Tribune Media Co Beneish M-Score Historical Data
The historical data trend for Tribune Media Co'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.
Tribune Media Co Beneish M-Score Chart
|
Tribune Media Co Annual Data
|
|
Trend |
Dec04 |
Dec05 |
Dec06 |
Dec07 |
Dec13 |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.86 |
-2.47 |
-2.85 |
-2.43 |
-2.77 |
|
Tribune Media Co Quarterly Data
|
|
Sep14 |
Dec14 |
Mar15 |
Jun15 |
Sep15 |
Dec15 |
Mar16 |
Jun16 |
Sep16 |
Dec16 |
Mar17 |
Jun17 |
Sep17 |
Dec17 |
Mar18 |
Jun18 |
Sep18 |
Dec18 |
Mar19 |
Jun19 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.51 |
-2.56 |
-2.77 |
-2.71 |
-2.69 |
Competitive Comparison of Tribune Media Co's Beneish M-Score
For the Broadcasting subindustry, Tribune Media Co'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.
Tribune Media Co's Beneish M-Score Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Tribune Media Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Tribune Media Co's Beneish M-Score falls into.
Tribune Media Co 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 Tribune Media Co 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 * 0.9619 | + | 0.528 * 0.9492 | + | 0.404 * 0.9178 | + | 0.892 * 1.0765 | + | 0.115 * 1.3094 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0368 | + | 4.679 * -0.043238 | - | 0.327 * 1.024 |
| = | -2.69 |
* 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 (Jun19) TTM: | Last Year (Jun18) TTM: |
Total Receivables was $439 Mil.
Revenue was 484.036 + 454.988 + 578.733 + 498.008 = $2,016 Mil.
Gross Profit was 251.866 + 235.938 + 363.846 + 235.047 = $1,087 Mil.
Total Current Assets was $1,878 Mil.
Total Assets was $8,463 Mil.
Property, Plant and Equipment(Net PPE) was $558 Mil.
Depreciation, Depletion and Amortization(DDA) was $208 Mil.
Selling, General, & Admin. Expense(SGA) was $550 Mil.
Total Current Liabilities was $486 Mil.
Long-Term Debt & Capital Lease Obligation was $3,122 Mil.
Net Income was 63.657 + 113.208 + 132.841 + 54.099 = $364 Mil.
Non Operating Income was 45.731 + 129.016 + 69.343 + 27.098 = $271 Mil.
Cash Flow from Operations was 52.752 + 157.511 + 162.356 + 85.908 = $459 Mil.
|
Total Receivables was $424 Mil.
Revenue was 489.358 + 443.635 + 488.999 + 450.533 = $1,873 Mil.
Gross Profit was 278.906 + 241.506 + 284.775 + 152.996 = $958 Mil.
Total Current Assets was $1,402 Mil.
Total Assets was $8,059 Mil.
Property, Plant and Equipment(Net PPE) was $404 Mil.
Depreciation, Depletion and Amortization(DDA) was $223 Mil.
Selling, General, & Admin. Expense(SGA) was $493 Mil.
Total Current Liabilities was $433 Mil.
Long-Term Debt & Capital Lease Obligation was $2,923 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) |
| = | (438.916 / 2015.765) | / | (423.868 / 1872.525) |
| = | 0.217742 | / | 0.226362 |
| | = | 0.9619 |
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) |
| = | (958.183 / 1872.525) | / | (1086.697 / 2015.765) |
| = | 0.511706 | / | 0.539099 |
| | = | 0.9492 |
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 - (1878.103 + 557.889) / 8462.78) | / | (1 - (1402.254 + 403.639) / 8059.318) |
| = | 0.712152 | / | 0.775925 |
| | = | 0.9178 |
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 |
| = | 2015.765 | / | 1872.525 |
| | = | 1.0765 |
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)) |
| = | (223.036 / (223.036 + 403.639)) | / | (208.236 / (208.236 + 557.889)) |
| = | 0.355904 | / | 0.271804 |
| | = | 1.3094 |
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) |
| = | (549.702 / 2015.765) | / | (492.523 / 1872.525) |
| = | 0.272701 | / | 0.263026 |
| | = | 1.0368 |
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) |
| = | ((3121.9 + 485.716) / 8462.78) | / | ((2922.6 + 432.653) / 8059.318) |
| = | 0.426292 | / | 0.41632 |
| | = | 1.024 |
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 |
| = | (363.805 - 271.188 | - | 458.527) | / | 8462.78 |
| | = | -0.043238 |
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.
Tribune Media Co has a M-score of -2.69 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
TRCO has been successfully added to your