McKesson Beneish M-Score Historical Data
The historical data trend for McKesson'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.
|
McKesson Annual Data
|
|
Trend |
Mar13 |
Mar14 |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
| Beneish M-Score |
|
|
|
|
|
|
-2.46 |
-2.46 |
-2.37 |
- |
-2.77 |
|
McKesson Quarterly Data
|
|
Sep17 |
Dec17 |
Mar18 |
Jun18 |
Sep18 |
Dec18 |
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
| Beneish M-Score |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.90 |
-2.74 |
-2.88 |
-2.77 |
-2.78 |
Competitive Comparison
For the Medical Distribution subindustry, McKesson'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.
McKesson Beneish M-Score Distribution
For the Medical Distribution industry and Healthcare sector, McKesson's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where McKesson's Beneish M-Score falls into.
McKesson 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 McKesson 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 * 0.9 | + | 0.528 * 1.0412 | + | 0.404 * 0.8951 | + | 0.892 * 1.0947 | + | 0.115 * 1.0213 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0436 | + | 4.679 * -0.0545 | - | 0.327 * 1.0366 |
| = | -2.78 |
* 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 $19,900 Mil.
Revenue was 67154 + 66102 + 68614 + 66576 = $268,446 Mil.
Gross Profit was 3023 + 3318 + 3428 + 3352 = $13,121 Mil.
Total Current Assets was $45,383 Mil.
Total Assets was $62,295 Mil.
Property, Plant and Equipment(Net PPE) was $3,681 Mil.
Depreciation, Depletion and Amortization(DDA) was $690 Mil.
Selling, General, & Admin. Expense(SGA) was $10,264 Mil.
Total Current Liabilities was $47,201 Mil.
Long-Term Debt & Capital Lease Obligation was $6,340 Mil.
Net Income was 768 + 368 + -7 + 267 = $1,396 Mil.
Non Operating Income was -13 + -107 + -5 + -196 = $-321 Mil.
Cash Flow from Operations was -941 + 2887 + 1377 + 1792 = $5,115 Mil.
|
Total Receivables was $20,198 Mil.
Revenue was 62674 + 59142 + 62599 + 60808 = $245,223 Mil.
Gross Profit was 3032 + 3297 + 3151 + 3000 = $12,480 Mil.
Total Current Assets was $43,350 Mil.
Total Assets was $62,894 Mil.
Property, Plant and Equipment(Net PPE) was $4,620 Mil.
Depreciation, Depletion and Amortization(DDA) was $888 Mil.
Selling, General, & Admin. Expense(SGA) was $8,984 Mil.
Total Current Liabilities was $43,835 Mil.
Long-Term Debt & Capital Lease Obligation was $8,312 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) |
| = | (19900 / 268446) | / | (20198 / 245223) |
| = | 0.07413037 | / | 0.08236585 |
| | = | 0.9 |
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) |
| = | (12480 / 245223) | / | (13121 / 268446) |
| = | 0.05089245 | / | 0.04887761 |
| | = | 1.0412 |
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 - (45383 + 3681) / 62295) | / | (1 - (43350 + 4620) / 62894) |
| = | 0.21239265 | / | 0.23728814 |
| | = | 0.8951 |
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 |
| = | 268446 | / | 245223 |
| | = | 1.0947 |
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)) |
| = | (888 / (888 + 4620)) | / | (690 / (690 + 3681)) |
| = | 0.16122004 | / | 0.15785861 |
| | = | 1.0213 |
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) |
| = | (10264 / 268446) | / | (8984 / 245223) |
| = | 0.03823488 | / | 0.03663604 |
| | = | 1.0436 |
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) |
| = | ((6340 + 47201) / 62295) | / | ((8312 + 43835) / 62894) |
| = | 0.85947508 | / | 0.82912519 |
| | = | 1.0366 |
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 |
| = | (1396 - -321 | - | 5115) | / | 62295 |
| | = | -0.0545 |
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.
McKesson has a M-score of -2.78 suggests that the company is unlikely to be a manipulator.
My Portfolios
Create New Portfolio
Portfolio Contest
My Gurus
Personalize
Premium Gurus 
0.69(0.2%) Volume: 1,189,575 4:03PM EDT
Email Alerts
Stock PDF
RSS
Website
Filings
Download
Manual of Stocks™ Web APP
NYSE:MCK has been successfully added to your 
