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.
Wynn Resorts Beneish M-Score Chart
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Wynn Resorts Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.52 |
-2.45 |
-2.58 |
-1.68 |
-2.57 |
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Wynn Resorts Quarterly Data
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Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
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Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
Mar25 |
| Beneish M-Score |
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-1.95 |
-1.81 |
-1.73 |
-2.57 |
-2.39 |
Competitive Comparison of Wynn Resorts's Beneish M-Score
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's Beneish M-Score Distribution in the Travel & Leisure Industry
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 * 1.1248 | + | 0.528 * 1.0178 | + | 0.404 * 1.4927 | + | 0.892 * 0.9992 | + | 0.115 * 1.0672 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.008 | + | 4.679 * -0.050608 | - | 0.327 * 1.0104 |
| = | -2.39 |
* 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 $334 Mil.
Revenue was 1700.397 + 1838.797 + 1693.323 + 1732.932 = $6,965 Mil.
Gross Profit was 718.614 + 803.278 + 716.107 + 753.592 = $2,992 Mil.
Total Current Assets was $2,594 Mil.
Total Assets was $12,724 Mil.
Property, Plant and Equipment(Net PPE) was $8,339 Mil.
Depreciation, Depletion and Amortization(DDA) was $639 Mil.
Selling, General, & Admin. Expense(SGA) was $1,085 Mil.
Total Current Liabilities was $2,397 Mil.
Long-Term Debt & Capital Lease Obligation was $11,144 Mil.
Net Income was 72.747 + 276.972 + -32.053 + 111.943 = $430 Mil.
Non Operating Income was -43.2 + -164.155 + 13.32 + 22.704 = $-171 Mil.
Cash Flow from Operations was 133.774 + 479.028 + 279.321 + 352.76 = $1,245 Mil.
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Total Receivables was $297 Mil.
Revenue was 1862.909 + 1840.46 + 1671.936 + 1595.822 = $6,971 Mil.
Gross Profit was 828.56 + 817.344 + 713.024 + 688.475 = $3,047 Mil.
Total Current Assets was $3,771 Mil.
Total Assets was $13,471 Mil.
Property, Plant and Equipment(Net PPE) was $8,430 Mil.
Depreciation, Depletion and Amortization(DDA) was $693 Mil.
Selling, General, & Admin. Expense(SGA) was $1,077 Mil.
Total Current Liabilities was $2,633 Mil.
Long-Term Debt & Capital Lease Obligation was $11,555 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) |
| = | (334.004 / 6965.449) | / | (297.192 / 6971.127) |
| = | 0.047952 | / | 0.042632 |
| | = | 1.1248 |
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) |
| = | (3047.403 / 6971.127) | / | (2991.591 / 6965.449) |
| = | 0.437146 | / | 0.42949 |
| | = | 1.0178 |
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 - (2594.448 + 8338.647) / 12724.044) | / | (1 - (3770.912 + 8429.568) / 13470.736) |
| = | 0.140753 | / | 0.094297 |
| | = | 1.4927 |
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 |
| = | 6965.449 | / | 6971.127 |
| | = | 0.9992 |
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)) |
| = | (693.391 / (693.391 + 8429.568)) | / | (639.383 / (639.383 + 8338.647)) |
| = | 0.076005 | / | 0.071216 |
| | = | 1.0672 |
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) |
| = | (1084.548 / 6965.449) | / | (1076.866 / 6971.127) |
| = | 0.155704 | / | 0.154475 |
| | = | 1.008 |
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) |
| = | ((11144.457 + 2396.795) / 12724.044) | / | ((11555.165 + 2633.12) / 13470.736) |
| = | 1.064225 | / | 1.053267 |
| | = | 1.0104 |
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 |
| = | (429.609 - -171.331 | - | 1244.883) | / | 12724.044 |
| | = | -0.050608 |
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 -2.39 suggests that the company is unlikely to be a manipulator.
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