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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 -2.32 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Bridgford Foods's Beneish M-Score or its related term are showing as below:
During the past 13 years, the highest Beneish M-Score of Bridgford Foods was -1.49. The lowest was -2.84. And the median was -2.44.
The historical data trend for Bridgford Foods'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.
Bridgford Foods Annual Data | |||||||||||||||||||||
Trend | Oct15 | Oct16 | Oct17 | Oct18 | Oct19 | Oct20 | Oct21 | Oct22 | Oct23 | Oct24 | |||||||||||
Beneish M-Score | Get a 7-Day Free Trial |
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-2.32 | -2.37 | -2.51 | -2.53 | -2.32 |
Bridgford Foods Quarterly Data | ||||||||||||||||||||
Jan20 | Apr20 | Jul20 | Oct20 | Jan21 | Apr21 | Jul21 | Oct21 | Jan22 | Apr22 | Jul22 | Oct22 | Jan23 | Apr23 | Jul23 | Oct23 | Jan24 | Apr24 | Jul24 | Oct24 | |
Beneish M-Score | Get a 7-Day Free Trial |
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-2.53 | -2.56 | - | - | -2.32 |
For the Packaged Foods subindustry, Bridgford Foods'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.
For the Consumer Packaged Goods industry and Consumer Defensive sector, Bridgford Foods's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Bridgford Foods's Beneish M-Score falls into.
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 Bridgford Foods 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 * 1.2368 | + | 0.528 * 1.1101 | + | 0.404 * 1.2991 | + | 0.892 * 0.8888 | + | 0.115 * 0.9639 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 1.0678 | + | 4.679 * -0.030142 | - | 0.327 * 0.9383 | |||||||
= | -2.32 |
* 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 $33.8 Mil. Revenue was 72.226 + 49.263 + 47.314 + 54.842 = $223.6 Mil. Gross Profit was 18.34 + 11.224 + 10.726 + 16.038 = $56.3 Mil. Total Current Assets was $78.0 Mil. Total Assets was $157.4 Mil. Property, Plant and Equipment(Net PPE) was $64.6 Mil. Depreciation, Depletion and Amortization(DDA) was $6.5 Mil. Selling, General, & Admin. Expense(SGA) was $61.6 Mil. Total Current Liabilities was $16.5 Mil. Long-Term Debt & Capital Lease Obligation was $4.1 Mil. Net Income was -0.651 + -1.77 + -2.195 + 1.235 = $-3.4 Mil. Non Operating Income was 0.029 + 0.774 + 0.151 + 0.905 = $1.9 Mil. Cash Flow from Operations was -3.699 + 2.2 + 1.705 + -0.703 = $-0.5 Mil. |
Total Receivables was $30.8 Mil. Revenue was 80.315 + 54.189 + 55.51 + 61.622 = $251.6 Mil. Gross Profit was 22.543 + 15.291 + 15.457 + 17.066 = $70.4 Mil. Total Current Assets was $87.5 Mil. Total Assets was $167.0 Mil. Property, Plant and Equipment(Net PPE) was $67.5 Mil. Depreciation, Depletion and Amortization(DDA) was $6.6 Mil. Selling, General, & Admin. Expense(SGA) was $64.9 Mil. Total Current Liabilities was $18.0 Mil. Long-Term Debt & Capital Lease Obligation was $5.3 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) |
= | (33.812 / 223.645) | / | (30.761 / 251.636) | |
= | 0.151186 | / | 0.122244 | |
= | 1.2368 |
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) | |
= | (70.357 / 251.636) | / | (56.328 / 223.645) | |
= | 0.279598 | / | 0.251863 | |
= | 1.1101 |
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 - (77.989 + 64.634) / 157.354) | / | (1 - (87.477 + 67.487) / 166.998) | |
= | 0.093617 | / | 0.072061 | |
= | 1.2991 |
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 | |
= | 223.645 | / | 251.636 | |
= | 0.8888 |
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)) |
= | (6.558 / (6.558 + 67.487)) | / | (6.54 / (6.54 + 64.634)) | |
= | 0.088568 | / | 0.091887 | |
= | 0.9639 |
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) |
= | (61.612 / 223.645) | / | (64.922 / 251.636) | |
= | 0.27549 | / | 0.258 | |
= | 1.0678 |
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) |
= | ((4.099 + 16.453) / 157.354) | / | ((5.264 + 17.981) / 166.998) | |
= | 0.13061 | / | 0.139193 | |
= | 0.9383 |
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 | |
= | (-3.381 - 1.859 | - | -0.497) | / | 157.354 | |
= | -0.030142 |
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.
Bridgford Foods has a M-score of -2.32 suggests that the company is unlikely to be a manipulator.
Thank you for viewing the detailed overview of Bridgford Foods's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Brian E. Bridgford | other: V.P. Production | 170 N. GREEN STREET, CHICAGO IL 60661 |
Richard Eugene Bridgford | other: VP, Ind. Relations & Safety | 170 N GREEN ST, CHICAGO IL 60607 |
Allan Jr. Bridgford | director | 515 MARGUERITE AVENUE, CORONA DEL MAR CA 92625 |
Juan Luis Silva | other: V.P. Plant Superintendent | 3414 STONE CREEK DR, JOLIET IL 60435 |
Dennis Gregory Scott | director | 9595 WILSHIRE BLVD., SUITE 710, BEVERLY HILLS CA 90212 |
Baron Bridgford | other: President, BFI. | P.O. BOX 3773, ANAHEIM CA 92803 |
Christopher William Cole | other: Senior Vice President | 1415 W. 44TH STREET, CHICAGO IL 60609 |
Bridgford Baron R.h. Ii | officer: President | 1415 W. 44TH STREET, CHICAGO IL 60609 |
Cindy Matthews-morales | officer: CFO, Secretary | 1308 N. PATT STREET, ANAHEIM CA 92801 |
Michael W. Bridgford | officer: Chairman of the Board | 1308 N. PATT STREET, ANAHEIM CA 92801 |
Mary S Schott | director | 2990 AIRWAY AVENUE, BUILDING A, COSTA MESA CA 92626 |
Debra Aileen Dealcuaz | other: Treasurer, Bridgford Indust. | 6432 CONNIE LANE, ROCKWALL TX 75032 |
Bruce Bridgford | director | P.O. BOX 3773, ANAHEIM CA 92803 |
William L Bridgford | director, officer: Chairman | P.O. BOX 3773, ANAHEIM CA 92803 |
Raymond F. Lancy | director, officer: CFO, TREAS, ASST SEC | 1308 N. PATT ST.,, ANAHEIM CA 92801 |
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