MillerKnoll Beneish M-Score Historical Data
The historical data trend for MillerKnoll'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.
|
MillerKnoll Annual Data
|
|
Trend |
May14 |
May15 |
May16 |
May17 |
May18 |
May19 |
May20 |
May21 |
May22 |
May23 |
| Beneish M-Score |
|
|
|
|
|
|
-2.46 |
-2.88 |
-2.71 |
-1.70 |
-2.53 |
|
MillerKnoll Quarterly Data
|
|
May19 |
Aug19 |
Nov19 |
Feb20 |
May20 |
Aug20 |
Nov20 |
Feb21 |
May21 |
Aug21 |
Nov21 |
Feb22 |
May22 |
Aug22 |
Nov22 |
Feb23 |
May23 |
Aug23 |
Nov23 |
Feb24 |
| Beneish M-Score |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.36 |
-2.53 |
-2.86 |
-2.93 |
-3.00 |
Competitive Comparison
For the Furnishings, Fixtures & Appliances subindustry, MillerKnoll'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.
MillerKnoll Beneish M-Score Distribution
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, MillerKnoll's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where MillerKnoll's Beneish M-Score falls into.
MillerKnoll 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 MillerKnoll 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 * 0.9361 | + | 0.528 * 0.8957 | + | 0.404 * 1.0504 | + | 0.892 * 0.8736 | + | 0.115 * 0.9788 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1193 | + | 4.679 * -0.062294 | - | 0.327 * 0.9869 |
| = | -3.00 |
* 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 (Feb24) TTM: | Last Year (Feb23) TTM: |
Total Receivables was $319 Mil.
Revenue was 872.3 + 949.5 + 917.7 + 956.7 = $3,696 Mil.
Gross Profit was 337 + 372 + 358.1 + 354.7 = $1,422 Mil.
Total Current Assets was $1,083 Mil.
Total Assets was $4,095 Mil.
Property, Plant and Equipment(Net PPE) was $883 Mil.
Depreciation, Depletion and Amortization(DDA) was $151 Mil.
Selling, General, & Admin. Expense(SGA) was $1,123 Mil.
Total Current Liabilities was $681 Mil.
Long-Term Debt & Capital Lease Obligation was $1,646 Mil.
Net Income was 22.2 + 33.5 + 16.7 + -0.1 = $72 Mil.
Non Operating Income was 0.1 + 0.6 + -7.4 + -32.3 = $-39 Mil.
Cash Flow from Operations was 60.5 + 82.5 + 130.9 + 92.5 = $366 Mil.
|
Total Receivables was $390 Mil.
Revenue was 984.7 + 1066.9 + 1078.8 + 1100.5 = $4,231 Mil.
Gross Profit was 335.6 + 367.6 + 372.1 + 382.5 = $1,458 Mil.
Total Current Assets was $1,276 Mil.
Total Assets was $4,383 Mil.
Property, Plant and Equipment(Net PPE) was $938 Mil.
Depreciation, Depletion and Amortization(DDA) was $156 Mil.
Selling, General, & Admin. Expense(SGA) was $1,149 Mil.
Total Current Liabilities was $733 Mil.
Long-Term Debt & Capital Lease Obligation was $1,789 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) |
| = | (318.7 / 3696.2) | / | (389.7 / 4230.9) |
| = | 0.086224 | / | 0.092108 |
| | = | 0.9361 |
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) |
| = | (1457.8 / 4230.9) | / | (1421.8 / 3696.2) |
| = | 0.34456 | / | 0.384665 |
| | = | 0.8957 |
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 - (1083.4 + 883) / 4095.1) | / | (1 - (1276.1 + 937.8) / 4382.8) |
| = | 0.519816 | / | 0.494866 |
| | = | 1.0504 |
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 |
| = | 3696.2 | / | 4230.9 |
| | = | 0.8736 |
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)) |
| = | (156.2 / (156.2 + 937.8)) | / | (150.8 / (150.8 + 883)) |
| = | 0.142779 | / | 0.14587 |
| | = | 0.9788 |
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) |
| = | (1123.3 / 3696.2) | / | (1148.8 / 4230.9) |
| = | 0.303907 | / | 0.271526 |
| | = | 1.1193 |
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) |
| = | ((1645.6 + 680.5) / 4095.1) | / | ((1789.3 + 733.2) / 4382.8) |
| = | 0.56802 | / | 0.575545 |
| | = | 0.9869 |
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 |
| = | (72.3 - -39 | - | 366.4) | / | 4095.1 |
| | = | -0.062294 |
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.
MillerKnoll has a M-score of -3.00 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
MLKN has been successfully added to your