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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.
Good Sign:
Beneish M-Score -2.53 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for The Hain Celestial Group's Beneish M-Score or its related term are showing as below:
During the past 13 years, the highest Beneish M-Score of The Hain Celestial Group was -2.10. The lowest was -3.12. And the median was -2.59.
The historical data trend for The Hain Celestial 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.
The Hain Celestial Group Annual Data | |||||||||||||||||||||
Trend | Jun14 | Jun15 | Jun16 | Jun17 | Jun18 | Jun19 | Jun20 | Jun21 | Jun22 | Jun23 | |||||||||||
Beneish M-Score | Get a 7-Day Free Trial | -2.85 | -2.99 | -2.59 | -2.70 | -2.55 |
The Hain Celestial Group 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 | -2.31 | -2.23 | -2.55 | -2.63 | -2.53 |
For the Packaged Foods subindustry, The Hain Celestial 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.
For the Consumer Packaged Goods industry and Consumer Defensive sector, The Hain Celestial Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where The Hain Celestial Group's Beneish M-Score falls into.
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 The Hain Celestial Group 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 * 1.1309 | + | 0.528 * 1.0079 | + | 0.404 * 0.9643 | + | 0.892 * 0.9615 | + | 0.115 * 0.9147 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 1.0372 | + | 4.679 * -0.020797 | - | 0.327 * 1.0423 | |||||||
= | -2.53 |
* 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 $193 Mil. Revenue was 454.1 + 425.029 + 447.841 + 455.243 = $1,782 Mil. Gross Profit was 102.215 + 83.943 + 100.743 + 97.479 = $384 Mil. Total Current Assets was $599 Mil. Total Assets was $2,234 Mil. Property, Plant and Equipment(Net PPE) was $365 Mil. Depreciation, Depletion and Amortization(DDA) was $50 Mil. Selling, General, & Admin. Expense(SGA) was $293 Mil. Total Current Liabilities was $267 Mil. Long-Term Debt & Capital Lease Obligation was $888 Mil. Net Income was -13.535 + -10.376 + -18.699 + -115.727 = $-158 Mil. Non Operating Income was -27.493 + -6.832 + -20.761 + -160.955 = $-216 Mil. Cash Flow from Operations was 20.655 + 14.03 + 40.51 + 28.961 = $104 Mil. |
Total Receivables was $177 Mil. Revenue was 454.208 + 439.351 + 457.01 + 502.939 = $1,854 Mil. Gross Profit was 103.857 + 94.335 + 89.025 + 115.703 = $403 Mil. Total Current Assets was $605 Mil. Total Assets was $2,438 Mil. Property, Plant and Equipment(Net PPE) was $396 Mil. Depreciation, Depletion and Amortization(DDA) was $49 Mil. Selling, General, & Admin. Expense(SGA) was $294 Mil. Total Current Liabilities was $246 Mil. Long-Term Debt & Capital Lease Obligation was $963 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) |
= | (192.538 / 1782.213) | / | (177.058 / 1853.508) | |
= | 0.108033 | / | 0.095526 | |
= | 1.1309 |
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) | |
= | (402.92 / 1853.508) | / | (384.38 / 1782.213) | |
= | 0.217382 | / | 0.215676 | |
= | 1.0079 |
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 - (599.44 + 364.839) / 2233.634) | / | (1 - (605.301 + 396.009) / 2438.158) | |
= | 0.568291 | / | 0.589317 | |
= | 0.9643 |
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 | |
= | 1782.213 | / | 1853.508 | |
= | 0.9615 |
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)) |
= | (49.216 / (49.216 + 396.009)) | / | (50.154 / (50.154 + 364.839)) | |
= | 0.110542 | / | 0.120855 | |
= | 0.9147 |
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) |
= | (293.046 / 1782.213) | / | (293.848 / 1853.508) | |
= | 0.164428 | / | 0.158536 | |
= | 1.0372 |
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) |
= | ((887.697 + 267.48) / 2233.634) | / | ((963.387 + 246.447) / 2438.158) | |
= | 0.517174 | / | 0.496208 | |
= | 1.0423 |
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 | |
= | (-158.337 - -216.041 | - | 104.156) | / | 2233.634 | |
= | -0.020797 |
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 Hain Celestial Group has a M-score of -2.53 suggests that the company is unlikely to be a manipulator.
Thank you for viewing the detailed overview of The Hain Celestial Group's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Dawn M. Zier | director | 600 OFFICE CENTER DRIVE, FORT WASHINGTON PA 19034 |
Carlyn R. Taylor | director | 5215 N. O'CONNOR BLVD., SUITE 2300, IRVING TX 75039 |
Wendy P Davidson | director, officer: President and CEO | 2210 WEST OAKLAWN DRIVE, SPRINGDALE AR 72762 |
Steven R. Golliher | officer: Global Ch Supply Chain Officer | C/O THE HAIN CELESTIAL GROUP, INC., 4600 SLEEPYTIME DRIVE, BOULDER CO 80301 |
Lee A. Boyce | officer: EVP & Chief Financial Officer | C/O THE HAIN CELESTIAL GROUP, INC., 4600 SLEEPYTIME DRIVE, BOULDER CO 80301 |
Neil Campbell | director | C/O THE HAIN CELESTIAL GROUP, INC., 4600 SLEEPYTIME DRIVE, BOULDER CO 80301 |
Michael Ragusa | officer: SVP, Chief Accounting Officer | 200 LIBERTY STREET, 14TH FLOOR, NEW YORK NY 10281 |
Mark L. Schiller | officer: President and CEO | C/O THE HAIN CELESTIAL GROUP, INC., 1111 MARCUS AVENUE, LAKE SUCCESS NY 11042 |
Ameet Kumar | officer: SVP & Chief Accounting Officer | 606 CANTERFIELD PKWY W, WEST DUNDEE IL 60118 |
Glenn W. Welling | director | 610 NEWPORT CENTER DRIVE, SUITE 950, NEWPORT BEACH CA 92660 |
Chris Bellairs | officer: EVP & Chief Financial Officer | 2711 NORTH HASKELL AVENUE, SUITE 3400, DALLAS TX 75204 |
David Karch | officer: EVP & Chief Operating Officer | HARMAN INTERNATIONAL, 1101 PENNSYLVANIA AVE, NW, SUITE 1010, WASHINGTON DC 20004 |
Wolfgang Goldenitsch | officer: CEO, International | C/O THE HAIN CELESTIAL GROUP, INC., 1111 MARCUS AVENUE, LAKE SUCCESS NY 11042 |
Engaged Capital Llc | 10 percent owner | 610 NEWPORT CENTER DRIVE, SUITE 950, NEWPORT BEACH CA 92660 |
Engaged Capital Co-invest Vi-d, L.p. | other: See Footnote 1 | 610 NEWPORT CENTER DRIVE, SUITE 250, NEWPORT BEACH CA 92660 |
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