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Mondee Holdings (Mondee Holdings) Beneish M-Score : -0.25 (As of May. 12, 2024)


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What is Mondee Holdings 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.

Warning Sign:

Beneish M-Score -0.25 higher than -1.78, which implies that the company might have manipulated its financial results.

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

MOND' s Beneish M-Score Range Over the Past 10 Years
Min: -2.98   Med: -1.62   Max: -0.25
Current: -0.25

During the past 4 years, the highest Beneish M-Score of Mondee Holdings was -0.25. The lowest was -2.98. And the median was -1.62.


Mondee Holdings Beneish M-Score Historical Data

The historical data trend for Mondee 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.

* Premium members only.

Mondee Holdings Beneish M-Score Chart

Mondee Holdings Annual Data
Trend Dec20 Dec21 Dec22 Dec23
Beneish M-Score
- - -2.98 -0.25

Mondee Holdings Quarterly Data
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 -2.98 -1.91 - -0.89 -0.25

Competitive Comparison of Mondee Holdings's Beneish M-Score

For the Travel Services subindustry, Mondee 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.


Mondee Holdings's Beneish M-Score Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Mondee Holdings's Beneish M-Score distribution charts can be found below:

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



Mondee 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 Mondee 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 * 3.369+0.528 * 1+0.404 * 1.04+0.892 * 1.4003+0.115 * 1.0952
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7639+4.679 * -0.071475-0.327 * 1.1154
=-0.25

* 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 $129.9 Mil.
Revenue was 62.093 + 54.532 + 56.771 + 49.929 = $223.3 Mil.
Gross Profit was 62.093 + 54.532 + 56.771 + 49.929 = $223.3 Mil.
Total Current Assets was $173.1 Mil.
Total Assets was $392.4 Mil.
Property, Plant and Equipment(Net PPE) was $20.5 Mil.
Depreciation, Depletion and Amortization(DDA) was $16.1 Mil.
Selling, General, & Admin. Expense(SGA) was $220.2 Mil.
Total Current Liabilities was $161.6 Mil.
Long-Term Debt & Capital Lease Obligation was $153.6 Mil.
Net Income was -13.195 + -20.099 + -14.608 + -12.915 = $-60.8 Mil.
Non Operating Income was -2.525 + -8.684 + 1.545 + -1.228 = $-10.9 Mil.
Cash Flow from Operations was -8.479 + -0.994 + -2.427 + -9.979 = $-21.9 Mil.
Total Receivables was $27.5 Mil.
Revenue was 34.248 + 40.513 + 45.656 + 39.067 = $159.5 Mil.
Gross Profit was 34.248 + 40.513 + 45.656 + 39.067 = $159.5 Mil.
Total Current Assets was $119.7 Mil.
Total Assets was $258.1 Mil.
Property, Plant and Equipment(Net PPE) was $12.7 Mil.
Depreciation, Depletion and Amortization(DDA) was $11.8 Mil.
Selling, General, & Admin. Expense(SGA) was $205.8 Mil.
Total Current Liabilities was $57.0 Mil.
Long-Term Debt & Capital Lease Obligation was $128.9 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)
=(129.86 / 223.325) / (27.527 / 159.484)
=0.581484 / 0.1726
=3.369

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)
=(159.484 / 159.484) / (223.325 / 223.325)
=1 / 1
=1

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 - (173.097 + 20.543) / 392.391) / (1 - (119.68 + 12.716) / 258.097)
=0.506513 / 0.48703
=1.04

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
=223.325 / 159.484
=1.4003

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))
=(11.77 / (11.77 + 12.716)) / (16.068 / (16.068 + 20.543))
=0.480683 / 0.438884
=1.0952

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)
=(220.179 / 223.325) / (205.829 / 159.484)
=0.985913 / 1.290593
=0.7639

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)
=((153.583 + 161.569) / 392.391) / ((128.858 + 56.995) / 258.097)
=0.803158 / 0.72009
=1.1154

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
=(-60.817 - -10.892 - -21.879) / 392.391
=-0.071475

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.

Mondee Holdings has a M-score of -0.25 signals that the company is likely to be a manipulator.


Mondee Holdings Beneish M-Score Related Terms

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Mondee Holdings (Mondee Holdings) Business Description

Traded in Other Exchanges
Address
10800 Pecan Park Blvd., Suite 315, Austin, TX, USA, 78750
Mondee Holdings Inc is a travel technology company & marketplace with a portfolio of leisure & corporate travel sectors. It provides platform technologies, operating systems, & services that enable travel transactions to serve travelers directly or through travel affiliates. It has two segments Travel Marketplace & SAAS Platform. The Travel Marketplace segment (transactional business serving the end travelers directly or through travel affiliates) consists of selling airline tickets through the proprietary platform. The SAAS Platform segment offers corporate travel cost savings solutions through its technology platform. The majority is from the Travel Marketplace segment. Geographically, the key revenue is from the United States.
Executives
Jeff Clarke director COMPUTER ASSOCIATES INTERNATIONAL INC, ONE COMPUTER ASSOCIATES PLAZA, ISLANDA NY 11746
Prasad Gundumogula director, 10 percent owner, officer: Chief Executive Officer 2213 VENETIAN SKY DRIVE, LEANDER TX 78641
Stanley Morgan 10 percent owner 1585 BROADWAY, NEW YORK NY 10036
Orestes Fintiklis director, 10 percent owner, officer: Chief Executive Officer 555 MADISON AVENUE, SUITE 11A, NEW YORK NY 10002
Venkat Pasupuleti officer: Chief Technology Officer 2856 CHRONICLE AVENUE, HAYWARD CA 94542
Meredith Waters officer: General Counsel 2616 MARIA ANNA RD., AUSTIN TX 78703
Jesus Portillo officer: Chief Financial Officer 10800 PECAN PARK BLVD, SUITE 315, AUSTIN TX 78750
Madhuri Pasam other: Spouse of 10% Owner 2213 VENETIAN SKY DR, LEANDER TX 78641
Jeffrey David Young 10 percent owner 191 NORTH WACKER DRIVE, SUITE 2350, CHICAGO IL 60606
Origami Capital Partners Llc 10 percent owner 191 NORTH WACKER DRIVE, SUITE 2350, CHICAGO IL 60606
Fly Ocp Llc 10 percent owner 191 NORTH WACKER DRIVE, SUITE 2350, CHICAGO IL 60606
Mondee Holdings, Llc 10 percent owner 2000 ALAMEDA DE LAS PULGAS, SUITE 125, SAN MATEO CA 94403
Noor Sweid director 17 STATE STREET, 21ST FLOOR, NEW YORK CA 10004
Roopa Purushothaman director ASHOK TOWERS, DWING, 003/004 DR B AMBEDKAR MARG PAREL, MUMBAI K7 400012
James Dullum officer: Chief Operating Officer 8800 SOUTH TROPICAL TRAIL, MERRITT ISLAND FL 32952