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Wynn Resorts Beneish M-Score

: -2.72 (As of Today)
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The zones of discrimination for M-Score is as such:

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.

Good Sign:

Beneish M-Score -2.72 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Wynn Resorts's Beneish M-Score or its related term are showing as below:

WYNN' s Beneish M-Score Range Over the Past 10 Years
Min: -132.93   Med: -2.61   Max: 8731.68
Current: -2.72

During the past 13 years, the highest Beneish M-Score of Wynn Resorts was 8731.68. The lowest was -132.93. And the median was -2.61.


Wynn Resorts Beneish M-Score Historical Data

The historical data trend for Wynn Resorts'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.

* Premium members only.

Wynn Resorts Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Beneish M-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.70 -1.98 -2.64 -2.52 -2.45

Wynn Resorts Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
Beneish M-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.98 -2.26 -2.45 -2.37 -

Competitive Comparison

For the Resorts & Casinos subindustry, Wynn Resorts'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.

   

Wynn Resorts Beneish M-Score Distribution

For the Travel & Leisure industry and Consumer Cyclical sector, Wynn Resorts's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Wynn Resorts's Beneish M-Score falls into.



Wynn Resorts 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 Wynn Resorts 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 * 0.5409+0.528 * 0.9103+0.404 * 1.0337+0.892 * 1.4009+0.115 * 1.0167
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8188+4.679 * -0.0307-0.327 * 1.0901
=-2.72

* 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 (Jun22) TTM:Last Year (Jun21) TTM:
Total Receivables was $186 Mil.
Revenue was 908.832 + 953.334 + 1042.225 + 994.644 = $3,899 Mil.
Gross Profit was 339.242 + 334.98 + 334.308 + 307.083 = $1,316 Mil.
Total Current Assets was $2,371 Mil.
Total Assets was $11,789 Mil.
Property, Plant and Equipment(Net PPE) was $8,953 Mil.
Depreciation, Depletion and Amortization(DDA) was $695 Mil.
Selling, General, & Admin. Expense(SGA) was $816 Mil.
Total Current Liabilities was $1,617 Mil.
Long-Term Debt & Capital Lease Obligation was $11,478 Mil.
Net Income was -130.051 + -183.324 + -177.19 + -166.249 = $-657 Mil.
Non Operating Income was -35.446 + -53.447 + -25.992 + -26.647 = $-142 Mil.
Cash Flow from Operations was -40.066 + -117.385 + -5.759 + 9.975 = $-153 Mil.
Total Receivables was $246 Mil.
Revenue was 990.113 + 736.682 + 685.995 + 370.452 = $2,783 Mil.
Gross Profit was 359.918 + 203.774 + 207.41 + 83.745 = $855 Mil.
Total Current Assets was $3,215 Mil.
Total Assets was $13,023 Mil.
Property, Plant and Equipment(Net PPE) was $9,312 Mil.
Depreciation, Depletion and Amortization(DDA) was $736 Mil.
Selling, General, & Admin. Expense(SGA) was $712 Mil.
Total Current Liabilities was $2,538 Mil.
Long-Term Debt & Capital Lease Obligation was $10,732 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)
=(186.38 / 3899.035) / (245.959 / 2783.242)
=0.04780157 / 0.0883714
=0.5409

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)
=(854.847 / 2783.242) / (1315.613 / 3899.035)
=0.30714074 / 0.33742016
=0.9103

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 - (2371.214 + 8953.481) / 11788.531) / (1 - (3215.089 + 9311.887) / 13022.665)
=0.03934638 / 0.03806356
=1.0337

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
=3899.035 / 2783.242
=1.4009

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))
=(735.918 / (735.918 + 9311.887)) / (695.058 / (695.058 + 8953.481))
=0.07324167 / 0.07203764
=1.0167

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)
=(816.431 / 3899.035) / (711.759 / 2783.242)
=0.20939309 / 0.25573019
=0.8188

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)
=((11477.502 + 1617.269) / 11788.531) / ((10732.031 + 2538.302) / 13022.665)
=1.110806 / 1.01901823
=1.0901

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
=(-656.814 - -141.532 - -153.235) / 11788.531
=-0.0307

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.

Wynn Resorts has a M-score of -2.72 suggests that the company is unlikely to be a manipulator.


Wynn Resorts Beneish M-Score Related Terms

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Wynn Resorts Business Description

Wynn Resorts logo
Address
3131 Las Vegas Boulevard South, Las Vegas, NV, USA, 89109
Wynn Resorts operates luxury casinos and resorts. The company was founded in 2002 by Steve Wynn, the former CEO. The company operates four megaresorts: Wynn Macau and Encore in Macao and Wynn Las Vegas and Encore in Las Vegas. Cotai Palace opened in August 2016 in Macao, Encore Boston Harbor in Massachusetts opened June 2019. Additionally, we expect the company to begin construction on a new building next to its existing Macao Palace resort in 2022, which we forecast to open in 2025. The company also operates Wynn Interactive, a digital sports betting and iGaming platform. The company received 76% and 24% of its 2019 prepandemic EBITDA from Macao and Las Vegas, respectively.
Executives
Cameron-doe Julie officer: CFO C/O WYNN RESORTS, LIMITED 3131 LAS VEGAS BOULEVARD S. LAS VEGAS NV 89109
Strom Darnell O. director C/O WYNN RESORTS, LIMITED 3131 LAS VEGAS BOULEVARD S. LAS VEGAS NV 89109
Byrne Richard J director 350 PARK AVENUE 20TH FLOOR NEW YORK NY 10022
Satre Philip G director
Whittemore Ellen F officer: EVP and General Counsel C/O WYNN RESORTS, LIMITED 3131 LAS VEGAS BOULEVARD SOUTH LAS VEGAS NV 89109
Atkins Betsy S director
Myers Margaret Jane director C/O WYNN RESORTS, LIMITED 3131 LAS VEGAS BOULEVARD SOUTH LAS VEGAS NV 89109
Webb Winifred Markus director 9330 BALBOA AVE SAN DIEGO CA 92123
Wynn Stephen A 10 percent owner 3131 LAS VEGAS BOULEVARD SOUTH LAS VEGAS NV 89109
Billings Craig Scott officer: CFO and Treasurer C/O WYNN RESORTS, LIMITED 3131 LAS VEGAS BOULEVARD SOUTH LAS VEGAS NV 89109
Cootey Stephen Lawrence officer: CFO, SVP and Treasurer C/O RED ROCK RESORTS, INC. 1505 SOUTH PAVILION CENTER DRIVE, LAS VEGAS NV 89135
Johnson Jay L director P O BOX 26532 RICHMOND VA 23261
Virtue J Edward director 320 PARK AVENUE 17TH FLOOR NEW YORK NY 10022
Wayson Daniel Boone director C/O WYNN RESORTS, LIMITED 3145 LAS VEGAS BOULEVARD SOUTH LAS VEGAS NV 89109
Miller Robert Jos director 6363 SOUTH FIDDLERS GREEN CIRCLE GREENWOOD VILLAGE CO 80111

Wynn Resorts Headlines

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