Sothebys Beneish M-Score Historical Data
The historical data trend for Sothebys'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.
Sothebys Beneish M-Score Chart
|
Sothebys Annual Data
|
|
Trend |
Dec09 |
Dec10 |
Dec11 |
Dec12 |
Dec13 |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.14 |
-2.57 |
-3.01 |
-2.24 |
-1.85 |
|
Sothebys Quarterly Data
|
|
Sep14 |
Dec14 |
Mar15 |
Jun15 |
Sep15 |
Dec15 |
Mar16 |
Jun16 |
Sep16 |
Dec16 |
Mar17 |
Jun17 |
Sep17 |
Dec17 |
Mar18 |
Jun18 |
Sep18 |
Dec18 |
Mar19 |
Jun19 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.66 |
-2.44 |
-1.85 |
-2.08 |
-2.12 |
Competitive Comparison of Sothebys's Beneish M-Score
For the Specialty Retail subindustry, Sothebys'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.
Sothebys's Beneish M-Score Distribution in the Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Sothebys's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sothebys's Beneish M-Score falls into.
Sothebys 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 Sothebys 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 * 0.8235 | + | 0.528 * 0.9008 | + | 0.404 * 1.513 | + | 0.892 * 0.9716 | + | 0.115 * 1.0148 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0487 | + | 4.679 * 0.084066 | - | 0.327 * 1.0526 |
| = | -2.14 |
* 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 (Jun19) TTM: | Last Year (Jun18) TTM: |
Total Receivables was $960 Mil.
Revenue was 361.778 + 173.465 + 375.147 + 119.161 = $1,030 Mil.
Gross Profit was 272.609 + 134.496 + 288.628 + 93.217 = $789 Mil.
Total Current Assets was $1,203 Mil.
Total Assets was $2,751 Mil.
Property, Plant and Equipment(Net PPE) was $483 Mil.
Depreciation, Depletion and Amortization(DDA) was $37 Mil.
Selling, General, & Admin. Expense(SGA) was $553 Mil.
Total Current Liabilities was $1,159 Mil.
Long-Term Debt & Capital Lease Obligation was $1,022 Mil.
Net Income was 57.006 + -7.071 + 85.712 + -27.838 = $108 Mil.
Non Operating Income was -13.033 + 1.867 + -9.808 + -0.609 = $-22 Mil.
Cash Flow from Operations was 130.399 + -137.632 + 179.772 + -274.379 = $-102 Mil.
|
Total Receivables was $1,199 Mil.
Revenue was 345.636 + 195.796 + 338.204 + 180.008 = $1,060 Mil.
Gross Profit was 241.98 + 142.265 + 270.903 + 76.285 = $731 Mil.
Total Current Assets was $1,737 Mil.
Total Assets was $2,812 Mil.
Property, Plant and Equipment(Net PPE) was $356 Mil.
Depreciation, Depletion and Amortization(DDA) was $27 Mil.
Selling, General, & Admin. Expense(SGA) was $543 Mil.
Total Current Liabilities was $1,407 Mil.
Long-Term Debt & Capital Lease Obligation was $711 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) |
| = | (959.625 / 1029.551) | / | (1199.39 / 1059.644) |
| = | 0.932081 | / | 1.13188 |
| | = | 0.8235 |
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) |
| = | (731.433 / 1059.644) | / | (788.95 / 1029.551) |
| = | 0.690263 | / | 0.766305 |
| | = | 0.9008 |
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 - (1203.261 + 483.293) / 2750.588) | / | (1 - (1736.627 + 356.162) / 2811.667) |
| = | 0.386839 | / | 0.255677 |
| | = | 1.513 |
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 |
| = | 1029.551 | / | 1059.644 |
| | = | 0.9716 |
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)) |
| = | (27.436 / (27.436 + 356.162)) | / | (36.644 / (36.644 + 483.293)) |
| = | 0.071523 | / | 0.070478 |
| | = | 1.0148 |
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) |
| = | (553.168 / 1029.551) | / | (542.911 / 1059.644) |
| = | 0.537291 | / | 0.512352 |
| | = | 1.0487 |
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) |
| = | ((1021.704 + 1159.216) / 2750.588) | / | ((711.411 + 1406.569) / 2811.667) |
| = | 0.792892 | / | 0.753283 |
| | = | 1.0526 |
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 |
| = | (107.809 - -21.583 | - | -101.84) | / | 2750.588 |
| | = | 0.084066 |
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.
Sothebys has a M-score of -2.14 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
BID has been successfully added to your