GAMI (GAMCO Investors) Beneish M-Score : 0.00 (As of Mar. 24, 2025)

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What is GAMCO Investors 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 GAMCO Investors's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of GAMCO Investors was -1.02. The lowest was -7.61. And the median was -2.61.

GAMCO Investors Beneish M-Score Historical Data

The historical data trend for GAMCO Investors'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.

GAMCO Investors Beneish M-Score Chart

GAMCO Investors Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-2.35

-1.64

-2.79

-2.17

-2.47

GAMCO Investors Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-2.96	-2.47	-2.45	-2.42	-

Competitive Comparison of GAMCO Investors's Beneish M-Score

For the Asset Management subindustry, GAMCO Investors'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.

GAMCO Investors's Beneish M-Score Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, GAMCO Investors's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where GAMCO Investors's Beneish M-Score falls into.

GAMCO Investors 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 GAMCO Investors 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was $21.5 Mil.
Revenue was 63.863 + 60.469 + 61.61 + 63.793 = $249.7 Mil.
Gross Profit was 38.78 + 29.442 + 30.865 + 34.033 = $133.1 Mil.
Total Current Assets was $222.9 Mil.
Total Assets was $301.4 Mil.
Property, Plant and Equipment(Net PPE) was $2.9 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.9 Mil.
Selling, General, & Admin. Expense(SGA) was $23.5 Mil.
Total Current Liabilities was $140.8 Mil.
Long-Term Debt & Capital Lease Obligation was $5.2 Mil.
Net Income was 16.834 + 15.017 + 15.81 + 16.56 = $64.2 Mil.
Non Operating Income was -5 + 0 + 0 + 0 = $-5.0 Mil.
Cash Flow from Operations was 27.483 + 20.962 + 20.151 + -12.897 = $55.7 Mil.

Total Receivables was $0.0 Mil.
Revenue was 60.065 + 62.745 + 62.128 + 65.446 = $250.4 Mil.
Gross Profit was 29.893 + 32.492 + 30.906 + 34.743 = $128.0 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $0.0 Mil.
Property, Plant and Equipment(Net PPE) was $0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.2 Mil.
Selling, General, & Admin. Expense(SGA) was $24.3 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 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)
	=	(21.463 / 249.735)	/	(0 / 250.384)
	=	0.085943	/	0
	=

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)
	=	(128.034 / 250.384)	/	(133.12 / 249.735)
	=	0.511351	/	0.533045
	=

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 - (222.855 + 2.944) / 301.37)	/	(1 - (0 + 0) / 0)
	=	0.250758	/
	=

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
	=	249.735	/	250.384
	=

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))
	=	(1.166 / (1.166 + 0))	/	(0.919 / (0.919 + 2.944))
	=	1	/	0.237898
	=

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)
	=	(23.54 / 249.735)	/	(24.294 / 250.384)
	=	0.09426	/	0.097027
	=

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)
	=	((5.241 + 140.813) / 301.37)	/	((0 + 0) / 0)
	=	0.484634	/
	=

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
	=	(64.221 - -5	-	55.699)	/	301.37
	=	0.044868

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.

GAMCO Investors Beneish M-Score Related Terms

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GAMCO Investors Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » GAMCO Investors Inc (OTCPK:GAMI) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

6JV:Germany

Address

191 Mason Street, Greenwich, CT, USA, 06830

Website

https://www.gabelli.com

GAMCO Investors Inc is a provider of investment advisory services to open-end funds, closed-end funds, Exchange Traded Managed Funds (ETMFs), and institutional and private wealth management investors principally in the United States. The company invests in a variety of U.S. and international securities through various investment styles including value, growth, non-market correlated, and convertible securities. Its revenues are based on the company's levels of assets under management (AUM) and fees associated with its various investment products. Its AUM are organized into three groups; Open and Closed-End Funds; Institutional and Private Wealth Management; and SICAV.

Executives

Ggcp, Inc.	10 percent owner	189 MASON STREET, GREENWICH CT 06830
Alexis Glick	director	C/O GAMCO INVESTORS, INC., ONE CORPORATE CENTER, RYE NY 10580
Associated Capital Group, Inc.	10 percent owner	191 MASON STREET, GREENWICH CT 06830
Kieran Caterina	officer: Acting Co-CFO	ONE CORPORATE CENTER, RYE NY 10580
Van Der Eb Henry	other: Senior Vice President	100 CORPORATE NORTH, SUITE 201, BANNOCKBURN IL 60015
Peter D. Goldstein	officer: General Counsel	249 ROYAL PALM WAY, SUITE 503, PALM BEACH FL 33480
Mario J Gabelli	director, 10 percent owner, officer: Chairman of the Board and CEO	191 MASON STREET, GREENWICH CT 06830
Leslie B Daniels	director	540 MADISON, 22ND FLOOR, NEW YORK NY 10022
Elisa M. Wilson	director	C/O GAMCO INVESTORS, INC., ONE CORPORATE CENTER, RYE NY 10580
Raymond Avansino	director	C/O ONE CORPORTATE CENTER, RYE NY 10580
Frederick J. Mancheski Revocable Trust Indenture, Dated June 8, 1999, As Amended	10 percent owner	C/O COLLIER, HALPERN & NEWBERG, LLP, ONE NORTH LEXINGTON AVENUE, 15TH FLOOR, WHITE PLAINS NY 10601
Diane Lapointe	officer: Acting Co-CFO	ONE CORPORATE CENTER, RYE NY 10580
Ggcp Holdings Llc	10 percent owner	140 GREENWICH AVENUE, GREENWICH CT 06830
Gabelli Securities Inc	10 percent owner	ONE CORPORATE CENTER, RYE NY 10580
Kevin Handwerker	officer: Executive VP & General Counsel