Sirius XM Holdings Beneish M-Score Historical Data
The historical data trend for Sirius XM Holdings'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.
Sirius XM Holdings Beneish M-Score Chart
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Sirius XM Holdings Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.92 |
-2.69 |
-3.09 |
-2.18 |
-2.48 |
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Sirius XM Holdings 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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-2.18 |
-2.63 |
-2.76 |
-2.10 |
-2.48 |
Competitive Comparison of Sirius XM Holdings's Beneish M-Score
For the Entertainment subindustry, Sirius XM Holdings'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.
Sirius XM Holdings's Beneish M-Score Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Sirius XM Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sirius XM Holdings's Beneish M-Score falls into.
Sirius XM Holdings 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 Sirius XM Holdings 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 * 0.9813 | + | 0.528 * 1.0142 | + | 0.404 * 0.9849 | + | 0.892 * 0.9716 | + | 0.115 * 1.1941 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9327 | + | 4.679 * 0.002507 | - | 0.327 * 1.0159 |
| = | -2.48 |
* 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 $676 Mil.
Revenue was 2188 + 2171 + 2178 + 2162 = $8,699 Mil.
Gross Profit was 1050 + 1055 + 1063 + 1035 = $4,203 Mil.
Total Current Assets was $1,149 Mil.
Total Assets was $27,521 Mil.
Property, Plant and Equipment(Net PPE) was $2,109 Mil.
Depreciation, Depletion and Amortization(DDA) was $622 Mil.
Selling, General, & Admin. Expense(SGA) was $1,373 Mil.
Total Current Liabilities was $2,731 Mil.
Long-Term Debt & Capital Lease Obligation was $10,314 Mil.
Net Income was 287 + -2456 + 316 + 265 = $-1,588 Mil.
Non Operating Income was -6 + -3360 + -16 + -16 = $-3,398 Mil.
Cash Flow from Operations was 679 + 240 + 514 + 308 = $1,741 Mil.
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Total Receivables was $709 Mil.
Revenue was 2288 + 2271 + 2250 + 2144 = $8,953 Mil.
Gross Profit was 1134 + 1127 + 1096 + 1030 = $4,387 Mil.
Total Current Assets was $1,361 Mil.
Total Assets was $30,056 Mil.
Property, Plant and Equipment(Net PPE) was $1,791 Mil.
Depreciation, Depletion and Amortization(DDA) was $669 Mil.
Selling, General, & Admin. Expense(SGA) was $1,515 Mil.
Total Current Liabilities was $3,951 Mil.
Long-Term Debt & Capital Lease Obligation was $10,073 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) |
| = | (676 / 8699) | / | (709 / 8953) |
| = | 0.07771 | / | 0.079191 |
| | = | 0.9813 |
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) |
| = | (4387 / 8953) | / | (4203 / 8699) |
| = | 0.490003 | / | 0.483159 |
| | = | 1.0142 |
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 - (1149 + 2109) / 27521) | / | (1 - (1361 + 1791) / 30056) |
| = | 0.881618 | / | 0.895129 |
| | = | 0.9849 |
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 |
| = | 8699 | / | 8953 |
| | = | 0.9716 |
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)) |
| = | (669 / (669 + 1791)) | / | (622 / (622 + 2109)) |
| = | 0.271951 | / | 0.227755 |
| | = | 1.1941 |
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) |
| = | (1373 / 8699) | / | (1515 / 8953) |
| = | 0.157834 | / | 0.169217 |
| | = | 0.9327 |
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) |
| = | ((10314 + 2731) / 27521) | / | ((10073 + 3951) / 30056) |
| = | 0.474002 | / | 0.466596 |
| | = | 1.0159 |
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 |
| = | (-1588 - -3398 | - | 1741) | / | 27521 |
| | = | 0.002507 |
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.
Sirius XM Holdings has a M-score of -2.48 suggests that the company is unlikely to be a manipulator.
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