Dentalcorp Holdings Beneish M-Score Historical Data
The historical data trend for Dentalcorp Holdings'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.
Dentalcorp Holdings Beneish M-Score Chart
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Dentalcorp Holdings Annual Data
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Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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0.00 |
-2.38 |
-2.37 |
-2.84 |
-2.65 |
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Dentalcorp Holdings Quarterly Data
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Dec20 |
Mar21 |
Jun21 |
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Dec21 |
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Sep25 |
| Beneish M-Score |
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-2.70 |
-2.65 |
-2.76 |
-2.79 |
-2.81 |
FRA:6A7 vs HCA, THC, UHS: Beneish M-Score Comparison
For the Medical Care Facilities subindustry, Dentalcorp Holdings'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.
Dentalcorp Holdings Beneish M-Score vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Dentalcorp Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Dentalcorp Holdings's Beneish M-Score falls into.
Dentalcorp Holdings 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 Dentalcorp Holdings 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 * 0.8634 | + | 0.528 * 0.9895 | + | 0.404 * 0.9943 | + | 0.892 * 1.0427 | + | 0.115 * 1.1338 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0083 | + | 4.679 * -0.069662 | - | 0.327 * 1.0062 |
| = | -2.89 |
* 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 (Sep25) TTM: | Last Year (Sep24) TTM: |
Total Receivables was €52 Mil.
Revenue was 258.729 + 276.06 + 263.789 + 266.451 = €1,065 Mil.
Gross Profit was 130.011 + 138.284 + 132.088 + 133.862 = €534 Mil.
Total Current Assets was €120 Mil.
Total Assets was €2,138 Mil.
Property, Plant and Equipment(Net PPE) was €315 Mil.
Depreciation, Depletion and Amortization(DDA) was €123 Mil.
Selling, General, & Admin. Expense(SGA) was €357 Mil.
Total Current Liabilities was €139 Mil.
Long-Term Debt & Capital Lease Obligation was €841 Mil.
Net Income was -3.018 + 0.571 + -6.572 + -8.781 = €-18 Mil.
Non Operating Income was -2.156 + -1.586 + -6.25 + -8.781 = €-19 Mil.
Cash Flow from Operations was 40.278 + 46.243 + 33.57 + 29.829 = €150 Mil.
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Total Receivables was €58 Mil.
Revenue was 249.694 + 271.006 + 253.109 + 247.568 = €1,021 Mil.
Gross Profit was 124.049 + 135.639 + 126.69 + 120.572 = €507 Mil.
Total Current Assets was €142 Mil.
Total Assets was €2,205 Mil.
Property, Plant and Equipment(Net PPE) was €296 Mil.
Depreciation, Depletion and Amortization(DDA) was €138 Mil.
Selling, General, & Admin. Expense(SGA) was €340 Mil.
Total Current Liabilities was €119 Mil.
Long-Term Debt & Capital Lease Obligation was €885 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) |
| = | (51.98 / 1065.029) | / | (57.734 / 1021.377) |
| = | 0.048806 | / | 0.056526 |
| | = | 0.8634 |
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) |
| = | (506.95 / 1021.377) | / | (534.245 / 1065.029) |
| = | 0.49634 | / | 0.501625 |
| | = | 0.9895 |
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 - (119.541 + 314.65) / 2138.13) | / | (1 - (141.675 + 295.921) / 2204.743) |
| = | 0.79693 | / | 0.801521 |
| | = | 0.9943 |
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 |
| = | 1065.029 | / | 1021.377 |
| | = | 1.0427 |
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)) |
| = | (138.205 / (138.205 + 295.921)) | / | (122.838 / (122.838 + 314.65)) |
| = | 0.318352 | / | 0.28078 |
| | = | 1.1338 |
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) |
| = | (357.031 / 1065.029) | / | (339.564 / 1021.377) |
| = | 0.335231 | / | 0.332457 |
| | = | 1.0083 |
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) |
| = | ((840.73 + 138.941) / 2138.13) | / | ((885.103 + 118.861) / 2204.743) |
| = | 0.458191 | / | 0.455366 |
| | = | 1.0062 |
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 |
| = | (-17.8 - -18.773 | - | 149.92) | / | 2138.13 |
| | = | -0.069662 |
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.
Dentalcorp Holdings has a M-score of -2.89 suggests that the company is unlikely to be a manipulator.
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