Dollarama Beneish M-Score Historical Data
The historical data trend for Dollarama'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.
Dollarama Beneish M-Score Chart
|
Dollarama Annual Data
|
|
Trend |
Jan16 |
Jan17 |
Jan18 |
Jan19 |
Jan20 |
Jan21 |
Jan22 |
Jan23 |
Jan24 |
Jan25 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-3.24 |
-2.84 |
-1.70 |
-2.96 |
-2.12 |
|
Dollarama Quarterly Data
|
|
Jul20 |
Oct20 |
Jan21 |
Apr21 |
Jul21 |
Oct21 |
Jan22 |
Apr22 |
Jul22 |
Oct22 |
Jan23 |
Apr23 |
Jul23 |
Oct23 |
Jan24 |
Apr24 |
Jul24 |
Oct24 |
Jan25 |
Apr25 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-3.28 |
-2.67 |
-2.44 |
-2.12 |
-2.31 |
Competitive Comparison of Dollarama's Beneish M-Score
For the Discount Stores subindustry, Dollarama'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.
Dollarama's Beneish M-Score Distribution in the Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Dollarama's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Dollarama's Beneish M-Score falls into.
Dollarama 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 Dollarama 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 * 1.3462 | + | 0.528 * 0.9873 | + | 0.404 * 1.4313 | + | 0.892 * 1.092 | + | 0.115 * 0.9644 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0003 | + | 4.679 * -0.092843 | - | 0.327 * 0.8694 |
| = | -2.31 |
* 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 (Apr25) TTM: | Last Year (Apr24) TTM: |
Total Receivables was C$42 Mil.
Revenue was 1521.21 + 1881.345 + 1562.644 + 1563.384 = C$6,529 Mil.
Gross Profit was 672.31 + 880.559 + 698.716 + 707.195 = C$2,959 Mil.
Total Current Assets was C$1,249 Mil.
Total Assets was C$6,568 Mil.
Property, Plant and Equipment(Net PPE) was C$3,197 Mil.
Depreciation, Depletion and Amortization(DDA) was C$412 Mil.
Selling, General, & Admin. Expense(SGA) was C$946 Mil.
Total Current Liabilities was C$952 Mil.
Long-Term Debt & Capital Lease Obligation was C$4,180 Mil.
Net Income was 273.756 + 390.954 + 275.806 + 285.942 = C$1,226 Mil.
Non Operating Income was 50.66 + 58.034 + 27.083 + 22.698 = C$158 Mil.
Cash Flow from Operations was 315.616 + 569.518 + 370.353 + 422.304 = C$1,678 Mil.
|
Total Receivables was C$29 Mil.
Revenue was 1405.772 + 1639.171 + 1477.692 + 1455.936 = C$5,979 Mil.
Gross Profit was 607.276 + 758.614 + 670.23 + 638.855 = C$2,675 Mil.
Total Current Assets was C$1,243 Mil.
Total Assets was C$5,489 Mil.
Property, Plant and Equipment(Net PPE) was C$3,007 Mil.
Depreciation, Depletion and Amortization(DDA) was C$373 Mil.
Selling, General, & Admin. Expense(SGA) was C$866 Mil.
Total Current Liabilities was C$593 Mil.
Long-Term Debt & Capital Lease Obligation was C$4,340 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) |
| = | (42.274 / 6528.583) | / | (28.759 / 5978.571) |
| = | 0.006475 | / | 0.00481 |
| | = | 1.3462 |
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) |
| = | (2674.975 / 5978.571) | / | (2958.78 / 6528.583) |
| = | 0.447427 | / | 0.453204 |
| | = | 0.9873 |
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 - (1249.132 + 3197.025) / 6568.184) | / | (1 - (1242.585 + 3007.464) / 5489.033) |
| = | 0.323077 | / | 0.22572 |
| | = | 1.4313 |
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 |
| = | 6528.583 | / | 5978.571 |
| | = | 1.092 |
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)) |
| = | (372.512 / (372.512 + 3007.464)) | / | (412.485 / (412.485 + 3197.025)) |
| = | 0.110211 | / | 0.114277 |
| | = | 0.9644 |
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) |
| = | (946.459 / 6528.583) | / | (866.439 / 5978.571) |
| = | 0.144972 | / | 0.144924 |
| | = | 1.0003 |
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) |
| = | ((4179.528 + 952.452) / 6568.184) | / | ((4339.73 + 593.414) / 5489.033) |
| = | 0.781339 | / | 0.898727 |
| | = | 0.8694 |
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 |
| = | (1226.458 - 158.475 | - | 1677.791) | / | 6568.184 |
| | = | -0.092843 |
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.
Dollarama has a M-score of -2.31 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
TSX:DOL has been successfully added to your