Viaplay Group AB Beneish M-Score Historical Data
The historical data trend for Viaplay 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.
Viaplay Group AB Beneish M-Score Chart
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Viaplay Group AB Annual Data
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Trend |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.48 |
-2.37 |
-2.51 |
-0.96 |
-3.44 |
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Viaplay 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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-1.09 |
-2.33 |
-2.78 |
-3.44 |
-3.15 |
Competitive Comparison of Viaplay Group AB's Beneish M-Score
For the Entertainment subindustry, Viaplay 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.
Viaplay Group AB's Beneish M-Score Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Viaplay Group AB's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Viaplay Group AB's Beneish M-Score falls into.
Viaplay 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 Viaplay 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 * 0.8098 | + | 0.528 * 2.2041 | + | 0.404 * 1.2207 | + | 0.892 * 1.094 | + | 0.115 * 0.8901 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.7129 | + | 4.679 * -0.276058 | - | 0.327 * 0.9884 |
| = | -3.10 |
* 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 $831 Mil.
Revenue was 456.907 + 477.987 + 409.209 + 426.312 = $1,770 Mil.
Gross Profit was 28.527 + 29.442 + 17.772 + 36.772 = $113 Mil.
Total Current Assets was $1,257 Mil.
Total Assets was $1,669 Mil.
Property, Plant and Equipment(Net PPE) was $38 Mil.
Depreciation, Depletion and Amortization(DDA) was $26 Mil.
Selling, General, & Admin. Expense(SGA) was $236 Mil.
Total Current Liabilities was $783 Mil.
Long-Term Debt & Capital Lease Obligation was $207 Mil.
Net Income was 58.11 + -280.767 + -62.518 + -546.564 = $-832 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was -146.091 + -158.419 + -94.995 + 28.6 = $-371 Mil.
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Total Receivables was $938 Mil.
Revenue was 433.073 + 449.99 + 364.066 + 371.204 = $1,618 Mil.
Gross Profit was 38.945 + 45.095 + 48.579 + 94.072 = $227 Mil.
Total Current Assets was $1,666 Mil.
Total Assets was $2,098 Mil.
Property, Plant and Equipment(Net PPE) was $47 Mil.
Depreciation, Depletion and Amortization(DDA) was $27 Mil.
Selling, General, & Admin. Expense(SGA) was $302 Mil.
Total Current Liabilities was $913 Mil.
Long-Term Debt & Capital Lease Obligation was $345 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) |
| = | (831.02 / 1770.415) | / | (938.022 / 1618.333) |
| = | 0.469393 | / | 0.579622 |
| | = | 0.8098 |
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) |
| = | (226.691 / 1618.333) | / | (112.513 / 1770.415) |
| = | 0.140077 | / | 0.063552 |
| | = | 2.2041 |
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 - (1257.288 + 37.651) / 1669.34) | / | (1 - (1665.855 + 46.581) / 2097.878) |
| = | 0.224281 | / | 0.183729 |
| | = | 1.2207 |
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 |
| = | 1770.415 | / | 1618.333 |
| | = | 1.094 |
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)) |
| = | (26.72 / (26.72 + 46.581)) | / | (26.115 / (26.115 + 37.651)) |
| = | 0.364524 | / | 0.409544 |
| | = | 0.8901 |
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) |
| = | (235.538 / 1770.415) | / | (301.993 / 1618.333) |
| = | 0.133041 | / | 0.186607 |
| | = | 0.7129 |
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) |
| = | ((206.795 + 782.803) / 1669.34) | / | ((345.255 + 913.013) / 2097.878) |
| = | 0.592808 | / | 0.599781 |
| | = | 0.9884 |
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 |
| = | (-831.739 - 0 | - | -370.905) | / | 1669.34 |
| | = | -0.276058 |
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.
Viaplay Group AB has a M-score of -3.10 suggests that the company is unlikely to be a manipulator.
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