Dave & Buster's Entertainment Beneish M-Score Historical Data
The historical data trend for Dave & Buster's Entertainment'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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Dave & Buster's Entertainment Annual Data
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Trend |
Jan15 |
Jan16 |
Jan17 |
Jan18 |
Jan19 |
Jan20 |
Jan21 |
Jan22 |
Jan23 |
Jan24 |
| Beneish M-Score |
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-2.96 |
81.45 |
-1.61 |
-2.65 |
-2.79 |
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Dave & Buster's Entertainment Quarterly Data
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Apr19 |
Jul19 |
Oct19 |
Jan20 |
Apr20 |
Jul20 |
Oct20 |
Jan21 |
Apr21 |
Jul21 |
Oct21 |
Jan22 |
Apr22 |
Jul22 |
Oct22 |
Jan23 |
Apr23 |
Jul23 |
Oct23 |
Jan24 |
| Beneish M-Score |
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-2.65 |
-1.50 |
-2.34 |
-3.14 |
-2.79 |
Competitive Comparison
For the Entertainment subindustry, Dave & Buster's Entertainment'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.
Dave & Buster's Entertainment Beneish M-Score Distribution
For the Media - Diversified industry and Communication Services sector, Dave & Buster's Entertainment's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Dave & Buster's Entertainment's Beneish M-Score falls into.
Dave & Buster's Entertainment 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 Dave & Buster's Entertainment 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 * 0.8455 | + | 0.528 * 0.9948 | + | 0.404 * 1.0095 | + | 0.892 * 1.1226 | + | 0.115 * 0.8669 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9495 | + | 4.679 * -0.057 | - | 0.327 * 1.0171 |
| = | -2.79 |
* 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 (Jan23) TTM: |
Total Receivables was $45 Mil.
Revenue was 599 + 466.9 + 542.1 + 597.3 = $2,205 Mil.
Gross Profit was 508.7 + 394.1 + 458.5 + 507 = $1,868 Mil.
Total Current Assets was $138 Mil.
Total Assets was $3,754 Mil.
Property, Plant and Equipment(Net PPE) was $2,656 Mil.
Depreciation, Depletion and Amortization(DDA) was $209 Mil.
Selling, General, & Admin. Expense(SGA) was $649 Mil.
Total Current Liabilities was $436 Mil.
Long-Term Debt & Capital Lease Obligation was $2,843 Mil.
Net Income was 36.1 + -5.2 + 25.9 + 70.1 = $127 Mil.
Non Operating Income was -10.6 + -4 + -4 + -4.7 = $-23 Mil.
Cash Flow from Operations was 97.2 + 70.8 + 103.8 + 92.4 = $364 Mil.
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Total Receivables was $47 Mil.
Revenue was 563.7 + 481.2 + 468.4 + 451.1 = $1,964 Mil.
Gross Profit was 476.6 + 405 + 392.8 + 381.1 = $1,656 Mil.
Total Current Assets was $294 Mil.
Total Assets was $3,761 Mil.
Property, Plant and Equipment(Net PPE) was $2,514 Mil.
Depreciation, Depletion and Amortization(DDA) was $169 Mil.
Selling, General, & Admin. Expense(SGA) was $609 Mil.
Total Current Liabilities was $438 Mil.
Long-Term Debt & Capital Lease Obligation was $2,791 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) |
| = | (44.8 / 2205.3) | / | (47.2 / 1964.4) |
| = | 0.020315 | / | 0.024028 |
| | = | 0.8455 |
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) |
| = | (1655.5 / 1964.4) | / | (1868.3 / 2205.3) |
| = | 0.842751 | / | 0.847186 |
| | = | 0.9948 |
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 - (137.5 + 2656) / 3754.4) | / | (1 - (293.7 + 2513.8) / 3761) |
| = | 0.25594 | / | 0.253523 |
| | = | 1.0095 |
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 |
| = | 2205.3 | / | 1964.4 |
| | = | 1.1226 |
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)) |
| = | (169.3 / (169.3 + 2513.8)) | / | (208.5 / (208.5 + 2656)) |
| = | 0.063099 | / | 0.072788 |
| | = | 0.8669 |
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) |
| = | (648.6 / 2205.3) | / | (608.5 / 1964.4) |
| = | 0.29411 | / | 0.309764 |
| | = | 0.9495 |
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) |
| = | ((2842.5 + 435.6) / 3754.4) | / | ((2790.5 + 438) / 3761) |
| = | 0.873136 | / | 0.858415 |
| | = | 1.0171 |
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 |
| = | (126.9 - -23.3 | - | 364.2) | / | 3754.4 |
| | = | -0.057 |
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.
Dave & Buster's Entertainment has a M-score of -2.79 suggests that the company is unlikely to be a manipulator.
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