DigitalBridge Group Beneish M-Score Historical Data
The historical data trend for DigitalBridge Group'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.
DigitalBridge Group Beneish M-Score Chart
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DigitalBridge Group Annual Data
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Trend |
Dec14 |
Dec15 |
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Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-1.94 |
-4.52 |
-0.13 |
-2.85 |
-0.66 |
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DigitalBridge Group Quarterly Data
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Dec19 |
Mar20 |
Jun20 |
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Mar21 |
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Mar22 |
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Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
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-2.84 |
-0.66 |
-1.86 |
1.41 |
12.92 |
Competitive Comparison of DigitalBridge Group's Beneish M-Score
For the Real Estate Services subindustry, DigitalBridge Group'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.
DigitalBridge Group's Beneish M-Score Distribution in the Real Estate Industry
For the Real Estate industry and Real Estate sector, DigitalBridge Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where DigitalBridge Group's Beneish M-Score falls into.
DigitalBridge Group 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 DigitalBridge Group 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 * 0.0642 | + | 0.528 * 15.0712 | + | 0.404 * 0.9815 | + | 0.892 * 10.2994 | + | 0.115 * 1.3289 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.1541 | + | 4.679 * 0.02101 | - | 0.327 * 0.2117 |
| = | 12.92 |
* 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 $101.1 Mil.
Revenue was 76.125 + 390.336 + 74.393 + 350.31 = $891.2 Mil.
Gross Profit was 76.125 + 390.336 + 74.393 + -27.375 = $513.5 Mil.
Total Current Assets was $412.8 Mil.
Total Assets was $3,542.9 Mil.
Property, Plant and Equipment(Net PPE) was $40.2 Mil.
Depreciation, Depletion and Amortization(DDA) was $93.6 Mil.
Selling, General, & Admin. Expense(SGA) was $575.3 Mil.
Total Current Liabilities was $57.9 Mil.
Long-Term Debt & Capital Lease Obligation was $340.7 Mil.
Net Income was 13.778 + 91.423 + -29.628 + 115.267 = $190.8 Mil.
Non Operating Income was 46.156 + 8.139 + -6.654 + -4.212 = $43.4 Mil.
Cash Flow from Operations was 35.901 + 22.526 + -27.009 + 41.557 = $73.0 Mil.
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Total Receivables was $153.0 Mil.
Revenue was 262.703 + 189.874 + 18.496 + -384.547 = $86.5 Mil.
Gross Profit was 376.871 + 321.449 + 147.283 + -94.224 = $751.4 Mil.
Total Current Assets was $723.2 Mil.
Total Assets was $6,872.1 Mil.
Property, Plant and Equipment(Net PPE) was $42.8 Mil.
Depreciation, Depletion and Amortization(DDA) was $566.8 Mil.
Selling, General, & Admin. Expense(SGA) was $362.5 Mil.
Total Current Liabilities was $445.1 Mil.
Long-Term Debt & Capital Lease Obligation was $3,207.1 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) |
| = | (101.142 / 891.164) | / | (152.953 / 86.526) |
| = | 0.113494 | / | 1.767711 |
| | = | 0.0642 |
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) |
| = | (751.379 / 86.526) | / | (513.479 / 891.164) |
| = | 8.683852 | / | 0.576189 |
| | = | 15.0712 |
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 - (412.845 + 40.178) / 3542.947) | / | (1 - (723.163 + 42.84) / 6872.091) |
| = | 0.872134 | / | 0.888534 |
| | = | 0.9815 |
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 |
| = | 891.164 | / | 86.526 |
| | = | 10.2994 |
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)) |
| = | (566.8 / (566.8 + 42.84)) | / | (93.57 / (93.57 + 40.178)) |
| = | 0.929729 | / | 0.699599 |
| | = | 1.3289 |
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) |
| = | (575.281 / 891.164) | / | (362.534 / 86.526) |
| = | 0.645539 | / | 4.189885 |
| | = | 0.1541 |
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) |
| = | ((340.747 + 57.872) / 3542.947) | / | ((3207.127 + 445.116) / 6872.091) |
| = | 0.112511 | / | 0.53146 |
| | = | 0.2117 |
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 |
| = | (190.84 - 43.429 | - | 72.975) | / | 3542.947 |
| | = | 0.02101 |
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.
DigitalBridge Group has a M-score of 12.92 signals that the company is likely to be a manipulator.
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