>
Switch to:

Capri Holdings Beneish M-Score

: -2.04 (As of Today)
View and export this data going back to 2011. Start your Free Trial

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 -2.04 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

NYSE:CPRI' s Beneish M-Score Range Over the Past 10 Years
Min: -3.34   Med: -2.33   Max: -1.69
Current: -2.04

-3.34
-1.69

During the past 12 years, the highest Beneish M-Score of Capri Holdings was -1.69. The lowest was -3.34. And the median was -2.33.


Capri Holdings Beneish M-Score Historical Data

The historical data trend for Capri Holdings'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.

Capri Holdings Annual Data
Trend Mar12 Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21
Beneish M-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -1.72 -2.67 -2.29 -2.72 -2.66

Capri Holdings Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
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 -3.19 -2.91 -2.67 -2.66 -2.04

Competitive Comparison

For the Apparel Manufacturing subindustry, Capri Holdings'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.

   

Capri Holdings Beneish M-Score Distribution

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Capri Holdings's Beneish M-Score distribution charts can be found below:

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



Capri Holdings 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 Capri Holdings 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 * 1.4892+0.528 * 0.9077+0.404 * 1.0175+0.892 * 1.0442+0.115 * 1.0348
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9125+4.679 * -0.0135-0.327 * 0.8765
=-2.04

* 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 (Jun21) TTM:Last Year (Jun20) TTM:
Accounts Receivable was $409 Mil.
Revenue was 1253 + 1197 + 1302 + 1110 = $4,862 Mil.
Gross Profit was 856 + 737 + 848 + 710 = $3,151 Mil.
Total Current Assets was $1,707 Mil.
Total Assets was $7,624 Mil.
Property, Plant and Equipment(Net PPE) was $1,940 Mil.
Depreciation, Depletion and Amortization(DDA) was $208 Mil.
Selling, General, & Admin. Expense(SGA) was $2,161 Mil.
Total Current Liabilities was $1,562 Mil.
Long-Term Debt & Capital Lease Obligation was $2,800 Mil.
Net Income was 219 + -183 + 179 + 122 = $337 Mil.
Non Operating Income was -4 + -213 + -75 + -29 = $-321 Mil.
Cash Flow from Operations was 204 + 79 + 408 + 70 = $761 Mil.
Accounts Receivable was $263 Mil.
Revenue was 451 + 1192 + 1571 + 1442 = $4,656 Mil.
Gross Profit was 302 + 631 + 932 + 874 = $2,739 Mil.
Total Current Assets was $1,489 Mil.
Total Assets was $7,533 Mil.
Property, Plant and Equipment(Net PPE) was $2,182 Mil.
Depreciation, Depletion and Amortization(DDA) was $243 Mil.
Selling, General, & Admin. Expense(SGA) was $2,268 Mil.
Total Current Liabilities was $1,589 Mil.
Long-Term Debt & Capital Lease Obligation was $3,328 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Accounts Receivable 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)
=(409 / 4862) / (263 / 4656)
=0.08412176 / 0.05648625
=1.4892

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)
=(2739 / 4656) / (3151 / 4862)
=0.5882732 / 0.64808721
=0.9077

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 - (1707 + 1940) / 7624) / (1 - (1489 + 2182) / 7533)
=0.52164218 / 0.51267755
=1.0175

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
=4862 / 4656
=1.0442

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))
=(243 / (243 + 2182)) / (208 / (208 + 1940))
=0.10020619 / 0.09683426
=1.0348

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)
=(2161 / 4862) / (2268 / 4656)
=0.4444673 / 0.4871134
=0.9125

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)
=((2800 + 1562) / 7624) / ((3328 + 1589) / 7533)
=0.57214061 / 0.652728
=0.8765

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
=(337 - -321 - 761) / 7624
=-0.0135

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.

Capri Holdings has a M-score of -2.04 suggests that the company is unlikely to be a manipulator.


Capri Holdings Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Capri Holdings's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Capri Holdings Business Description

Capri Holdings logo
Traded in Other Exchanges
Address
33 Kingsway, London, GBR, WC2B 6UF
Michael Kors, Versace, and Jimmy Choo are the brands that comprise Capri Holdings. Capri markets, distributes, and retails upscale accessories and apparel. Michael Kors, Capri's largest and original brand, offers handbags, footwear, and apparel through more than 800 company-owned stores, third-party retailers, and e-commerce. Milan-based Versace (acquired in 2018) is known for its ready-to-wear luxury fashion. Jimmy Choo (acquired in 2017) is best known for women's luxury footwear. John Idol has served as CEO since he was part of a group that acquired Michael Kors in 2003.
Executives
Purefoy Daniel officer: SVP, Global Ops 33 KINGSWAY LONDON X0 WC2B 6UF
Korologos Ann Mclaughlin director PO BOX 3599 BATTLECREEK MI 49016-3599
Benedetto M William director 11 WEST 42ND STREET 21ST FLOOR NEW YORK NY 10036
Reitman Stephen F director 11 WEST 42ND STREET 21ST FLOOR NEW YORK NY 10036
Gibbons Judy director C/O MICHAEL KORS (USA), INC. 11 WEST 42ND STREET NEW YORK NY 10036
Tomlin Jean director C/O MICHAEL KORS (USA), INC. 11 WEST 42ND STREET NEW YORK NY 10036
Thompson Jane A. director C/O MICHAEL KORS (USA), INC. 11 WEST 42ND STREET NEW YORK NY 10036
Freestone Robin Anthony David director 33 KINGSWAY LONDON X0 WC2B 6UF
Edwards Thomas Jr. officer: EVP, CFO & COO 6820 LBJ FREEWAY DALLAS TX 75240
Idol John D director, officer: Chairman & CEO 650 MADISON AVE NEW YORK NY 10022
Mcdonough Krista A officer: SVP, GC & Chf Sustain Off 33 KINGSWAY LONDON X0 WC2B 6UF
Robinson Cathy Marie officer: SVP, Chf Ops & Trans Off C/O MICHAEL KORS (USA), INC. 11 WEST 42ND STREET NEW YORK NY 10036
Meyran Pascale officer: SVP, Chief HR Officer 11 WEST 42ND STREET NEW YORK NY 10036
Kors Michael David director, officer: Hon Chair & Chief Creative Off C/O MICHAEL KORS (USA), INC. 11 WEST 42ND STREET, ATTN. LEE SPORN NEW YORK NY 10036
Parsons Joseph B. officer: EVP, CFO, COO & Treasurer C/O MICHAEL KORS (USA), INC. 11 WEST 42ND STREET NEW YORK NY 10036

Capri Holdings Headlines

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)