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Worldpay (Worldpay) Beneish M-Score : 0.00 (As of May. 12, 2024)


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What is Worldpay Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

The historical rank and industry rank for Worldpay's Beneish M-Score or its related term are showing as below:

During the past 10 years, the highest Beneish M-Score of Worldpay was 0.00. The lowest was 0.00. And the median was 0.00.


Worldpay Beneish M-Score Historical Data

The historical data trend for Worldpay'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.

* Premium members only.

Worldpay Beneish M-Score Chart

Worldpay Annual Data
Trend Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.63 -2.73 -2.43 -3.10 -2.31

Worldpay Quarterly Data
Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.21 -2.27 -2.31 -2.78 -2.84

Competitive Comparison of Worldpay's Beneish M-Score

For the Specialty Business Services subindustry, Worldpay'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.


Worldpay's Beneish M-Score Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, Worldpay's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Worldpay's Beneish M-Score falls into.



Worldpay 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 Worldpay 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 * 1.0257+0.528 * 0.7533+0.404 * 0.9293+0.892 * 1.0389+0.115 * 0.8058
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1285+4.679 * -0.043846-0.327 * 1.0286
=-2.84

* 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 (Jun19) TTM:Last Year (Jun18) TTM:
Total Receivables was $1,681 Mil.
Revenue was 1073 + 970 + 1050 + 1017.9 = $4,111 Mil.
Gross Profit was 1073 + 970 + 1050 + 1017.9 = $4,111 Mil.
Total Current Assets was $7,756 Mil.
Total Assets was $27,097 Mil.
Property, Plant and Equipment(Net PPE) was $1,193 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,118 Mil.
Selling, General, & Admin. Expense(SGA) was $1,685 Mil.
Total Current Liabilities was $8,151 Mil.
Long-Term Debt & Capital Lease Obligation was $7,080 Mil.
Net Income was 143.3 + 36.4 + 110.5 + 2.8 = $293 Mil.
Non Operating Income was -4.2 + 3.5 + -7.7 + -3.5 = $-12 Mil.
Cash Flow from Operations was 769.3 + 166.2 + 716.7 + -159.2 = $1,493 Mil.
Total Receivables was $1,578 Mil.
Revenue was 1006.8 + 850.7 + 1065.9 + 1033.7 = $3,957 Mil.
Gross Profit was 1006.8 + 850.7 + 569 + 554.2 = $2,981 Mil.
Total Current Assets was $6,432 Mil.
Total Assets was $26,722 Mil.
Property, Plant and Equipment(Net PPE) was $1,032 Mil.
Depreciation, Depletion and Amortization(DDA) was $659 Mil.
Selling, General, & Admin. Expense(SGA) was $1,438 Mil.
Total Current Liabilities was $6,714 Mil.
Long-Term Debt & Capital Lease Obligation was $7,888 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)
=(1681 / 4110.9) / (1577.6 / 3957.1)
=0.408913 / 0.398676
=1.0257

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)
=(2980.7 / 3957.1) / (4110.9 / 4110.9)
=0.753254 / 1
=0.7533

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 - (7755.5 + 1193.3) / 27097.4) / (1 - (6431.6 + 1032.2) / 26721.8)
=0.669754 / 0.720685
=0.9293

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
=4110.9 / 3957.1
=1.0389

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))
=(659.1 / (659.1 + 1032.2)) / (1117.7 / (1117.7 + 1193.3))
=0.3897 / 0.483643
=0.8058

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)
=(1685.4 / 4110.9) / (1437.6 / 3957.1)
=0.409983 / 0.363296
=1.1285

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)
=((7080.2 + 8150.7) / 27097.4) / ((7887.7 + 6714) / 26721.8)
=0.56208 / 0.546434
=1.0286

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
=(293 - -11.9 - 1493) / 27097.4
=-0.043846

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.

Worldpay has a M-score of -2.84 suggests that the company is unlikely to be a manipulator.


Worldpay Beneish M-Score Related Terms

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Worldpay (Worldpay) Business Description

Traded in Other Exchanges
N/A
Address
8500 Governor's Hill Drive, Symmes Township, OH, USA, 45249
Worldpay is one of the largest merchant acquirers in the world, allowing businesses to accept payments across numerous payment card brands. The company's activities span multiple channels, from the physical point-of-sale to online. Worldpay maintains its own direct salesforce and works with third-party resellers to distribute its offerings. Worldpay also provides outsourced payment processing to small to midsize banks.
Executives
Karen A Richardson director
Boon Sim director C/O VANTIV, INC., 8500 GOVERNORS HILL DRIVE, CINCINNATI OH 45249
Kevin Costello director C/O ARIBA INC, 807 11TH AVENUE, SUNNYVALE CA 94089
Mark L Heimbouch director, officer: President and COO 8500 GOVERNORS HILL DRIVE, CINCINNATI OH 45249-1384
Gary L Lauer director 440 EAST MIDDLEFIELD ROAD, MOUNTAIN VIEW CA 94043
Stephanie Ferris officer: Chief Financial Officer C/O VANTIV, INC., 8500 GOVERNORS HILL DRIVE, CINCINNATI OH 45249
Asif Ramji officer: Chief Product & Mktg Officer 3399 PEACHTREE ROAD NE, SUITE 1900, ATLANTA GA 30326
Christopher A Thompson officer: Chief Accounting Officer C/O VANTIV, INC., 8500 GOVERNORS HILL DRIVE, CINCINNATI OH 45249
Lisa Hook director NEUSTAR, INC. - C/O DENIS CURRAN, 46000 CENTER OAK PLAZA, STERLING VA 20166
Royal Cole officer: EVP, Head of North Am. Region THE WESTERN UNION COMPANY, 12500 EAST BELFORD AVENUE, ENGLEWOOD CO 80112
Lee Adrean director 1564 NE EXPRESSWAY, ATTN: BJ PURCELL, ATLANTA GA 30329
Jeffrey E Stiefler director C/O INTUIT INC., 2700 COAST AVENUE, MOUNTAIN VIEW CA 94043
Charles Drucker director, officer: Executive Chairman and CEO 38 FOUNTAIN SQUARE PLAZA, MD 10AT76, CINCINNATI OH 45263
Nelson F Greene officer: Chf Legal Officer & Secretary 1700 SOUTH PATTERSON BOULEVARD, DAYTON OH 45479
Michael Rake director C/O THE MCGRAW-HILL COMPANIES, 1221 AVENUE OF THE AMERICAS, 47TH FL., NEW YORK NY 10020