Market Cap : 170.4 B | Enterprise Value : 259.98 B | PE Ratio : 12.63 | PB Ratio : 1.88 |
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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 -2.67 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Comcast's Beneish M-Score or its related term are showing as below:
During the past 13 years, the highest Beneish M-Score of Comcast was 3.70. The lowest was -3.63. And the median was -2.62.
The historical data trend for Comcast'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.
For the Telecom Services subindustry, Comcast'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.
For the Telecommunication Services industry and Communication Services sector, Comcast's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Comcast's Beneish M-Score falls into.
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 Comcast 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 * 0.9639 | + | 0.528 * 0.9921 | + | 0.404 * 0.996 | + | 0.892 * 1.1162 | + | 0.115 * 0.9676 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 1.0972 | + | 4.679 * -0.0508 | - | 0.327 * 0.992 | |||||||
= | -2.67 |
* 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 (Jun22) TTM: | Last Year (Jun21) TTM: |
Total Receivables was $11,955 Mil. Revenue was 30016 + 31010 + 30336 + 30298 = $121,660 Mil. Gross Profit was 21128 + 20440 + 20456 + 19903 = $81,927 Mil. Total Current Assets was $24,192 Mil. Total Assets was $267,032 Mil. Property, Plant and Equipment(Net PPE) was $53,508 Mil. Depreciation, Depletion and Amortization(DDA) was $14,075 Mil. Selling, General, & Admin. Expense(SGA) was $8,486 Mil. Total Current Liabilities was $27,585 Mil. Long-Term Debt & Capital Lease Obligation was $91,459 Mil. Net Income was 3396 + 3549 + 3057 + 4035 = $14,037 Mil. Non Operating Income was -896 + 188 + 182 + 767 = $241 Mil. Cash Flow from Operations was 6327 + 7257 + 7689 + 6100 = $27,373 Mil. |
Total Receivables was $11,111 Mil. Revenue was 28546 + 27205 + 27708 + 25532 = $108,991 Mil. Gross Profit was 19290 + 18286 + 18270 + 16967 = $72,813 Mil. Total Current Assets was $27,046 Mil. Total Assets was $277,004 Mil. Property, Plant and Equipment(Net PPE) was $52,769 Mil. Depreciation, Depletion and Amortization(DDA) was $13,317 Mil. Selling, General, & Admin. Expense(SGA) was $6,929 Mil. Total Current Liabilities was $29,314 Mil. Long-Term Debt & Capital Lease Obligation was $95,175 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) |
= | (11955 / 121660) | / | (11111 / 108991) | |
= | 0.09826566 | / | 0.1019442 | |
= | 0.9639 |
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) | |
= | (72813 / 108991) | / | (81927 / 121660) | |
= | 0.66806434 | / | 0.6734095 | |
= | 0.9921 |
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 - (24192 + 53508) / 267032) | / | (1 - (27046 + 52769) / 277004) | |
= | 0.70902364 | / | 0.71186337 | |
= | 0.996 |
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 | |
= | 121660 | / | 108991 | |
= | 1.1162 |
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)) |
= | (13317 / (13317 + 52769)) | / | (14075 / (14075 + 53508)) | |
= | 0.20151015 | / | 0.20826243 | |
= | 0.9676 |
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) |
= | (8486 / 121660) | / | (6929 / 108991) | |
= | 0.06975177 | / | 0.06357406 | |
= | 1.0972 |
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) |
= | ((91459 + 27585) / 267032) | / | ((95175 + 29314) / 277004) | |
= | 0.44580425 | / | 0.44941228 | |
= | 0.992 |
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 | |
= | (14037 - 241 | - | 27373) | / | 267032 | |
= | -0.0508 |
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.
Comcast has a M-score of -2.67 suggests that the company is unlikely to be a manipulator.
Thank you for viewing the detailed overview of Comcast's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Strong Dana | officer: CEO - Sky | C/O COMCAST CORPORATION ONE COMCAST CENTER PHILADELPHIA PA 19103-2838 |
Bergman Naomi M. | director | 210 E. EARLL DRIVE PHOENIX AZ 85012 |
Miller Adam Louis | officer: Sr. EVP | ONE COMCAST CENTER PHILADELPHIA PA 19103-2838 |
Shell Jeff | officer: CEO - NBCUniversal | C/O COMCAST CORPORATION ONE COMCAST CENTER PHILADELPHIA PA 19103 |
Bacon Kenneth J | director | 5404 WISCONSIN AVENUE SUITE 410 CHEVY CHASE MD 20815 |
Reid Thomas J. | officer: Senior EVP, GC and Secretary | ONE COMCAST CENTER PHILADELPHIA PA 19103 |
Montiel Maritza Gomez | director | C/O APTARGROUP, INC. 265 EXCHANGE DRIVE, SUITE 100 CRYSTAL LAKE IL 60014 |
Roberts Brian L | director, officer: Chairman of Board, Pres. & CEO | COMCAST CORP 1500 MARKET STREET-35TH FLOOR PHILIDELPHIA PA 19102-2148 |
Watson David N | officer: Sr. EVP | 1100 CASSATT ROAD BERWYN PA 19312 |
Murdock Daniel C. | officer: SVP & Chief Accounting Officer | 1500 MARKET STREET PHILADELPHIA PA 19102 |
Nakahara Asuka | director | 527 GREYSTONE ROAD MERION PA 19066 |
Novak David C | director | 1441 GARDINER LANE LOUISVILLE KY 40213 |
Bell Madeline S. | director | ONE COMCAST CENTER PHILADELPHIA PA 19103-2838 |
Cavanagh Michael J | officer: CFO | 1 BANK ONE PLAZA IL1-0877 CHICAGO IL 60670 |
Burke Stephen B | officer: Executive Vice President | 41 CENTRAL PARK WEST - APT 11A NEW YORK NY 10023 |
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