052.05 |
| | = | 0.038237 |
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.
Barnes & Noble Education has a M-score of -2.05 suggests that the company is unlikely to be a manipulator.
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