Dometic Group AB Beneish M-Score Historical Data
The historical data trend for Dometic Group AB'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.
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Dometic Group AB Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.83 |
-2.60 |
-2.19 |
-2.23 |
-2.94 |
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Dometic Group AB Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-2.54 |
-2.75 |
-2.94 |
-2.94 |
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Competitive Comparison
For the Leisure subindustry, Dometic Group AB'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.
Dometic Group AB Beneish M-Score Distribution
For the Travel & Leisure industry and Consumer Cyclical sector, Dometic Group AB's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Dometic Group AB's Beneish M-Score falls into.
Dometic Group AB 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 Dometic Group AB 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 * 1.0213 | + | 0.528 * 0.9264 | + | 0.404 * 1.0394 | + | 0.892 * 0.8955 | + | 0.115 * 1.1451 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1184 | + | 4.679 * -0.058885 | - | 0.327 * 0.92 |
| = | -2.83 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was $412 Mil.
Revenue was 626.915 + 519.322 + 616.159 + 773.417 = $2,536 Mil.
Gross Profit was 174.618 + 139.994 + 187.915 + 216.731 = $719 Mil.
Total Current Assets was $1,494 Mil.
Total Assets was $5,442 Mil.
Property, Plant and Equipment(Net PPE) was $442 Mil.
Depreciation, Depletion and Amortization(DDA) was $145 Mil.
Selling, General, & Admin. Expense(SGA) was $349 Mil.
Total Current Liabilities was $675 Mil.
Long-Term Debt & Capital Lease Obligation was $1,707 Mil.
Net Income was 26.222 + 4.972 + 37.168 + 49.586 = $118 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 10.469 + 36.071 + 186.472 + 205.402 = $438 Mil.
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Total Receivables was $450 Mil.
Revenue was 695.761 + 594.816 + 694.402 + 846.845 = $2,832 Mil.
Gross Profit was 184.034 + 139.719 + 188.724 + 231.592 = $744 Mil.
Total Current Assets was $1,743 Mil.
Total Assets was $5,547 Mil.
Property, Plant and Equipment(Net PPE) was $365 Mil.
Depreciation, Depletion and Amortization(DDA) was $144 Mil.
Selling, General, & Admin. Expense(SGA) was $349 Mil.
Total Current Liabilities was $1,073 Mil.
Long-Term Debt & Capital Lease Obligation was $1,566 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) |
| = | (411.764 / 2535.813) | / | (450.254 / 2831.824) |
| = | 0.162379 | / | 0.158998 |
| | = | 1.0213 |
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) |
| = | (744.069 / 2831.824) | / | (719.258 / 2535.813) |
| = | 0.262753 | / | 0.28364 |
| | = | 0.9264 |
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 - (1493.666 + 441.636) / 5442.26) | / | (1 - (1742.982 + 365.11) / 5546.71) |
| = | 0.644394 | / | 0.619938 |
| | = | 1.0394 |
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 |
| = | 2535.813 | / | 2831.824 |
| | = | 0.8955 |
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)) |
| = | (144.352 / (144.352 + 365.11)) | / | (145.214 / (145.214 + 441.636)) |
| = | 0.283342 | / | 0.247447 |
| | = | 1.1451 |
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) |
| = | (349.058 / 2535.813) | / | (348.543 / 2831.824) |
| = | 0.137651 | / | 0.123081 |
| | = | 1.1184 |
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) |
| = | ((1707.087 + 675.228) / 5442.26) | / | ((1566.393 + 1072.802) / 5546.71) |
| = | 0.437744 | / | 0.475813 |
| | = | 0.92 |
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 |
| = | (117.948 - 0 | - | 438.414) | / | 5442.26 |
| | = | -0.058885 |
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.
Dometic Group AB has a M-score of -2.83 suggests that the company is unlikely to be a manipulator.
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