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 |
-2.60 |
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Playtika Holding Quarterly Data
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Dec18 |
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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-2.48 |
-2.44 |
-2.34 |
-2.60 |
-2.91 |
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 * 1.0082 | + | 0.528 * 0.9969 | + | 0.404 * 0.9547 | + | 0.892 * 0.9521 | + | 0.115 * 1.0089 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0588 | + | 4.679 * -0.087475 | - | 0.327 * 0.8885 |
| = | -2.92 |
* 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 €158 Mil.
Revenue was 599.104 + 584.954 + 590.404 + 593.304 = €2,368 Mil.
Gross Profit was 436.264 + 419.344 + 427.459 + 419.78 = €1,703 Mil.
Total Current Assets was €1,235 Mil.
Total Assets was €2,893 Mil.
Property, Plant and Equipment(Net PPE) was €199 Mil.
Depreciation, Depletion and Amortization(DDA) was €146 Mil.
Selling, General, & Admin. Expense(SGA) was €865 Mil.
Total Current Liabilities was €453 Mil.
Long-Term Debt & Capital Lease Obligation was €2,275 Mil.
Net Income was 48.76 + 34.204 + 35.512 + 69.871 = €188 Mil.
Non Operating Income was -3.864 + -5.043 + -36.543 + 2.215 = €-43 Mil.
Cash Flow from Operations was 27.232 + 164.418 + 101.946 + 191.061 = €485 Mil.
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Total Receivables was €165 Mil.
Revenue was 612.891 + 595.853 + 654.278 + 623.982 = €2,487 Mil.
Gross Profit was 439.447 + 425.083 + 470.66 + 447.931 = €1,783 Mil.
Total Current Assets was €979 Mil.
Total Assets was €2,516 Mil.
Property, Plant and Equipment(Net PPE) was €208 Mil.
Depreciation, Depletion and Amortization(DDA) was €155 Mil.
Selling, General, & Admin. Expense(SGA) was €858 Mil.
Total Current Liabilities was €334 Mil.
Long-Term Debt & Capital Lease Obligation was €2,336 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) |
| = | (158.24 / 2367.766) | / | (164.851 / 2487.004) |
| = | 0.066831 | / | 0.066285 |
| | = | 1.0082 |
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) |
| = | (1783.121 / 2487.004) | / | (1702.847 / 2367.766) |
| = | 0.716976 | / | 0.719179 |
| | = | 0.9969 |
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 - (1235.284 + 198.904) / 2893.124) | / | (1 - (979.392 + 207.815) / 2516.476) |
| = | 0.504277 | / | 0.528226 |
| | = | 0.9547 |
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 |
| = | 2367.766 | / | 2487.004 |
| | = | 0.9521 |
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)) |
| = | (154.858 / (154.858 + 207.815)) | / | (145.959 / (145.959 + 198.904)) |
| = | 0.426991 | / | 0.423238 |
| | = | 1.0089 |
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) |
| = | (864.564 / 2367.766) | / | (857.63 / 2487.004) |
| = | 0.365139 | / | 0.344845 |
| | = | 1.0588 |
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) |
| = | ((2274.792 + 452.732) / 2893.124) | / | ((2336.401 + 333.812) / 2516.476) |
| = | 0.942761 | / | 1.061092 |
| | = | 0.8885 |
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 |
| = | (188.347 - -43.235 | - | 484.657) | / | 2893.124 |
| | = | -0.087475 |
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 -2.92 suggests that the company is unlikely to be a manipulator.
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