Omega Healthcare Investors Beneish M-Score Historical Data
The historical data trend for Omega Healthcare Investors'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.
Omega Healthcare Investors Beneish M-Score Chart
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Omega Healthcare Investors Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.54 |
-2.79 |
-2.35 |
-2.82 |
-2.56 |
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Omega Healthcare Investors Quarterly Data
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Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
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-2.10 |
-2.56 |
-2.53 |
-2.48 |
-2.42 |
Competitive Comparison of Omega Healthcare Investors's Beneish M-Score
For the REIT - Healthcare Facilities subindustry, Omega Healthcare Investors'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.
Omega Healthcare Investors's Beneish M-Score Distribution in the REITs Industry
For the REITs industry and Real Estate sector, Omega Healthcare Investors's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Omega Healthcare Investors's Beneish M-Score falls into.
Omega Healthcare Investors 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 Omega Healthcare Investors 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 * 1.0249 | + | 0.528 * 0.9956 | + | 0.404 * 0.9847 | + | 0.892 * 1.1825 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8992 | + | 4.679 * -0.034899 | - | 0.327 * 0.9146 |
| = | -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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was $1,920 Mil.
Revenue was 276.028 + 252.745 + 243.299 + 239.319 = $1,011 Mil.
Gross Profit was 272.459 + 248.995 + 239.501 + 236.108 = $997 Mil.
Total Current Assets was $2,357 Mil.
Total Assets was $9,572 Mil.
Property, Plant and Equipment(Net PPE) was $0 Mil.
Depreciation, Depletion and Amortization(DDA) was $302 Mil.
Selling, General, & Admin. Expense(SGA) was $84 Mil.
Total Current Liabilities was $313 Mil.
Long-Term Debt & Capital Lease Obligation was $4,858 Mil.
Net Income was 111.762 + 113.862 + 67.361 + 55.001 = $348 Mil.
Non Operating Income was -16.476 + 6.099 + -5.293 + 12.263 = $-3 Mil.
Cash Flow from Operations was 184.885 + 184.103 + 151.474 + 164.98 = $685 Mil.
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Total Receivables was $1,584 Mil.
Revenue was 242.032 + 250.187 + 218.202 + 144.85 = $855 Mil.
Gross Profit was 238.14 + 246.262 + 214.205 + 140.845 = $839 Mil.
Total Current Assets was $2,210 Mil.
Total Assets was $9,425 Mil.
Property, Plant and Equipment(Net PPE) was $0 Mil.
Depreciation, Depletion and Amortization(DDA) was $328 Mil.
Selling, General, & Admin. Expense(SGA) was $79 Mil.
Total Current Liabilities was $296 Mil.
Long-Term Debt & Capital Lease Obligation was $5,272 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) |
| = | (1920.372 / 1011.391) | / | (1584.486 / 855.271) |
| = | 1.898743 | / | 1.852613 |
| | = | 1.0249 |
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) |
| = | (839.452 / 855.271) | / | (997.063 / 1011.391) |
| = | 0.981504 | / | 0.985833 |
| | = | 0.9956 |
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 - (2356.655 + 0) / 9571.871) | / | (1 - (2209.933 + 0) / 9425.313) |
| = | 0.753794 | / | 0.765532 |
| | = | 0.9847 |
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 |
| = | 1011.391 | / | 855.271 |
| | = | 1.1825 |
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)) |
| = | (327.747 / (327.747 + 0)) | / | (301.71 / (301.71 + 0)) |
| = | 1 | / | 1 |
| | = | 1 |
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) |
| = | (83.971 / 1011.391) | / | (78.966 / 855.271) |
| = | 0.083025 | / | 0.092329 |
| | = | 0.8992 |
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) |
| = | ((4858.202 + 313.37) / 9571.871) | / | ((5271.742 + 296.241) / 9425.313) |
| = | 0.540289 | / | 0.590748 |
| | = | 0.9146 |
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 |
| = | (347.986 - -3.407 | - | 685.442) | / | 9571.871 |
| | = | -0.034899 |
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.
Omega Healthcare Investors has a M-score of -2.42 suggests that the company is unlikely to be a manipulator.
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