BOSSY (Hugo Boss AG) Beneish M-Score : -3.05 (As of Mar. 24, 2025)

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What is Hugo Boss AG 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.

Good Sign:

Beneish M-Score -3.05 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Hugo Boss AG's Beneish M-Score or its related term are showing as below:

BOSSY' s Beneish M-Score Range Over the Past 10 Years
Min: -3.66 Med: -2.91 Max: -2.24
Current: -3.05

During the past 13 years, the highest Beneish M-Score of Hugo Boss AG was -2.24. The lowest was -3.66. And the median was -2.91.

Hugo Boss AG Beneish M-Score Historical Data

The historical data trend for Hugo Boss AG'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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Hugo Boss AG Beneish M-Score Chart

Hugo Boss AG Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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-3.41

-2.98

-2.60

-2.29

Hugo Boss AG Quarterly Data
	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24
Beneish M-Score	Get a 7-Day Free Trial															-2.29	-2.67	-2.87	-3.05	-

Competitive Comparison of Hugo Boss AG's Beneish M-Score

For the Apparel Manufacturing subindustry, Hugo Boss AG'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.

Hugo Boss AG's Beneish M-Score Distribution in the Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Hugo Boss AG's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Hugo Boss AG's Beneish M-Score falls into.

Hugo Boss AG 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 Hugo Boss AG 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 * 0.9014

0.528 * 0.9959

0.404 * 0.9968

0.892 * 1.0263

0.115 * 0.9406

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0133

4.679 * -0.153993

0.327 * 0.9995

-3.28

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was $379 Mil.
Revenue was 1308.219 + 1142.064 + 1092.573 + 1102.174 = $4,645 Mil.
Gross Profit was 816.587 + 687.014 + 686.76 + 677.174 = $2,868 Mil.
Total Current Assets was $1,940 Mil.
Total Assets was $3,961 Mil.
Property, Plant and Equipment(Net PPE) was $1,617 Mil.
Depreciation, Depletion and Amortization(DDA) was $446 Mil.
Selling, General, & Admin. Expense(SGA) was $2,306 Mil.
Total Current Liabilities was $1,261 Mil.
Long-Term Debt & Capital Lease Obligation was $1,055 Mil.
Net Income was 87.401 + 61.043 + 39.828 + 41.304 = $230 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 394.252 + 144.284 + 235.737 + 65.217 = $839 Mil.

Total Receivables was $410 Mil.
Revenue was 1282.941 + 1096.051 + 1110.509 + 1036.403 = $4,526 Mil.
Gross Profit was 789.369 + 664.888 + 692.308 + 635.974 = $2,783 Mil.
Total Current Assets was $1,953 Mil.
Total Assets was $3,786 Mil.
Property, Plant and Equipment(Net PPE) was $1,446 Mil.
Depreciation, Depletion and Amortization(DDA) was $369 Mil.
Selling, General, & Admin. Expense(SGA) was $2,218 Mil.
Total Current Liabilities was $1,189 Mil.
Long-Term Debt & Capital Lease Obligation was $1,026 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)
	=	(378.959 / 4645.03)	/	(409.618 / 4525.904)
	=	0.081584	/	0.090505
	=	0.9014

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)
	=	(2782.539 / 4525.904)	/	(2867.535 / 4645.03)
	=	0.614803	/	0.617334
	=	0.9959

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 - (1939.874 + 1617.106) / 3960.65)	/	(1 - (1953.188 + 1445.619) / 3785.896)
	=	0.10192	/	0.102245
	=	0.9968

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
	=	4645.03	/	4525.904
	=	1.0263

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))
	=	(368.566 / (368.566 + 1445.619))	/	(445.52 / (445.52 + 1617.106))
	=	0.203158	/	0.215997
	=	0.9406

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)
	=	(2306.336 / 4645.03)	/	(2217.7 / 4525.904)
	=	0.496517	/	0.490002
	=	1.0133

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)
	=	((1054.837 + 1260.87) / 3960.65)	/	((1025.804 + 1188.816) / 3785.896)
	=	0.584679	/	0.584966
	=	0.9995

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
	=	(229.576 - 0	-	839.49)	/	3960.65
	=	-0.153993

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.

Hugo Boss AG has a M-score of -3.28 suggests that the company is unlikely to be a manipulator.

Hugo Boss AG Beneish M-Score Related Terms

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Hugo Boss AG Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Manufacturing - Apparel & Accessories » Hugo Boss AG (OTCPK:BOSSY) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

HUGPF:USA 1BOSS:Italy BOSSd:UK 0Q8F:UK BOSS:Germany BOSS:Austria

Address

Dieselstrasse 12, Metzingen, DEU, 72555

Website

https://www.hugoboss.com

Hugo Boss is a German-based menswear apparel brand operating in the premium segment through its two brands, Boss and Hugo. The brand was founded in 1924 and initially focused on uniforms. After World War II and the death of the founder, the company shifted focus to men's suits. The company is globally present with 61% of revenue generated in the European market, 23% in the Americas, 14% in Asia-Pacific, and less than 3% from licenses. It generates over 50% of sales through its own retail with over 1,400 stores globally.