Genesis Healthcare Beneish M-Score Historical Data
The historical data trend for Genesis Healthcare'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.
Genesis Healthcare Beneish M-Score Chart
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Genesis Healthcare Annual Data
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Trend |
Dec11 |
Dec12 |
Dec13 |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
| Beneish M-Score |
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-2.65 |
-3.03 |
-2.67 |
-2.79 |
-3.41 |
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Genesis Healthcare Quarterly Data
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Mar16 |
Jun16 |
Sep16 |
Dec16 |
Mar17 |
Jun17 |
Sep17 |
Dec17 |
Mar18 |
Jun18 |
Sep18 |
Dec18 |
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
| Beneish M-Score |
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-2.79 |
-2.74 |
-3.34 |
-3.23 |
-3.41 |
GENNQ vs AIH, JYNT, AVCO: Beneish M-Score Comparison
For the Medical Care Facilities subindustry, Genesis Healthcare'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.
Genesis Healthcare Beneish M-Score vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Genesis Healthcare's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Genesis Healthcare's Beneish M-Score falls into.
Genesis Healthcare 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 Genesis Healthcare 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 * 0.8791 | + | 0.528 * 1.0789 | + | 0.404 * 1.2281 | + | 0.892 * 0.8555 | + | 0.115 * 0.9197 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1905 | + | 4.679 * -0.165655 | - | 0.327 * 1.0232 |
| = | -3.41 |
* 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 (Dec20) TTM: | Last Year (Dec19) TTM: |
Total Receivables was $427 Mil.
Revenue was 919.061 + 938.653 + 956.259 + 1092.25 = $3,906 Mil.
Gross Profit was 395.347 + 403.644 + 339.315 + 511.717 = $1,650 Mil.
Total Current Assets was $869 Mil.
Total Assets was $4,062 Mil.
Property, Plant and Equipment(Net PPE) was $2,728 Mil.
Depreciation, Depletion and Amortization(DDA) was $108 Mil.
Selling, General, & Admin. Expense(SGA) was $541 Mil.
Total Current Liabilities was $3,845 Mil.
Long-Term Debt & Capital Lease Obligation was $830 Mil.
Net Income was -7.673 + -62.793 + -22.005 + 33.508 = $-59 Mil.
Non Operating Income was 81.659 + -0.024 + 150.073 + 66.531 = $298 Mil.
Cash Flow from Operations was 34.573 + -59.439 + 325.347 + 15.25 = $316 Mil.
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Total Receivables was $568 Mil.
Revenue was 1135.437 + 1123.705 + 1145.052 + 1161.64 = $4,566 Mil.
Gross Profit was 539.489 + 503.212 + 518.893 + 519.23 = $2,081 Mil.
Total Current Assets was $829 Mil.
Total Assets was $4,662 Mil.
Property, Plant and Equipment(Net PPE) was $3,399 Mil.
Depreciation, Depletion and Amortization(DDA) was $123 Mil.
Selling, General, & Admin. Expense(SGA) was $532 Mil.
Total Current Liabilities was $1,071 Mil.
Long-Term Debt & Capital Lease Obligation was $4,172 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) |
| = | (426.927 / 3906.223) | / | (567.636 / 4565.834) |
| = | 0.109294 | / | 0.124323 |
| | = | 0.8791 |
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) |
| = | (2080.824 / 4565.834) | / | (1650.023 / 3906.223) |
| = | 0.455738 | / | 0.422409 |
| | = | 1.0789 |
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 - (869.13 + 2728.092) / 4062.246) | / | (1 - (828.847 + 3398.707) / 4662.14) |
| = | 0.114475 | / | 0.093216 |
| | = | 1.2281 |
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 |
| = | 3906.223 | / | 4565.834 |
| | = | 0.8555 |
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)) |
| = | (123.159 / (123.159 + 3398.707)) | / | (107.833 / (107.833 + 2728.092)) |
| = | 0.03497 | / | 0.038024 |
| | = | 0.9197 |
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) |
| = | (541.396 / 3906.223) | / | (531.534 / 4565.834) |
| = | 0.138598 | / | 0.116416 |
| | = | 1.1905 |
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) |
| = | ((829.588 + 3844.714) / 4062.246) | / | ((4171.732 + 1071.17) / 4662.14) |
| = | 1.150669 | / | 1.12457 |
| | = | 1.0232 |
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 |
| = | (-58.963 - 298.239 | - | 315.731) | / | 4062.246 |
| | = | -0.165655 |
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.
Genesis Healthcare has a M-score of -3.41 suggests that the company is unlikely to be a manipulator.
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