Zayo Group Holdings Beneish M-Score Historical Data
The historical data trend for Zayo Group Holdings'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.
Zayo Group Holdings Beneish M-Score Chart
|
Zayo Group Holdings Annual Data
|
|
Trend |
Jun12 |
Jun13 |
Jun14 |
Jun15 |
Jun16 |
Jun17 |
Jun18 |
Jun19 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
-2.43 |
-2.42 |
-2.57 |
-2.75 |
-3.12 |
|
Zayo Group Holdings Quarterly Data
|
|
Mar15 |
Jun15 |
Sep15 |
Dec15 |
Mar16 |
Jun16 |
Sep16 |
Dec16 |
Mar17 |
Jun17 |
Sep17 |
Dec17 |
Mar18 |
Jun18 |
Sep18 |
Dec18 |
Mar19 |
Jun19 |
Sep19 |
Dec19 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-3.06 |
-2.94 |
-3.12 |
-3.22 |
-3.26 |
Competitive Comparison of Zayo Group Holdings's Beneish M-Score
For the Communication Equipment subindustry, Zayo Group Holdings'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.
Zayo Group Holdings's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Zayo Group Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Zayo Group Holdings's Beneish M-Score falls into.
Zayo Group Holdings 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 Zayo Group Holdings 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 * 0.6131 | + | 0.528 * 1.0013 | + | 0.404 * 0.9048 | + | 0.892 * 1.0014 | + | 0.115 * 1.2264 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0373 | + | 4.679 * -0.088875 | - | 0.327 * 0.9735 |
| = | -3.26 |
* 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 (Dec19) TTM: | Last Year (Dec18) TTM: |
Total Receivables was $125 Mil.
Revenue was 653.7 + 638.6 + 650.6 + 647.2 = $2,590 Mil.
Gross Profit was 421.5 + 407.6 + 412 + 420.9 = $1,662 Mil.
Total Current Assets was $431 Mil.
Total Assets was $9,961 Mil.
Property, Plant and Equipment(Net PPE) was $6,497 Mil.
Depreciation, Depletion and Amortization(DDA) was $633 Mil.
Selling, General, & Admin. Expense(SGA) was $507 Mil.
Total Current Liabilities was $791 Mil.
Long-Term Debt & Capital Lease Obligation was $6,247 Mil.
Net Income was 61.4 + 17.9 + 63 + 34.7 = $177 Mil.
Non Operating Income was 28 + -12.3 + -7.8 + 7.5 = $15 Mil.
Cash Flow from Operations was 256.4 + 311.8 + 225.1 + 253.6 = $1,047 Mil.
|
Total Receivables was $203 Mil.
Revenue was 639.1 + 641.1 + 657.3 + 649 = $2,587 Mil.
Gross Profit was 417.1 + 412.7 + 418 + 414.1 = $1,662 Mil.
Total Current Assets was $480 Mil.
Total Assets was $9,137 Mil.
Property, Plant and Equipment(Net PPE) was $5,582 Mil.
Depreciation, Depletion and Amortization(DDA) was $682 Mil.
Selling, General, & Admin. Expense(SGA) was $488 Mil.
Total Current Liabilities was $563 Mil.
Long-Term Debt & Capital Lease Obligation was $6,069 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) |
| = | (124.5 / 2590.1) | / | (202.8 / 2586.5) |
| = | 0.048068 | / | 0.078407 |
| | = | 0.6131 |
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) |
| = | (1661.9 / 2586.5) | / | (1662 / 2590.1) |
| = | 0.642529 | / | 0.641674 |
| | = | 1.0013 |
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 - (430.7 + 6497.3) / 9961.2) | / | (1 - (480 + 5582.3) / 9137.4) |
| = | 0.304501 | / | 0.33654 |
| | = | 0.9048 |
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 |
| = | 2590.1 | / | 2586.5 |
| | = | 1.0014 |
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)) |
| = | (681.7 / (681.7 + 5582.3)) | / | (632.7 / (632.7 + 6497.3)) |
| = | 0.108828 | / | 0.088738 |
| | = | 1.2264 |
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) |
| = | (507.1 / 2590.1) | / | (488.2 / 2586.5) |
| = | 0.195784 | / | 0.188749 |
| | = | 1.0373 |
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) |
| = | ((6247 + 790.6) / 9961.2) | / | ((6068.5 + 562.5) / 9137.4) |
| = | 0.706501 | / | 0.725699 |
| | = | 0.9735 |
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 |
| = | (177 - 15.4 | - | 1046.9) | / | 9961.2 |
| | = | -0.088875 |
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.
Zayo Group Holdings has a M-score of -3.26 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
ZAYO has been successfully added to your