GoodRx Holdings Beneish M-Score Historical Data
The historical data trend for GoodRx 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.
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GoodRx Holdings Annual Data
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Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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|
- |
- |
-2.61 |
-2.90 |
-2.62 |
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GoodRx Holdings Quarterly Data
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Dec18 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.90 |
-3.02 |
-2.89 |
-2.86 |
-2.62 |
Competitive Comparison
For the Health Information Services subindustry, GoodRx 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.
GoodRx Holdings Beneish M-Score Distribution
For the Healthcare Providers & Services industry and Healthcare sector, GoodRx Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where GoodRx Holdings's Beneish M-Score falls into.
GoodRx 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 GoodRx 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 * 1.344 | + | 0.528 * 1.0047 | + | 0.404 * 1.0757 | + | 0.892 * 0.9788 | + | 0.115 * 0.7029 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9494 | + | 4.679 * -0.090101 | - | 0.327 * 1.057 |
| = | -2.62 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $160.0 Mil.
Revenue was 196.644 + 179.958 + 189.677 + 183.986 = $750.3 Mil.
Gross Profit was 181.474 + 161.237 + 173.338 + 167.291 = $683.3 Mil.
Total Current Assets was $872.8 Mil.
Total Assets was $1,588.8 Mil.
Property, Plant and Equipment(Net PPE) was $45.9 Mil.
Depreciation, Depletion and Amortization(DDA) was $107.7 Mil.
Selling, General, & Admin. Expense(SGA) was $466.8 Mil.
Total Current Liabilities was $122.6 Mil.
Long-Term Debt & Capital Lease Obligation was $696.1 Mil.
Net Income was -25.869 + -38.495 + 58.786 + -3.29 = $-8.9 Mil.
Non Operating Income was 0 + -2.2 + 0 + -1.808 = $-4.0 Mil.
Cash Flow from Operations was 15.868 + 60.27 + 29.866 + 32.288 = $138.3 Mil.
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Total Receivables was $121.7 Mil.
Revenue was 184.109 + 187.318 + 191.798 + 203.329 = $766.6 Mil.
Gross Profit was 166.749 + 169.923 + 173.754 + 191.049 = $701.5 Mil.
Total Current Assets was $919.7 Mil.
Total Assets was $1,604.6 Mil.
Property, Plant and Equipment(Net PPE) was $55.7 Mil.
Depreciation, Depletion and Amortization(DDA) was $54.2 Mil.
Selling, General, & Admin. Expense(SGA) was $502.4 Mil.
Total Current Liabilities was $76.3 Mil.
Long-Term Debt & Capital Lease Obligation was $705.9 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) |
| = | (160.045 / 750.265) | / | (121.665 / 766.554) |
| = | 0.213318 | / | 0.158717 |
| | = | 1.344 |
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) |
| = | (701.475 / 766.554) | / | (683.34 / 750.265) |
| = | 0.915102 | / | 0.910798 |
| | = | 1.0047 |
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 - (872.79 + 45.861) / 1588.8) | / | (1 - (919.686 + 55.726) / 1604.631) |
| = | 0.421796 | / | 0.392127 |
| | = | 1.0757 |
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 |
| = | 750.265 | / | 766.554 |
| | = | 0.9788 |
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)) |
| = | (54.177 / (54.177 + 55.726)) | / | (107.668 / (107.668 + 45.861)) |
| = | 0.492953 | / | 0.701288 |
| | = | 0.7029 |
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) |
| = | (466.843 / 750.265) | / | (502.423 / 766.554) |
| = | 0.622237 | / | 0.655431 |
| | = | 0.9494 |
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) |
| = | ((696.106 + 122.559) / 1588.8) | / | ((705.927 + 76.32) / 1604.631) |
| = | 0.515273 | / | 0.487493 |
| | = | 1.057 |
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 |
| = | (-8.868 - -4.008 | - | 138.292) | / | 1588.8 |
| | = | -0.090101 |
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.
GoodRx Holdings has a M-score of -2.62 suggests that the company is unlikely to be a manipulator.
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