PVH Beneish M-Score Historical Data
The historical data trend for PVH'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.
PVH Beneish M-Score Chart
|
PVH Annual Data
|
|
Trend |
Jan16 |
Jan17 |
Jan18 |
Jan19 |
Jan20 |
Jan21 |
Jan22 |
Jan23 |
Jan24 |
Jan25 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.98 |
-2.44 |
-2.09 |
-2.78 |
-2.49 |
|
PVH Quarterly Data
|
|
Jul20 |
Oct20 |
Jan21 |
Apr21 |
Jul21 |
Oct21 |
Jan22 |
Apr22 |
Jul22 |
Oct22 |
Jan23 |
Apr23 |
Jul23 |
Oct23 |
Jan24 |
Apr24 |
Jul24 |
Oct24 |
Jan25 |
Apr25 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.76 |
-2.66 |
-2.70 |
-2.49 |
-2.42 |
Competitive Comparison of PVH's Beneish M-Score
For the Apparel Manufacturing subindustry, PVH'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.
PVH's Beneish M-Score Distribution in the Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, PVH's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where PVH's Beneish M-Score falls into.
PVH 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 PVH 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 * 1.0846 | + | 0.528 * 1.0026 | + | 0.404 * 0.9901 | + | 0.892 * 0.9637 | + | 0.115 * 1.0113 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0197 | + | 4.679 * 0.011122 | - | 0.327 * 1.0927 |
| = | -2.42 |
* 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 (Apr25) TTM: | Last Year (Apr24) TTM: |
Total Receivables was $873 Mil.
Revenue was 1983.6 + 2371.6 + 2255.1 + 2074.3 = $8,685 Mil.
Gross Profit was 1161.7 + 1381.3 + 1316.6 + 1245.9 = $5,106 Mil.
Total Current Assets was $3,034 Mil.
Total Assets was $10,672 Mil.
Property, Plant and Equipment(Net PPE) was $1,963 Mil.
Depreciation, Depletion and Amortization(DDA) was $278 Mil.
Selling, General, & Admin. Expense(SGA) was $4,418 Mil.
Total Current Liabilities was $2,731 Mil.
Long-Term Debt & Capital Lease Obligation was $2,808 Mil.
Net Income was -44.8 + 157.2 + 131.9 + 158 = $402 Mil.
Non Operating Income was -470 + -14.4 + 20.5 + 11.3 = $-453 Mil.
Cash Flow from Operations was -71.4 + 486.5 + 28.7 + 292.4 = $736 Mil.
|
Total Receivables was $835 Mil.
Revenue was 1951.9 + 2489.9 + 2362.9 + 2207 = $9,012 Mil.
Gross Profit was 1198.7 + 1501.2 + 1339.4 + 1272.3 = $5,312 Mil.
Total Current Assets was $2,912 Mil.
Total Assets was $10,789 Mil.
Property, Plant and Equipment(Net PPE) was $2,082 Mil.
Depreciation, Depletion and Amortization(DDA) was $298 Mil.
Selling, General, & Admin. Expense(SGA) was $4,496 Mil.
Total Current Liabilities was $1,877 Mil.
Long-Term Debt & Capital Lease Obligation was $3,247 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) |
| = | (872.8 / 8684.6) | / | (835 / 9011.7) |
| = | 0.1005 | / | 0.092657 |
| | = | 1.0846 |
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) |
| = | (5311.6 / 9011.7) | / | (5105.5 / 8684.6) |
| = | 0.589412 | / | 0.58788 |
| | = | 1.0026 |
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 - (3033.6 + 1963.2) / 10672.4) | / | (1 - (2911.9 + 2081.9) / 10788.7) |
| = | 0.531802 | / | 0.537127 |
| | = | 0.9901 |
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 |
| = | 8684.6 | / | 9011.7 |
| | = | 0.9637 |
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)) |
| = | (298.4 / (298.4 + 2081.9)) | / | (277.8 / (277.8 + 1963.2)) |
| = | 0.125362 | / | 0.123963 |
| | = | 1.0113 |
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) |
| = | (4417.9 / 8684.6) | / | (4495.9 / 9011.7) |
| = | 0.508705 | / | 0.498896 |
| | = | 1.0197 |
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) |
| = | ((2808.3 + 2730.5) / 10672.4) | / | ((3246.9 + 1877.4) / 10788.7) |
| = | 0.518984 | / | 0.474969 |
| | = | 1.0927 |
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 |
| = | (402.3 - -452.6 | - | 736.2) | / | 10672.4 |
| | = | 0.011122 |
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.
PVH has a M-score of -2.42 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
PVH has been successfully added to your