Americold Realty Trust Beneish M-Score Historical Data
The historical data trend for Americold Realty Trust'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.
Americold Realty Trust Beneish M-Score Chart
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Americold Realty Trust Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.47 |
-2.11 |
-2.35 |
-2.57 |
-2.77 |
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Americold Realty Trust 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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-2.57 |
-2.77 |
-2.62 |
-2.78 |
-2.77 |
Competitive Comparison of Americold Realty Trust's Beneish M-Score
For the REIT - Industrial subindustry, Americold Realty Trust'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.
Americold Realty Trust's Beneish M-Score Distribution in the REITs Industry
For the REITs industry and Real Estate sector, Americold Realty Trust's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Americold Realty Trust's Beneish M-Score falls into.
Americold Realty Trust 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 Americold Realty Trust 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 * 1.0934 | + | 0.528 * 0.8284 | + | 0.404 * 0.9972 | + | 0.892 * 0.9172 | + | 0.115 * 0.9268 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0701 | + | 4.679 * -0.040914 | - | 0.327 * 1.0091 |
| = | -2.77 |
* 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 $443 Mil.
Revenue was 679.291 + 667.939 + 649.61 + 676.489 = $2,673 Mil.
Gross Profit was 209.835 + 189.12 + 184.051 + 187.566 = $771 Mil.
Total Current Assets was $575 Mil.
Total Assets was $7,869 Mil.
Property, Plant and Equipment(Net PPE) was $247 Mil.
Depreciation, Depletion and Amortization(DDA) was $354 Mil.
Selling, General, & Admin. Expense(SGA) was $227 Mil.
Total Current Liabilities was $956 Mil.
Long-Term Debt & Capital Lease Obligation was $3,100 Mil.
Net Income was -226.841 + -2.088 + -104.724 + -2.562 = $-336 Mil.
Non Operating Income was -251.693 + -14.228 + -105.006 + -9.479 = $-380 Mil.
Cash Flow from Operations was 172.942 + 110.445 + 41.287 + 41.481 = $366 Mil.
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Total Receivables was $442 Mil.
Revenue was 721.504 + 757.78 + 729.756 + 705.695 = $2,915 Mil.
Gross Profit was 188.226 + 181.158 + 168.291 + 158.288 = $696 Mil.
Total Current Assets was $551 Mil.
Total Assets was $8,105 Mil.
Property, Plant and Equipment(Net PPE) was $276 Mil.
Depreciation, Depletion and Amortization(DDA) was $331 Mil.
Selling, General, & Admin. Expense(SGA) was $231 Mil.
Total Current Liabilities was $1,058 Mil.
Long-Term Debt & Capital Lease Obligation was $3,083 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) |
| = | (443.387 / 2673.329) | / | (442.145 / 2914.735) |
| = | 0.165856 | / | 0.151693 |
| | = | 1.0934 |
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) |
| = | (695.963 / 2914.735) | / | (770.572 / 2673.329) |
| = | 0.238774 | / | 0.288244 |
| | = | 0.8284 |
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 - (575.44 + 247.302) / 7869.252) | / | (1 - (550.995 + 276.219) / 8104.561) |
| = | 0.895449 | / | 0.897932 |
| | = | 0.9972 |
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 |
| = | 2673.329 | / | 2914.735 |
| | = | 0.9172 |
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)) |
| = | (331.446 / (331.446 + 276.219)) | / | (353.743 / (353.743 + 247.302)) |
| = | 0.545442 | / | 0.588547 |
| | = | 0.9268 |
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) |
| = | (226.786 / 2673.329) | / | (231.067 / 2914.735) |
| = | 0.084833 | / | 0.079275 |
| | = | 1.0701 |
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) |
| = | ((3100.487 + 956.269) / 7869.252) | / | ((3082.565 + 1057.695) / 8104.561) |
| = | 0.51552 | / | 0.510856 |
| | = | 1.0091 |
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 |
| = | (-336.215 - -380.406 | - | 366.155) | / | 7869.252 |
| | = | -0.040914 |
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.
Americold Realty Trust has a M-score of -2.77 suggests that the company is unlikely to be a manipulator.
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