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The zones of discrimination for M-Score is as such:
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.
The historical rank and industry rank for Major League Football's Beneish M-Score or its related term are showing as below:
During the past 13 years, the highest Beneish M-Score of Major League Football was 0.00. The lowest was 0.00. And the median was 0.00.
The historical data trend for Major League Football'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.
For the Entertainment subindustry, Major League Football'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.
For the Media - Diversified industry and Communication Services sector, Major League Football's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Major League Football's Beneish M-Score falls into.
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 Major League Football 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 * | + | 0.528 * | + | 0.404 * | + | 0.892 * | + | 0.115 * | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * | + | 4.679 * | - | 0.327 * | |||||||
= |
* 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 (Jan23) TTM: | Last Year (Jan22) TTM: |
Total Receivables was $0.00 Mil. Revenue was 0 + 0.001 + 0.009 + 0 = $0.01 Mil. Gross Profit was 0 + 0.001 + 0.001 + 0 = $0.00 Mil. Total Current Assets was $0.01 Mil. Total Assets was $0.50 Mil. Property, Plant and Equipment(Net PPE) was $0.48 Mil. Depreciation, Depletion and Amortization(DDA) was $0.12 Mil. Selling, General, & Admin. Expense(SGA) was $4.81 Mil. Total Current Liabilities was $11.99 Mil. Long-Term Debt & Capital Lease Obligation was $0.00 Mil. Net Income was 0.373 + 1.555 + -3.722 + -0.444 = $-2.24 Mil. Non Operating Income was 1.184 + 2.523 + 0.08 + 0.193 = $3.98 Mil. Cash Flow from Operations was -0.043 + -0.045 + -1.951 + -0.462 = $-2.50 Mil. |
Total Receivables was $0.00 Mil. Revenue was 0 + 0 + 0 + 0 = $0.00 Mil. Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil. Total Current Assets was $0.07 Mil. Total Assets was $0.15 Mil. Property, Plant and Equipment(Net PPE) was $0.06 Mil. Depreciation, Depletion and Amortization(DDA) was $0.00 Mil. Selling, General, & Admin. Expense(SGA) was $0.73 Mil. Total Current Liabilities was $4.79 Mil. Long-Term Debt & Capital Lease Obligation was $0.00 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) |
= | (0 / 0.01) | / | (0 / 0) | |
= | 0 | / | ||
= |
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) | |
= | (0 / 0) | / | (0.002 / 0.01) | |
= | / | 0.2 | ||
= |
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 - (0.006 + 0.48) / 0.495) | / | (1 - (0.073 + 0.057) / 0.145) | |
= | 0.018182 | / | 0.103448 | |
= |
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 | |
= | 0.01 | / | 0 | |
= |
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)) |
= | (0 / (0 + 0.057)) | / | (0.115 / (0.115 + 0.48)) | |
= | 0 | / | 0.193277 | |
= |
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) |
= | (4.814 / 0.01) | / | (0.728 / 0) | |
= | 481.4 | / | ||
= |
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) |
= | ((0 + 11.989) / 0.495) | / | ((0 + 4.792) / 0.145) | |
= | 24.220202 | / | 33.048276 | |
= |
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 | |
= | (-2.238 - 3.98 | - | -2.501) | / | 0.495 | |
= | -7.509091 |
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.
Thank you for viewing the detailed overview of Major League Football's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Richard E. Nichols | officer: Chief Operating Officer | 22106 N LAS POSITAS DRIVE, SUN CITY WEST AZ 85375 |
Stephen Thomas Videtich | officer: VP Team Interface | 6317 W. CEDAR HILL RD., WEST JORDAN UT 84081 |
Paul Mccarthy Michael | officer: SVP Football Operations | 8349 COTTAGE ROAD P.O. BOX 65, BRANTINGHAM NY 13312 |
William George Lyons | officer: Chief Marketing Officer | 178 LAKESHORE DRIVE, MOORESVILLE NC 28117 |
Kevin Dean Mclenithan | officer: VP Sales, Marketing and IR | 12011 MOUNTBATTEN DR, TAMPA FL 33626 |
Gregory Francis Campbell | officer: Chief Financial Officer | 511 ISLAND WAY, CLEARWATER FL 33767 |
John Joseph Coyne | director, officer: Executive Vice President | 9822 NEW PARKE RD, TAMPA FL 33626 |
Britt Terrell Jennings | 10 percent owner | 917 FAIRWAY DRIVE, MONROE GA 30655 |
Francis J. Murtha | officer: Senior Executive Vice Pres | 7319 RIVIERA COVE #7, LAKEWOOD RANCH FL 34202 |
Sully Ivory Ulysses Iii | officer: VP - Licensing | 6609 LEAFWOOD DRIVE, ANAHEIM CA 92807 |
Chandler Wesley S. Ii | officer: President, Secretary | 328 HEMLEB COURT, PINOLE CA 94564 |
Thomas Joseph Marino | director, officer: Exec. Chmn. of the Board | 354 CADDO DRIVE, MADISONVILLE LA 70447 |
Richard Smith | officer: Chief Operating Officer | 15 BROOKSIDE AVE., WESTPORT MA 02790 |
Elliot Bellen | 10 percent owner | 11985 SOUTHERN BOULEVARD, SUITE 191, ROYAL PALM BEACH FL 33411 |
New Bastion Development, Inc. | 10 percent owner | 125 SOUTH STATE ROAD 7, SUITE 104-275, WELLINGTON FL 33414 |
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