AMC Entertainment Holdings Beneish M-Score Historical Data
The historical data trend for AMC Entertainment Holdings'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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AMC Entertainment Holdings Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.80 |
-3.80 |
-1.88 |
-2.28 |
-2.30 |
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AMC Entertainment Holdings Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
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-2.28 |
-2.46 |
-2.39 |
-2.34 |
-2.30 |
Competitive Comparison
For the Entertainment subindustry, AMC Entertainment Holdings'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.
AMC Entertainment Holdings Beneish M-Score Distribution
For the Media - Diversified industry and Communication Services sector, AMC Entertainment Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where AMC Entertainment Holdings's Beneish M-Score falls into.
AMC Entertainment Holdings 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 AMC Entertainment Holdings 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 * 0.9618 | + | 0.528 * 1.0091 | + | 0.404 * 1.0102 | + | 0.892 * 1.1891 | + | 0.115 * 0.9679 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8326 | + | 4.679 * -0.017999 | - | 0.327 * 0.9336 |
| = | -2.37 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was R$1,005 Mil.
Revenue was 5411.339 + 6943.318 + 6542.302 + 4971.088 = R$23,868 Mil.
Gross Profit was 3767.946 + 4530.27 + 4237.765 + 3368.922 = R$15,905 Mil.
Total Current Assets was R$5,895 Mil.
Total Assets was R$44,143 Mil.
Property, Plant and Equipment(Net PPE) was R$25,013 Mil.
Depreciation, Depletion and Amortization(DDA) was R$1,816 Mil.
Selling, General, & Admin. Expense(SGA) was R$5,549 Mil.
Total Current Liabilities was R$7,998 Mil.
Long-Term Debt & Capital Lease Obligation was R$42,153 Mil.
Net Income was -891.764 + 60.746 + 41.742 + -1226.625 = R$-2,016 Mil.
Non Operating Income was -200.892 + 89.884 + 127.167 + -127.611 = R$-111 Mil.
Cash Flow from Operations was -381.204 + 325.46 + -65.04 + -989.113 = R$-1,110 Mil.
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Total Receivables was R$879 Mil.
Revenue was 5197.667 + 5077.902 + 5887.637 + 3909.957 = R$20,073 Mil.
Gross Profit was 3451.473 + 3391.036 + 3902.377 + 2753.442 = R$13,498 Mil.
Total Current Assets was R$4,732 Mil.
Total Assets was R$47,920 Mil.
Property, Plant and Equipment(Net PPE) was R$28,966 Mil.
Depreciation, Depletion and Amortization(DDA) was R$2,031 Mil.
Selling, General, & Admin. Expense(SGA) was R$5,605 Mil.
Total Current Liabilities was R$8,866 Mil.
Long-Term Debt & Capital Lease Obligation was R$49,447 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) |
| = | (1005.439 / 23868.047) | / | (879.129 / 20073.163) |
| = | 0.042125 | / | 0.043796 |
| | = | 0.9618 |
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) |
| = | (13498.328 / 20073.163) | / | (15904.903 / 23868.047) |
| = | 0.672456 | / | 0.666368 |
| | = | 1.0091 |
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 - (5894.949 + 25012.989) / 44143.278) | / | (1 - (4731.875 + 28965.623) / 47919.876) |
| = | 0.299827 | / | 0.296795 |
| | = | 1.0102 |
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 |
| = | 23868.047 | / | 20073.163 |
| | = | 1.1891 |
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)) |
| = | (2031.198 / (2031.198 + 28965.623)) | / | (1816.319 / (1816.319 + 25012.989)) |
| = | 0.065529 | / | 0.067699 |
| | = | 0.9679 |
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) |
| = | (5549.068 / 23868.047) | / | (5605.306 / 20073.163) |
| = | 0.232489 | / | 0.279244 |
| | = | 0.8326 |
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) |
| = | ((42152.979 + 7998.434) / 44143.278) | / | ((49447.337 + 8866.3) / 47919.876) |
| = | 1.136105 | / | 1.216899 |
| | = | 0.9336 |
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 |
| = | (-2015.901 - -111.452 | - | -1109.897) | / | 44143.278 |
| | = | -0.017999 |
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.
AMC Entertainment Holdings has a M-score of -2.37 suggests that the company is unlikely to be a manipulator.
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