Cinemark Holdings (MEX:CNK) Beneish M-Score : -2.46 (As of Mar. 26, 2025)

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What is Cinemark Holdings Beneish M-Score?

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 -2.46 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Cinemark Holdings's Beneish M-Score or its related term are showing as below:

MEX:CNK' s Beneish M-Score Range Over the Past 10 Years
Min: -2.95 Med: -2.49 Max: 5.08
Current: -2.46

During the past 13 years, the highest Beneish M-Score of Cinemark Holdings was 5.08. The lowest was -2.95. And the median was -2.49.

Cinemark Holdings Beneish M-Score Historical Data

The historical data trend for Cinemark 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.

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Cinemark Holdings Beneish M-Score Chart

Cinemark Holdings Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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5.08

-2.52

-2.44

-2.45

-2.46

Cinemark Holdings 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															-2.45	-2.39	-2.57	-2.49	-2.46

Competitive Comparison of Cinemark Holdings's Beneish M-Score

For the Entertainment subindustry, Cinemark 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.

Cinemark Holdings's Beneish M-Score Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Cinemark Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Cinemark Holdings's Beneish M-Score falls into.

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Cinemark 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 Cinemark Holdings for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.3226

0.528 * 1.0031

0.404 * 0.9924

0.892 * 1.093

0.115 * 1.1472

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9922

4.679 * -0.030722

0.327 * 0.9539

-2.21

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was MXN3,364 Mil.
Revenue was 16982.796 + 18150.519 + 13450.62 + 9612.551 = MXN58,196 Mil.
Gross Profit was 10809.509 + 11650.751 + 8676.401 + 6321.514 = MXN37,458 Mil.
Total Current Assets was MXN27,077 Mil.
Total Assets was MXN105,676 Mil.
Property, Plant and Equipment(Net PPE) was MXN43,286 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN3,725 Mil.
Selling, General, & Admin. Expense(SGA) was MXN13,491 Mil.
Total Current Liabilities was MXN26,731 Mil.
Long-Term Debt & Capital Lease Obligation was MXN57,651 Mil.
Net Income was 1069.897 + 3697.838 + 839.061 + 411.587 = MXN6,018 Mil.
Non Operating Income was -114.706 + 210.686 + -205.185 + 152.686 = MXN43 Mil.
Cash Flow from Operations was 4096.059 + 2114.738 + 3387.387 + -376.735 = MXN9,221 Mil.

Total Receivables was MXN2,327 Mil.
Revenue was 10844.847 + 15238.051 + 16154.697 + 11007.867 = MXN53,245 Mil.
Gross Profit was 7108.815 + 9817.29 + 10233.194 + 7217.21 = MXN34,377 Mil.
Total Current Assets was MXN17,993 Mil.
Total Assets was MXN82,101 Mil.
Property, Plant and Equipment(Net PPE) was MXN36,462 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN3,646 Mil.
Selling, General, & Admin. Expense(SGA) was MXN12,441 Mil.
Total Current Liabilities was MXN12,396 Mil.
Long-Term Debt & Capital Lease Obligation was MXN56,327 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)
	=	(3364.024 / 58196.486)	/	(2327.169 / 53245.462)
	=	0.057805	/	0.043706
	=	1.3226

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)
	=	(34376.509 / 53245.462)	/	(37458.175 / 58196.486)
	=	0.645623	/	0.64365
	=	1.0031

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 - (27076.955 + 43286.005) / 105675.832)	/	(1 - (17992.703 + 36462.382) / 82101.043)
	=	0.334162	/	0.336731
	=	0.9924

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
	=	58196.486	/	53245.462
	=	1.093

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))
	=	(3645.826 / (3645.826 + 36462.382))	/	(3725.09 / (3725.09 + 43286.005))
	=	0.0909	/	0.079239
	=	1.1472

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)
	=	(13491.099 / 58196.486)	/	(12440.728 / 53245.462)
	=	0.23182	/	0.233649
	=	0.9922

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)
	=	((57651.411 + 26730.751) / 105675.832)	/	((56327.345 + 12396.293) / 82101.043)
	=	0.7985	/	0.837062
	=	0.9539

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
	=	(6018.383 - 43.481	-	9221.449)	/	105675.832
	=	-0.030722

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.

Cinemark Holdings has a M-score of -2.21 suggests that the company is unlikely to be a manipulator.

Cinemark Holdings Beneish M-Score Related Terms

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Cinemark Holdings Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » Cinemark Holdings Inc (MEX:CNK) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

CNK:USA ZZA:Germany ZZA:Germany

Address

3900 Dallas Parkway, Suite 500, Plano, TX, USA, 75093

Website

https://www.cinemark.com

Cinemark Holdings Inc is a geographically diverse operator in the motion picture exhibition industry in the United States. The company generates revenue from filmed entertainment box office receipts and concession sales, with additional revenue from screen advertising, screen rentals, and other revenue streams, such as transactional fees, vendor marketing promotions, studio trailer placements, meeting rentals, and electronic video games located in some of the theatres.