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Canterbury Park Holding Beneish M-Score

: -2.51 (As of Today)
View and export this data going back to 1994. Start your Free Trial

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 -2.51 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Canterbury Park Holding's Beneish M-Score or its related term are showing as below:

NAS:CPHC' s Beneish M-Score Range Over the Past 10 Years
Min: -10000000   Med: -2.81   Max: 10000000
Current: -2.51

-10000000
10000000

During the past 13 years, the highest Beneish M-Score of Canterbury Park Holding was 10000000.00. The lowest was -10000000.00. And the median was -2.81.


Canterbury Park Holding Beneish M-Score Historical Data

The historical data trend for Canterbury Park Holding'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.

* Premium members only.

Canterbury Park Holding Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Beneish M-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 43.32 -2.93 -2.04 -2.30 -2.56

Canterbury Park Holding Quarterly Data
Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
Beneish M-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -0.12 -2.56 -2.34 -2.13 -2.51

Competitive Comparison

For the Gambling subindustry, Canterbury Park Holding'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.

   

Canterbury Park Holding Beneish M-Score Distribution

For the Travel & Leisure industry and Consumer Cyclical sector, Canterbury Park Holding's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Canterbury Park Holding's Beneish M-Score falls into.



Canterbury Park Holding 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 Canterbury Park Holding 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 * 0.9377+0.528 * 0.9805+0.404 * 0.8088+0.892 * 1.3268+0.115 * 0.9986
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8244+4.679 * -0.0483-0.327 * 0.9479
=-2.51

* 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 (Sep21) TTM:Last Year (Sep20) TTM:
Accounts Receivable was $1.99 Mil.
Revenue was 21.347 + 15.872 + 9.226 + 6.123 = $52.57 Mil.
Gross Profit was 16.712 + 12.201 + 7.683 + 4.782 = $41.38 Mil.
Total Current Assets was $19.24 Mil.
Total Assets was $76.80 Mil.
Property, Plant and Equipment(Net PPE) was $34.18 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.80 Mil.
Selling, General, & Admin. Expense(SGA) was $26.24 Mil.
Total Current Liabilities was $11.56 Mil.
Long-Term Debt & Capital Lease Obligation was $0.03 Mil.
Net Income was 2.757 + 1.869 + 0.551 + 0.139 = $5.32 Mil.
Non Operating Income was -0.686 + -0.377 + -0.638 + -0.725 = $-2.43 Mil.
Cash Flow from Operations was -1.184 + 9.793 + 1.844 + 0.997 = $11.45 Mil.
Accounts Receivable was $1.60 Mil.
Revenue was 13.3 + 2.768 + 10.949 + 12.602 = $39.62 Mil.
Gross Profit was 9.963 + 1.913 + 8.871 + 9.83 = $30.58 Mil.
Total Current Assets was $8.42 Mil.
Total Assets was $67.64 Mil.
Property, Plant and Equipment(Net PPE) was $33.77 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.76 Mil.
Selling, General, & Admin. Expense(SGA) was $23.99 Mil.
Total Current Liabilities was $10.69 Mil.
Long-Term Debt & Capital Lease Obligation was $0.08 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Accounts Receivable 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)
=(1.987 / 52.568) / (1.597 / 39.619)
=0.03779866 / 0.04030894
=0.9377

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)
=(30.577 / 39.619) / (41.378 / 52.568)
=0.77177617 / 0.78713286
=0.9805

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 - (19.243 + 34.18) / 76.798) / (1 - (8.42 + 33.765) / 67.641)
=0.30436991 / 0.37633979
=0.8088

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
=52.568 / 39.619
=1.3268

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))
=(2.759 / (2.759 + 33.765)) / (2.797 / (2.797 + 34.18))
=0.07553937 / 0.07564162
=0.9986

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)
=(26.244 / 52.568) / (23.991 / 39.619)
=0.49923908 / 0.6055428
=0.8244

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)
=((0.026 + 11.559) / 76.798) / ((0.075 + 10.689) / 67.641)
=0.15085028 / 0.15913425
=0.9479

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
=(5.316 - -2.426 - 11.45) / 76.798
=-0.0483

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.

Canterbury Park Holding has a M-score of -2.51 suggests that the company is unlikely to be a manipulator.


Canterbury Park Holding Beneish M-Score Related Terms

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Canterbury Park Holding Business Description

Canterbury Park Holding logo
Industry
Consumer Cyclical » Travel & Leisure NAICS : 711212 SIC : 7948
Traded in Other Exchanges
N/A
Address
1100 Canterbury Road, Shakopee, MN, USA, 55379
Canterbury Park Holding Corp is in the business of pari-mutuel wagering on horse races and unbanked card games at its canterbury park racetrack and card casino facility in Minnesota. The company has four operating segments. The horse racing segment represents pari-mutuel wagering operations on simulcast and live horse races; the Card Casino segment represents unbanked card operations; the food and beverage segment includes concessions, catering, and events services provided at the Racetrack; and the development segment represents our real estate development operations. The firm generates a majority of its revenue from the Card Casino segment.
Executives
Chronister Mark director 1100 CANTERBURY ROAD SOUTH SHAKOPEE MN 55379
Schenian Dale H director, 10 percent owner PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: SCHENIAN DALE H a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Sampson Randall D director, 10 percent owner, officer: President and CEO 1100 CANTERBURY ROAD SHAKOPEE MN 55379
Offerman Carin J director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: OFFERMAN CARIN J a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Dahlberg Burton F director 1100 CANTERBURY ROAD SHAKOPEE MN 55379
Dehmer Randy J officer: Chief Financial Officer 1100 CANTERBURY PARK RD SHAKOPEE MN 55379
Bausch Maureen Hooley director 1100 CANTERBURY PARK RD SHAKOPEE MN 55379
Himle John Stefan director 1100 CANTERBURY PARK RD SHAKOPEE MN 55379
Sampson Curtis A director, 10 percent owner PO BOX 777 S MAIN ST HECTOR MN 55342
Wolf Robert officer: Chief Financial Officer 1100 CANTERBURY RD. SHAKOPEE MN 55379
Kennedy Daniel J. officer: Senior VP of Operations 1100 CANTERBURY ROAD SHAKOPEE MN 55379
Hochman Michael officer: Vice President - Card Casino 1100 CANTERBURY ROAD SHAKOPEE MN 55379
Canterbury Park Holding Corp officer: Vice President - Racing 1100 CANTERBURY ROAD S. SHAKOPEE MN 55379
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