Aramark Beneish M-Score Historical Data
The historical data trend for Aramark'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.
|
Aramark Annual Data
|
|
Trend |
Sep14 |
Sep15 |
Sep16 |
Sep17 |
Sep18 |
Sep19 |
Sep20 |
Sep21 |
Sep22 |
Sep23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.62 |
-2.58 |
-2.63 |
-2.41 |
-2.54 |
|
Aramark 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.35 |
-2.35 |
-2.40 |
-2.54 |
-2.73 |
Competitive Comparison
For the Specialty Business Services subindustry, Aramark'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.
Aramark Beneish M-Score Distribution
For the Business Services industry and Industrials sector, Aramark's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Aramark's Beneish M-Score falls into.
Aramark 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 Aramark 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 * 0.8347 | + | 0.528 * 0.99 | + | 0.404 * 0.9576 | + | 0.892 * 1.1454 | + | 0.115 * 0.7627 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.944 | + | 4.679 * -0.042225 | - | 0.327 * 0.966 |
| = | -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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $2,199 Mil.
Revenue was 4407.765 + 4901.565 + 4749.209 + 4602.085 = $18,661 Mil.
Gross Profit was 362.687 + 519.973 + 434.499 + 422.674 = $1,740 Mil.
Total Current Assets was $3,167 Mil.
Total Assets was $12,419 Mil.
Property, Plant and Equipment(Net PPE) was $2,088 Mil.
Depreciation, Depletion and Amortization(DDA) was $549 Mil.
Selling, General, & Admin. Expense(SGA) was $394 Mil.
Total Current Liabilities was $2,489 Mil.
Long-Term Debt & Capital Lease Obligation was $6,175 Mil.
Net Income was 28.536 + 205.432 + 338.484 + 56.041 = $628 Mil.
Non Operating Income was 0 + 51.831 + 375.972 + 0 = $428 Mil.
Cash Flow from Operations was -657.077 + 1036.522 + 22.629 + 323.026 = $725 Mil.
|
Total Receivables was $2,300 Mil.
Revenue was 3913.72 + 4390.457 + 4127.378 + 3860.529 = $16,292 Mil.
Gross Profit was 321.918 + 432.998 + 379.55 + 369.291 = $1,504 Mil.
Total Current Assets was $3,435 Mil.
Total Assets was $15,291 Mil.
Property, Plant and Equipment(Net PPE) was $2,645 Mil.
Depreciation, Depletion and Amortization(DDA) was $499 Mil.
Selling, General, & Admin. Expense(SGA) was $365 Mil.
Total Current Liabilities was $2,684 Mil.
Long-Term Debt & Capital Lease Obligation was $8,358 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) |
| = | (2198.781 / 18660.624) | / | (2299.81 / 16292.084) |
| = | 0.11783 | / | 0.141161 |
| | = | 0.8347 |
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) |
| = | (1503.757 / 16292.084) | / | (1739.833 / 18660.624) |
| = | 0.0923 | / | 0.093236 |
| | = | 0.99 |
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 - (3167.42 + 2088.44) / 12419.449) | / | (1 - (3435.142 + 2644.932) / 15290.542) |
| = | 0.576804 | / | 0.602364 |
| | = | 0.9576 |
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 |
| = | 18660.624 | / | 16292.084 |
| | = | 1.1454 |
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)) |
| = | (499.406 / (499.406 + 2644.932)) | / | (549.309 / (549.309 + 2088.44)) |
| = | 0.158827 | / | 0.208249 |
| | = | 0.7627 |
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) |
| = | (394.181 / 18660.624) | / | (364.548 / 16292.084) |
| = | 0.021124 | / | 0.022376 |
| | = | 0.944 |
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) |
| = | ((6174.64 + 2489.414) / 12419.449) | / | ((8358.217 + 2684.218) / 15290.542) |
| = | 0.69762 | / | 0.722174 |
| | = | 0.966 |
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 |
| = | (628.493 - 427.803 | - | 725.1) | / | 12419.449 |
| | = | -0.042225 |
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.
Aramark has a M-score of -2.73 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
ARMK has been successfully added to your