John Wiley & Sons Beneish M-Score Historical Data
The historical data trend for John Wiley & Sons'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.
John Wiley & Sons Beneish M-Score Chart
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John Wiley & Sons Annual Data
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Apr25 |
| Beneish M-Score |
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-2.69 |
-2.70 |
-2.74 |
-2.72 |
-2.58 |
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John Wiley & Sons Quarterly Data
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Jul20 |
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| Beneish M-Score |
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-2.72 |
-2.23 |
-2.24 |
-2.64 |
-2.58 |
Competitive Comparison of John Wiley & Sons's Beneish M-Score
For the Publishing subindustry, John Wiley & Sons'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.
John Wiley & Sons's Beneish M-Score Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, John Wiley & Sons's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where John Wiley & Sons's Beneish M-Score falls into.
John Wiley & Sons 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 John Wiley & Sons 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 * 1.1374 | + | 0.528 * 0.9295 | + | 0.404 * 1.0194 | + | 0.892 * 0.8957 | + | 0.115 * 1.0294 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1 | + | 4.679 * -0.024851 | - | 0.327 * 0.9875 |
| = | -2.58 |
* 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 $228 Mil.
Revenue was 442.579 + 404.626 + 426.595 + 403.809 = $1,678 Mil.
Gross Profit was 331.638 + 300.407 + 319.595 + 294.589 = $1,246 Mil.
Total Current Assets was $440 Mil.
Total Assets was $2,691 Mil.
Property, Plant and Equipment(Net PPE) was $228 Mil.
Depreciation, Depletion and Amortization(DDA) was $148 Mil.
Selling, General, & Admin. Expense(SGA) was $230 Mil.
Total Current Liabilities was $821 Mil.
Long-Term Debt & Capital Lease Obligation was $871 Mil.
Net Income was 68.093 + -22.954 + 40.458 + -1.436 = $84 Mil.
Non Operating Income was -25.427 + -24.705 + -4.36 + 2.947 = $-52 Mil.
Cash Flow from Operations was 150.341 + 146.242 + -5.28 + -88.712 = $203 Mil.
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Total Receivables was $224 Mil.
Revenue was 468.461 + 460.705 + 492.808 + 451.013 = $1,873 Mil.
Gross Profit was 345.116 + 317.043 + 337.194 + 293.912 = $1,293 Mil.
Total Current Assets was $454 Mil.
Total Assets was $2,725 Mil.
Property, Plant and Equipment(Net PPE) was $262 Mil.
Depreciation, Depletion and Amortization(DDA) was $178 Mil.
Selling, General, & Admin. Expense(SGA) was $0 Mil.
Total Current Liabilities was $873 Mil.
Long-Term Debt & Capital Lease Obligation was $861 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) |
| = | (228.41 / 1677.609) | / | (224.198 / 1872.987) |
| = | 0.136152 | / | 0.119701 |
| | = | 1.1374 |
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) |
| = | (1293.265 / 1872.987) | / | (1246.229 / 1677.609) |
| = | 0.690483 | / | 0.74286 |
| | = | 0.9295 |
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 - (439.884 + 228.253) / 2691.466) | / | (1 - (454.042 + 261.512) / 2725.495) |
| = | 0.751757 | / | 0.737459 |
| | = | 1.0194 |
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 |
| = | 1677.609 | / | 1872.987 |
| | = | 0.8957 |
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)) |
| = | (178.199 / (178.199 + 261.512)) | / | (148.207 / (148.207 + 228.253)) |
| = | 0.405264 | / | 0.393686 |
| | = | 1.0294 |
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) |
| = | (229.767 / 1677.609) | / | (0 / 1872.987) |
| = | 0.136961 | / | 0 |
| | = | 1 |
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) |
| = | ((870.917 + 820.856) / 2691.466) | / | ((861.482 + 873.282) / 2725.495) |
| = | 0.628569 | / | 0.636495 |
| | = | 0.9875 |
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 |
| = | (84.161 - -51.545 | - | 202.591) | / | 2691.466 |
| | = | -0.024851 |
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.
John Wiley & Sons has a M-score of -2.58 suggests that the company is unlikely to be a manipulator.
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