Equity Lifestyle Properties Beneish M-Score Historical Data
The historical data trend for Equity Lifestyle Properties'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.
Equity Lifestyle Properties Beneish M-Score Chart
|
Equity Lifestyle Properties Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.66 |
-2.71 |
-2.59 |
-2.56 |
-2.66 |
|
Equity Lifestyle Properties Quarterly Data
|
|
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.58 |
-2.58 |
-2.64 |
-2.66 |
- |
Competitive Comparison of Equity Lifestyle Properties's Beneish M-Score
For the REIT - Residential subindustry, Equity Lifestyle Properties'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.
Equity Lifestyle Properties's Beneish M-Score Distribution in the REITs Industry
For the REITs industry and Real Estate sector, Equity Lifestyle Properties's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Equity Lifestyle Properties's Beneish M-Score falls into.
Equity Lifestyle Properties 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 Equity Lifestyle Properties 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 * 1.078 | + | 0.528 * 0.9773 | + | 0.404 * 0.9981 | + | 0.892 * 1.0213 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0253 | + | 4.679 * -0.053528 | - | 0.327 * 1.0129 |
| = | -2.66 |
* 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 $50 Mil.
Revenue was 289.017 + 384.204 + 365.282 + 365.773 = $1,404 Mil.
Gross Profit was 113.377 + 177.819 + 168.439 + 185.445 = $645 Mil.
Total Current Assets was $80 Mil.
Total Assets was $5,614 Mil.
Property, Plant and Equipment(Net PPE) was $0 Mil.
Depreciation, Depletion and Amortization(DDA) was $209 Mil.
Selling, General, & Admin. Expense(SGA) was $68 Mil.
Total Current Liabilities was $628 Mil.
Long-Term Debt & Capital Lease Obligation was $3,488 Mil.
Net Income was 91.939 + 76.969 + 62.928 + 82.371 = $314 Mil.
Non Operating Income was 67.632 + -0.022 + 1.092 + -2.009 = $67 Mil.
Cash Flow from Operations was 129.347 + 151.832 + 107.846 + 158.98 = $548 Mil.
|
Total Receivables was $45 Mil.
Revenue was 280.743 + 376.705 + 360.966 + 356.526 = $1,375 Mil.
Gross Profit was 109.891 + 169.483 + 159.823 + 178.041 = $617 Mil.
Total Current Assets was $68 Mil.
Total Assets was $5,493 Mil.
Property, Plant and Equipment(Net PPE) was $0 Mil.
Depreciation, Depletion and Amortization(DDA) was $207 Mil.
Selling, General, & Admin. Expense(SGA) was $65 Mil.
Total Current Liabilities was $785 Mil.
Long-Term Debt & Capital Lease Obligation was $3,190 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) |
| = | (49.937 / 1404.276) | / | (45.356 / 1374.94) |
| = | 0.035561 | / | 0.032988 |
| | = | 1.078 |
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) |
| = | (617.238 / 1374.94) | / | (645.08 / 1404.276) |
| = | 0.44892 | / | 0.459368 |
| | = | 0.9773 |
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 - (79.874 + 0) / 5613.733) | / | (1 - (67.703 + 0) / 5492.519) |
| = | 0.985772 | / | 0.987674 |
| | = | 0.9981 |
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 |
| = | 1404.276 | / | 1374.94 |
| | = | 1.0213 |
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)) |
| = | (207.05 / (207.05 + 0)) | / | (209.101 / (209.101 + 0)) |
| = | 1 | / | 1 |
| | = | 1 |
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) |
| = | (68.254 / 1404.276) | / | (65.177 / 1374.94) |
| = | 0.048604 | / | 0.047404 |
| | = | 1.0253 |
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) |
| = | ((3487.607 + 627.505) / 5613.733) | / | ((3189.984 + 785.05) / 5492.519) |
| = | 0.733044 | / | 0.723718 |
| | = | 1.0129 |
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 |
| = | (314.207 - 66.693 | - | 548.005) | / | 5613.733 |
| | = | -0.053528 |
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.
Equity Lifestyle Properties has a M-score of -2.66 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
ELS has been successfully added to your