Cable One Beneish M-Score Historical Data
The historical data trend for Cable One'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.
Cable One Beneish M-Score Chart
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Cable One Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.88 |
-1.99 |
-2.71 |
-2.86 |
-2.56 |
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Cable One Quarterly Data
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Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
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-2.49 |
-2.56 |
-2.51 |
-2.92 |
-3.15 |
Competitive Comparison of Cable One's Beneish M-Score
For the Telecom Services subindustry, Cable One'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.
Cable One's Beneish M-Score Distribution in the Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Cable One's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Cable One's Beneish M-Score falls into.
Cable One 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 Cable One 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 * 0.714 | + | 0.528 * 0.9993 | + | 0.404 * 0.9869 | + | 0.892 * 0.9482 | + | 0.115 * 1.0174 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0764 | + | 4.679 * -0.071735 | - | 0.327 * 1.0189 |
| = | -3.15 |
* 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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was $58 Mil.
Revenue was 393.555 + 394.461 + 404.312 + 411.815 = $1,604 Mil.
Gross Profit was 288.952 + 288.616 + 297.8 + 305.55 = $1,181 Mil.
Total Current Assets was $335 Mil.
Total Assets was $6,661 Mil.
Property, Plant and Equipment(Net PPE) was $1,800 Mil.
Depreciation, Depletion and Amortization(DDA) was $343 Mil.
Selling, General, & Admin. Expense(SGA) was $359 Mil.
Total Current Liabilities was $360 Mil.
Long-Term Debt & Capital Lease Obligation was $3,474 Mil.
Net Income was 44.215 + 38.152 + 37.35 + 103.496 = $223 Mil.
Non Operating Income was 0.207 + -3.036 + -9.022 + 64.689 = $53 Mil.
Cash Flow from Operations was 176.209 + 155.548 + 164.75 + 151.669 = $648 Mil.
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Total Receivables was $86 Mil.
Revenue was 420.348 + 424.024 + 421.894 + 425.515 = $1,692 Mil.
Gross Profit was 310.666 + 311.22 + 309.733 + 312.898 = $1,245 Mil.
Total Current Assets was $394 Mil.
Total Assets was $6,912 Mil.
Property, Plant and Equipment(Net PPE) was $1,758 Mil.
Depreciation, Depletion and Amortization(DDA) was $342 Mil.
Selling, General, & Admin. Expense(SGA) was $351 Mil.
Total Current Liabilities was $218 Mil.
Long-Term Debt & Capital Lease Obligation was $3,686 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) |
| = | (58.449 / 1604.143) | / | (86.331 / 1691.781) |
| = | 0.036436 | / | 0.05103 |
| | = | 0.714 |
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) |
| = | (1244.517 / 1691.781) | / | (1180.918 / 1604.143) |
| = | 0.735625 | / | 0.736168 |
| | = | 0.9993 |
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 - (335.07 + 1799.501) / 6660.68) | / | (1 - (394.38 + 1758.117) / 6911.775) |
| = | 0.679527 | / | 0.688575 |
| | = | 0.9869 |
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 |
| = | 1604.143 | / | 1691.781 |
| | = | 0.9482 |
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)) |
| = | (342.484 / (342.484 + 1758.117)) | / | (343.424 / (343.424 + 1799.501)) |
| = | 0.163041 | / | 0.160259 |
| | = | 1.0174 |
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) |
| = | (358.625 / 1604.143) | / | (351.383 / 1691.781) |
| = | 0.223562 | / | 0.2077 |
| | = | 1.0764 |
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) |
| = | ((3474.201 + 359.786) / 6660.68) | / | ((3686.307 + 218.249) / 6911.775) |
| = | 0.575615 | / | 0.564914 |
| | = | 1.0189 |
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 |
| = | (223.213 - 52.838 | - | 648.176) | / | 6660.68 |
| | = | -0.071735 |
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.
Cable One has a M-score of -3.15 suggests that the company is unlikely to be a manipulator.
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