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Flanigan'S Enterprises (Flanigan'S Enterprises) Beneish M-Score : -2.38 (As of May. 11, 2024)


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What is Flanigan'S Enterprises 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.

Good Sign:

Beneish M-Score -2.38 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

BDL' s Beneish M-Score Range Over the Past 10 Years
Min: -3.57   Med: -2.86   Max: -0.97
Current: -2.38

During the past 13 years, the highest Beneish M-Score of Flanigan'S Enterprises was -0.97. The lowest was -3.57. And the median was -2.86.


Flanigan'S Enterprises Beneish M-Score Historical Data

The historical data trend for Flanigan'S Enterprises'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.

Flanigan'S Enterprises Beneish M-Score Chart

Flanigan'S Enterprises Annual Data
Trend Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.37 -3.27 -3.26 -2.65 -1.87

Flanigan'S Enterprises 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 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 -2.84 -2.31 -2.22 -1.87 -2.38

Competitive Comparison of Flanigan'S Enterprises's Beneish M-Score

For the Restaurants subindustry, Flanigan'S Enterprises'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.


Flanigan'S Enterprises's Beneish M-Score Distribution in the Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Flanigan'S Enterprises's Beneish M-Score distribution charts can be found below:

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



Flanigan'S Enterprises 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 Flanigan'S Enterprises 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 * 1.1234+0.528 * 0.9846+0.404 * 1.0817+0.892 * 1.0923+0.115 * 0.9822
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0685+4.679 * -0.024434-0.327 * 0.9663
=-2.38

* 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 $0.8 Mil.
Revenue was 44.838 + 43.058 + 45.07 + 43.537 = $176.5 Mil.
Gross Profit was 8.578 + 9.08 + 10.325 + 10.063 = $38.0 Mil.
Total Current Assets was $36.2 Mil.
Total Assets was $145.9 Mil.
Property, Plant and Equipment(Net PPE) was $107.8 Mil.
Depreciation, Depletion and Amortization(DDA) was $6.3 Mil.
Selling, General, & Admin. Expense(SGA) was $32.6 Mil.
Total Current Liabilities was $24.3 Mil.
Long-Term Debt & Capital Lease Obligation was $46.7 Mil.
Net Income was 0.109 + -0.127 + 1.605 + 1.897 = $3.5 Mil.
Non Operating Income was 0.252 + 0.268 + 0.252 + 0.218 = $1.0 Mil.
Cash Flow from Operations was 3.45 + 1.289 + 3.006 + -1.685 = $6.1 Mil.
Total Receivables was $0.6 Mil.
Revenue was 41.617 + 39.491 + 40.415 + 40.07 = $161.6 Mil.
Gross Profit was 8.343 + 8.53 + 8.34 + 9.081 = $34.3 Mil.
Total Current Assets was $51.4 Mil.
Total Assets was $149.2 Mil.
Property, Plant and Equipment(Net PPE) was $96.0 Mil.
Depreciation, Depletion and Amortization(DDA) was $5.5 Mil.
Selling, General, & Admin. Expense(SGA) was $27.9 Mil.
Total Current Liabilities was $24.7 Mil.
Long-Term Debt & Capital Lease Obligation was $50.5 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)
=(0.784 / 176.503) / (0.639 / 161.593)
=0.004442 / 0.003954
=1.1234

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)
=(34.294 / 161.593) / (38.046 / 176.503)
=0.212225 / 0.215554
=0.9846

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 - (36.246 + 107.769) / 145.942) / (1 - (51.374 + 95.977) / 149.172)
=0.013204 / 0.012207
=1.0817

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
=176.503 / 161.593
=1.0923

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))
=(5.545 / (5.545 + 95.977)) / (6.346 / (6.346 + 107.769))
=0.054619 / 0.055611
=0.9822

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)
=(32.598 / 176.503) / (27.93 / 161.593)
=0.184688 / 0.172842
=1.0685

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)
=((46.746 + 24.33) / 145.942) / ((50.483 + 24.699) / 149.172)
=0.487015 / 0.503995
=0.9663

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
=(3.484 - 0.99 - 6.06) / 145.942
=-0.024434

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.

Flanigan'S Enterprises has a M-score of -2.38 suggests that the company is unlikely to be a manipulator.


Flanigan'S Enterprises Beneish M-Score Related Terms

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Flanigan'S Enterprises (Flanigan'S Enterprises) Business Description

Traded in Other Exchanges
Address
5059 N.E. 18th Avenue, Fort Lauderdale, FL, USA, 33334
Flanigan'S Enterprises Inc operates as a chain of small cocktail lounges and packages liquor stores throughout South Florida. Its menu consists of a wide variety of options including prime rib, steaks, pasta, entree salads, burgers, a variety of sandwiches, and oversized signature desserts. The business activity is principally conducted in two segments namely Restaurant and Package liquor store segment. Its Restaurant segment offers alcoholic beverages and full food service and Package stores consist of retail liquor sales and related items. The company generates maximum revenue from Restaurant segment.
Executives
E. Mary Bennett director 2168 CENTERVIEW CT N, CLEARWATER FL 33759
Christopher Barry Oneil director 4101 NE 26TH AVENUE, LIGHTHOUSE POINT FL 33064
August Bucci director, officer: Chief Operating Officer 13078 NORTHWEST 23RD ST, PEMBROKE PINES FL 33028
James Ii Flanigan director, officer: President 5059 NORTHEAST 18TH AVE, FORT LAUDERDALE FL 33334
Jeffrey D Kastner director, officer: CFO & Secretary 5059 N.E. 18TH AVENUE, FORT LAUDERDALE FL 33334
Christopher Jeff Nelms director 724 SE 17TH TERRACE, DEERFIELD BEACH FL 33441
Michael B Flanigan director 601 OVERLOOK DRIVE, STUART FL 34994
Barbara J Kronk director 9990 N.W. 39TH STREET, HOLLYWOOD FL 33024
Jean Picard officer: VP of Package Operations 8351 NORTHWEST 166TH TERRACE, MIAMI FL 33016
Patrick J Flanigan director 1750 NORTHWEST RIVER TRAIL, STUART FL 34994
Joseph G Flanigan director, officer: Chariman & CEO 6 GATEHOUSE ROAD, SEA RANCH LAKES FL 33308

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