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Big Lots (Big Lots) Beneish M-Score

: -3.44 (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 -3.44 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

BIG' s Beneish M-Score Range Over the Past 10 Years
Min: -3.44   Med: -2.81   Max: -1.86
Current: -3.44

During the past 13 years, the highest Beneish M-Score of Big Lots was -1.86. The lowest was -3.44. And the median was -2.81.


Big Lots Beneish M-Score Historical Data

The historical data trend for Big Lots'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.

Big Lots Annual Data
Trend Jan14 Jan15 Jan16 Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23
Beneish M-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.71 -2.96 -2.59 -2.70 -2.23

Big Lots Quarterly Data
Jan19 Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23
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 -2.21 -2.23 -1.86 -3.34 -3.44

Competitive Comparison

For the Discount Stores subindustry, Big Lots'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.


Big Lots Beneish M-Score Distribution

For the Retail - Defensive industry and Consumer Defensive sector, Big Lots's Beneish M-Score distribution charts can be found below:

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



Big Lots 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 Big Lots 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+0.528 * 1.0025+0.404 * 0.4547+0.892 * 0.8543+0.115 * 0.9119
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2214+4.679 * -0.110984-0.327 * 1.1353
=-3.44

* 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 (Oct23) TTM:Last Year (Oct22) TTM:
Total Receivables was $0 Mil.
Revenue was 1026.677 + 1139.361 + 1123.577 + 1543.113 = $4,833 Mil.
Gross Profit was 373.815 + 375.884 + 392.469 + 560.901 = $1,703 Mil.
Total Current Assets was $1,314 Mil.
Total Assets was $3,625 Mil.
Property, Plant and Equipment(Net PPE) was $2,274 Mil.
Depreciation, Depletion and Amortization(DDA) was $156 Mil.
Selling, General, & Admin. Expense(SGA) was $2,124 Mil.
Total Current Liabilities was $912 Mil.
Long-Term Debt & Capital Lease Obligation was $2,207 Mil.
Net Income was 4.743 + -249.837 + -206.073 + -12.463 = $-464 Mil.
Non Operating Income was 204.719 + 0 + 0.005 + -1.605 = $203 Mil.
Cash Flow from Operations was -248.521 + 18.327 + -168.938 + 134.753 = $-264 Mil.
Total Receivables was $0 Mil.
Revenue was 1204.281 + 1346.221 + 1374.714 + 1732.021 = $5,657 Mil.
Gross Profit was 409.46 + 438.548 + 504.594 + 646.082 = $1,999 Mil.
Total Current Assets was $1,530 Mil.
Total Assets was $4,035 Mil.
Property, Plant and Equipment(Net PPE) was $2,412 Mil.
Depreciation, Depletion and Amortization(DDA) was $150 Mil.
Selling, General, & Admin. Expense(SGA) was $2,035 Mil.
Total Current Liabilities was $1,023 Mil.
Long-Term Debt & Capital Lease Obligation was $2,036 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)
=(0 / 4832.728) / (0 / 5657.237)
=0 / 0
=1

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)
=(1998.684 / 5657.237) / (1703.069 / 4832.728)
=0.353297 / 0.352403
=1.0025

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 - (1313.687 + 2273.548) / 3625.489) / (1 - (1529.999 + 2411.78) / 4035.412)
=0.010551 / 0.023203
=0.4547

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
=4832.728 / 5657.237
=0.8543

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))
=(150.473 / (150.473 + 2411.78)) / (156.489 / (156.489 + 2273.548))
=0.058727 / 0.064398
=0.9119

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)
=(2123.781 / 4832.728) / (2035.467 / 5657.237)
=0.439458 / 0.359799
=1.2214

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)
=((2207.314 + 912.176) / 3625.489) / ((2035.578 + 1022.922) / 4035.412)
=0.860433 / 0.757915
=1.1353

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
=(-463.63 - 203.119 - -264.379) / 3625.489
=-0.110984

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.

Big Lots has a M-score of -3.44 suggests that the company is unlikely to be a manipulator.


Big Lots Beneish M-Score Related Terms

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Big Lots (Big Lots) Business Description

Traded in Other Exchanges
Address
4900 East Dublin-Granville Road, Columbus, OH, USA, 43081
Big Lots Inc is principally engaged in operating discount retail stores. The company provides a broad range of merchandise, including food, consumables, soft home products, hard home products, furniture, electronics and accessories, and seasonal products. The company sources the merchandise from traditional and close-out channels. In addition to merchandise, the company sells gift cards, issues merchandise credits, and more. The company operates stores throughout the United States, with around one-third of its stores in California, Texas, Ohio, and Florida.
Executives
Christopher J Mccormick director 669 HALYARD LANE, LONGBOAT KEY FL 34228
Sebastian Digrande director 2 FOLSOM STREET, SAN FRANCISCO CA 94105
Michael Allen Schlonsky officer: Senior Vice President 300 PHILLIPI ROAD, COLUMBUS OH 43228
Robins Ronald A Jr officer: Senior Vice President 6301 FITCH PATH, NEW ALBANY OH 43054
Bruce K Thorn director, officer: CEO & President 15885 SPRAGUE RD, STRONGSVILLE OH 44136-1799
Margarita Giannantonio officer: Executive Vice President 4900 E DUBLIN GRANVILLE RD, COLUMBUS OH 43081
Nicholas E Padovano officer: Senior Vice President 4900 E DUBLIN GRANVILLE RD, COLUMBUS OH 43081
Gurmeet Singh officer: Executive Vice President 2 FOLSOM ST, SAN FRANCISCO CA 94105
Sandra Yvette Campos director 4900 E DUBLIN GRANVILLE RD, COLUMBUS OH 43081
Kimberley Alexis Newton director 4900 E DUBLIN GRANVILLE RD, COLUMBUS OH 43081
James R Chambers director C/O B&G FOODS, INC., 4 GATEHALL DRIVE, SUITE 110, PARSIPPANY NJ 07054
Cynthia T Jamison director TRACTOR SUPPLY COMPANY, 5401 VIRGINIA WAY, BRENTWOOD TN 37027
Gene Eddie Burt officer: Executive Vice President 19601 N 27TH AVE, PHOENIX AZ 85027
Wendy Lee Schoppert director 6105 TRENTON LANE NORTH, MINNEAPOLIS MN 55442
Jack Anthony Pestello officer: Executive Vice President 4900 E DUBLIN GRANVILLE RD, COLUMBUS OH 43081