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CorePoint Lodging Beneish M-Score

: -3.33 (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 -3.33 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

CPLG' s Beneish M-Score Range Over the Past 10 Years
Min: -3.54   Med: -3.06   Max: -2.81
Current: -3.33

During the past 6 years, the highest Beneish M-Score of CorePoint Lodging was -2.81. The lowest was -3.54. And the median was -3.06.


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.

* Premium members only.

CorePoint Lodging Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Beneish M-Score
Premium Member Only - - -2.86 -2.81 -3.00

CorePoint Lodging Quarterly Data
Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
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 -2.97 -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.
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.


CorePoint Lodging Beneish M-Score Related Terms

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CorePoint Lodging Business Description

CorePoint Lodging logo
Traded in Other Exchanges
N/A
Address
125 E. John Carpenter Freeway, Suite 1650, Irving, TX, USA, 75062
CorePoint Lodging Inc is a lodging real estate investment trust strategically focused on serving the midscale and upper-midscale select-service lodging segments. The company's portfolio includes over 209 hotels with around 27,800 rooms in locations in or near employment centers, airports, and major travel thoroughfares. The company primarily derives revenues from its hotel operations.
Executives
Alba Glenn director C/O THE BLACKSTONE GROUP 345 PARK AVE. NEW YORK NY 10154
Birch Jean director 3050 SOFT HORIZON WAY LAS VEGAS NV 89135
Isaac B Anthony director C/O EVERGY, INC. 1200 MAIN STREET KANSAS CITY MO 64105
Gould Alice E director C/O COREPOINT LODGING INC. 909 HIDDEN RIDGE, SUITE 600 IRVING TX 75038
Loeb David director C/O COREPOINT LODGING INC. 909 HIDDEN RIDGE, SUITE 600 IRVING TX 75038
Shah Mitesh B. director LA QUINTA HOLDINGS INC. 909 HIDDEN RIDGE, SUITE 600 IRVING TX 75038
Bowers Alan J director 7272 WISCONSIN AVENUE SUITE 1300 BETHESDA MD 20814
Abrahamson James R director C/O MARCUS CORP 100 EAST WISCONSIN AVE, SUITE 1900 MILWAUKEE WI 53202-4125
Swanstrom Daniel E Ii officer: EVP and CFO C/O MONOGRAM RESIDENTIAL TRUST, INC. 5800 GRANITE PARKWAY, SUITE 1000 PLANO TX 75024
Garfield Howard Steven officer: SVP, CAO & Treasurer 15601 DALLAS PARKWAY SUITE 600 ADDISON TX 75001
Chloupek Mark M. officer: See Remarks LA QUINTA HOLDINGS INC. 909 HIDDEN RIDGE, SUITE 600 IRVING TX 75038
Cline Keith A. director, officer: President & CEO LA QUINTA HOLDINGS INC. 909 HIDDEN RIDGE, SUITE 600 IRVING TX 75038
Cantele John W officer: EVP & COO C/O LA QUINTA HOLDINGS INC. 909 HIDDEN RIDGE, SUITE 600 IRVING TX 75038
Wih Hotels L.l.c. 10 percent owner C/O THE BLACKSTONE GROUP 345 PARK AVE. NEW YORK NY 10154
Blackstone Real Estate Partners Iv L.p. 10 percent owner C/O THE BLACKSTONE GROUP 345 PARK AVE. NEW YORK NY 10154

CorePoint Lodging Headlines

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