Jack In The Box Beneish M-Score Historical Data
The historical data trend for Jack In The Box'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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Jack In The Box Annual Data
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Trend |
Sep14 |
Sep15 |
Sep16 |
Sep17 |
Sep18 |
Sep19 |
Sep20 |
Sep21 |
Sep22 |
Sep23 |
| Beneish M-Score |
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-2.83 |
-1.81 |
-2.61 |
-1.83 |
-2.68 |
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Jack In The Box Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Jan24 |
| Beneish M-Score |
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-2.10 |
-1.94 |
-2.61 |
-2.68 |
-2.40 |
Competitive Comparison
For the Restaurants subindustry, Jack In The Box'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.
Jack In The Box Beneish M-Score Distribution
For the Restaurants industry and Consumer Cyclical sector, Jack In The Box's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Jack In The Box's Beneish M-Score falls into.
Jack In The Box 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 Jack In The Box 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 * 1.1084 | + | 0.528 * 0.9662 | + | 0.404 * 0.9854 | + | 0.892 * 1.0014 | + | 0.115 * 1.0682 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0595 | + | 4.679 * 0.001672 | - | 0.327 * 1.0044 |
| = | -2.40 |
* 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 (Jan24) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $63 Mil.
Revenue was 487.498 + 372.524 + 396.942 + 395.744 = $1,653 Mil.
Gross Profit was 150.207 + 108.921 + 119.663 + 118.072 = $497 Mil.
Total Current Assets was $189 Mil.
Total Assets was $2,887 Mil.
Property, Plant and Equipment(Net PPE) was $1,827 Mil.
Depreciation, Depletion and Amortization(DDA) was $61 Mil.
Selling, General, & Admin. Expense(SGA) was $167 Mil.
Total Current Liabilities was $427 Mil.
Long-Term Debt & Capital Lease Obligation was $2,997 Mil.
Net Income was 38.683 + 21.897 + 29.168 + 26.507 = $116 Mil.
Non Operating Income was -8.154 + -6.391 + -1.796 + -2.091 = $-18 Mil.
Cash Flow from Operations was -22.675 + 32.935 + 87.963 + 31.636 = $130 Mil.
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Total Receivables was $57 Mil.
Revenue was 527.096 + 402.773 + 398.305 + 322.294 = $1,650 Mil.
Gross Profit was 161.48 + 114.126 + 111.993 + 91.825 = $479 Mil.
Total Current Assets was $264 Mil.
Total Assets was $2,907 Mil.
Property, Plant and Equipment(Net PPE) was $1,752 Mil.
Depreciation, Depletion and Amortization(DDA) was $63 Mil.
Selling, General, & Admin. Expense(SGA) was $157 Mil.
Total Current Liabilities was $461 Mil.
Long-Term Debt & Capital Lease Obligation was $2,971 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) |
| = | (63.251 / 1652.708) | / | (56.987 / 1650.468) |
| = | 0.038271 | / | 0.034528 |
| | = | 1.1084 |
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) |
| = | (479.424 / 1650.468) | / | (496.863 / 1652.708) |
| = | 0.290478 | / | 0.300636 |
| | = | 0.9662 |
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 - (188.913 + 1826.967) / 2887.262) | / | (1 - (264.35 + 1752.292) / 2907.018) |
| = | 0.301802 | / | 0.306285 |
| | = | 0.9854 |
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 |
| = | 1652.708 | / | 1650.468 |
| | = | 1.0014 |
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)) |
| = | (63.006 / (63.006 + 1752.292)) | / | (61.358 / (61.358 + 1826.967)) |
| = | 0.034708 | / | 0.032493 |
| | = | 1.0682 |
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) |
| = | (166.721 / 1652.708) | / | (157.141 / 1650.468) |
| = | 0.100877 | / | 0.09521 |
| | = | 1.0595 |
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) |
| = | ((2996.76 + 426.909) / 2887.262) | / | ((2970.704 + 461.315) / 2907.018) |
| = | 1.185784 | / | 1.180598 |
| | = | 1.0044 |
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 |
| = | (116.255 - -18.432 | - | 129.859) | / | 2887.262 |
| | = | 0.001672 |
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.
Jack In The Box has a M-score of -2.40 suggests that the company is unlikely to be a manipulator.
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