RH Beneish M-Score Historical Data
The historical data trend for RH'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.
RH Beneish M-Score Chart
|
RH Annual Data
|
|
Trend |
Jan15 |
Jan16 |
Jan17 |
Jan18 |
Jan19 |
Jan20 |
Jan21 |
Jan22 |
Jan23 |
Jan24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-3.10 |
-2.20 |
-2.44 |
-2.06 |
-2.47 |
|
RH Quarterly Data
|
|
Jan20 |
Apr20 |
Jul20 |
Oct20 |
Jan21 |
Apr21 |
Jul21 |
Oct21 |
Jan22 |
Apr22 |
Jul22 |
Oct22 |
Jan23 |
Apr23 |
Jul23 |
Oct23 |
Jan24 |
Apr24 |
Jul24 |
Oct24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.95 |
-2.47 |
-2.52 |
-2.31 |
-2.23 |
Competitive Comparison of RH's Beneish M-Score
For the Specialty Retail subindustry, RH'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.
RH's Beneish M-Score Distribution in the Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, RH's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where RH's Beneish M-Score falls into.
RH 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 RH 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 * 1.1339 | + | 0.528 * 1.0608 | + | 0.404 * 1.0179 | + | 0.892 * 1.0368 | + | 0.115 * 1.0187 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0124 | + | 4.679 * 0.03028 | - | 0.327 * 0.9643 |
| = | -2.13 |
* 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 (Oct24) TTM: | Last Year (Oct23) TTM: |
Total Receivables was MXN2,184 Mil.
Revenue was 16260.128 + 15429.509 + 12404.991 + 12680.501 = MXN56,775 Mil.
Gross Profit was 7238.146 + 6969.543 + 5392.936 + 5512.719 = MXN25,113 Mil.
Total Current Assets was MXN25,595 Mil.
Total Assets was MXN89,425 Mil.
Property, Plant and Equipment(Net PPE) was MXN51,419 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN2,382 Mil.
Selling, General, & Admin. Expense(SGA) was MXN19,257 Mil.
Total Current Liabilities was MXN17,953 Mil.
Long-Term Debt & Capital Lease Obligation was MXN74,744 Mil.
Net Income was 664.401 + 538.435 + -61.858 + 195.482 = MXN1,336 Mil.
Non Operating Income was -0.541 + 12.33 + -19.88 + 58.193 = MXN50 Mil.
Cash Flow from Operations was -629.727 + 207.846 + 957.814 + -1957.365 = MXN-1,421 Mil.
|
Total Receivables was MXN1,858 Mil.
Revenue was 13561.865 + 13382.648 + 13295.676 + 14521.436 = MXN54,762 Mil.
Gross Profit was 6146.144 + 6354.174 + 6251.466 + 6944.094 = MXN25,696 Mil.
Total Current Assets was MXN23,232 Mil.
Total Assets was MXN76,556 Mil.
Property, Plant and Equipment(Net PPE) was MXN42,887 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN2,025 Mil.
Selling, General, & Admin. Expense(SGA) was MXN18,346 Mil.
Total Current Liabilities was MXN16,879 Mil.
Long-Term Debt & Capital Lease Obligation was MXN65,414 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) |
| = | (2183.923 / 56775.129) | / | (1857.798 / 54761.625) |
| = | 0.038466 | / | 0.033925 |
| | = | 1.1339 |
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) |
| = | (25695.878 / 54761.625) | / | (25113.344 / 56775.129) |
| = | 0.469231 | / | 0.44233 |
| | = | 1.0608 |
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 - (25595.141 + 51419.462) / 89424.616) | / | (1 - (23232.045 + 42886.526) / 76555.895) |
| = | 0.138776 | / | 0.136336 |
| | = | 1.0179 |
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 |
| = | 56775.129 | / | 54761.625 |
| | = | 1.0368 |
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)) |
| = | (2025.488 / (2025.488 + 42886.526)) | / | (2381.729 / (2381.729 + 51419.462)) |
| = | 0.045099 | / | 0.044269 |
| | = | 1.0187 |
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) |
| = | (19256.638 / 56775.129) | / | (18346.457 / 54761.625) |
| = | 0.339174 | / | 0.335024 |
| | = | 1.0124 |
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) |
| = | ((74743.744 + 17953.483) / 89424.616) | / | ((65413.601 + 16879.086) / 76555.895) |
| = | 1.036596 | / | 1.074936 |
| | = | 0.9643 |
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 |
| = | (1336.46 - 50.102 | - | -1421.432) | / | 89424.616 |
| | = | 0.03028 |
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.
RH has a M-score of -2.13 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
MEX:RH has been successfully added to your