Dream Finders Homes Beneish M-Score Historical Data
The historical data trend for Dream Finders Homes'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.
Dream Finders Homes Beneish M-Score Chart
|
Dream Finders Homes Annual Data
|
|
Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
- |
- |
-1.12 |
-1.67 |
-2.81 |
|
Dream Finders Homes Quarterly Data
|
|
Dec18 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
-1.67 |
-2.01 |
-2.41 |
-2.78 |
-2.81 |
Competitive Comparison of Dream Finders Homes's Beneish M-Score
For the Residential Construction subindustry, Dream Finders Homes'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.
Dream Finders Homes's Beneish M-Score Distribution in the Homebuilding & Construction Industry
For the Homebuilding & Construction industry and Consumer Cyclical sector, Dream Finders Homes's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Dream Finders Homes's Beneish M-Score falls into.
Dream Finders Homes 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 Dream Finders Homes 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 * 0.633 | + | 0.528 * 0.9441 | + | 0.404 * 1.0108 | + | 0.892 * 1.1215 | + | 0.115 * 0.8573 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0158 | + | 4.679 * -0.021378 | - | 0.327 * 0.8644 |
| = | -2.81 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $31 Mil.
Revenue was 1137.997 + 895.83 + 945.339 + 769.42 = $3,749 Mil.
Gross Profit was 235.669 + 186.544 + 182.484 + 132.076 = $737 Mil.
Total Current Assets was $2,020 Mil.
Total Assets was $2,562 Mil.
Property, Plant and Equipment(Net PPE) was $275 Mil.
Depreciation, Depletion and Amortization(DDA) was $18 Mil.
Selling, General, & Admin. Expense(SGA) was $309 Mil.
Total Current Liabilities was $1,044 Mil.
Long-Term Debt & Capital Lease Obligation was $315 Mil.
Net Income was 101.95 + 76.097 + 68.764 + 49.089 = $296 Mil.
Non Operating Income was -5.875 + -2.823 + -12.927 + -1.928 = $-24 Mil.
Cash Flow from Operations was 219.472 + 86.976 + 103.375 + -35.589 = $374 Mil.
|
Total Receivables was $43 Mil.
Revenue was 1099.466 + 785.669 + 793.134 + 664.066 = $3,342 Mil.
Gross Profit was 190.073 + 147.213 + 157.712 + 125.198 = $620 Mil.
Total Current Assets was $1,817 Mil.
Total Assets was $2,371 Mil.
Property, Plant and Equipment(Net PPE) was $309 Mil.
Depreciation, Depletion and Amortization(DDA) was $17 Mil.
Selling, General, & Admin. Expense(SGA) was $271 Mil.
Total Current Liabilities was $1,431 Mil.
Long-Term Debt & Capital Lease Obligation was $25 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) |
| = | (30.874 / 3748.586) | / | (43.49 / 3342.335) |
| = | 0.008236 | / | 0.013012 |
| | = | 0.633 |
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) |
| = | (620.196 / 3342.335) | / | (736.773 / 3748.586) |
| = | 0.185558 | / | 0.196547 |
| | = | 0.9441 |
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 - (2019.579 + 274.53) / 2562.439) | / | (1 - (1816.805 + 308.679) / 2371.137) |
| = | 0.104717 | / | 0.103601 |
| | = | 1.0108 |
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 |
| = | 3748.586 | / | 3342.335 |
| | = | 1.1215 |
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)) |
| = | (17.091 / (17.091 + 308.679)) | / | (17.896 / (17.896 + 274.53)) |
| = | 0.052463 | / | 0.061198 |
| | = | 0.8573 |
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) |
| = | (308.795 / 3748.586) | / | (271.04 / 3342.335) |
| = | 0.082376 | / | 0.081093 |
| | = | 1.0158 |
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) |
| = | ((315.032 + 1044.462) / 2562.439) | / | ((24.661 + 1430.655) / 2371.137) |
| = | 0.530547 | / | 0.613763 |
| | = | 0.8644 |
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 |
| = | (295.9 - -23.553 | - | 374.234) | / | 2562.439 |
| | = | -0.021378 |
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.
Dream Finders Homes has a M-score of -2.81 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
DFH has been successfully added to your