Cintas Beneish M-Score Historical Data
The historical data trend for Cintas'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.
|
Cintas Annual Data
|
|
Trend |
May14 |
May15 |
May16 |
May17 |
May18 |
May19 |
May20 |
May21 |
May22 |
May23 |
| Beneish M-Score |
|
|
|
|
|
|
-2.57 |
-2.77 |
-2.58 |
-2.56 |
-2.51 |
|
Cintas Quarterly Data
|
|
May19 |
Aug19 |
Nov19 |
Feb20 |
May20 |
Aug20 |
Nov20 |
Feb21 |
May21 |
Aug21 |
Nov21 |
Feb22 |
May22 |
Aug22 |
Nov22 |
Feb23 |
May23 |
Aug23 |
Nov23 |
Feb24 |
| Beneish M-Score |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.58 |
-2.51 |
-2.50 |
-2.53 |
-2.60 |
Competitive Comparison
For the Specialty Business Services subindustry, Cintas'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.
Cintas Beneish M-Score Distribution
For the Business Services industry and Industrials sector, Cintas's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Cintas's Beneish M-Score falls into.
Cintas 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 Cintas 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 * 1.016 | + | 0.528 * 0.9666 | + | 0.404 * 0.9983 | + | 0.892 * 1.0934 | + | 0.115 * 1.0276 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0235 | + | 4.679 * -0.048657 | - | 0.327 * 0.9151 |
| = | -2.60 |
* 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 (Feb24) TTM: | Last Year (Feb23) TTM: |
Total Receivables was $1,262 Mil.
Revenue was 2406.173 + 2377.177 + 2342.33 + 2284.471 = $9,410 Mil.
Gross Profit was 1187.848 + 1141.548 + 1141.571 + 1088.778 = $4,560 Mil.
Total Current Assets was $3,031 Mil.
Total Assets was $8,979 Mil.
Property, Plant and Equipment(Net PPE) was $1,692 Mil.
Depreciation, Depletion and Amortization(DDA) was $433 Mil.
Selling, General, & Admin. Expense(SGA) was $2,568 Mil.
Total Current Liabilities was $1,274 Mil.
Long-Term Debt & Capital Lease Obligation was $2,621 Mil.
Net Income was 397.579 + 374.613 + 385.085 + 346.201 = $1,503 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 657.11 + 392.686 + 336.945 + 553.623 = $1,940 Mil.
|
Total Receivables was $1,136 Mil.
Revenue was 2189.986 + 2174.858 + 2166.454 + 2074.686 = $8,606 Mil.
Gross Profit was 1034.031 + 1022.447 + 1028.112 + 946.195 = $4,031 Mil.
Total Current Assets was $2,910 Mil.
Total Assets was $8,466 Mil.
Property, Plant and Equipment(Net PPE) was $1,537 Mil.
Depreciation, Depletion and Amortization(DDA) was $406 Mil.
Selling, General, & Admin. Expense(SGA) was $2,294 Mil.
Total Current Liabilities was $1,388 Mil.
Long-Term Debt & Capital Lease Obligation was $2,625 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) |
| = | (1262.077 / 9410.151) | / | (1136.086 / 8605.984) |
| = | 0.134119 | / | 0.132011 |
| | = | 1.016 |
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) |
| = | (4030.785 / 8605.984) | / | (4559.745 / 9410.151) |
| = | 0.46837 | / | 0.484556 |
| | = | 0.9666 |
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 - (3030.996 + 1692.324) / 8978.875) | / | (1 - (2910.156 + 1536.705) / 8466.001) |
| = | 0.473952 | / | 0.474739 |
| | = | 0.9983 |
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 |
| = | 9410.151 | / | 8605.984 |
| | = | 1.0934 |
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)) |
| = | (406.46 / (406.46 + 1536.705)) | / | (432.532 / (432.532 + 1692.324)) |
| = | 0.209174 | / | 0.203558 |
| | = | 1.0276 |
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) |
| = | (2567.908 / 9410.151) | / | (2294.483 / 8605.984) |
| = | 0.272887 | / | 0.266615 |
| | = | 1.0235 |
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) |
| = | ((2620.968 + 1273.895) / 8978.875) | / | ((2625.059 + 1388.261) / 8466.001) |
| = | 0.433781 | / | 0.474051 |
| | = | 0.9151 |
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 |
| = | (1503.478 - 0 | - | 1940.364) | / | 8978.875 |
| | = | -0.048657 |
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.
Cintas has a M-score of -2.60 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
CTAS has been successfully added to your