Playtika Holding Beneish M-Score Historical Data
The historical data trend for Playtika Holding'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.
Playtika Holding Beneish M-Score Chart
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Playtika Holding Annual Data
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Trend |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
-2.68 |
-2.79 |
-2.59 |
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Playtika Holding Quarterly Data
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Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
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-2.33 |
-2.59 |
-2.89 |
-2.78 |
-2.95 |
Competitive Comparison of Playtika Holding's Beneish M-Score
For the Electronic Gaming & Multimedia subindustry, Playtika Holding'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.
Playtika Holding's Beneish M-Score Distribution in the Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Playtika Holding's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Playtika Holding's Beneish M-Score falls into.
Playtika Holding 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 Playtika Holding 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 * 0.9571 | + | 0.528 * 0.9901 | + | 0.404 * 0.8884 | + | 0.892 * 0.9909 | + | 0.115 * 0.9543 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1107 | + | 4.679 * -0.079301 | - | 0.327 * 0.943 |
| = | -2.95 |
* 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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was $160 Mil.
Revenue was 620.8 + 627 + 651.2 + 637.9 = $2,537 Mil.
Gross Profit was 452.7 + 458.8 + 474.2 + 457.3 = $1,843 Mil.
Total Current Assets was $1,470 Mil.
Total Assets was $3,189 Mil.
Property, Plant and Equipment(Net PPE) was $201 Mil.
Depreciation, Depletion and Amortization(DDA) was $159 Mil.
Selling, General, & Admin. Expense(SGA) was $942 Mil.
Total Current Liabilities was $452 Mil.
Long-Term Debt & Capital Lease Obligation was $2,470 Mil.
Net Income was 39.3 + 86.6 + 53 + 37.3 = $216 Mil.
Non Operating Income was -42.3 + 4.8 + -4.2 + -5.5 = $-47 Mil.
Cash Flow from Operations was 156.9 + 150.5 + 29.6 + 179.3 = $516 Mil.
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Total Receivables was $168 Mil.
Revenue was 630.1 + 642.8 + 656.2 + 631.2 = $2,560 Mil.
Gross Profit was 456.2 + 464.5 + 470.5 + 450.3 = $1,842 Mil.
Total Current Assets was $1,168 Mil.
Total Assets was $2,978 Mil.
Property, Plant and Equipment(Net PPE) was $214 Mil.
Depreciation, Depletion and Amortization(DDA) was $156 Mil.
Selling, General, & Admin. Expense(SGA) was $856 Mil.
Total Current Liabilities was $401 Mil.
Long-Term Debt & Capital Lease Obligation was $2,492 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) |
| = | (159.6 / 2536.9) | / | (168.3 / 2560.3) |
| = | 0.062911 | / | 0.065734 |
| | = | 0.9571 |
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) |
| = | (1841.5 / 2560.3) | / | (1843 / 2536.9) |
| = | 0.719252 | / | 0.726477 |
| | = | 0.9901 |
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 - (1470.1 + 200.8) / 3189.1) | / | (1 - (1167.9 + 214.2) / 2977.6) |
| = | 0.476059 | / | 0.535834 |
| | = | 0.8884 |
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 |
| = | 2536.9 | / | 2560.3 |
| | = | 0.9909 |
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)) |
| = | (156.3 / (156.3 + 214.2)) | / | (159.1 / (159.1 + 200.8)) |
| = | 0.421862 | / | 0.442067 |
| | = | 0.9543 |
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) |
| = | (942.2 / 2536.9) | / | (856.1 / 2560.3) |
| = | 0.371398 | / | 0.334375 |
| | = | 1.1107 |
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) |
| = | ((2469.5 + 452.1) / 3189.1) | / | ((2492 + 400.6) / 2977.6) |
| = | 0.916121 | / | 0.971454 |
| | = | 0.943 |
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 |
| = | (216.2 - -47.2 | - | 516.3) | / | 3189.1 |
| | = | -0.079301 |
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.
Playtika Holding has a M-score of -2.95 suggests that the company is unlikely to be a manipulator.
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