Marks & Spencer Group Beneish M-Score Historical Data
The historical data trend for Marks & Spencer 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.
|
Marks & Spencer Group Annual Data
|
|
Trend |
Mar14 |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
|
|
|
|
|
|
-3.08 |
-2.72 |
-3.51 |
-3.06 |
-2.68 |
|
Marks & Spencer Group Semi-Annual Data
|
|
Mar14 |
Sep14 |
Mar15 |
Sep15 |
Mar16 |
Sep16 |
Mar17 |
Sep17 |
Mar18 |
Sep18 |
Mar19 |
Sep19 |
Mar20 |
Sep20 |
Mar21 |
Sep21 |
Mar22 |
Sep22 |
Mar23 |
Sep23 |
| Beneish M-Score |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- |
-3.06 |
- |
-2.68 |
- |
Competitive Comparison
For the Department Stores subindustry, Marks & Spencer 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.
Marks & Spencer Group Beneish M-Score Distribution
For the Retail - Cyclical industry and Consumer Cyclical sector, Marks & Spencer Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Marks & Spencer Group's Beneish M-Score falls into.
Marks & Spencer 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 Marks & Spencer 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 * 1.1948 | + | 0.528 * 0.993 | + | 0.404 * 0.7653 | + | 0.892 * 1.0096 | + | 0.115 * 1.0327 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0808 | + | 4.679 * -0.07326 | - | 0.327 * 1.0307 |
| = | -2.75 |
* 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 (Mar23) TTM: | Last Year (Mar22) TTM: |
Total Receivables was $222 Mil.
Revenue was $14,480 Mil.
Gross Profit was $5,030 Mil.
Total Current Assets was $2,615 Mil.
Total Assets was $11,041 Mil.
Property, Plant and Equipment(Net PPE) was $6,315 Mil.
Depreciation, Depletion and Amortization(DDA) was $635 Mil.
Selling, General, & Admin. Expense(SGA) was $1,108 Mil.
Total Current Liabilities was $3,284 Mil.
Long-Term Debt & Capital Lease Obligation was $3,864 Mil.
Net Income was $441 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $1,250 Mil.
|
Total Receivables was $184 Mil.
Revenue was $14,341 Mil.
Gross Profit was $4,947 Mil.
Total Current Assets was $2,875 Mil.
Total Assets was $12,442 Mil.
Property, Plant and Equipment(Net PPE) was $6,459 Mil.
Depreciation, Depletion and Amortization(DDA) was $673 Mil.
Selling, General, & Admin. Expense(SGA) was $1,015 Mil.
Total Current Liabilities was $3,124 Mil.
Long-Term Debt & Capital Lease Obligation was $4,692 Mil.
|
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) |
| = | (221.723 / 14479.733) | / | (183.794 / 14341.37) |
| = | 0.015313 | / | 0.012816 |
| | = | 1.1948 |
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) |
| = | (4947.036 / 14341.37) | / | (5029.854 / 14479.733) |
| = | 0.344949 | / | 0.347372 |
| | = | 0.993 |
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 - (2615.291 + 6315.17) / 11041.019) | / | (1 - (2875.231 + 6458.893) / 12441.897) |
| = | 0.191156 | / | 0.249783 |
| | = | 0.7653 |
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 |
| = | 14479.733 | / | 14341.37 |
| | = | 1.0096 |
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)) |
| = | (672.859 / (672.859 + 6458.893)) | / | (634.951 / (634.951 + 6315.17)) |
| = | 0.094347 | / | 0.091358 |
| | = | 1.0327 |
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) |
| = | (1107.888 / 14479.733) | / | (1015.283 / 14341.37) |
| = | 0.076513 | / | 0.070794 |
| | = | 1.0808 |
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) |
| = | ((3864.078 + 3284.466) / 11041.019) | / | ((4691.7 + 3123.584) / 12441.897) |
| = | 0.647453 | / | 0.628142 |
| | = | 1.0307 |
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 |
| = | (441.019 - 0 | - | 1249.879) | / | 11041.019 |
| | = | -0.07326 |
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.
Marks & Spencer Group has a M-score of -2.75 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
MAKSY has been successfully added to your