WW International Beneish M-Score Historical Data
The historical data trend for WW International'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.
WW International Beneish M-Score Chart
|
WW International Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.38 |
-2.56 |
-2.84 |
-2.53 |
-3.41 |
|
WW International Quarterly Data
|
|
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.53 |
-3.02 |
-2.63 |
-2.80 |
-3.41 |
Competitive Comparison of WW International's Beneish M-Score
For the Personal Services subindustry, WW International'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.
WW International's Beneish M-Score Distribution in the Personal Services Industry
For the Personal Services industry and Consumer Cyclical sector, WW International's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where WW International's Beneish M-Score falls into.
WW International 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 WW International 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 * 0.7194 | + | 0.528 * 1.0043 | + | 0.404 * 1.1895 | + | 0.892 * 0.8555 | + | 0.115 * 0.7034 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1568 | + | 4.679 * -0.117344 | - | 0.327 * 1.0463 |
| = | -3.41 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $14.9 Mil.
Revenue was 205.957 + 214.871 + 226.83 + 241.895 = $889.6 Mil.
Gross Profit was 124.857 + 141.755 + 143.18 + 119.511 = $529.3 Mil.
Total Current Assets was $179.5 Mil.
Total Assets was $982.0 Mil.
Property, Plant and Equipment(Net PPE) was $72.0 Mil.
Depreciation, Depletion and Amortization(DDA) was $52.5 Mil.
Selling, General, & Admin. Expense(SGA) was $503.3 Mil.
Total Current Liabilities was $205.5 Mil.
Long-Term Debt & Capital Lease Obligation was $1,479.9 Mil.
Net Income was -88.135 + 43.731 + 50.828 + -118.679 = $-112.3 Mil.
Non Operating Income was -3.741 + -0.815 + 0.52 + 0.33 = $-3.7 Mil.
Cash Flow from Operations was 7.839 + 25.904 + -0.335 + -26.722 = $6.7 Mil.
|
Total Receivables was $24.3 Mil.
Revenue was 222.903 + 249.718 + 269.454 + 297.761 = $1,039.8 Mil.
Gross Profit was 125.968 + 152.351 + 162.962 + 180.098 = $621.4 Mil.
Total Current Assets was $281.3 Mil.
Total Assets was $1,028.4 Mil.
Property, Plant and Equipment(Net PPE) was $103.9 Mil.
Depreciation, Depletion and Amortization(DDA) was $43.8 Mil.
Selling, General, & Admin. Expense(SGA) was $508.6 Mil.
Total Current Liabilities was $196.6 Mil.
Long-Term Debt & Capital Lease Obligation was $1,490.4 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) |
| = | (14.938 / 889.553) | / | (24.273 / 1039.836) |
| = | 0.016793 | / | 0.023343 |
| | = | 0.7194 |
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) |
| = | (621.379 / 1039.836) | / | (529.303 / 889.553) |
| = | 0.597574 | / | 0.595021 |
| | = | 1.0043 |
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 - (179.474 + 72.013) / 982.03) | / | (1 - (281.331 + 103.925) / 1028.43) |
| = | 0.743911 | / | 0.625394 |
| | = | 1.1895 |
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 |
| = | 889.553 | / | 1039.836 |
| | = | 0.8555 |
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)) |
| = | (43.801 / (43.801 + 103.925)) | / | (52.471 / (52.471 + 72.013)) |
| = | 0.296502 | / | 0.421508 |
| | = | 0.7034 |
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) |
| = | (503.336 / 889.553) | / | (508.623 / 1039.836) |
| = | 0.56583 | / | 0.489138 |
| | = | 1.1568 |
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) |
| = | ((1479.925 + 205.462) / 982.03) | / | ((1490.383 + 196.558) / 1028.43) |
| = | 1.716228 | / | 1.640307 |
| | = | 1.0463 |
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 |
| = | (-112.255 - -3.706 | - | 6.686) | / | 982.03 |
| | = | -0.117344 |
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.
WW International has a M-score of -3.41 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
WW has been successfully added to your