HSII has been successfully added to your Stock Email Alerts list.
You can manage your stock email alerts here.
HSII has been removed from your Stock Email Alerts list.
Please enter Portfolio Name for new portfolio.
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 -2.87 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Heidrick & Struggles International's Beneish M-Score or its related term are showing as below:
During the past 13 years, the highest Beneish M-Score of Heidrick & Struggles International was -1.97. The lowest was -2.87. And the median was -2.59.
The historical data trend for Heidrick & Struggles International'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.
Heidrick & Struggles International Annual Data | |||||||||||||||||||||
Trend | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | Dec24 | |||||||||||
Beneish M-Score | Get a 7-Day Free Trial |
![]() |
![]() |
-2.55 | -2.71 | -2.80 | -1.97 | -2.87 |
Heidrick & Struggles International Quarterly Data | ||||||||||||||||||||
Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Sep24 | Dec24 | |
Beneish M-Score | Get a 7-Day Free Trial |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
-1.97 | -2.76 | -2.88 | -2.73 | -2.87 |
For the Staffing & Employment Services subindustry, Heidrick & Struggles International'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 Business Services industry and Industrials sector, Heidrick & Struggles International's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Heidrick & Struggles International'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 Heidrick & Struggles International 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 * 0.9154 | + | 0.528 * 1.0525 | + | 0.404 * 0.8372 | + | 0.892 * 1.0715 | + | 0.115 * 1.0776 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 0.9959 | + | 4.679 * -0.070331 | - | 0.327 * 1.0471 | |||||||
= | -2.87 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was $141 Mil. Revenue was 280.886 + 282.815 + 282.877 + 269.098 = $1,116 Mil. Gross Profit was 69.796 + 68.76 + 75.289 + 67.253 = $281 Mil. Total Current Assets was $773 Mil. Total Assets was $1,194 Mil. Property, Plant and Equipment(Net PPE) was $135 Mil. Depreciation, Depletion and Amortization(DDA) was $19 Mil. Selling, General, & Admin. Expense(SGA) was $167 Mil. Total Current Liabilities was $483 Mil. Long-Term Debt & Capital Lease Obligation was $83 Mil. Net Income was -14.976 + 14.829 + -5.157 + 14.032 = $9 Mil. Non Operating Income was -37.565 + -0.555 + -22.166 + 2.571 = $-58 Mil. Cash Flow from Operations was 190.188 + 101.145 + 62.522 + -203.424 = $150 Mil. |
Total Receivables was $144 Mil. Revenue was 257.39 + 267.896 + 273.777 + 242.119 = $1,041 Mil. Gross Profit was 76.133 + 69.997 + 69.555 + 60.428 = $276 Mil. Total Current Assets was $693 Mil. Total Assets was $1,142 Mil. Property, Plant and Equipment(Net PPE) was $122 Mil. Depreciation, Depletion and Amortization(DDA) was $19 Mil. Selling, General, & Admin. Expense(SGA) was $156 Mil. Total Current Liabilities was $439 Mil. Long-Term Debt & Capital Lease Obligation was $78 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) |
= | (140.801 / 1115.676) | / | (143.538 / 1041.182) | |
= | 0.126202 | / | 0.137861 | |
= | 0.9154 |
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) | |
= | (276.113 / 1041.182) | / | (281.098 / 1115.676) | |
= | 0.265192 | / | 0.251953 | |
= | 1.0525 |
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 - (772.977 + 135.203) / 1194.188) | / | (1 - (693.214 + 121.815) / 1141.591) | |
= | 0.2395 | / | 0.286059 | |
= | 0.8372 |
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 | |
= | 1115.676 | / | 1041.182 | |
= | 1.0715 |
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)) |
= | (18.508 / (18.508 + 121.815)) | / | (18.857 / (18.857 + 135.203)) | |
= | 0.131896 | / | 0.1224 | |
= | 1.0776 |
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) |
= | (166.995 / 1115.676) | / | (156.494 / 1041.182) | |
= | 0.149681 | / | 0.150304 | |
= | 0.9959 |
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) |
= | ((83.152 + 483.013) / 1194.188) | / | ((78.204 + 438.691) / 1141.591) | |
= | 0.4741 | / | 0.452785 | |
= | 1.0471 |
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 | |
= | (8.728 - -57.715 | - | 150.431) | / | 1194.188 | |
= | -0.070331 |
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.
Heidrick & Struggles International has a M-score of -2.87 suggests that the company is unlikely to be a manipulator.
Thank you for viewing the detailed overview of Heidrick & Struggles International's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Mark R Harris | officer: Chief Financial Officer | C/O HERCULES TECHNOLOGY GROWTH CAPITAL, 400 HAMILTON AVENUE, SUITE 310, PALO ALTO CA 94301 |
Sarah Payne | officer: Chief Human Resources Officer | 233 S. WACKER DRIVE, SUITE 4900, CHICAGO IL 60606 |
John L Berisford | director | C/O THE PEPSI BOTTLING GROUP, INC., ONE PEPSI WAY, SOMERS NY 10589 |
Michael M Cullen | officer: Chief Operating Officer | 233 S. WACKER DRIVE, SUITE 4900, CHICAGO IL 60606 |
Tracey Heaton | officer: Chief Legal Officer & Corp Sec | C/O HEIDRICK & STRUGGLES INT'L, INC., 233 S. WACKER DR. SUITE 4900, CHICAGO IL 60606 |
Bear Mary E.g. | director | C/O IMPERVA, INC., 3400 BRIDGE PARKWAY, STE. 200, REDWOOD SHORES CA 94065 |
Krishnan Rajagopalan | officer: President and CEO | 2001 PENNSYLVANIA AVENUE, SUITE 800, WASHINGTON DC 20006 |
Elizabeth L Axelrod | director | C/O EBAY INC., 2065 HAMILTON AVENUE, SAN JOSE CA 95125 |
Willem Mesdag | director | C/O RED MOUNTAIN CAPITAL MANAGEMENT INC., 10100 SANTA MONICA BOULEVARD, SUITE 925, LOS ANGELES CA 90067 |
Stacey Rauch | director | C/O ASCENA RETAIL GROUP, INC., 933 MACARTHUR BOULEVARD, MAHWAH NJ 07430 |
Adam Warby | director | 2211 ELLIOTT AVE. SUITE 200, SEATTLE WA 98121 |
Lyle Logan | director | ONE TOWER LANE, OAKBROOK TERRACE IL 60181 |
Clare M. Chapman | director | 233 S. WACKER DRIVE, SUITE 4900, CHICAGO IL 60606 |
Laszlo Bock | director | 233 S. WACKER DRIVE, SUITE 4900, CHICAGO IL 60606 |
Kamau Coar | officer: General Counsel and Secretary | 233 S. WACKER DRIVE, SUITE 4900, CHICAGO IL 60606 |
From GuruFocus
By PRNewswire • 09-24-2024
By GuruFocus News • 11-05-2024
By GuruFocus Research • 08-02-2024
By PRNewswire • 11-04-2024
By PRNewswire • 09-06-2024
By PRNewswire • 12-10-2024
By PRNewswire • 07-15-2024
By GuruFocus Research • 05-07-2024
By GuruFocus News • 11-05-2024
By PRNewswire • 06-17-2024
Disclaimers: GuruFocus.com is not operated by a broker or a dealer. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. This investment adviser does not provide advice to individual investors. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.