Tilray Brands Beneish M-Score Historical Data
The historical data trend for Tilray Brands'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.
Tilray Brands Beneish M-Score Chart
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Tilray Brands Annual Data
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Trend |
Aug14 |
May15 |
May16 |
May17 |
May18 |
May19 |
May20 |
May21 |
May22 |
May23 |
| Beneish M-Score |
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2.63 |
-1.80 |
-1.75 |
-2.35 |
-3.00 |
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Tilray Brands Quarterly Data
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May19 |
Aug19 |
Nov19 |
Feb20 |
May20 |
Aug20 |
Nov20 |
Feb21 |
May21 |
Aug21 |
Nov21 |
Feb22 |
May22 |
Aug22 |
Nov22 |
Feb23 |
May23 |
Aug23 |
Nov23 |
Feb24 |
| Beneish M-Score |
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-2.46 |
-3.00 |
-3.05 |
-2.70 |
-2.73 |
Competitive Comparison of Tilray Brands's Beneish M-Score
For the Drug Manufacturers - Specialty & Generic subindustry, Tilray Brands'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.
Tilray Brands's Beneish M-Score Distribution in the Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Tilray Brands's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Tilray Brands's Beneish M-Score falls into.
Tilray Brands 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 Tilray Brands 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 * 0.9169 | + | 0.528 * 0.4375 | + | 0.404 * 0.9734 | + | 0.892 * 1.2465 | + | 0.115 * 1.4353 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8501 | + | 4.679 * -0.040261 | - | 0.327 * 0.9123 |
| = | -2.73 |
* 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 (Feb24) TTM: | Last Year (Feb23) TTM: |
Total Receivables was $89.5 Mil.
Revenue was 188.34 + 193.771 + 176.949 + 184.188 = $743.2 Mil.
Gross Profit was 49.396 + 47.409 + 44.196 + 67.163 = $208.2 Mil.
Total Current Assets was $631.2 Mil.
Total Assets was $4,212.9 Mil.
Property, Plant and Equipment(Net PPE) was $596.2 Mil.
Depreciation, Depletion and Amortization(DDA) was $124.2 Mil.
Selling, General, & Admin. Expense(SGA) was $241.8 Mil.
Total Current Liabilities was $329.1 Mil.
Long-Term Debt & Capital Lease Obligation was $365.5 Mil.
Net Income was -92.701 + -49.008 + -71.525 + -138.713 = $-351.9 Mil.
Non Operating Income was -65.966 + -6.247 + -4.749 + -87.358 = $-164.3 Mil.
Cash Flow from Operations was -15.361 + -30.409 + -15.842 + 43.598 = $-18.0 Mil.
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Total Receivables was $78.3 Mil.
Revenue was 145.589 + 144.136 + 153.211 + 153.325 = $596.3 Mil.
Gross Profit was -11.699 + 42.882 + 48.614 + -6.733 = $73.1 Mil.
Total Current Assets was $758.5 Mil.
Total Assets was $4,375.9 Mil.
Property, Plant and Equipment(Net PPE) was $431.8 Mil.
Depreciation, Depletion and Amortization(DDA) was $141.9 Mil.
Selling, General, & Admin. Expense(SGA) was $228.2 Mil.
Total Current Liabilities was $469.7 Mil.
Long-Term Debt & Capital Lease Obligation was $321.1 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) |
| = | (89.542 / 743.248) | / | (78.342 / 596.261) |
| = | 0.120474 | / | 0.131389 |
| | = | 0.9169 |
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) |
| = | (73.064 / 596.261) | / | (208.164 / 743.248) |
| = | 0.122537 | / | 0.280073 |
| | = | 0.4375 |
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 - (631.211 + 596.236) / 4212.856) | / | (1 - (758.512 + 431.755) / 4375.9) |
| = | 0.708643 | / | 0.727995 |
| | = | 0.9734 |
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 |
| = | 743.248 | / | 596.261 |
| | = | 1.2465 |
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)) |
| = | (141.924 / (141.924 + 431.755)) | / | (124.176 / (124.176 + 596.236)) |
| = | 0.247393 | / | 0.172368 |
| | = | 1.4353 |
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) |
| = | (241.805 / 743.248) | / | (228.181 / 596.261) |
| = | 0.325336 | / | 0.382686 |
| | = | 0.8501 |
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) |
| = | ((365.463 + 329.1) / 4212.856) | / | ((321.104 + 469.682) / 4375.9) |
| = | 0.164867 | / | 0.180714 |
| | = | 0.9123 |
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 |
| = | (-351.947 - -164.32 | - | -18.014) | / | 4212.856 |
| | = | -0.040261 |
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.
Tilray Brands has a M-score of -2.73 suggests that the company is unlikely to be a manipulator.
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