Onity Group Beneish M-Score Historical Data
The historical data trend for Onity Group'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.
Onity Group Beneish M-Score Chart
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Onity Group Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.41 |
-1.86 |
-2.34 |
-2.40 |
-1.89 |
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Onity Group Quarterly Data
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Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-2.40 |
-2.32 |
-2.54 |
-2.43 |
-1.89 |
Competitive Comparison of Onity Group's Beneish M-Score
For the Mortgage Finance subindustry, Onity Group'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.
Onity Group's Beneish M-Score Distribution in the Banks Industry
For the Banks industry and Financial Services sector, Onity Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Onity Group's Beneish M-Score falls into.
Onity Group 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 Onity Group 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 * 1.5308 | + | 0.528 * 1.1021 | + | 0.404 * 0.83 | + | 0.892 * 0.934 | + | 0.115 * 1.1165 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.374 | + | 4.679 * 0.049667 | - | 0.327 * 1.0246 |
| = | -1.89 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was $12,592 Mil.
Revenue was 253.6 + 290.2 + 268.9 + 256.6 = $1,069 Mil.
Gross Profit was 102.6 + 145.4 + 126.9 + 120.6 = $496 Mil.
Total Current Assets was $13,473 Mil.
Total Assets was $16,435 Mil.
Property, Plant and Equipment(Net PPE) was $11 Mil.
Depreciation, Depletion and Amortization(DDA) was $8 Mil.
Selling, General, & Admin. Expense(SGA) was $137 Mil.
Total Current Liabilities was $252 Mil.
Long-Term Debt & Capital Lease Obligation was $14,684 Mil.
Net Income was -28.1 + 21.4 + 10.5 + 30.1 = $34 Mil.
Non Operating Income was -77 + -44.5 + -45.7 + -41.4 = $-209 Mil.
Cash Flow from Operations was -218 + 19.2 + -77.9 + -297.1 = $-574 Mil.
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Total Receivables was $8,808 Mil.
Revenue was 295.1 + 281.5 + 292.4 + 275.9 = $1,145 Mil.
Gross Profit was 160 + 136 + 148.8 + 139.9 = $585 Mil.
Total Current Assets was $9,794 Mil.
Total Assets was $12,514 Mil.
Property, Plant and Equipment(Net PPE) was $13 Mil.
Depreciation, Depletion and Amortization(DDA) was $12 Mil.
Selling, General, & Admin. Expense(SGA) was $107 Mil.
Total Current Liabilities was $220 Mil.
Long-Term Debt & Capital Lease Obligation was $10,879 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) |
| = | (12592 / 1069.3) | / | (8807.6 / 1144.9) |
| = | 11.775928 | / | 7.692899 |
| | = | 1.5308 |
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) |
| = | (584.7 / 1144.9) | / | (495.5 / 1069.3) |
| = | 0.5107 | / | 0.463387 |
| | = | 1.1021 |
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 - (13473.3 + 11) / 16435.4) | / | (1 - (9793.6 + 13.1) / 12513.7) |
| = | 0.179558 | / | 0.216323 |
| | = | 0.83 |
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 |
| = | 1069.3 | / | 1144.9 |
| | = | 0.934 |
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)) |
| = | (12.1 / (12.1 + 13.1)) | / | (8.3 / (8.3 + 11)) |
| = | 0.480159 | / | 0.430052 |
| | = | 1.1165 |
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) |
| = | (136.8 / 1069.3) | / | (106.6 / 1144.9) |
| = | 0.127934 | / | 0.093109 |
| | = | 1.374 |
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) |
| = | ((14683.9 + 252.4) / 16435.4) | / | ((10879.3 + 219.9) / 12513.7) |
| = | 0.908788 | / | 0.886964 |
| | = | 1.0246 |
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 |
| = | (33.9 - -208.6 | - | -573.8) | / | 16435.4 |
| | = | 0.049667 |
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.
Onity Group has a M-score of -1.89 suggests that the company is unlikely to be a manipulator.
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