CorePoint Lodging Beneish M-Score Historical Data
The historical data trend for CorePoint Lodging'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.
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CorePoint Lodging Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
| Beneish M-Score |
|
|
- |
- |
-2.86 |
-2.81 |
-3.00 |
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CorePoint Lodging Quarterly Data
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Dec16 |
Mar17 |
Jun17 |
Sep17 |
Dec17 |
Mar18 |
Jun18 |
Sep18 |
Dec18 |
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
| Beneish M-Score |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.97 |
-3.00 |
-2.86 |
-3.54 |
-3.33 |
Competitive Comparison
For the REIT - Hotel & Motel subindustry, CorePoint Lodging'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.
CorePoint Lodging Beneish M-Score Distribution
For the REITs industry and Real Estate sector, CorePoint Lodging's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where CorePoint Lodging's Beneish M-Score falls into.
CorePoint Lodging 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 CorePoint Lodging 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 * 0.8747 | + | 0.528 * 0.6458 | + | 0.404 * 0.9442 | + | 0.892 * 0.9354 | + | 0.115 * 0.999 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0285 | + | 4.679 * -0.1126 | - | 0.327 * 0.8038 |
| = | -3.33 |
* 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 (Sep21) TTM: | Last Year (Sep20) TTM: |
Total Receivables was $18.0 Mil.
Revenue was 142 + 138 + 97 + 86 = $463.0 Mil.
Gross Profit was 54 + 49 + 17 + 6 = $126.0 Mil.
Total Current Assets was $246.0 Mil.
Total Assets was $1,528.0 Mil.
Property, Plant and Equipment(Net PPE) was $14.0 Mil.
Depreciation, Depletion and Amortization(DDA) was $146.0 Mil.
Selling, General, & Admin. Expense(SGA) was $76.0 Mil.
Total Current Liabilities was $600.0 Mil.
Long-Term Debt & Capital Lease Obligation was $18.0 Mil.
Net Income was 17 + 28 + -31 + -42 = $-28.0 Mil.
Non Operating Income was 26 + 44 + 12 + 10 = $92.0 Mil.
Cash Flow from Operations was 33 + 33 + 3 + -17 = $52.0 Mil.
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Total Receivables was $22.0 Mil.
Revenue was 107 + 72 + 146 + 170 = $495.0 Mil.
Gross Profit was 21 + 2 + 27 + 37 = $87.0 Mil.
Total Current Assets was $212.0 Mil.
Total Assets was $1,882.0 Mil.
Property, Plant and Equipment(Net PPE) was $16.0 Mil.
Depreciation, Depletion and Amortization(DDA) was $165.0 Mil.
Selling, General, & Admin. Expense(SGA) was $79.0 Mil.
Total Current Liabilities was $927.0 Mil.
Long-Term Debt & Capital Lease Obligation was $20.0 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) |
| = | (18 / 463) | / | (22 / 495) |
| = | 0.03887689 | / | 0.04444444 |
| | = | 0.8747 |
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) |
| = | (87 / 495) | / | (126 / 463) |
| = | 0.17575758 | / | 0.27213823 |
| | = | 0.6458 |
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 - (246 + 14) / 1528) | / | (1 - (212 + 16) / 1882) |
| = | 0.82984293 | / | 0.87885228 |
| | = | 0.9442 |
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 |
| = | 463 | / | 495 |
| | = | 0.9354 |
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)) |
| = | (165 / (165 + 16)) | / | (146 / (146 + 14)) |
| = | 0.91160221 | / | 0.9125 |
| | = | 0.999 |
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) |
| = | (76 / 463) | / | (79 / 495) |
| = | 0.16414687 | / | 0.15959596 |
| | = | 1.0285 |
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) |
| = | ((18 + 600) / 1528) | / | ((20 + 927) / 1882) |
| = | 0.40445026 | / | 0.5031881 |
| | = | 0.8038 |
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 |
| = | (-28 - 92 | - | 52) | / | 1528 |
| | = | -0.1126 |
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.
CorePoint Lodging has a M-score of -3.33 suggests that the company is unlikely to be a manipulator.
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