Lions Gate Entertainment Beneish M-Score Historical Data
The historical data trend for Lions Gate Entertainment'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.
Lions Gate Entertainment Beneish M-Score Chart
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Lions Gate Entertainment Annual Data
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Mar14 |
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Mar19 |
Mar20 |
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Mar22 |
Mar23 |
| Beneish M-Score |
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-2.97 |
-3.02 |
-2.52 |
-2.07 |
-2.33 |
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Lions Gate Entertainment Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
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Dec23 |
| Beneish M-Score |
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-2.09 |
-2.33 |
-2.38 |
-2.75 |
-2.39 |
Competitive Comparison of Lions Gate Entertainment's Beneish M-Score
For the Entertainment subindustry, Lions Gate Entertainment'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.
Lions Gate Entertainment's Beneish M-Score Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Lions Gate Entertainment's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Lions Gate Entertainment's Beneish M-Score falls into.
Lions Gate Entertainment 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 Lions Gate Entertainment 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 * 1.5478 | + | 0.528 * 0.7943 | + | 0.404 * 0.8935 | + | 0.892 * 1.0773 | + | 0.115 * 1.1188 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.131 | + | 4.679 * -0.062085 | - | 0.327 * 1.1073 |
| = | -2.39 |
* 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 $1,141 Mil.
Revenue was 975.1 + 1015.5 + 908.6 + 1085.7 = $3,985 Mil.
Gross Profit was 464.3 + 458.4 + 427.4 + 517.9 = $1,868 Mil.
Total Current Assets was $1,526 Mil.
Total Assets was $7,155 Mil.
Property, Plant and Equipment(Net PPE) was $460 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,753 Mil.
Selling, General, & Admin. Expense(SGA) was $1,456 Mil.
Total Current Liabilities was $3,172 Mil.
Long-Term Debt & Capital Lease Obligation was $2,793 Mil.
Net Income was -106.6 + -886.2 + -70.7 + -96.7 = $-1,160 Mil.
Non Operating Income was -113.6 + -899.5 + -26.8 + -91.2 = $-1,131 Mil.
Cash Flow from Operations was 71.1 + 301.1 + 29.2 + 13.7 = $415 Mil.
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Total Receivables was $684 Mil.
Revenue was 1000.1 + 875.2 + 893.9 + 929.9 = $3,699 Mil.
Gross Profit was 415.4 + 311.7 + 297.4 + 352.9 = $1,377 Mil.
Total Current Assets was $1,199 Mil.
Total Assets was $7,593 Mil.
Property, Plant and Equipment(Net PPE) was $255 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,988 Mil.
Selling, General, & Admin. Expense(SGA) was $1,195 Mil.
Total Current Liabilities was $2,579 Mil.
Long-Term Debt & Capital Lease Obligation was $3,138 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) |
| = | (1140.8 / 3984.9) | / | (684.2 / 3699.1) |
| = | 0.286281 | / | 0.184964 |
| | = | 1.5478 |
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) |
| = | (1377.4 / 3699.1) | / | (1868 / 3984.9) |
| = | 0.372361 | / | 0.46877 |
| | = | 0.7943 |
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 - (1525.6 + 460.2) / 7154.7) | / | (1 - (1198.5 + 255.3) / 7592.5) |
| = | 0.722448 | / | 0.808522 |
| | = | 0.8935 |
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 |
| = | 3984.9 | / | 3699.1 |
| | = | 1.0773 |
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)) |
| = | (1987.9 / (1987.9 + 255.3)) | / | (1753.3 / (1753.3 + 460.2)) |
| = | 0.886189 | / | 0.792094 |
| | = | 1.1188 |
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) |
| = | (1456.1 / 3984.9) | / | (1195.1 / 3699.1) |
| = | 0.365404 | / | 0.323079 |
| | = | 1.131 |
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) |
| = | ((2792.6 + 3171.8) / 7154.7) | / | ((3137.5 + 2578.6) / 7592.5) |
| = | 0.833634 | / | 0.752861 |
| | = | 1.1073 |
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 |
| = | (-1160.2 - -1131.1 | - | 415.1) | / | 7154.7 |
| | = | -0.062085 |
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.
Lions Gate Entertainment has a M-score of -2.39 suggests that the company is unlikely to be a manipulator.
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