Premier Beneish M-Score Historical Data
The historical data trend for Premier'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.
Premier Beneish M-Score Chart
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Premier Annual Data
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Trend |
Jun15 |
Jun16 |
Jun17 |
Jun18 |
Jun19 |
Jun20 |
Jun21 |
Jun22 |
Jun23 |
Jun24 |
| Beneish M-Score |
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-2.87 |
-2.43 |
-3.04 |
-2.82 |
-2.62 |
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Premier 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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-2.74 |
-2.62 |
-2.66 |
-3.34 |
-3.20 |
Competitive Comparison of Premier's Beneish M-Score
For the Health Information Services subindustry, Premier'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.
Premier's Beneish M-Score Distribution in the Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Premier's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Premier's Beneish M-Score falls into.
Premier 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 Premier 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 * 0.8639 | + | 0.528 * 1.1661 | + | 0.404 * 1.0172 | + | 0.892 * 1.0716 | + | 0.115 * 1.0104 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8803 | + | 4.679 * -0.146011 | - | 0.327 * 1.2658 |
| = | -3.20 |
* 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 $422 Mil.
Revenue was 261.382 + 240.266 + 248.142 + 510.598 = $1,260 Mil.
Gross Profit was 193.169 + 171.208 + 180.418 + 252.707 = $798 Mil.
Total Current Assets was $576 Mil.
Total Assets was $3,072 Mil.
Property, Plant and Equipment(Net PPE) was $209 Mil.
Depreciation, Depletion and Amortization(DDA) was $119 Mil.
Selling, General, & Admin. Expense(SGA) was $696 Mil.
Total Current Liabilities was $881 Mil.
Long-Term Debt & Capital Lease Obligation was $3 Mil.
Net Income was 27.068 + -96.018 + 70.784 + 60.676 = $63 Mil.
Non Operating Income was 12.716 + 32.806 + 62.092 + 3.676 = $111 Mil.
Cash Flow from Operations was 114.129 + 111.668 + 67.647 + 106.29 = $400 Mil.
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Total Receivables was $455 Mil.
Revenue was 286.866 + 279.871 + 269.026 + 340.364 = $1,176 Mil.
Gross Profit was 216.53 + 213.881 + 204.894 + 232.493 = $868 Mil.
Total Current Assets was $675 Mil.
Total Assets was $3,364 Mil.
Property, Plant and Equipment(Net PPE) was $228 Mil.
Depreciation, Depletion and Amortization(DDA) was $132 Mil.
Selling, General, & Admin. Expense(SGA) was $737 Mil.
Total Current Liabilities was $726 Mil.
Long-Term Debt & Capital Lease Obligation was $39 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) |
| = | (421.636 / 1260.388) | / | (455.415 / 1176.127) |
| = | 0.334529 | / | 0.387216 |
| | = | 0.8639 |
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) |
| = | (867.798 / 1176.127) | / | (797.502 / 1260.388) |
| = | 0.737844 | / | 0.632743 |
| | = | 1.1661 |
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 - (576.425 + 209.273) / 3071.792) | / | (1 - (674.699 + 228.063) / 3363.73) |
| = | 0.744222 | / | 0.731619 |
| | = | 1.0172 |
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 |
| = | 1260.388 | / | 1176.127 |
| | = | 1.0716 |
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)) |
| = | (131.549 / (131.549 + 228.063)) | / | (118.758 / (118.758 + 209.273)) |
| = | 0.365808 | / | 0.362033 |
| | = | 1.0104 |
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) |
| = | (695.603 / 1260.388) | / | (737.345 / 1176.127) |
| = | 0.551896 | / | 0.626926 |
| | = | 0.8803 |
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) |
| = | ((2.761 + 880.707) / 3071.792) | / | ((38.629 + 725.679) / 3363.73) |
| = | 0.287607 | / | 0.22722 |
| | = | 1.2658 |
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 |
| = | (62.51 - 111.29 | - | 399.734) | / | 3071.792 |
| | = | -0.146011 |
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.
Premier has a M-score of -3.20 suggests that the company is unlikely to be a manipulator.
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