Regency Centers Beneish M-Score Historical Data
The historical data trend for Regency Centers'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.
Regency Centers Beneish M-Score Chart
|
Regency Centers Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.63 |
-2.80 |
-2.55 |
-2.41 |
-2.51 |
|
Regency Centers Quarterly Data
|
|
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.41 |
-2.47 |
-2.40 |
-2.45 |
-2.51 |
Competitive Comparison of Regency Centers's Beneish M-Score
For the REIT - Retail subindustry, Regency Centers'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.
Regency Centers's Beneish M-Score Distribution in the REITs Industry
For the REITs industry and Real Estate sector, Regency Centers's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Regency Centers's Beneish M-Score falls into.
Regency Centers 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 Regency Centers 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 * 1.053 | + | 0.528 * 1.0226 | + | 0.404 * 0.9964 | + | 0.892 * 1.0804 | + | 0.115 * 1.0483 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1329 | + | 4.679 * -0.033127 | - | 0.327 * 0.9767 |
| = | -2.51 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $215 Mil.
Revenue was 359.604 + 330.638 + 314.247 + 317.977 = $1,322 Mil.
Gross Profit was 246.635 + 231.24 + 221.344 + 228.478 = $928 Mil.
Total Current Assets was $325 Mil.
Total Assets was $12,427 Mil.
Property, Plant and Equipment(Net PPE) was $335 Mil.
Depreciation, Depletion and Amortization(DDA) was $323 Mil.
Selling, General, & Admin. Expense(SGA) was $98 Mil.
Total Current Liabilities was $511 Mil.
Long-Term Debt & Capital Lease Obligation was $4,248 Mil.
Net Income was 89.774 + 90.72 + 86.782 + 97.281 = $365 Mil.
Non Operating Income was 17.59 + 11.572 + 13.692 + 13.784 = $57 Mil.
Cash Flow from Operations was 171.906 + 213.008 + 172.578 + 162.099 = $720 Mil.
|
Total Receivables was $189 Mil.
Revenue was 314.517 + 303.989 + 302.083 + 303.433 = $1,224 Mil.
Gross Profit was 223.857 + 216.486 + 217.633 + 220.103 = $878 Mil.
Total Current Assets was $258 Mil.
Total Assets was $10,860 Mil.
Property, Plant and Equipment(Net PPE) was $281 Mil.
Depreciation, Depletion and Amortization(DDA) was $299 Mil.
Selling, General, & Admin. Expense(SGA) was $80 Mil.
Total Current Liabilities was $317 Mil.
Long-Term Debt & Capital Lease Obligation was $3,940 Mil.
|
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) |
| = | (214.867 / 1322.466) | / | (188.863 / 1224.022) |
| = | 0.162474 | / | 0.154297 |
| | = | 1.053 |
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) |
| = | (878.079 / 1224.022) | / | (927.697 / 1322.466) |
| = | 0.717372 | / | 0.70149 |
| | = | 1.0226 |
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 - (325.099 + 334.664) / 12426.913) | / | (1 - (257.639 + 281.321) / 10860.22) |
| = | 0.946909 | / | 0.950373 |
| | = | 0.9964 |
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 |
| = | 1322.466 | / | 1224.022 |
| | = | 1.0804 |
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)) |
| = | (298.702 / (298.702 + 281.321)) | / | (323.152 / (323.152 + 334.664)) |
| = | 0.514983 | / | 0.49125 |
| | = | 1.0483 |
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) |
| = | (97.806 / 1322.466) | / | (79.903 / 1224.022) |
| = | 0.073957 | / | 0.065279 |
| | = | 1.1329 |
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) |
| = | ((4248.012 + 510.612) / 12426.913) | / | ((3940.476 + 317.259) / 10860.22) |
| = | 0.382929 | / | 0.392049 |
| | = | 0.9767 |
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 |
| = | (364.557 - 56.638 | - | 719.591) | / | 12426.913 |
| | = | -0.033127 |
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.
Regency Centers has a M-score of -2.51 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
REG has been successfully added to your