Las Vegasnds Beneish M-Score Historical Data
The historical data trend for Las Vegasnds'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.
Las Vegasnds Beneish M-Score Chart
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Las Vegasnds Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-3.09 |
-2.80 |
-0.87 |
-1.66 |
-2.95 |
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Las Vegasnds 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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-1.66 |
-2.22 |
-2.44 |
-2.74 |
-2.95 |
Competitive Comparison of Las Vegasnds's Beneish M-Score
For the Resorts & Casinos subindustry, Las Vegasnds'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.
Las Vegasnds's Beneish M-Score Distribution in the Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Las Vegasnds's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Las Vegasnds's Beneish M-Score falls into.
Las Vegasnds 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 Las Vegasnds 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 * 0.7064 | + | 0.528 * 1.0251 | + | 0.404 * 1.0848 | + | 0.892 * 3.4124 | + | 0.115 * 0.8461 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9708 | + | 4.679 * -0.077014 | - | 0.327 * 1.0437 |
| = | -0.94 |
* 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 ARS421,170 Mil.
Revenue was 2924960.029 + 2549240.888 + 2472475.465 + 2492957.542 = ARS10,439,634 Mil.
Gross Profit was 1426120.014 + 1206184.447 + 1201760.983 + 1262065.021 = ARS5,096,130 Mil.
Total Current Assets was ARS4,332,900 Mil.
Total Assets was ARS20,872,660 Mil.
Property, Plant and Equipment(Net PPE) was ARS14,134,950 Mil.
Depreciation, Depletion and Amortization(DDA) was ARS1,267,444 Mil.
Selling, General, & Admin. Expense(SGA) was ARS1,065,475 Mil.
Total Current Liabilities was ARS5,859,010 Mil.
Long-Term Debt & Capital Lease Obligation was ARS10,697,920 Mil.
Net Income was 327240.003 + 261387.489 + 316111.495 + 416195.007 = ARS1,320,934 Mil.
Non Operating Income was -19190 + -3802 + -7164 + -19377.5 = ARS-49,534 Mil.
Cash Flow from Operations was 924150.009 + 723330.468 + 728936.99 + 601545.01 = ARS2,977,962 Mil.
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Total Receivables was ARS174,724 Mil.
Revenue was 1052315.001 + 978110.277 + 610079.995 + 418806.01 = ARS3,059,311 Mil.
Gross Profit was 535363 + 493079.564 + 299759.998 + 202686.305 = ARS1,530,889 Mil.
Total Current Assets was ARS2,085,497 Mil.
Total Assets was ARS7,861,858 Mil.
Property, Plant and Equipment(Net PPE) was ARS4,941,368 Mil.
Depreciation, Depletion and Amortization(DDA) was ARS369,786 Mil.
Selling, General, & Admin. Expense(SGA) was ARS321,638 Mil.
Total Current Liabilities was ARS1,596,342 Mil.
Long-Term Debt & Capital Lease Obligation was ARS4,378,569 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) |
| = | (421170.004 / 10439633.924) | / | (174724 / 3059311.283) |
| = | 0.040343 | / | 0.057112 |
| | = | 0.7064 |
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) |
| = | (1530888.867 / 3059311.283) | / | (5096130.465 / 10439633.924) |
| = | 0.500403 | / | 0.488152 |
| | = | 1.0251 |
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 - (4332900.043 + 14134950.141) / 20872660.209) | / | (1 - (2085497.002 + 4941368.004) / 7861858.007) |
| = | 0.115213 | / | 0.106208 |
| | = | 1.0848 |
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 |
| = | 10439633.924 | / | 3059311.283 |
| | = | 3.4124 |
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)) |
| = | (369786.003 / (369786.003 + 4941368.004)) | / | (1267444.491 / (1267444.491 + 14134950.141)) |
| = | 0.069624 | / | 0.082289 |
| | = | 0.8461 |
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) |
| = | (1065475.492 / 10439633.924) | / | (321637.553 / 3059311.283) |
| = | 0.102061 | / | 0.105134 |
| | = | 0.9708 |
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) |
| = | ((10697920.107 + 5859010.059) / 20872660.209) | / | ((4378569.004 + 1596342.001) / 7861858.007) |
| = | 0.793235 | / | 0.759987 |
| | = | 1.0437 |
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 |
| = | (1320933.994 - -49533.5 | - | 2977962.477) | / | 20872660.209 |
| | = | -0.077014 |
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.
Las Vegasnds has a M-score of -0.94 signals that the company is likely to be a manipulator.
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