Omnicom Group Beneish M-Score Historical Data
The historical data trend for Omnicom 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.
Omnicom Group Beneish M-Score Chart
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Omnicom Group Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.55 |
-2.55 |
-2.42 |
-2.41 |
-2.47 |
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Omnicom Group Quarterly Data
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Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-2.41 |
-2.35 |
-2.37 |
-2.39 |
-2.47 |
Competitive Comparison of Omnicom Group's Beneish M-Score
For the Advertising Agencies subindustry, Omnicom 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.
Omnicom Group's Beneish M-Score Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Omnicom Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Omnicom Group's Beneish M-Score falls into.
Omnicom Group 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 Omnicom 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 * 0.9994 | + | 0.528 * 0.9894 | + | 0.404 * 1.0165 | + | 0.892 * 1.0679 | + | 0.115 * 0.8642 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9707 | + | 4.679 * -0.008045 | - | 0.327 * 0.9968 |
| = | -2.47 |
* 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 $9,242 Mil.
Revenue was 4322.2 + 3882.6 + 3853.8 + 3630.5 = $15,689 Mil.
Gross Profit was 857.9 + 761 + 681.7 + 623.8 = $2,924 Mil.
Total Current Assets was $16,223 Mil.
Total Assets was $29,621 Mil.
Property, Plant and Equipment(Net PPE) was $1,868 Mil.
Depreciation, Depletion and Amortization(DDA) was $242 Mil.
Selling, General, & Admin. Expense(SGA) was $408 Mil.
Total Current Liabilities was $16,300 Mil.
Long-Term Debt & Capital Lease Obligation was $6,850 Mil.
Net Income was 448 + 385.9 + 328.1 + 318.6 = $1,481 Mil.
Non Operating Income was -14.6 + 0 + 0 + 0 = $-15 Mil.
Cash Flow from Operations was 1925 + 568.7 + -141.7 + -618.5 = $1,734 Mil.
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Total Receivables was $8,660 Mil.
Revenue was 4060.9 + 3578.1 + 3609.9 + 3443.3 = $14,692 Mil.
Gross Profit was 816 + 703 + 700.9 + 489.6 = $2,710 Mil.
Total Current Assets was $15,384 Mil.
Total Assets was $28,045 Mil.
Property, Plant and Equipment(Net PPE) was $1,921 Mil.
Depreciation, Depletion and Amortization(DDA) was $211 Mil.
Selling, General, & Admin. Expense(SGA) was $394 Mil.
Total Current Liabilities was $16,246 Mil.
Long-Term Debt & Capital Lease Obligation was $5,742 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) |
| = | (9242 / 15689.1) | / | (8659.8 / 14692.2) |
| = | 0.589071 | / | 0.589415 |
| | = | 0.9994 |
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) |
| = | (2709.5 / 14692.2) | / | (2924.4 / 15689.1) |
| = | 0.184418 | / | 0.186397 |
| | = | 0.9894 |
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 - (16223 + 1868.3) / 29620.7) | / | (1 - (15384.2 + 1921.3) / 28044.6) |
| = | 0.389235 | / | 0.382929 |
| | = | 1.0165 |
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 |
| = | 15689.1 | / | 14692.2 |
| | = | 1.0679 |
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)) |
| = | (211.1 / (211.1 + 1921.3)) | / | (241.7 / (241.7 + 1868.3)) |
| = | 0.098996 | / | 0.11455 |
| | = | 0.8642 |
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) |
| = | (408.1 / 15689.1) | / | (393.7 / 14692.2) |
| = | 0.026012 | / | 0.026797 |
| | = | 0.9707 |
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) |
| = | ((6849.5 + 16300.3) / 29620.7) | / | ((5742.1 + 16246) / 28044.6) |
| = | 0.781541 | / | 0.78404 |
| | = | 0.9968 |
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 |
| = | (1480.6 - -14.6 | - | 1733.5) | / | 29620.7 |
| | = | -0.008045 |
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.
Omnicom Group has a M-score of -2.47 suggests that the company is unlikely to be a manipulator.
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