Allegiant Travel Co Beneish M-Score Historical Data
The historical data trend for Allegiant Travel Co'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.
Allegiant Travel Co Beneish M-Score Chart
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Allegiant Travel Co Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-27.31 |
-3.33 |
-2.24 |
-3.17 |
-2.33 |
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Allegiant Travel Co Quarterly Data
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Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
Mar25 |
| Beneish M-Score |
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-2.57 |
-1.96 |
-2.11 |
-2.33 |
-2.52 |
Competitive Comparison of Allegiant Travel Co's Beneish M-Score
For the Airlines subindustry, Allegiant Travel Co'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.
Allegiant Travel Co's Beneish M-Score Distribution in the Transportation Industry
For the Transportation industry and Industrials sector, Allegiant Travel Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Allegiant Travel Co's Beneish M-Score falls into.
Allegiant Travel Co 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 Allegiant Travel Co 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 * 1.1625 | + | 0.528 * 1.1446 | + | 0.404 * 0.879 | + | 0.892 * 1.0154 | + | 0.115 * 0.804 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8384 | + | 4.679 * -0.047452 | - | 0.327 * 1.0329 |
| = | -2.52 |
* 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 (Mar25) TTM: | Last Year (Mar24) TTM: |
Total Receivables was $86 Mil.
Revenue was 699.074 + 627.705 + 562.196 + 666.283 = $2,555 Mil.
Gross Profit was 123.711 + 115.952 + 47.881 + 114.643 = $402 Mil.
Total Current Assets was $1,078 Mil.
Total Assets was $4,504 Mil.
Property, Plant and Equipment(Net PPE) was $3,179 Mil.
Depreciation, Depletion and Amortization(DDA) was $258 Mil.
Selling, General, & Admin. Expense(SGA) was $101 Mil.
Total Current Liabilities was $1,198 Mil.
Long-Term Debt & Capital Lease Obligation was $1,806 Mil.
Net Income was 32.102 + -216.23 + -36.789 + 13.699 = $-207 Mil.
Non Operating Income was 0.853 + -329.411 + -8.82 + -18.181 = $-356 Mil.
Cash Flow from Operations was 191.406 + 84.38 + 17.339 + 68.932 = $362 Mil.
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Total Receivables was $72 Mil.
Revenue was 656.406 + 611.002 + 565.359 + 683.81 = $2,517 Mil.
Gross Profit was 106.417 + 90.524 + 72.665 + 183.772 = $453 Mil.
Total Current Assets was $1,007 Mil.
Total Assets was $4,935 Mil.
Property, Plant and Equipment(Net PPE) was $3,620 Mil.
Depreciation, Depletion and Amortization(DDA) was $232 Mil.
Selling, General, & Admin. Expense(SGA) was $118 Mil.
Total Current Liabilities was $1,321 Mil.
Long-Term Debt & Capital Lease Obligation was $1,867 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) |
| = | (85.571 / 2555.258) | / | (72.494 / 2516.577) |
| = | 0.033488 | / | 0.028807 |
| | = | 1.1625 |
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) |
| = | (453.378 / 2516.577) | / | (402.187 / 2555.258) |
| = | 0.180157 | / | 0.157396 |
| | = | 1.1446 |
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 - (1078.299 + 3178.777) / 4503.862) | / | (1 - (1007.106 + 3620.389) / 4935.131) |
| = | 0.054794 | / | 0.062336 |
| | = | 0.879 |
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 |
| = | 2555.258 | / | 2516.577 |
| | = | 1.0154 |
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)) |
| = | (232.294 / (232.294 + 3620.389)) | / | (257.719 / (257.719 + 3178.777)) |
| = | 0.060294 | / | 0.074995 |
| | = | 0.804 |
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) |
| = | (100.537 / 2555.258) | / | (118.106 / 2516.577) |
| = | 0.039345 | / | 0.046931 |
| | = | 0.8384 |
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) |
| = | ((1806.445 + 1198.452) / 4503.862) | / | ((1867.096 + 1320.673) / 4935.131) |
| = | 0.667182 | / | 0.645934 |
| | = | 1.0329 |
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 |
| = | (-207.218 - -355.559 | - | 362.057) | / | 4503.862 |
| | = | -0.047452 |
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.
Allegiant Travel Co has a M-score of -2.52 suggests that the company is unlikely to be a manipulator.
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