Fox Factory Holding Beneish M-Score Historical Data
The historical data trend for Fox Factory Holding'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.
Fox Factory Holding Beneish M-Score Chart
|
Fox Factory Holding Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.11 |
-2.34 |
-1.95 |
-2.01 |
-2.71 |
|
Fox Factory Holding Quarterly Data
|
|
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.48 |
-2.66 |
-2.75 |
-2.71 |
-2.94 |
Competitive Comparison of Fox Factory Holding's Beneish M-Score
For the Auto Parts subindustry, Fox Factory Holding'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.
Fox Factory Holding's Beneish M-Score Distribution in the Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Fox Factory Holding's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Fox Factory Holding's Beneish M-Score falls into.
Fox Factory Holding 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 Fox Factory Holding 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 * 0.9814 | + | 0.528 * 1.0777 | + | 0.404 * 1.3785 | + | 0.892 * 0.8605 | + | 0.115 * 0.9733 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.2698 | + | 4.679 * -0.078706 | - | 0.327 * 1.2843 |
| = | -2.94 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was $165 Mil.
Revenue was 333.472 + 332.495 + 331.117 + 400.715 = $1,398 Mil.
Gross Profit was 103.158 + 92.261 + 107.227 + 132.026 = $435 Mil.
Total Current Assets was $765 Mil.
Total Assets was $2,248 Mil.
Property, Plant and Equipment(Net PPE) was $337 Mil.
Depreciation, Depletion and Amortization(DDA) was $66 Mil.
Selling, General, & Admin. Expense(SGA) was $236 Mil.
Total Current Liabilities was $223 Mil.
Long-Term Debt & Capital Lease Obligation was $748 Mil.
Net Income was -3.496 + 4.051 + 35.293 + 39.735 = $76 Mil.
Non Operating Income was -0.309 + -2.426 + 0.878 + -0.536 = $-2 Mil.
Cash Flow from Operations was 9.352 + 52.058 + 129.993 + 63.527 = $255 Mil.
|
Total Receivables was $195 Mil.
Revenue was 399.851 + 408.641 + 409.168 + 406.705 = $1,624 Mil.
Gross Profit was 133.298 + 130.872 + 137.267 + 142.944 = $544 Mil.
Total Current Assets was $882 Mil.
Total Assets was $1,824 Mil.
Property, Plant and Equipment(Net PPE) was $268 Mil.
Depreciation, Depletion and Amortization(DDA) was $51 Mil.
Selling, General, & Admin. Expense(SGA) was $216 Mil.
Total Current Liabilities was $254 Mil.
Long-Term Debt & Capital Lease Obligation was $360 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) |
| = | (164.943 / 1397.799) | / | (195.313 / 1624.365) |
| = | 0.118002 | / | 0.12024 |
| | = | 0.9814 |
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) |
| = | (544.381 / 1624.365) | / | (434.672 / 1397.799) |
| = | 0.335135 | / | 0.310969 |
| | = | 1.0777 |
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 - (765.463 + 337.152) / 2248.277) | / | (1 - (881.669 + 268.333) / 1824.432) |
| = | 0.509573 | / | 0.369666 |
| | = | 1.3785 |
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 |
| = | 1397.799 | / | 1624.365 |
| | = | 0.8605 |
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)) |
| = | (50.66 / (50.66 + 268.333)) | / | (65.739 / (65.739 + 337.152)) |
| = | 0.158812 | / | 0.163168 |
| | = | 0.9733 |
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) |
| = | (236.21 / 1397.799) | / | (216.178 / 1624.365) |
| = | 0.168987 | / | 0.133085 |
| | = | 1.2698 |
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) |
| = | ((748.144 + 223.025) / 2248.277) | / | ((360 + 253.636) / 1824.432) |
| = | 0.431961 | / | 0.336344 |
| | = | 1.2843 |
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 |
| = | (75.583 - -2.393 | - | 254.93) | / | 2248.277 |
| | = | -0.078706 |
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.
Fox Factory Holding has a M-score of -2.94 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
FOXF has been successfully added to your