Hub Group Beneish M-Score Historical Data
The historical data trend for Hub Group'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.
Hub Group Beneish M-Score Chart
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Hub Group Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.41 |
-2.24 |
-3.16 |
-2.50 |
-2.56 |
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Hub Group 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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-2.66 |
-2.72 |
-2.70 |
-2.56 |
-2.57 |
Competitive Comparison of Hub Group's Beneish M-Score
For the Integrated Freight & Logistics subindustry, Hub Group'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.
Hub Group's Beneish M-Score Distribution in the Transportation Industry
For the Transportation industry and Industrials sector, Hub Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Hub Group's Beneish M-Score falls into.
Hub Group 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 Hub Group 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 * 1.0221 | + | 0.528 * 1.0202 | + | 0.404 * 1.0621 | + | 0.892 * 0.9537 | + | 0.115 * 0.9638 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0465 | + | 4.679 * -0.028793 | - | 0.327 * 0.8699 |
| = | -2.57 |
* 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 $579 Mil.
Revenue was 915.216 + 973.51 + 986.892 + 986.495 = $3,862 Mil.
Gross Profit was 75.301 + 210.676 + 71.563 + 79.631 = $437 Mil.
Total Current Assets was $753 Mil.
Total Assets was $2,822 Mil.
Property, Plant and Equipment(Net PPE) was $955 Mil.
Depreciation, Depletion and Amortization(DDA) was $190 Mil.
Selling, General, & Admin. Expense(SGA) was $156 Mil.
Total Current Liabilities was $555 Mil.
Long-Term Debt & Capital Lease Obligation was $341 Mil.
Net Income was 26.847 + 24.372 + 23.603 + 29.015 = $104 Mil.
Non Operating Income was 0.36 + 0.029 + 0.404 + 0.347 = $1 Mil.
Cash Flow from Operations was 70.035 + 0.604 + 43.35 + 69.949 = $184 Mil.
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Total Receivables was $594 Mil.
Revenue was 999.493 + 985.023 + 1024.835 + 1040.462 = $4,050 Mil.
Gross Profit was 76.493 + 213.948 + 77.617 + 99.644 = $468 Mil.
Total Current Assets was $828 Mil.
Total Assets was $2,891 Mil.
Property, Plant and Equipment(Net PPE) was $989 Mil.
Depreciation, Depletion and Amortization(DDA) was $188 Mil.
Selling, General, & Admin. Expense(SGA) was $156 Mil.
Total Current Liabilities was $649 Mil.
Long-Term Debt & Capital Lease Obligation was $407 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) |
| = | (578.883 / 3862.113) | / | (593.897 / 4049.813) |
| = | 0.149888 | / | 0.146648 |
| | = | 1.0221 |
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) |
| = | (467.702 / 4049.813) | / | (437.171 / 3862.113) |
| = | 0.115487 | / | 0.113195 |
| | = | 1.0202 |
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 - (752.812 + 954.718) / 2821.525) | / | (1 - (827.958 + 988.532) / 2891.27) |
| = | 0.39482 | / | 0.371733 |
| | = | 1.0621 |
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 |
| = | 3862.113 | / | 4049.813 |
| | = | 0.9537 |
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)) |
| = | (188.244 / (188.244 + 988.532)) | / | (190.003 / (190.003 + 954.718)) |
| = | 0.159966 | / | 0.165982 |
| | = | 0.9638 |
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) |
| = | (156.054 / 3862.113) | / | (156.371 / 4049.813) |
| = | 0.040406 | / | 0.038612 |
| | = | 1.0465 |
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) |
| = | ((340.805 + 555.416) / 2821.525) | / | ((407.079 + 648.6) / 2891.27) |
| = | 0.317637 | / | 0.365126 |
| | = | 0.8699 |
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 |
| = | (103.837 - 1.14 | - | 183.938) | / | 2821.525 |
| | = | -0.028793 |
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.
Hub Group has a M-score of -2.57 suggests that the company is unlikely to be a manipulator.
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