Market Cap : 7.68 B | Enterprise Value : 17.69 B | PE Ratio : At Loss | PB Ratio : |
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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:
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.
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.
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.
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.
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.
Thank you for viewing the detailed overview of Wynn Resorts's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
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 |
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