Samsonite Group Beneish M-Score Historical Data
The historical data trend for Samsonite Group'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.
Samsonite Group Beneish M-Score Chart
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Samsonite Group Annual Data
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Dec15 |
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Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
- |
- |
- |
-2.63 |
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Samsonite Group Quarterly Data
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Dec24 |
| Beneish M-Score |
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-1.64 |
-2.32 |
-2.63 |
Competitive Comparison of Samsonite Group's Beneish M-Score
For the Footwear & Accessories subindustry, Samsonite Group'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.
Samsonite Group's Beneish M-Score Distribution in the Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Samsonite Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Samsonite Group's Beneish M-Score falls into.
Samsonite Group 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 Samsonite Group 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 * 0.7728 | + | 0.528 * 0.9804 | + | 0.404 * 0.9901 | + | 0.892 * 1.3171 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0291 | + | 4.679 * -0.043156 | - | 0.327 * 0.9873 |
| = | -2.62 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was $325 Mil.
Revenue was 942.4 + 877.7 + 908.9 + 859.6 = $3,589 Mil.
Gross Profit was 567.3 + 520.1 + 545.3 + 519.5 = $2,152 Mil.
Total Current Assets was $1,743 Mil.
Total Assets was $5,079 Mil.
Property, Plant and Equipment(Net PPE) was $761 Mil.
Depreciation, Depletion and Amortization(DDA) was $222 Mil.
Selling, General, & Admin. Expense(SGA) was $1,520 Mil.
Total Current Liabilities was $1,090 Mil.
Long-Term Debt & Capital Lease Obligation was $2,094 Mil.
Net Income was 115.1 + 66.2 + 81.4 + 82.9 = $346 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 221.7 + 150.2 + 137.9 + 55 = $565 Mil.
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Total Receivables was $320 Mil.
Revenue was 948.5 + 957.7 + 0 + 818.5 = $2,725 Mil.
Gross Profit was 568.3 + 570.9 + 0 + 462.8 = $1,602 Mil.
Total Current Assets was $1,836 Mil.
Total Assets was $5,112 Mil.
Property, Plant and Equipment(Net PPE) was $658 Mil.
Depreciation, Depletion and Amortization(DDA) was $0 Mil.
Selling, General, & Admin. Expense(SGA) was $1,121 Mil.
Total Current Liabilities was $1,157 Mil.
Long-Term Debt & Capital Lease Obligation was $2,088 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) |
| = | (325.3 / 3588.6) | / | (319.6 / 2724.7) |
| = | 0.090648 | / | 0.117297 |
| | = | 0.7728 |
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) |
| = | (1602 / 2724.7) | / | (2152.2 / 3588.6) |
| = | 0.587955 | / | 0.599732 |
| | = | 0.9804 |
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 - (1742.6 + 761.3) / 5079.2) | / | (1 - (1835.6 + 658.4) / 5111.8) |
| = | 0.507029 | / | 0.512109 |
| | = | 0.9901 |
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 |
| = | 3588.6 | / | 2724.7 |
| | = | 1.3171 |
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 + 658.4)) | / | (222 / (222 + 761.3)) |
| = | 0 | / | 0.22577 |
| | = | 1 |
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) |
| = | (1519.8 / 3588.6) | / | (1121.3 / 2724.7) |
| = | 0.423508 | / | 0.411532 |
| | = | 1.0291 |
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) |
| = | ((2093.6 + 1090.3) / 5079.2) | / | ((2088.1 + 1157.4) / 5111.8) |
| = | 0.626851 | / | 0.634904 |
| | = | 0.9873 |
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 |
| = | (345.6 - 0 | - | 564.8) | / | 5079.2 |
| | = | -0.043156 |
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.
Samsonite Group has a M-score of -2.62 suggests that the company is unlikely to be a manipulator.
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