Asbury Automotive Group Beneish M-Score Historical Data
The historical data trend for Asbury Automotive 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.
Asbury Automotive Group Beneish M-Score Chart
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Asbury Automotive Group Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.48 |
-2.15 |
-2.30 |
-2.04 |
-2.41 |
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Asbury Automotive Group Quarterly Data
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Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-2.04 |
-1.95 |
-1.99 |
-2.27 |
-2.41 |
Competitive Comparison of Asbury Automotive Group's Beneish M-Score
For the Auto & Truck Dealerships subindustry, Asbury Automotive 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.
Asbury Automotive Group's Beneish M-Score Distribution in the Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Asbury Automotive Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Asbury Automotive Group's Beneish M-Score falls into.
Asbury Automotive 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 Asbury Automotive 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 * 0.9678 | + | 0.528 * 1.0857 | + | 0.404 * 0.9576 | + | 0.892 * 1.1601 | + | 0.115 * 1.0195 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0053 | + | 4.679 * -0.008847 | - | 0.327 * 0.9577 |
| = | -2.36 |
* 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 €581 Mil.
Revenue was 4301.798 + 3817.267 + 3944.72 + 3865.196 = €15,929 Mil.
Gross Profit was 716.155 + 646.918 + 678.82 + 690 = €2,732 Mil.
Total Current Assets was €2,997 Mil.
Total Assets was €9,872 Mil.
Property, Plant and Equipment(Net PPE) was €2,646 Mil.
Depreciation, Depletion and Amortization(DDA) was €69 Mil.
Selling, General, & Admin. Expense(SGA) was €1,750 Mil.
Total Current Liabilities was €2,709 Mil.
Long-Term Debt & Capital Lease Obligation was €3,079 Mil.
Net Income was 123.004 + 113.796 + 26.105 + 135.332 = €398 Mil.
Non Operating Income was -13.466 + 4.505 + -122.442 + 0 = €-131 Mil.
Cash Flow from Operations was 233.211 + 364.274 + -143.438 + 162.932 = €617 Mil.
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Total Receivables was €518 Mil.
Revenue was 3495.329 + 3435.229 + 3454.235 + 3345.868 = €13,731 Mil.
Gross Profit was 617.141 + 631.07 + 658.191 + 650.251 = €2,557 Mil.
Total Current Assets was €2,803 Mil.
Total Assets was €9,316 Mil.
Property, Plant and Equipment(Net PPE) was €2,345 Mil.
Depreciation, Depletion and Amortization(DDA) was €63 Mil.
Selling, General, & Admin. Expense(SGA) was €1,500 Mil.
Total Current Liabilities was €2,637 Mil.
Long-Term Debt & Capital Lease Obligation was €3,066 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) |
| = | (581.404 / 15928.981) | / | (517.83 / 13730.661) |
| = | 0.0365 | / | 0.037713 |
| | = | 0.9678 |
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) |
| = | (2556.653 / 13730.661) | / | (2731.893 / 15928.981) |
| = | 0.1862 | / | 0.171505 |
| | = | 1.0857 |
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 - (2996.695 + 2646.114) / 9871.835) | / | (1 - (2803.361 + 2345.136) / 9316.17) |
| = | 0.428393 | / | 0.447359 |
| | = | 0.9576 |
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 |
| = | 15928.981 | / | 13730.661 |
| | = | 1.1601 |
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)) |
| = | (62.808 / (62.808 + 2345.136)) | / | (69.477 / (69.477 + 2646.114)) |
| = | 0.026084 | / | 0.025584 |
| | = | 1.0195 |
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) |
| = | (1749.538 / 15928.981) | / | (1500.202 / 13730.661) |
| = | 0.109834 | / | 0.109259 |
| | = | 1.0053 |
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) |
| = | ((3078.825 + 2708.667) / 9871.835) | / | ((3065.806 + 2637.017) / 9316.17) |
| = | 0.586263 | / | 0.612142 |
| | = | 0.9577 |
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 |
| = | (398.237 - -131.403 | - | 616.979) | / | 9871.835 |
| | = | -0.008847 |
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.
Asbury Automotive Group has a M-score of -2.36 suggests that the company is unlikely to be a manipulator.
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