Sonder Holdings Beneish M-Score Historical Data
The historical data trend for Sonder 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.
Sonder Holdings Beneish M-Score Chart
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Sonder Holdings Annual Data
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Trend |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
| Beneish M-Score |
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- |
- |
- |
-2.64 |
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Sonder Holdings Quarterly Data
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Dec19 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
| Beneish M-Score |
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-2.68 |
-2.64 |
-0.85 |
-2.50 |
-2.60 |
Competitive Comparison of Sonder Holdings's Beneish M-Score
For the Lodging subindustry, Sonder 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.
Sonder Holdings's Beneish M-Score Distribution in the Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Sonder Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sonder Holdings's Beneish M-Score falls into.
Sonder 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 Sonder 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 * 1.1259 | + | 0.528 * 0.868 | + | 0.404 * 0.8797 | + | 0.892 * 1.2377 | + | 0.115 * 0.8142 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8018 | + | 4.679 * -0.101759 | - | 0.327 * 1.1455 |
| = | -2.78 |
* 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 (Sep23) TTM: | Last Year (Sep22) TTM: |
Total Receivables was MXN159 Mil.
Revenue was 2802.631 + 2698.501 + 2176.302 + 2627.456 = MXN10,305 Mil.
Gross Profit was 874.167 + 1099.935 + 517.408 + 871.861 = MXN3,363 Mil.
Total Current Assets was MXN4,063 Mil.
Total Assets was MXN29,897 Mil.
Property, Plant and Equipment(Net PPE) was MXN25,572 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN3,510 Mil.
Selling, General, & Admin. Expense(SGA) was MXN3,470 Mil.
Total Current Liabilities was MXN5,735 Mil.
Long-Term Debt & Capital Lease Obligation was MXN27,506 Mil.
Net Income was -1119.617 + -777.082 + -1557.919 + -1118.096 = MXN-4,573 Mil.
Non Operating Income was -9.528 + 51.809 + 35.509 + 181.859 = MXN260 Mil.
Cash Flow from Operations was -229.337 + -435.112 + -639.743 + -485.899 = MXN-1,790 Mil.
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Total Receivables was MXN114 Mil.
Revenue was 2504.84 + 2440.756 + 1602.159 + 1777.805 = MXN8,326 Mil.
Gross Profit was 958.319 + 847.672 + 130.815 + 421.973 = MXN2,359 Mil.
Total Current Assets was MXN6,881 Mil.
Total Assets was MXN30,827 Mil.
Property, Plant and Equipment(Net PPE) was MXN23,639 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN2,576 Mil.
Selling, General, & Admin. Expense(SGA) was MXN3,497 Mil.
Total Current Liabilities was MXN4,796 Mil.
Long-Term Debt & Capital Lease Obligation was MXN25,126 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) |
| = | (158.599 / 10304.89) | / | (113.811 / 8325.56) |
| = | 0.015391 | / | 0.01367 |
| | = | 1.1259 |
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) |
| = | (2358.779 / 8325.56) | / | (3363.371 / 10304.89) |
| = | 0.283318 | / | 0.326386 |
| | = | 0.868 |
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 - (4063.097 + 25571.533) / 29896.697) | / | (1 - (6880.899 + 23638.786) / 30826.881) |
| = | 0.008766 | / | 0.009965 |
| | = | 0.8797 |
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 |
| = | 10304.89 | / | 8325.56 |
| | = | 1.2377 |
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)) |
| = | (2575.957 / (2575.957 + 23638.786)) | / | (3509.904 / (3509.904 + 25571.533)) |
| = | 0.098264 | / | 0.120692 |
| | = | 0.8142 |
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) |
| = | (3470.27 / 10304.89) | / | (3496.699 / 8325.56) |
| = | 0.33676 | / | 0.419996 |
| | = | 0.8018 |
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) |
| = | ((27506.023 + 5735.451) / 29896.697) | / | ((25126.029 + 4796.18) / 30826.881) |
| = | 1.111878 | / | 0.970653 |
| | = | 1.1455 |
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 |
| = | (-4572.714 - 259.649 | - | -1790.091) | / | 29896.697 |
| | = | -0.101759 |
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.
Sonder Holdings has a M-score of -2.78 suggests that the company is unlikely to be a manipulator.
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