Market Cap : 37.7 B | Enterprise Value : 46.02 B | PE Ratio : 39.84 | PB Ratio : |
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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 -2.03 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Hilton Worldwide Holdings's Beneish M-Score or its related term are showing as below:
During the past 12 years, the highest Beneish M-Score of Hilton Worldwide Holdings was -1.04. The lowest was -3.14. And the median was -2.47.
The historical data trend for Hilton Worldwide 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.
For the Lodging subindustry, Hilton Worldwide 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.
For the Travel & Leisure industry and Consumer Cyclical sector, Hilton Worldwide Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Hilton Worldwide Holdings's Beneish M-Score falls into.
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 Hilton Worldwide 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 * 0.7224 | + | 0.528 * 0.6963 | + | 0.404 * 0.9832 | + | 0.892 * 1.8743 | + | 0.115 * 1.134 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 0.5628 | + | 4.679 * 0.0005 | - | 0.327 * 0.9968 | |||||||
= | -2.03 |
* 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 (Jun22) TTM: | Last Year (Jun21) TTM: |
Total Receivables was $1,289 Mil. Revenue was 2240 + 1721 + 1836 + 1749 = $7,546 Mil. Gross Profit was 752 + 515 + 494 + 605 = $2,366 Mil. Total Current Assets was $2,840 Mil. Total Assets was $15,382 Mil. Property, Plant and Equipment(Net PPE) was $881 Mil. Depreciation, Depletion and Amortization(DDA) was $175 Mil. Selling, General, & Admin. Expense(SGA) was $404 Mil. Total Current Liabilities was $3,195 Mil. Long-Term Debt & Capital Lease Obligation was $9,455 Mil. Net Income was 368 + 212 + 147 + 241 = $968 Mil. Non Operating Income was 14 + 12 + 0 + -2 = $24 Mil. Cash Flow from Operations was 333 + 195 + 131 + 278 = $937 Mil. |
Total Receivables was $952 Mil. Revenue was 1329 + 874 + 890 + 933 = $4,026 Mil. Gross Profit was 377 + 179 + 126 + 197 = $879 Mil. Total Current Assets was $2,379 Mil. Total Assets was $15,090 Mil. Property, Plant and Equipment(Net PPE) was $1,076 Mil. Depreciation, Depletion and Amortization(DDA) was $249 Mil. Selling, General, & Admin. Expense(SGA) was $383 Mil. Total Current Liabilities was $2,779 Mil. Long-Term Debt & Capital Lease Obligation was $9,671 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) |
= | (1289 / 7546) | / | (952 / 4026) | |
= | 0.17081898 | / | 0.23646299 | |
= | 0.7224 |
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) | |
= | (879 / 4026) | / | (2366 / 7546) | |
= | 0.21833085 | / | 0.3135436 | |
= | 0.6963 |
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 - (2840 + 881) / 15382) | / | (1 - (2379 + 1076) / 15090) | |
= | 0.75809388 | / | 0.77104042 | |
= | 0.9832 |
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 | |
= | 7546 | / | 4026 | |
= | 1.8743 |
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)) |
= | (249 / (249 + 1076)) | / | (175 / (175 + 881)) | |
= | 0.18792453 | / | 0.1657197 | |
= | 1.134 |
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) |
= | (404 / 7546) | / | (383 / 4026) | |
= | 0.0535383 | / | 0.09513164 | |
= | 0.5628 |
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) |
= | ((9455 + 3195) / 15382) | / | ((9671 + 2779) / 15090) | |
= | 0.82238981 | / | 0.8250497 | |
= | 0.9968 |
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 | |
= | (968 - 24 | - | 937) | / | 15382 | |
= | 0.0005 |
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.
Hilton Worldwide Holdings has a M-score of -2.03 suggests that the company is unlikely to be a manipulator.
Thank you for viewing the detailed overview of Hilton Worldwide Holdings's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Fuentes Laura | officer: See Remarks | 7930 JONES BRANCH DRIVE MCLEAN VA 22102 |
Carr Chris | director | 7930 JONES BRANCH DRIVE MCLEAN VA 22102 |
Rinck Martin | officer: See Remarks | 7930 JONES BRANCH DRIVE MCLEAN VA 22102 |
Zhang Ling | director | C/O HILTON WORLDWIDE HOLDINGS INC. 7930 JONES BRANCH DRIVE MCLEAN VA 22102 |
Mabus Raymond E | director | C/O DANA INCORPORATED 3939 TECHNOLOGY DRIVE MAUMEE OH 43537 |
Healey Melanie | director | VERIZON COMMUNICATIONS INC. 1095 AVENUE OF THE AMERICAS NEW YORK NY 10036 |
Witter Jonathan W. | officer: See Remarks | 1680 CAPITAL ONE DRIVE MCLEAN VA 22102 |
Begley Charlene T | director | |
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Hna Hlt Holdco Ii Llc | 10 percent owner | THE CORPORATION TRUST COMPANY 1209 ORANGE STREET WILMINGTON DE 19801 |
Hna Group Co., Ltd. | 10 percent owner | HNA BUILDING NO. 7 GUOXING ROAD HAIKOU, HAINAN F4 570203 |
Hna Hlt Holdco Iii Ltd | 10 percent owner | THE CENTER 99 QUEEN?S ROAD CENTRAL CENTRAL K3 999077 |
Hna Hlt Holdco I Llc | 10 percent owner | THE CORPORATION TRUST COMPANY 1209 ORANGE STREET WILMINGTON DE 19801 |
Blackstone Real Estate Holdings International Ii-q L.p. | 10 percent owner | C/O THE BLACKSTONE GROUP L.P. 345 PARK AVENUE NEW YORK NY 10154 |
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