Walgreens Boots Alliance Beneish M-Score Historical Data
The historical data trend for Walgreens Boots Alliance'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.
Walgreens Boots Alliance Beneish M-Score Chart
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Walgreens Boots Alliance Annual Data
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Aug15 |
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Aug24 |
| Beneish M-Score |
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-3.11 |
-2.26 |
-2.69 |
-2.72 |
-2.34 |
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Walgreens Boots Alliance Quarterly Data
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Aug20 |
Nov20 |
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May25 |
| Beneish M-Score |
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-2.20 |
-2.34 |
-2.43 |
-2.94 |
-2.82 |
BUE:WBA vs WGRX, PETS, BHIC: Beneish M-Score Comparison
For the Pharmaceutical Retailers subindustry, Walgreens Boots Alliance'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.
Walgreens Boots Alliance Beneish M-Score vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Walgreens Boots Alliance's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Walgreens Boots Alliance's Beneish M-Score falls into.
Walgreens Boots Alliance 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 Walgreens Boots Alliance 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 * 0.627 | + | 0.528 * 1.0633 | + | 0.404 * 0.8695 | + | 0.892 * 2.3895 | + | 0.115 * 0.5596 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0064 | + | 4.679 * -0.064446 | - | 0.327 * 1.1581 |
| = | -2.01 |
* 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 (May25) TTM: | Last Year (May24) TTM: |
Total Receivables was ARS7,811,850.86 Mil.
Revenue was 46144366.318 + 40979441.357 + 39064410.391 + 34993803.132 = ARS161,182,021.20 Mil.
Gross Profit was 7700591.168 + 7364787.649 + 6711210.067 + 5827795.855 = ARS27,604,384.74 Mil.
Total Current Assets was ARS18,583,919.76 Mil.
Total Assets was ARS82,149,897.11 Mil.
Property, Plant and Equipment(Net PPE) was ARS32,857,118.17 Mil.
Depreciation, Depletion and Amortization(DDA) was ARS2,525,530.61 Mil.
Selling, General, & Admin. Expense(SGA) was ARS30,547,598.32 Mil.
Total Current Liabilities was ARS30,724,246.16 Mil.
Long-Term Debt & Capital Lease Obligation was ARS30,977,539.51 Mil.
Net Income was -207132.409 + -3029810.982 + -262350.003 + -2800659.931 = ARS-6,299,953.33 Mil.
Non Operating Income was 44977.323 + -2294925.178 + -178200.002 + -160303.996 = ARS-2,588,451.85 Mil.
Cash Flow from Operations was 691230.44 + -211332.767 + -138600.001 + 1241423.969 = ARS1,582,721.64 Mil.
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Total Receivables was ARS5,214,298.56 Mil.
Revenue was 31861651.836 + 12968199.805 + 12847449.807 + 9776472.016 = ARS67,453,773.46 Mil.
Gross Profit was 5662190.06 + 2464349.963 + 2369849.964 + 1787376.003 = ARS12,283,765.99 Mil.
Total Current Assets was ARS14,319,380.65 Mil.
Total Assets was ARS72,736,353.27 Mil.
Property, Plant and Equipment(Net PPE) was ARS27,146,958.29 Mil.
Depreciation, Depletion and Amortization(DDA) was ARS1,129,515.50 Mil.
Selling, General, & Admin. Expense(SGA) was ARS12,702,904.48 Mil.
Total Current Liabilities was ARS21,942,301.23 Mil.
Long-Term Debt & Capital Lease Obligation was ARS25,230,929.27 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) |
| = | (7811850.862 / 161182021.198) | / | (5214298.555 / 67453773.464) |
| = | 0.048466 | / | 0.077302 |
| | = | 0.627 |
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) |
| = | (12283765.99 / 67453773.464) | / | (27604384.739 / 161182021.198) |
| = | 0.182106 | / | 0.171262 |
| | = | 1.0633 |
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 - (18583919.755 + 32857118.17) / 82149897.108) | / | (1 - (14319380.651 + 27146958.286) / 72736353.267) |
| = | 0.373815 | / | 0.429909 |
| | = | 0.8695 |
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 |
| = | 161182021.198 | / | 67453773.464 |
| | = | 2.3895 |
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)) |
| = | (1129515.5 / (1129515.5 + 27146958.286)) | / | (2525530.614 / (2525530.614 + 32857118.17)) |
| = | 0.039945 | / | 0.071378 |
| | = | 0.5596 |
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) |
| = | (30547598.315 / 161182021.198) | / | (12702904.484 / 67453773.464) |
| = | 0.189522 | / | 0.18832 |
| | = | 1.0064 |
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) |
| = | ((30977539.508 + 30724246.162) / 82149897.108) | / | ((25230929.266 + 21942301.231) / 72736353.267) |
| = | 0.751088 | / | 0.648551 |
| | = | 1.1581 |
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 |
| = | (-6299953.325 - -2588451.853 | - | 1582721.641) | / | 82149897.108 |
| | = | -0.064446 |
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.
Walgreens Boots Alliance has a M-score of -2.01 suggests that the company is unlikely to be a manipulator.
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