WideOpenWest Beneish M-Score Historical Data
The historical data trend for WideOpenWest'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.
WideOpenWest Beneish M-Score Chart
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WideOpenWest Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.93 |
-3.15 |
-0.78 |
-2.61 |
-3.21 |
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WideOpenWest Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
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-2.61 |
-2.75 |
-3.03 |
-2.97 |
-3.21 |
Competitive Comparison of WideOpenWest's Beneish M-Score
For the Telecom Services subindustry, WideOpenWest'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.
WideOpenWest's Beneish M-Score Distribution in the Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, WideOpenWest's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where WideOpenWest's Beneish M-Score falls into.
WideOpenWest 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 WideOpenWest 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 * 0.9516 | + | 0.528 * 0.9545 | + | 0.404 * 0.7341 | + | 0.892 * 0.9742 | + | 0.115 * 1.0532 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.2437 | + | 4.679 * -0.078101 | - | 0.327 * 1.3879 |
| = | -3.21 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $48.3 Mil.
Revenue was 168.8 + 173.1 + 172.6 + 172.2 = $686.7 Mil.
Gross Profit was 97.1 + 97.5 + 97 + 94.1 = $385.7 Mil.
Total Current Assets was $110.2 Mil.
Total Assets was $1,514.7 Mil.
Property, Plant and Equipment(Net PPE) was $850.5 Mil.
Depreciation, Depletion and Amortization(DDA) was $193.1 Mil.
Selling, General, & Admin. Expense(SGA) was $200.4 Mil.
Total Current Liabilities was $169.6 Mil.
Long-Term Debt & Capital Lease Obligation was $933.7 Mil.
Net Income was -43.5 + -104.5 + -101.7 + -38 = $-287.7 Mil.
Non Operating Income was -46.6 + -131.8 + -127.3 + 1.2 = $-304.5 Mil.
Cash Flow from Operations was 44.7 + 49.2 + 8.6 + 32.6 = $135.1 Mil.
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Total Receivables was $52.1 Mil.
Revenue was 180.5 + 173.7 + 176.1 + 174.6 = $704.9 Mil.
Gross Profit was 102.9 + 94.6 + 93.1 + 87.3 = $377.9 Mil.
Total Current Assets was $120.9 Mil.
Total Assets was $1,717.4 Mil.
Property, Plant and Equipment(Net PPE) was $740.8 Mil.
Depreciation, Depletion and Amortization(DDA) was $179.3 Mil.
Selling, General, & Admin. Expense(SGA) was $165.4 Mil.
Total Current Liabilities was $164.7 Mil.
Long-Term Debt & Capital Lease Obligation was $736.6 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) |
| = | (48.3 / 686.7) | / | (52.1 / 704.9) |
| = | 0.070336 | / | 0.073911 |
| | = | 0.9516 |
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) |
| = | (377.9 / 704.9) | / | (385.7 / 686.7) |
| = | 0.536104 | / | 0.561672 |
| | = | 0.9545 |
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 - (110.2 + 850.5) / 1514.7) | / | (1 - (120.9 + 740.8) / 1717.4) |
| = | 0.365749 | / | 0.498253 |
| | = | 0.7341 |
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 |
| = | 686.7 | / | 704.9 |
| | = | 0.9742 |
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)) |
| = | (179.3 / (179.3 + 740.8)) | / | (193.1 / (193.1 + 850.5)) |
| = | 0.19487 | / | 0.185033 |
| | = | 1.0532 |
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) |
| = | (200.4 / 686.7) | / | (165.4 / 704.9) |
| = | 0.29183 | / | 0.234643 |
| | = | 1.2437 |
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) |
| = | ((933.7 + 169.6) / 1514.7) | / | ((736.6 + 164.7) / 1717.4) |
| = | 0.728395 | / | 0.524805 |
| | = | 1.3879 |
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 |
| = | (-287.7 - -304.5 | - | 135.1) | / | 1514.7 |
| | = | -0.078101 |
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.
WideOpenWest has a M-score of -3.21 suggests that the company is unlikely to be a manipulator.
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