Diamondrock Hospitality Co Beneish M-Score Historical Data
The historical data trend for Diamondrock Hospitality Co'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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Diamondrock Hospitality Co Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.90 |
-3.69 |
-3.12 |
-0.82 |
-2.80 |
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Diamondrock Hospitality Co Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
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-0.82 |
-2.57 |
-2.45 |
-2.45 |
-2.80 |
Competitive Comparison
For the REIT - Hotel & Motel subindustry, Diamondrock Hospitality Co'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.
Diamondrock Hospitality Co Beneish M-Score Distribution
For the REITs industry and Real Estate sector, Diamondrock Hospitality Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Diamondrock Hospitality Co's Beneish M-Score falls into.
Diamondrock Hospitality Co 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 Diamondrock Hospitality Co 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 * 0.7629 | + | 0.528 * 1.0382 | + | 0.404 * 0.9619 | + | 0.892 * 1.0733 | + | 0.115 * 0.9805 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.7497 | + | 4.679 * -0.046607 | - | 0.327 * 0.9771 |
| = | -2.80 |
* 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 $145 Mil.
Revenue was 263.547 + 276.52 + 291.247 + 243.553 = $1,075 Mil.
Gross Profit was 140.59 + 152.292 + 166.404 + 131.095 = $590 Mil.
Total Current Assets was $312 Mil.
Total Assets was $3,239 Mil.
Property, Plant and Equipment(Net PPE) was $2,853 Mil.
Depreciation, Depletion and Amortization(DDA) was $111 Mil.
Selling, General, & Admin. Expense(SGA) was $22 Mil.
Total Current Liabilities was $300 Mil.
Long-Term Debt & Capital Lease Obligation was $1,290 Mil.
Net Income was 10.947 + 27.272 + 38.965 + 9.156 = $86 Mil.
Non Operating Income was 2.033 + 0.537 + -0.85 + -2 = $-0 Mil.
Cash Flow from Operations was 52.878 + 70.262 + 56.355 + 58.069 = $238 Mil.
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Total Receivables was $177 Mil.
Revenue was 255.055 + 268.208 + 281.407 + 196.833 = $1,002 Mil.
Gross Profit was 145.993 + 153.338 + 168.002 + 103.79 = $571 Mil.
Total Current Assets was $284 Mil.
Total Assets was $3,208 Mil.
Property, Plant and Equipment(Net PPE) was $2,848 Mil.
Depreciation, Depletion and Amortization(DDA) was $109 Mil.
Selling, General, & Admin. Expense(SGA) was $27 Mil.
Total Current Liabilities was $315 Mil.
Long-Term Debt & Capital Lease Obligation was $1,297 Mil.
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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) |
| = | (144.689 / 1074.867) | / | (176.708 / 1001.503) |
| = | 0.134611 | / | 0.176443 |
| | = | 0.7629 |
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) |
| = | (571.123 / 1001.503) | / | (590.381 / 1074.867) |
| = | 0.570266 | / | 0.54926 |
| | = | 1.0382 |
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 - (311.86 + 2852.887) / 3238.687) | / | (1 - (283.886 + 2847.523) / 3207.54) |
| = | 0.02283 | / | 0.023735 |
| | = | 0.9619 |
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 |
| = | 1074.867 | / | 1001.503 |
| | = | 1.0733 |
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)) |
| = | (108.849 / (108.849 + 2847.523)) | / | (111.302 / (111.302 + 2852.887)) |
| = | 0.036818 | / | 0.037549 |
| | = | 0.9805 |
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) |
| = | (22.075 / 1074.867) | / | (27.433 / 1001.503) |
| = | 0.020537 | / | 0.027392 |
| | = | 0.7497 |
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) |
| = | ((1289.871 + 299.833) / 3238.687) | / | ((1296.668 + 314.694) / 3207.54) |
| = | 0.490848 | / | 0.502367 |
| | = | 0.9771 |
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 |
| = | (86.34 - -0.28 | - | 237.564) | / | 3238.687 |
| | = | -0.046607 |
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.
Diamondrock Hospitality Co has a M-score of -2.80 suggests that the company is unlikely to be a manipulator.
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