United Parks & Resorts Beneish M-Score Historical Data
The historical data trend for United Parks & Resorts'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.
United Parks & Resorts Beneish M-Score Chart
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United Parks & Resorts Annual Data
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Dec15 |
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Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-3.38 |
-0.77 |
-3.08 |
-2.93 |
-2.85 |
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United Parks & Resorts Quarterly Data
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Jun20 |
Sep20 |
Dec20 |
Mar21 |
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Mar22 |
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Mar24 |
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Mar25 |
| Beneish M-Score |
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-2.89 |
-2.72 |
-2.80 |
-2.85 |
-2.84 |
Competitive Comparison of United Parks & Resorts's Beneish M-Score
For the Leisure subindustry, United Parks & Resorts'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.
United Parks & Resorts's Beneish M-Score Distribution in the Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, United Parks & Resorts's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where United Parks & Resorts's Beneish M-Score falls into.
United Parks & Resorts 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 United Parks & Resorts 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 * 1.0101 | + | 0.528 * 1.0006 | + | 0.404 * 1.1103 | + | 0.892 * 0.9908 | + | 0.115 * 0.9458 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9742 | + | 4.679 * -0.080815 | - | 0.327 * 1.0682 |
| = | -2.84 |
* 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 (Mar25) TTM: | Last Year (Mar24) TTM: |
Total Receivables was $80 Mil.
Revenue was 286.949 + 384.384 + 545.901 + 497.593 = $1,715 Mil.
Gross Profit was 263.99 + 355.298 + 505.272 + 458.948 = $1,584 Mil.
Total Current Assets was $256 Mil.
Total Assets was $2,571 Mil.
Property, Plant and Equipment(Net PPE) was $2,027 Mil.
Depreciation, Depletion and Amortization(DDA) was $166 Mil.
Selling, General, & Admin. Expense(SGA) was $213 Mil.
Total Current Liabilities was $435 Mil.
Long-Term Debt & Capital Lease Obligation was $2,340 Mil.
Net Income was -16.133 + 27.897 + 119.677 + 91.124 = $223 Mil.
Non Operating Income was 0.023 + -1.464 + -0.042 + -2.601 = $-4 Mil.
Cash Flow from Operations was 25.715 + 112.468 + 122.998 + 173.227 = $434 Mil.
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Total Receivables was $80 Mil.
Revenue was 297.423 + 388.965 + 548.247 + 496.029 = $1,731 Mil.
Gross Profit was 274.376 + 359.13 + 507.816 + 457.819 = $1,599 Mil.
Total Current Assets was $377 Mil.
Total Assets was $2,669 Mil.
Property, Plant and Equipment(Net PPE) was $2,024 Mil.
Depreciation, Depletion and Amortization(DDA) was $156 Mil.
Selling, General, & Admin. Expense(SGA) was $221 Mil.
Total Current Liabilities was $490 Mil.
Long-Term Debt & Capital Lease Obligation was $2,207 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) |
| = | (80.496 / 1714.827) | / | (80.429 / 1730.664) |
| = | 0.046941 | / | 0.046473 |
| | = | 1.0101 |
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) |
| = | (1599.141 / 1730.664) | / | (1583.508 / 1714.827) |
| = | 0.924004 | / | 0.923421 |
| | = | 1.0006 |
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 - (256.337 + 2027.141) / 2570.802) | / | (1 - (376.891 + 2023.592) / 2669.155) |
| = | 0.111764 | / | 0.100658 |
| | = | 1.1103 |
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 |
| = | 1714.827 | / | 1730.664 |
| | = | 0.9908 |
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)) |
| = | (155.996 / (155.996 + 2023.592)) | / | (165.951 / (165.951 + 2027.141)) |
| = | 0.071571 | / | 0.07567 |
| | = | 0.9458 |
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) |
| = | (213.158 / 1714.827) | / | (220.833 / 1730.664) |
| = | 0.124303 | / | 0.1276 |
| | = | 0.9742 |
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) |
| = | ((2340.013 + 434.795) / 2570.802) | / | ((2207.162 + 489.89) / 2669.155) |
| = | 1.079355 | / | 1.010452 |
| | = | 1.0682 |
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 |
| = | (222.565 - -4.084 | - | 434.408) | / | 2570.802 |
| | = | -0.080815 |
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.
United Parks & Resorts has a M-score of -2.84 suggests that the company is unlikely to be a manipulator.
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