SBSAQ (Spanish Broadcasting System) Beneish M-Score: 0.00 (As of Jul. 05, 2026)

What is Spanish Broadcasting System Beneish M-Score?

Spanish Broadcasting System SBSAQ -99.98% 44 Beneish M-Score is 0.00 as of Jul. 05, 2026. GuruFocus rates SBSAQ with a GF Score™ of 44/100.

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 Spanish Broadcasting System's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Spanish Broadcasting System was 0.00. The lowest was 0.00. And the median was 0.00.

Spanish Broadcasting System Beneish M-Score Related Terms

Spanish Broadcasting System Beneish M-Score Historical Data

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The historical data trend for Spanish Broadcasting System'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.

Spanish Broadcasting System Beneish M-Score Chart

Spanish Broadcasting System Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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-2.44

-2.31

-1.87

-2.30

-2.78

Spanish Broadcasting System Quarterly Data
	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25
Beneish M-Score	Get a 7-Day Free Trial															-2.34	-2.38	-2.56	-2.78	-2.75

SBSAQ vs CMLS, TAAG, MDEX: Beneish M-Score Comparison

For the Broadcasting subindustry, Spanish Broadcasting System'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.

Spanish Broadcasting System Beneish M-Score vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Spanish Broadcasting System's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Spanish Broadcasting System's Beneish M-Score falls into.

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44GF Score

Spanish Broadcasting System Inc SBSAQ

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Spanish Broadcasting System 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 Spanish Broadcasting System for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.9028

0.528 * 0.8054

0.404 * 1.0813

0.892 * 0.977

0.115 * 0.8389

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.013421

0.327 * 1.0182

-2.75

This Year (Mar25) TTM:

Last Year (Mar24) TTM:

Total Receivables was $26.5 Mil.
Revenue was 27.57 + 49.926 + 34.307 + 38.5 = $150.3 Mil.
Gross Profit was 3.2 + 17.584 + 12.128 + 12.142 = $45.1 Mil.
Total Current Assets was $48.6 Mil.
Total Assets was $381.0 Mil.
Property, Plant and Equipment(Net PPE) was $31.6 Mil.
Depreciation, Depletion and Amortization(DDA) was $3.2 Mil.
Selling, General, & Admin. Expense(SGA) was $0.0 Mil.
Total Current Liabilities was $343.9 Mil.
Long-Term Debt & Capital Lease Obligation was $21.6 Mil.
Net Income was -5.646 + 3.081 + 0.547 + -0.346 = $-2.4 Mil.
Non Operating Income was -0.086 + 0 + 0 + 0 = $-0.1 Mil.
Cash Flow from Operations was -6.249 + 11.447 + -4.316 + 1.953 = $2.8 Mil.

Total Receivables was $30.1 Mil.
Revenue was 33.734 + 49.647 + 35.007 + 35.447 = $153.8 Mil.
Gross Profit was 6.322 + 10.84 + 10.031 + 9.947 = $37.1 Mil.
Total Current Assets was $76.7 Mil.
Total Assets was $387.6 Mil.
Property, Plant and Equipment(Net PPE) was $27.9 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.3 Mil.
Selling, General, & Admin. Expense(SGA) was $0.0 Mil.
Total Current Liabilities was $37.9 Mil.
Long-Term Debt & Capital Lease Obligation was $327.3 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)
	=	(26.528 / 150.303)	/	(30.075 / 153.835)
	=	0.176497	/	0.195502
	=	0.9028

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)
	=	(37.14 / 153.835)	/	(45.054 / 150.303)
	=	0.241428	/	0.299754
	=	0.8054

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 - (48.623 + 31.573) / 380.974)	/	(1 - (76.697 + 27.923) / 387.641)
	=	0.789497	/	0.730111
	=	1.0813

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
	=	150.303	/	153.835
	=	0.977

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))
	=	(2.336 / (2.336 + 27.923))	/	(3.2 / (3.2 + 31.573))
	=	0.0772	/	0.092025
	=	0.8389

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)
	=	(0 / 150.303)	/	(0 / 153.835)
	=	0	/	0
	=	1

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)
	=	((21.603 + 343.901) / 380.974)	/	((327.318 + 37.936) / 387.641)
	=	0.959394	/	0.942248
	=	1.0182

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
	=	(-2.364 - -0.086	-	2.835)	/	380.974
	=	-0.013421

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.

Spanish Broadcasting System has a M-score of -2.75 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of 0.00 mean?

Spanish Broadcasting System (SBSAQ) has a Beneish M-Score of 0.00 as of Jul. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Spanish Broadcasting System and its competitors.

Is Spanish Broadcasting System's Beneish M-Score too high?

Spanish Broadcasting System's current Beneish M-Score is 0.00. Overall, Spanish Broadcasting System has a GF Score™ of 44/100, reflecting its overall financial health beyond just this single metric.

How does Spanish Broadcasting System's Beneish M-Score compare to CMLS and TAAG?

Spanish Broadcasting System's Beneish M-Score of 0.00 can be compared against companies in the Media - Diversified industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Beneish M-Score for a Media - Diversified company?

A good Beneish M-Score depends on the Media - Diversified industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Beneish M-Score mean?

A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Spanish Broadcasting System and its competitors. Spanish Broadcasting System's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Spanish Broadcasting System stock overvalued right now?

Spanish Broadcasting System (SBSAQ) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Spanish Broadcasting System's overall GF Score™ is 44/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Beneish M-Score calculated?

Beneish M-Score is calculated from a company's financial statements. For Spanish Broadcasting System (SBSAQ), the current Beneish M-Score is 0.00 as of Jul. 05, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Spanish Broadcasting System Business Description

Industry Communication Services Media - Diversified

Comparable Companies CMLS TAAG MDEX LPTVQ XHLD BBGI NXST XTER:RRTL TSE:9401 LUX:SESGL TSE:9404 TSE:9412 TSE:4676 LSE:ITV ISX:EMTK TGNA SHSE:600959 MIL:MFEB SAU:4072 BOM:532733

Address 7007 NW 77th Avenue, Miami, FL, USA, 33166

Website https://www.spanishbroadcasting.com

Spanish Broadcasting System Inc is a Spanish language media and entertainment company with radio and television stations in the United States Hispanic markets, including Puerto Rico. The company operates radio stations in the Los Angeles, New York, Puerto Rico, Chicago, Miami, Orlando, Tampa, and San Francisco markets. It maintains multiple Spanish and bilingual websites that provide content related to Latin music, entertainment, news, and culture. Additionally, it also provides digital marketing solutions through a pure-play digital marketing department, The revenue is generated from the sale of advertising time on stations to local and national advertisers.

44GF Score

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