Hasbro Beneish M-Score Historical Data
The historical data trend for Hasbro'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.
Hasbro Beneish M-Score Chart
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Hasbro Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-1.98 |
-2.56 |
-2.78 |
-2.98 |
-2.80 |
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Hasbro Quarterly Data
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Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-2.98 |
-2.96 |
-2.95 |
-2.83 |
-2.80 |
Competitive Comparison of Hasbro's Beneish M-Score
For the Leisure subindustry, Hasbro'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.
Hasbro's Beneish M-Score Distribution in the Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Hasbro's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Hasbro's Beneish M-Score falls into.
Hasbro 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 Hasbro 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 * 1.2038 | + | 0.528 * 0.8916 | + | 0.404 * 1.0083 | + | 0.892 * 0.9243 | + | 0.115 * 1.7132 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0113 | + | 4.679 * -0.052067 | - | 0.327 * 0.9823 |
| = | -2.57 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was R$5,612 Mil.
Revenue was 6720.862 + 7095.583 + 5360.785 + 3771.203 = R$22,948 Mil.
Gross Profit was 4044.353 + 4454.606 + 3782.658 + 2500.856 = R$14,782 Mil.
Total Current Assets was R$13,681 Mil.
Total Assets was R$38,682 Mil.
Property, Plant and Equipment(Net PPE) was R$1,846 Mil.
Depreciation, Depletion and Amortization(DDA) was R$1,177 Mil.
Selling, General, & Admin. Expense(SGA) was R$8,533 Mil.
Total Current Liabilities was R$8,549 Mil.
Long-Term Debt & Capital Lease Obligation was R$20,626 Mil.
Net Income was -209.264 + 1236.037 + 745.975 + 289.824 = R$2,063 Mil.
Non Operating Income was -596.678 + 110.202 + -78.098 + -70.215 = R$-635 Mil.
Cash Flow from Operations was 1585.04 + 1232.16 + 1008.817 + 885.408 = R$4,711 Mil.
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Total Receivables was R$5,043 Mil.
Revenue was 6315.352 + 7424.842 + 5872.977 + 5213.809 = R$24,827 Mil.
Gross Profit was 2853.644 + 4454.707 + 3581.545 + 3368.402 = R$14,258 Mil.
Total Current Assets was R$11,385 Mil.
Total Assets was R$32,049 Mil.
Property, Plant and Equipment(Net PPE) was R$1,638 Mil.
Depreciation, Depletion and Amortization(DDA) was R$3,280 Mil.
Selling, General, & Admin. Expense(SGA) was R$9,129 Mil.
Total Current Liabilities was R$10,076 Mil.
Long-Term Debt & Capital Lease Obligation was R$14,532 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) |
| = | (5611.7 / 22948.433) | / | (5043.364 / 24826.98) |
| = | 0.244535 | / | 0.20314 |
| | = | 1.2038 |
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) |
| = | (14258.298 / 24826.98) | / | (14782.473 / 22948.433) |
| = | 0.574307 | / | 0.64416 |
| | = | 0.8916 |
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 - (13681.493 + 1846.163) / 38682.17) | / | (1 - (11385.175 + 1638.003) / 32049.102) |
| = | 0.598584 | / | 0.593649 |
| | = | 1.0083 |
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 |
| = | 22948.433 | / | 24826.98 |
| | = | 0.9243 |
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)) |
| = | (3280.295 / (3280.295 + 1638.003)) | / | (1176.864 / (1176.864 + 1846.163)) |
| = | 0.666957 | / | 0.3893 |
| | = | 1.7132 |
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) |
| = | (8533.171 / 22948.433) | / | (9128.663 / 24826.98) |
| = | 0.371841 | / | 0.367691 |
| | = | 1.0113 |
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) |
| = | ((20626.261 + 8549.331) / 38682.17) | / | ((14531.827 + 10075.949) / 32049.102) |
| = | 0.754239 | / | 0.767815 |
| | = | 0.9823 |
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 |
| = | (2062.572 - -634.789 | - | 4711.425) | / | 38682.17 |
| | = | -0.052067 |
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.
Hasbro has a M-score of -2.57 suggests that the company is unlikely to be a manipulator.
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