Dunkin' Brands Group (FRA:2DB) Beneish M-Score : 0.00 (As of May. 25, 2024)

View and export this data going back to . Start your Free Trial

What is Dunkin' Brands Group Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

The historical rank and industry rank for Dunkin' Brands Group's Beneish M-Score or its related term are showing as below:

During the past 11 years, the highest Beneish M-Score of Dunkin' Brands Group was 0.00. The lowest was 0.00. And the median was 0.00.

Dunkin' Brands Group Beneish M-Score Historical Data

The historical data trend for Dunkin' Brands 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.

* Premium members only.

Dunkin' Brands Group Beneish M-Score Chart

Dunkin' Brands Group Annual Data

Trend

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Beneish M-Score

Get a 7-Day Free Trial

-2.77

-2.74

-2.08

-2.45

-2.40

Dunkin' Brands Group Quarterly Data
	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20
Beneish M-Score	Get a 7-Day Free Trial															-2.37	-2.40	-2.43	-2.28	-2.54

Competitive Comparison of Dunkin' Brands Group's Beneish M-Score

For the Restaurants subindustry, Dunkin' Brands 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.

Dunkin' Brands Group's Beneish M-Score Distribution in the Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Dunkin' Brands Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Dunkin' Brands Group's Beneish M-Score falls into.

Dunkin' Brands 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 Dunkin' Brands Group for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.1713

0.528 * 0.9982

0.404 * 0.9785

0.892 * 0.9605

0.115 * 0.8389

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0183

4.679 * -0.020827

0.327 * 0.9842

-2.48

This Year (Sep20) TTM:

Last Year (Sep19) TTM:

Total Receivables was €121 Mil.
Revenue was 306.95 + 255.19 + 292.445 + 302.325 = €1,157 Mil.
Gross Profit was 290.585 + 239.218 + 276.021 + 287.883 = €1,094 Mil.
Total Current Assets was €775 Mil.
Total Assets was €3,302 Mil.
Property, Plant and Equipment(Net PPE) was €480 Mil.
Depreciation, Depletion and Amortization(DDA) was €41 Mil.
Selling, General, & Admin. Expense(SGA) was €708 Mil.
Total Current Liabilities was €479 Mil.
Long-Term Debt & Capital Lease Obligation was €2,844 Mil.
Net Income was 62.799 + 32.368 + 47.162 + 51.943 = €194 Mil.
Non Operating Income was 6.209 + 3.562 + 2.644 + 3.668 = €16 Mil.
Cash Flow from Operations was 111.221 + 43.491 + -33.716 + 125.96 = €247 Mil.

Total Receivables was €108 Mil.
Revenue was 323.141 + 318.013 + 282.396 + 280.949 = €1,204 Mil.
Gross Profit was 304.013 + 298.527 + 267.669 + 266.485 = €1,137 Mil.
Total Current Assets was €726 Mil.
Total Assets was €3,452 Mil.
Property, Plant and Equipment(Net PPE) was €540 Mil.
Depreciation, Depletion and Amortization(DDA) was €38 Mil.
Selling, General, & Admin. Expense(SGA) was €724 Mil.
Total Current Liabilities was €447 Mil.
Long-Term Debt & Capital Lease Obligation was €3,083 Mil.

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)
	=	(121.275 / 1156.91)	/	(107.803 / 1204.499)
	=	0.104827	/	0.0895
	=	1.1713

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)
	=	(1136.694 / 1204.499)	/	(1093.707 / 1156.91)
	=	0.943707	/	0.945369
	=	0.9982

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 - (774.74 + 480.079) / 3301.764)	/	(1 - (725.536 + 539.515) / 3452.38)
	=	0.619955	/	0.633571
	=	0.9785

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
	=	1156.91	/	1204.499
	=	0.9605

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))
	=	(38.12 / (38.12 + 539.515))	/	(40.989 / (40.989 + 480.079))
	=	0.065993	/	0.078663
	=	0.8389

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)
	=	(708.025 / 1156.91)	/	(723.876 / 1204.499)
	=	0.611997	/	0.600977
	=	1.0183

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)
	=	((2843.776 + 479.157) / 3301.764)	/	((3083.074 + 447.215) / 3452.38)
	=	1.006411	/	1.022567
	=	0.9842

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
	=	(194.272 - 16.083	-	246.956)	/	3301.764
	=	-0.020827

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.

Dunkin' Brands Group has a M-score of -2.48 suggests that the company is unlikely to be a manipulator.

Dunkin' Brands Group Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Dunkin' Brands Group's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Dunkin' Brands Group (FRA:2DB) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Restaurants » Dunkin' Brands Group Inc (FRA:2DB) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

130 Royall Street, Canton, MA, USA, 02021

Website

https://www.dunkinbrands.com

Dunkin' Brands, through Dunkin' Donuts (83% of system sales) and Baskin-Robbins (17%), generates revenue through franchise royalties and rent payments, sales of ice cream products to franchisees, and sales at company-owned stores. Based on systemwide sales of $12.2 billion in 2019, Dunkin' is the second-largest global beverage and snack chain behind Starbucks. There are more than 13,100 Dunkin' Donuts (9,600 U.S. and 3,500 international) and almost 8,000 Baskin-Robbins locations worldwide (2,500 U.S. and 5,500 international). In October 2020, the company agreed to a $11.3 billion buyout by Roark Capital-backed Inspire Brands, the parent company of Arby's, Sonic, Buffalo Wild Wings, Jimmy John's and others.

Dunkin' Brands Group (FRA:2DB) Headlines

No Headlines