Option Care Health Beneish M-Score Historical Data
The historical data trend for Option Care Health'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.
Option Care Health Beneish M-Score Chart
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Option Care Health Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.64 |
-2.51 |
-2.57 |
-2.78 |
-2.52 |
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Option Care Health 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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-2.78 |
-2.14 |
-2.35 |
-2.53 |
-2.52 |
Competitive Comparison of Option Care Health's Beneish M-Score
For the Medical Care Facilities subindustry, Option Care Health'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.
Option Care Health's Beneish M-Score Distribution in the Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Option Care Health's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Option Care Health's Beneish M-Score falls into.
Option Care Health 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 Option Care Health 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 * 0.9339 | + | 0.528 * 1.1253 | + | 0.404 * 0.9241 | + | 0.892 * 1.1617 | + | 0.115 * 1.0177 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8931 | + | 4.679 * -0.035761 | - | 0.327 * 1.0519 |
| = | -2.52 |
* 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 $410 Mil.
Revenue was 1346.418 + 1278.546 + 1227.186 + 1146.052 = $4,998 Mil.
Gross Profit was 268.379 + 256.749 + 249.365 + 238.5 = $1,013 Mil.
Total Current Assets was $1,323 Mil.
Total Assets was $3,422 Mil.
Property, Plant and Equipment(Net PPE) was $214 Mil.
Depreciation, Depletion and Amortization(DDA) was $63 Mil.
Selling, General, & Admin. Expense(SGA) was $630 Mil.
Total Current Liabilities was $780 Mil.
Long-Term Debt & Capital Lease Obligation was $1,189 Mil.
Net Income was 60.133 + 53.856 + 53.043 + 44.791 = $212 Mil.
Non Operating Income was 4.891 + 0.808 + 3.969 + 1.127 = $11 Mil.
Cash Flow from Operations was 36.122 + 160.399 + 195.655 + -68.784 = $323 Mil.
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Total Receivables was $378 Mil.
Revenue was 1124.39 + 1093.014 + 1069.072 + 1015.848 = $4,302 Mil.
Gross Profit was 247.123 + 254.266 + 250.829 + 229.005 = $981 Mil.
Total Current Assets was $1,094 Mil.
Total Assets was $3,217 Mil.
Property, Plant and Equipment(Net PPE) was $205 Mil.
Depreciation, Depletion and Amortization(DDA) was $62 Mil.
Selling, General, & Admin. Expense(SGA) was $607 Mil.
Total Current Liabilities was $618 Mil.
Long-Term Debt & Capital Lease Obligation was $1,142 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) |
| = | (409.733 / 4998.202) | / | (377.658 / 4302.324) |
| = | 0.081976 | / | 0.08778 |
| | = | 0.9339 |
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) |
| = | (981.223 / 4302.324) | / | (1012.993 / 4998.202) |
| = | 0.228068 | / | 0.202671 |
| | = | 1.1253 |
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 - (1322.627 + 213.895) / 3421.743) | / | (1 - (1094.255 + 204.789) / 3217.035) |
| = | 0.550953 | / | 0.596198 |
| | = | 0.9241 |
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 |
| = | 4998.202 | / | 4302.324 |
| | = | 1.1617 |
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)) |
| = | (62.2 / (62.2 + 204.789)) | / | (63.498 / (63.498 + 213.895)) |
| = | 0.232968 | / | 0.22891 |
| | = | 1.0177 |
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) |
| = | (630.251 / 4998.202) | / | (607.427 / 4302.324) |
| = | 0.126096 | / | 0.141186 |
| | = | 0.8931 |
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) |
| = | ((1189.417 + 780.146) / 3421.743) | / | ((1142.134 + 618.309) / 3217.035) |
| = | 0.575602 | / | 0.547225 |
| | = | 1.0519 |
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 |
| = | (211.823 - 10.795 | - | 323.392) | / | 3421.743 |
| | = | -0.035761 |
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.
Option Care Health has a M-score of -2.52 suggests that the company is unlikely to be a manipulator.
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