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MSGS (Madison Square Garden Sports) Beneish M-Score : -2.39 (As of Oct. 31, 2024)


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What is Madison Square Garden Sports 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 -2.39 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Madison Square Garden Sports's Beneish M-Score or its related term are showing as below:

MSGS' s Beneish M-Score Range Over the Past 10 Years
Min: -4.67   Med: -2.55   Max: 12.41
Current: -2.39

During the past 13 years, the highest Beneish M-Score of Madison Square Garden Sports was 12.41. The lowest was -4.67. And the median was -2.55.


Madison Square Garden Sports Beneish M-Score Historical Data

The historical data trend for Madison Square Garden Sports'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.

Madison Square Garden Sports Beneish M-Score Chart

Madison Square Garden Sports Annual Data
Trend Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -4.67 12.41 -2.55 -3.10 -2.39

Madison Square Garden Sports Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24
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 -3.10 -2.74 -2.70 -2.43 -2.39

Competitive Comparison of Madison Square Garden Sports's Beneish M-Score

For the Entertainment subindustry, Madison Square Garden Sports'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.


Madison Square Garden Sports's Beneish M-Score Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Madison Square Garden Sports's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Madison Square Garden Sports's Beneish M-Score falls into.



Madison Square Garden Sports 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 Madison Square Garden Sports 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 * 1.0169+0.528 * 0.9545+0.404 * 0.9448+0.892 * 1.1574+0.115 * 1.0955
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9039+4.679 * -0.013216-0.327 * 0.9674
=-2.39

* 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 (Jun24) TTM:Last Year (Jun23) TTM:
Total Receivables was $66 Mil.
Revenue was 227.251 + 429.954 + 326.898 + 43.046 = $1,027 Mil.
Gross Profit was 119.508 + 156.928 + 94.673 + 39.526 = $411 Mil.
Total Current Assets was $217 Mil.
Total Assets was $1,346 Mil.
Property, Plant and Equipment(Net PPE) was $723 Mil.
Depreciation, Depletion and Amortization(DDA) was $3 Mil.
Selling, General, & Admin. Expense(SGA) was $261 Mil.
Total Current Liabilities was $522 Mil.
Long-Term Debt & Capital Lease Obligation was $1,025 Mil.
Net Income was 25.491 + 37.877 + 14.224 + -18.821 = $59 Mil.
Non Operating Income was -4.491 + -1.403 + 2.991 + -12.665 = $-16 Mil.
Cash Flow from Operations was 108.351 + 4.037 + 33.884 + -54.141 = $92 Mil.
Total Receivables was $56 Mil.
Revenue was 126.92 + 382.744 + 353.694 + 24.089 = $887 Mil.
Gross Profit was 46.543 + 143.693 + 127.992 + 20.408 = $339 Mil.
Total Current Assets was $149 Mil.
Total Assets was $1,315 Mil.
Property, Plant and Equipment(Net PPE) was $746 Mil.
Depreciation, Depletion and Amortization(DDA) was $4 Mil.
Selling, General, & Admin. Expense(SGA) was $250 Mil.
Total Current Liabilities was $521 Mil.
Long-Term Debt & Capital Lease Obligation was $1,041 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)
=(66.036 / 1027.149) / (56.108 / 887.447)
=0.064291 / 0.063224
=1.0169

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)
=(338.636 / 887.447) / (410.635 / 1027.149)
=0.381584 / 0.399781
=0.9545

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 - (216.942 + 723.107) / 1346.292) / (1 - (149.233 + 745.784) / 1315.017)
=0.30175 / 0.319388
=0.9448

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
=1027.149 / 887.447
=1.1574

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))
=(3.577 / (3.577 + 745.784)) / (3.164 / (3.164 + 723.107))
=0.004773 / 0.004357
=1.0955

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)
=(261.433 / 1027.149) / (249.885 / 887.447)
=0.254523 / 0.281577
=0.9039

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)
=((1024.952 + 521.982) / 1346.292) / ((1041.437 + 520.528) / 1315.017)
=1.149033 / 1.187791
=0.9674

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
=(58.771 - -15.568 - 92.131) / 1346.292
=-0.013216

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.

Madison Square Garden Sports has a M-score of -2.39 suggests that the company is unlikely to be a manipulator.


Madison Square Garden Sports Beneish M-Score Related Terms

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Madison Square Garden Sports Business Description

Traded in Other Exchanges
Address
Two Penn Plaza, New York, NY, USA, 10121
Madison Square Garden Sports Corp owns and operates a portfolio of assets featuring some of the recognized sports teams, including the Knicks of the NBA and the Rangers of the NHL. It generates revenue from several sources: ticket sales and a portion of suite rental fees at The Garden and others. It has one operating and reportable segment and one reporting unit for goodwill impairment testing purposes.
Executives
Alexander Shvartsman officer: SVP, Controller & PAO TWO PENNSYLVANIA PLAZA, NEW YORK NY 10121
James Lawrence Dolan director, officer: Executive Chairman, other: Member of 13(d) Group BAKER BOTTS L.L.P., 30 ROCKEFELLER PLAZA, NEW YORK NY 10112
David G. Hopkinson officer: President & COO C/O TILRAY, INC., 655 MADISON AVENUE, 19TH FLOOR, NEW YORK NY 10065
David Granville-smith officer: Executive Vice President TWO PENNSYLVANIA PLAZA, NEW YORK NY 10121
Jamaal T Lesane officer: EVP and General Counsel TWO PENNSYLVANIA PLAZA, NEW YORK NY 10121
Quentin F Dolan director 11 PENNSYLVANIA PLAZA, NEW YORK NY 10001
Joseph Cohen director TWO PENNSYLVANIA PLAZA, NEW YORK NY 10121
Dolan Leinauer Corby other: Trustee of 13D Group Member BAKER BOTTS L.L.P., 30 ROCKEFELLER PLAZA, NEW YORK NY 10112
Lawrence J. Burian officer: EVP, GC and Secretary TWO PENN PLAZA, NEW YORK NY 10121
Stephen Mills director TWO PENNSYLVANIA PLAZA, NEW YORK NY 10121
Ivan G Seidenberg director VERIZON COMMUNICATIONS INC, 140 WEST STREET, 29TH FLOOR, NEW YORK NY 10007
Anthony J Vinciquerra director FOX ENTERTAINMENT GROUP, INC., 10201 WEST PICO BLVD, LOS ANGELES CA 90035
Philip Gerard D'ambrosio officer: SVP, Treasurer TWO PENNSYLVANIA PLAZA, NEW YORK NY 10121
Richard D Parsons director TWO PENNSYLVANIA PLAZA, NEW YORK NY 10121
Andrew Lustgarten officer: President TWO PENN PLAZA, NEW YORK NY 10121