Sally Beauty Holdings Beneish M-Score Historical Data
The historical data trend for Sally Beauty 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.
Sally Beauty Holdings Beneish M-Score Chart
|
Sally Beauty Holdings Annual Data
|
|
Trend |
Sep14 |
Sep15 |
Sep16 |
Sep17 |
Sep18 |
Sep19 |
Sep20 |
Sep21 |
Sep22 |
Sep23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.42 |
-3.39 |
-2.52 |
-2.26 |
-2.51 |
|
Sally Beauty Holdings Quarterly Data
|
|
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.33 |
-2.28 |
-2.35 |
-2.51 |
-2.54 |
Competitive Comparison of Sally Beauty Holdings's Beneish M-Score
For the Specialty Retail subindustry, Sally Beauty 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.
Sally Beauty Holdings's Beneish M-Score Distribution in the Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Sally Beauty Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sally Beauty Holdings's Beneish M-Score falls into.
Sally Beauty 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 Sally Beauty 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 * 1.0634 | + | 0.528 * 0.9914 | + | 0.404 * 0.9994 | + | 0.892 * 0.9508 | + | 0.115 * 0.9665 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0264 | + | 4.679 * -0.024612 | - | 0.327 * 0.9282 |
| = | -2.57 |
* 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 €72 Mil.
Revenue was 854.004 + 863.311 + 859.32 + 858.077 = €3,435 Mil.
Gross Profit was 428.4 + 437.169 + 438.153 + 437.429 = €1,741 Mil.
Total Current Assets was €1,158 Mil.
Total Assets was €2,505 Mil.
Property, Plant and Equipment(Net PPE) was €767 Mil.
Depreciation, Depletion and Amortization(DDA) was €98 Mil.
Selling, General, & Admin. Expense(SGA) was €1,450 Mil.
Total Current Liabilities was €526 Mil.
Long-Term Debt & Capital Lease Obligation was €1,379 Mil.
Net Income was 35.204 + 39.898 + 46.908 + 38.164 = €160 Mil.
Non Operating Income was 0.078 + 0.817 + -0.366 + -6.794 = €-6 Mil.
Cash Flow from Operations was 46.785 + 109.198 + 49.033 + 23.067 = €228 Mil.
|
Total Receivables was €71 Mil.
Revenue was 903.46 + 972.085 + 909.548 + 827.539 = €3,613 Mil.
Gross Profit was 461.214 + 468.131 + 463.737 + 422.521 = €1,816 Mil.
Total Current Assets was €1,151 Mil.
Total Assets was €2,519 Mil.
Property, Plant and Equipment(Net PPE) was €785 Mil.
Depreciation, Depletion and Amortization(DDA) was €96 Mil.
Selling, General, & Admin. Expense(SGA) was €1,485 Mil.
Total Current Liabilities was €639 Mil.
Long-Term Debt & Capital Lease Obligation was €1,425 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) |
| = | (71.974 / 3434.712) | / | (71.189 / 3612.632) |
| = | 0.020955 | / | 0.019706 |
| | = | 1.0634 |
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) |
| = | (1815.603 / 3612.632) | / | (1741.151 / 3434.712) |
| = | 0.502571 | / | 0.506928 |
| | = | 0.9914 |
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 - (1158.046 + 767.105) / 2504.681) | / | (1 - (1150.926 + 784.972) / 2519.107) |
| = | 0.231379 | / | 0.231514 |
| | = | 0.9994 |
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 |
| = | 3434.712 | / | 3612.632 |
| | = | 0.9508 |
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)) |
| = | (96.086 / (96.086 + 784.972)) | / | (97.568 / (97.568 + 767.105)) |
| = | 0.109058 | / | 0.112838 |
| | = | 0.9665 |
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) |
| = | (1449.557 / 3434.712) | / | (1485.361 / 3612.632) |
| = | 0.422032 | / | 0.411158 |
| | = | 1.0264 |
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) |
| = | ((1379.376 + 525.504) / 2504.681) | / | ((1424.82 + 639.339) / 2519.107) |
| = | 0.760528 | / | 0.819401 |
| | = | 0.9282 |
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 |
| = | (160.174 - -6.265 | - | 228.083) | / | 2504.681 |
| | = | -0.024612 |
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.
Sally Beauty Holdings has a M-score of -2.57 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
FRA:S7V has been successfully added to your