Coca-Cola Consolidated Beneish M-Score Historical Data
The historical data trend for Coca-Cola Consolidated'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.
Coca-Cola Consolidated Beneish M-Score Chart
|
Coca-Cola Consolidated Annual Data
|
|
Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.96 |
-2.61 |
-2.48 |
-2.74 |
-2.77 |
|
Coca-Cola Consolidated 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.74 |
-2.75 |
-2.95 |
-2.79 |
-2.77 |
Competitive Comparison of Coca-Cola Consolidated's Beneish M-Score
For the Beverages - Non-Alcoholic subindustry, Coca-Cola Consolidated'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.
Coca-Cola Consolidated's Beneish M-Score Distribution in the Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, Coca-Cola Consolidated's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Coca-Cola Consolidated's Beneish M-Score falls into.
Coca-Cola Consolidated 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 Coca-Cola Consolidated 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 * 0.9998 | + | 0.528 * 0.9788 | + | 0.404 * 0.8139 | + | 0.892 * 1.0369 | + | 0.115 * 1.0197 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9416 | + | 4.679 * -0.034139 | - | 0.327 * 1.2772 |
| = | -2.77 |
* 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 $684 Mil.
Revenue was 1746.495 + 1765.652 + 1795.943 + 1591.626 = $6,900 Mil.
Gross Profit was 697.874 + 698.036 + 716.71 + 640.559 = $2,753 Mil.
Total Current Assets was $2,547 Mil.
Total Assets was $5,313 Mil.
Property, Plant and Equipment(Net PPE) was $1,621 Mil.
Depreciation, Depletion and Amortization(DDA) was $194 Mil.
Selling, General, & Admin. Expense(SGA) was $1,833 Mil.
Total Current Liabilities was $1,313 Mil.
Long-Term Debt & Capital Lease Obligation was $1,531 Mil.
Net Income was 178.948 + 115.624 + 172.812 + 165.741 = $633 Mil.
Non Operating Income was 31.279 + -69.305 + -28.535 + 4.713 = $-62 Mil.
Cash Flow from Operations was 168.464 + 270.762 + 242.858 + 194.273 = $876 Mil.
|
Total Receivables was $659 Mil.
Revenue was 1630.956 + 1712.428 + 1738.832 + 1571.642 = $6,654 Mil.
Gross Profit was 641.478 + 661.55 + 671.577 + 624.106 = $2,599 Mil.
Total Current Assets was $1,705 Mil.
Total Assets was $4,289 Mil.
Property, Plant and Equipment(Net PPE) was $1,448 Mil.
Depreciation, Depletion and Amortization(DDA) was $177 Mil.
Selling, General, & Admin. Expense(SGA) was $1,877 Mil.
Total Current Liabilities was $1,091 Mil.
Long-Term Debt & Capital Lease Obligation was $706 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) |
| = | (683.542 / 6899.716) | / | (659.342 / 6653.858) |
| = | 0.099068 | / | 0.099092 |
| | = | 0.9998 |
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) |
| = | (2598.711 / 6653.858) | / | (2753.179 / 6899.716) |
| = | 0.390557 | / | 0.399028 |
| | = | 0.9788 |
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 - (2547.302 + 1620.756) / 5313.139) | / | (1 - (1705.128 + 1448.056) / 4288.942) |
| = | 0.215519 | / | 0.264811 |
| | = | 0.8139 |
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 |
| = | 6899.716 | / | 6653.858 |
| | = | 1.0369 |
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)) |
| = | (176.966 / (176.966 + 1448.056)) | / | (193.791 / (193.791 + 1620.756)) |
| = | 0.108901 | / | 0.106799 |
| | = | 1.0197 |
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) |
| = | (1832.829 / 6899.716) | / | (1877.056 / 6653.858) |
| = | 0.265638 | / | 0.2821 |
| | = | 0.9416 |
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) |
| = | ((1531.357 + 1313.169) / 5313.139) | / | ((706.462 + 1091.334) / 4288.942) |
| = | 0.535376 | / | 0.41917 |
| | = | 1.2772 |
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 |
| = | (633.125 - -61.848 | - | 876.357) | / | 5313.139 |
| | = | -0.034139 |
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.
Coca-Cola Consolidated has a M-score of -2.77 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
LTS:0I0T has been successfully added to your