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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 -3.37 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Lulus Fashion Lounge Holdings's Beneish M-Score or its related term are showing as below:
During the past 5 years, the highest Beneish M-Score of Lulus Fashion Lounge Holdings was -1.79. The lowest was -4.01. And the median was -2.98.
The historical data trend for Lulus Fashion Lounge 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.
Lulus Fashion Lounge Holdings Annual Data | |||||||||||
Trend | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | ||||||
Beneish M-Score | - | - | - | -2.02 | -3.78 |
Lulus Fashion Lounge Holdings Quarterly Data | |||||||||||||||||||
Dec19 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Sep24 | |
Beneish M-Score | Get a 7-Day Free Trial |
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-3.07 | -3.78 | -3.86 | -4.01 | -3.37 |
For the Apparel Retail subindustry, Lulus Fashion Lounge 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.
For the Retail - Cyclical industry and Consumer Cyclical sector, Lulus Fashion Lounge Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Lulus Fashion Lounge Holdings'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 Lulus Fashion Lounge 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 * 1.274 | + | 0.528 * 0.994 | + | 0.404 * 1.0153 | + | 0.892 * 0.8748 | + | 0.115 * 0.7709 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 1.0665 | + | 4.679 * -0.202504 | - | 0.327 * 1.1542 | |||||||
= | -3.37 |
* 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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was $7.0 Mil. Revenue was 80.515 + 91.966 + 77.259 + 74.959 = $324.7 Mil. Gross Profit was 30.649 + 41.883 + 32.646 + 29.344 = $134.5 Mil. Total Current Assets was $65.3 Mil. Total Assets was $153.5 Mil. Property, Plant and Equipment(Net PPE) was $29.9 Mil. Depreciation, Depletion and Amortization(DDA) was $5.4 Mil. Selling, General, & Admin. Expense(SGA) was $159.8 Mil. Total Current Liabilities was $86.6 Mil. Long-Term Debt & Capital Lease Obligation was $21.0 Mil. Net Income was -6.879 + -10.796 + -5.736 + -7.23 = $-30.6 Mil. Non Operating Income was 0.281 + 0.272 + 0.226 + 0.217 = $1.0 Mil. Cash Flow from Operations was -5.504 + 3.69 + 6.947 + -5.679 = $-0.5 Mil. |
Total Receivables was $6.3 Mil. Revenue was 83.118 + 106.122 + 90.976 + 90.963 = $371.2 Mil. Gross Profit was 33.525 + 47.396 + 37.961 + 33.968 = $152.9 Mil. Total Current Assets was $69.5 Mil. Total Assets was $167.4 Mil. Property, Plant and Equipment(Net PPE) was $35.3 Mil. Depreciation, Depletion and Amortization(DDA) was $4.7 Mil. Selling, General, & Admin. Expense(SGA) was $171.3 Mil. Total Current Liabilities was $63.9 Mil. Long-Term Debt & Capital Lease Obligation was $37.8 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) |
= | (7.029 / 324.699) | / | (6.307 / 371.179) | |
= | 0.021648 | / | 0.016992 | |
= | 1.274 |
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) | |
= | (152.85 / 371.179) | / | (134.522 / 324.699) | |
= | 0.411796 | / | 0.414298 | |
= | 0.994 |
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 - (65.321 + 29.884) / 153.533) | / | (1 - (69.455 + 35.295) / 167.376) | |
= | 0.379905 | / | 0.374164 | |
= | 1.0153 |
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 | |
= | 324.699 | / | 371.179 | |
= | 0.8748 |
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)) |
= | (4.7 / (4.7 + 35.295)) | / | (5.375 / (5.375 + 29.884)) | |
= | 0.117515 | / | 0.152443 | |
= | 0.7709 |
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) |
= | (159.785 / 324.699) | / | (171.273 / 371.179) | |
= | 0.492102 | / | 0.46143 | |
= | 1.0665 |
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) |
= | ((21.02 + 86.635) / 153.533) | / | ((37.78 + 63.904) / 167.376) | |
= | 0.701185 | / | 0.607518 | |
= | 1.1542 |
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 | |
= | (-30.641 - 0.996 | - | -0.546) | / | 153.533 | |
= | -0.202504 |
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.
Lulus Fashion Lounge Holdings has a M-score of -3.37 suggests that the company is unlikely to be a manipulator.
Thank you for viewing the detailed overview of Lulus Fashion Lounge Holdings's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Tiffany Rose Smith | officer: Chief Financial Officer | 195 HUMBOLDT AVENUE, CHICO CA 95928 |
Michael J Mardy | director | |
Kelly Ann Mccarthy | director | 195 HUMBOLDT AVENUE, CHICO CA 95928 |
Caroline Sio-chin Sheu | director | 256 WEST DATA DRIVE, DRAPER UT 84020 |
Anisa Benita Kumar | director | 195 HUMBOLDT AVENUE, CHICO CA 95928 |
Kira Yugay | director | C/O LULUS FASHION LOUNGE HOLDINGS, INC., 195 HUMBOLDT AVENUE, CHICO CA 95928 |
Dara Bazzano | director | 100 NORTH SEPULVEDA BLVD., SUITE 1100, EL SEGUNDO CA 90245 |
David W. Mccreight | director, officer: Chief Executive Officer | C/O URBAN OUTFITTERS, INC., 5000 SOUTH BROAD STREET, PHILADELPHIA PA 19112 |
Danielle Qi | director | C/O LULUS FASHION LOUNGE HOLDINGS, INC., 195 HUMBOLDT AVENUE, CHICO CA 95928 |
Canada Pension Plan Investment Board | 10 percent owner | ONE QUEEN STREET EAST, STE 2500, TORONTO ONTARIO A6 0000 |
Norman A Fogelsong | 10 percent owner | C/O IVP, 3000 SAND HILL ROAD, 2-250, MENLO PARK CA 94025 |
Dennis B Phelps | 10 percent owner | 3000 SAND HILL ROAD, 2-250, MENLO PARK CA 94025 |
Stephen J Harrick | 10 percent owner | 3000 SAND HILL ROAD, 2-250, MENLO PARK CA 94025 |
Crystal Landsem | officer: See Remarks | C/O LULUS FASHION LOUNGE HOLDINGS, INC., 195 HUMBOLDT AVENUE, CHICO CA 95928 |
Mark Vos | officer: See Remarks | C/O LULUS FASHION LOUNGE HOLDINGS, INC., 195 HUMBOLDT AVENUE, CHICO CA 95928 |
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