Premier Beneish M-Score Historical Data
The historical data trend for Premier'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.
Premier Beneish M-Score Chart
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Premier Annual Data
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Trend |
Jun16 |
Jun17 |
Jun18 |
Jun19 |
Jun20 |
Jun21 |
Jun22 |
Jun23 |
Jun24 |
Jun25 |
| Beneish M-Score |
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-2.43 |
-3.04 |
-2.84 |
-2.65 |
-3.35 |
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Premier Quarterly Data
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Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
Mar25 |
Jun25 |
Sep25 |
| Beneish M-Score |
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-2.64 |
-3.30 |
-3.15 |
-3.35 |
-3.32 |
PINC vs TXG, HTFL, PRVA: Beneish M-Score Comparison
For the Health Information Services subindustry, Premier'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.
Premier Beneish M-Score vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Premier's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Premier's Beneish M-Score falls into.
Premier 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 Premier 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 * 1.0556 | + | 0.528 * 1.0348 | + | 0.404 * 1.0373 | + | 0.892 * 0.9008 | + | 0.115 * 1.0955 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1251 | + | 4.679 * -0.141694 | - | 0.327 * 1.4839 |
| = | -3.32 |
* 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 (Sep25) TTM: | Last Year (Sep24) TTM: |
Total Receivables was $418 Mil.
Revenue was 240.004 + 262.857 + 261.382 + 240.266 = $1,005 Mil.
Gross Profit was 170.597 + 198.564 + 193.169 + 171.208 = $734 Mil.
Total Current Assets was $532 Mil.
Total Assets was $3,051 Mil.
Property, Plant and Equipment(Net PPE) was $242 Mil.
Depreciation, Depletion and Amortization(DDA) was $119 Mil.
Selling, General, & Admin. Expense(SGA) was $701 Mil.
Total Current Liabilities was $855 Mil.
Long-Term Debt & Capital Lease Obligation was $42 Mil.
Net Income was 17.579 + 18.435 + 27.068 + -96.018 = $-33 Mil.
Non Operating Income was -2.278 + 6.542 + 12.716 + 32.806 = $50 Mil.
Cash Flow from Operations was 15.858 + 107.985 + 114.129 + 111.668 = $350 Mil.
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Total Receivables was $440 Mil.
Revenue was 248.142 + 300.246 + 286.866 + 279.871 = $1,115 Mil.
Gross Profit was 180.418 + 231.819 + 216.53 + 213.881 = $843 Mil.
Total Current Assets was $708 Mil.
Total Assets was $3,314 Mil.
Property, Plant and Equipment(Net PPE) was $222 Mil.
Depreciation, Depletion and Amortization(DDA) was $125 Mil.
Selling, General, & Admin. Expense(SGA) was $692 Mil.
Total Current Liabilities was $649 Mil.
Long-Term Debt & Capital Lease Obligation was $8 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) |
| = | (418.159 / 1004.509) | / | (439.765 / 1115.125) |
| = | 0.416282 | / | 0.394364 |
| | = | 1.0556 |
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) |
| = | (842.648 / 1115.125) | / | (733.538 / 1004.509) |
| = | 0.755653 | / | 0.730245 |
| | = | 1.0348 |
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 - (532.012 + 242.018) / 3051.371) | / | (1 - (707.636 + 221.802) / 3313.598) |
| = | 0.746334 | / | 0.719508 |
| | = | 1.0373 |
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 |
| = | 1004.509 | / | 1115.125 |
| | = | 0.9008 |
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)) |
| = | (125.161 / (125.161 + 221.802)) | / | (118.82 / (118.82 + 242.018)) |
| = | 0.360733 | / | 0.329289 |
| | = | 1.0955 |
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) |
| = | (701.391 / 1004.509) | / | (692.079 / 1115.125) |
| = | 0.698243 | / | 0.620629 |
| | = | 1.1251 |
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) |
| = | ((42.451 + 854.769) / 3051.371) | / | ((8.067 + 648.548) / 3313.598) |
| = | 0.294038 | / | 0.198158 |
| | = | 1.4839 |
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 |
| = | (-32.936 - 49.786 | - | 349.64) | / | 3051.371 |
| | = | -0.141694 |
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.
Premier has a M-score of -3.32 suggests that the company is unlikely to be a manipulator.
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