LifePoint Health Beneish M-Score Historical Data
The historical data trend for LifePoint Health'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.
LifePoint Health Beneish M-Score Chart
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LifePoint Health Annual Data
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Trend |
Dec08 |
Dec09 |
Dec10 |
Dec11 |
Dec12 |
Dec13 |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
| Beneish M-Score |
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-2.65 |
-2.43 |
-2.77 |
-2.60 |
-2.83 |
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LifePoint Health Quarterly Data
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Dec13 |
Mar14 |
Jun14 |
Sep14 |
Dec14 |
Mar15 |
Jun15 |
Sep15 |
Dec15 |
Mar16 |
Jun16 |
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Mar17 |
Jun17 |
Sep17 |
Dec17 |
Mar18 |
Jun18 |
Sep18 |
| Beneish M-Score |
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-2.59 |
-2.83 |
-2.84 |
-2.87 |
-2.89 |
Competitive Comparison of LifePoint Health's Beneish M-Score
For the Medical Care Facilities subindustry, LifePoint Health'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.
LifePoint Health's Beneish M-Score Distribution in the Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, LifePoint Health's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where LifePoint Health's Beneish M-Score falls into.
LifePoint Health 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 LifePoint Health 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 * 0.8281 | + | 0.528 * 0.8613 | + | 0.404 * 1.028 | + | 0.892 * 1.0837 | + | 0.115 * 1.0499 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9551 | + | 4.679 * -0.060699 | - | 0.327 * 0.9952 |
| = | -2.89 |
* 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 (Sep18) TTM: | Last Year (Sep17) TTM: |
Total Receivables was $804 Mil.
Revenue was 1557 + 1569.8 + 1602.8 + 2462.1 = $7,192 Mil.
Gross Profit was 541.2 + 573.6 + 574.3 + 1450.8 = $3,140 Mil.
Total Current Assets was $1,321 Mil.
Total Assets was $6,277 Mil.
Property, Plant and Equipment(Net PPE) was $3,007 Mil.
Depreciation, Depletion and Amortization(DDA) was $331 Mil.
Selling, General, & Admin. Expense(SGA) was $535 Mil.
Total Current Liabilities was $715 Mil.
Long-Term Debt & Capital Lease Obligation was $2,860 Mil.
Net Income was 22.3 + 52.4 + -8.8 + -27.5 = $38 Mil.
Non Operating Income was -33.4 + 8.9 + -66 + -66.6 = $-157 Mil.
Cash Flow from Operations was 162.9 + 134.8 + 100.6 + 178.2 = $577 Mil.
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Total Receivables was $896 Mil.
Revenue was 1576 + 1594.8 + 1630.2 + 1835.4 = $6,636 Mil.
Gross Profit was 565.1 + 569.6 + 565.1 + 795.7 = $2,496 Mil.
Total Current Assets was $1,429 Mil.
Total Assets was $6,389 Mil.
Property, Plant and Equipment(Net PPE) was $3,030 Mil.
Depreciation, Depletion and Amortization(DDA) was $352 Mil.
Selling, General, & Admin. Expense(SGA) was $517 Mil.
Total Current Liabilities was $775 Mil.
Long-Term Debt & Capital Lease Obligation was $2,882 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) |
| = | (803.7 / 7191.7) | / | (895.6 / 6636.4) |
| = | 0.111754 | / | 0.134953 |
| | = | 0.8281 |
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) |
| = | (2495.5 / 6636.4) | / | (3139.9 / 7191.7) |
| = | 0.376032 | / | 0.436601 |
| | = | 0.8613 |
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 - (1320.5 + 3007.4) / 6276.9) | / | (1 - (1429.1 + 3029.9) / 6388.8) |
| = | 0.310504 | / | 0.30206 |
| | = | 1.028 |
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 |
| = | 7191.7 | / | 6636.4 |
| | = | 1.0837 |
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)) |
| = | (351.5 / (351.5 + 3029.9)) | / | (330.5 / (330.5 + 3007.4)) |
| = | 0.103951 | / | 0.099014 |
| | = | 1.0499 |
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) |
| = | (534.8 / 7191.7) | / | (516.7 / 6636.4) |
| = | 0.074364 | / | 0.077858 |
| | = | 0.9551 |
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) |
| = | ((2859.8 + 715.4) / 6276.9) | / | ((2881.9 + 774.6) / 6388.8) |
| = | 0.569581 | / | 0.57233 |
| | = | 0.9952 |
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 |
| = | (38.4 - -157.1 | - | 576.5) | / | 6276.9 |
| | = | -0.060699 |
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.
LifePoint Health has a M-score of -2.89 suggests that the company is unlikely to be a manipulator.
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