Village Super Market Beneish M-Score Historical Data
The historical data trend for Village Super Market'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.
Village Super Market Beneish M-Score Chart
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Village Super Market Annual Data
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Trend |
Jul14 |
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Jul19 |
Jul20 |
Jul21 |
Jul22 |
Jul23 |
| Beneish M-Score |
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-3.24 |
-2.24 |
-2.85 |
-1.50 |
-2.58 |
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Village Super Market Quarterly Data
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Apr19 |
Jul19 |
Oct19 |
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Jan24 |
| Beneish M-Score |
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-3.28 |
-2.65 |
-2.58 |
-1.13 |
1.95 |
Competitive Comparison of Village Super Market's Beneish M-Score
For the Grocery Stores subindustry, Village Super Market'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.
Village Super Market's Beneish M-Score Distribution in the Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Village Super Market's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Village Super Market's Beneish M-Score falls into.
Village Super Market 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 Village Super Market 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 * 6.0949 | + | 0.528 * 0.9816 | + | 0.404 * 0.8935 | + | 0.892 * 1.0388 | + | 0.115 * 0.9877 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.986 | + | 4.679 * -0.054053 | - | 0.327 * 0.9517 |
| = | 1.95 |
* 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 (Jan24) TTM: | Last Year (Jan23) TTM: |
Total Receivables was $39 Mil.
Revenue was 575.579 + 536.354 + 553.806 + 529.294 = $2,195 Mil.
Gross Profit was 163.442 + 152.948 + 161.063 + 151.223 = $629 Mil.
Total Current Assets was $236 Mil.
Total Assets was $970 Mil.
Property, Plant and Equipment(Net PPE) was $555 Mil.
Depreciation, Depletion and Amortization(DDA) was $36 Mil.
Selling, General, & Admin. Expense(SGA) was $528 Mil.
Total Current Liabilities was $176 Mil.
Long-Term Debt & Capital Lease Obligation was $345 Mil.
Net Income was 14.48 + 11.585 + 15.294 + 11.017 = $52 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 30.295 + 18.379 + 36.269 + 19.887 = $105 Mil.
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Total Receivables was $6 Mil.
Revenue was 563.866 + 519.689 + 527.503 + 501.962 = $2,113 Mil.
Gross Profit was 154.879 + 149.285 + 148.285 + 141.591 = $594 Mil.
Total Current Assets was $198 Mil.
Total Assets was $949 Mil.
Property, Plant and Equipment(Net PPE) was $555 Mil.
Depreciation, Depletion and Amortization(DDA) was $35 Mil.
Selling, General, & Admin. Expense(SGA) was $515 Mil.
Total Current Liabilities was $163 Mil.
Long-Term Debt & Capital Lease Obligation was $372 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) |
| = | (39.466 / 2195.033) | / | (6.234 / 2113.02) |
| = | 0.01798 | / | 0.00295 |
| | = | 6.0949 |
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) |
| = | (594.04 / 2113.02) | / | (628.676 / 2195.033) |
| = | 0.281133 | / | 0.286408 |
| | = | 0.9816 |
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 - (236.422 + 555.452) / 970.42) | / | (1 - (197.775 + 555.487) / 948.601) |
| = | 0.183988 | / | 0.205923 |
| | = | 0.8935 |
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 |
| = | 2195.033 | / | 2113.02 |
| | = | 1.0388 |
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)) |
| = | (35.182 / (35.182 + 555.487)) | / | (35.647 / (35.647 + 555.452)) |
| = | 0.059563 | / | 0.060306 |
| | = | 0.9877 |
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) |
| = | (528.006 / 2195.033) | / | (515.492 / 2113.02) |
| = | 0.240546 | / | 0.24396 |
| | = | 0.986 |
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) |
| = | ((345.193 + 176.361) / 970.42) | / | ((372.248 + 163.476) / 948.601) |
| = | 0.537452 | / | 0.564752 |
| | = | 0.9517 |
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 |
| = | (52.376 - 0 | - | 104.83) | / | 970.42 |
| | = | -0.054053 |
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.
Village Super Market has a M-score of 1.95 signals that the company is likely to be a manipulator.
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