Darden Restaurants Beneish M-Score Historical Data
The historical data trend for Darden Restaurants'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.
Darden Restaurants Beneish M-Score Chart
|
Darden Restaurants Annual Data
|
|
Trend |
May14 |
May15 |
May16 |
May17 |
May18 |
May19 |
May20 |
May21 |
May22 |
May23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.87 |
-3.19 |
-2.38 |
-2.44 |
-2.62 |
|
Darden Restaurants 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 |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.58 |
-2.62 |
-2.48 |
-2.59 |
-2.48 |
Competitive Comparison of Darden Restaurants's Beneish M-Score
For the Restaurants subindustry, Darden Restaurants'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.
Darden Restaurants's Beneish M-Score Distribution in the Restaurants Industry
For the Restaurants industry and Consumer Cyclical sector, Darden Restaurants's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Darden Restaurants's Beneish M-Score falls into.
Darden Restaurants 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 Darden Restaurants 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 * 1.155 | + | 0.528 * 0.9302 | + | 0.404 * 1.1973 | + | 0.892 * 1.0853 | + | 0.115 * 0.9487 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1784 | + | 4.679 * -0.048388 | - | 0.327 * 1.0018 |
| = | -2.48 |
* 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 $72 Mil.
Revenue was 2974.8 + 2727.3 + 2730.6 + 2769 = $11,202 Mil.
Gross Profit was 645.6 + 550.2 + 557.7 + 602.5 = $2,356 Mil.
Total Current Assets was $876 Mil.
Total Assets was $11,358 Mil.
Property, Plant and Equipment(Net PPE) was $7,596 Mil.
Depreciation, Depletion and Amortization(DDA) was $437 Mil.
Selling, General, & Admin. Expense(SGA) was $613 Mil.
Total Current Liabilities was $2,272 Mil.
Long-Term Debt & Capital Lease Obligation was $5,147 Mil.
Net Income was 312.9 + 212.1 + 194.5 + 315.1 = $1,035 Mil.
Non Operating Income was -0.4 + -7.5 + -3.1 + -1.8 = $-13 Mil.
Cash Flow from Operations was 576.5 + 340.8 + 269.1 + 410.6 = $1,597 Mil.
|
Total Receivables was $58 Mil.
Revenue was 2786.2 + 2486.5 + 2446.1 + 2602.9 = $10,322 Mil.
Gross Profit was 584.7 + 442.7 + 453.5 + 538.4 = $2,019 Mil.
Total Current Assets was $891 Mil.
Total Assets was $10,075 Mil.
Property, Plant and Equipment(Net PPE) was $7,047 Mil.
Depreciation, Depletion and Amortization(DDA) was $384 Mil.
Selling, General, & Admin. Expense(SGA) was $479 Mil.
Total Current Liabilities was $1,950 Mil.
Long-Term Debt & Capital Lease Obligation was $4,619 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) |
| = | (72.2 / 11201.7) | / | (57.6 / 10321.7) |
| = | 0.006445 | / | 0.00558 |
| | = | 1.155 |
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) |
| = | (2019.3 / 10321.7) | / | (2356 / 11201.7) |
| = | 0.195636 | / | 0.210325 |
| | = | 0.9302 |
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 - (876.4 + 7596.2) / 11358.2) | / | (1 - (890.9 + 7046.6) / 10075.4) |
| = | 0.254054 | / | 0.21219 |
| | = | 1.1973 |
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 |
| = | 11201.7 | / | 10321.7 |
| | = | 1.0853 |
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)) |
| = | (383.7 / (383.7 + 7046.6)) | / | (437.3 / (437.3 + 7596.2)) |
| = | 0.05164 | / | 0.054435 |
| | = | 0.9487 |
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) |
| = | (612.6 / 11201.7) | / | (479 / 10321.7) |
| = | 0.054688 | / | 0.046407 |
| | = | 1.1784 |
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) |
| = | ((5147.2 + 2272.4) / 11358.2) | / | ((4619.4 + 1950.4) / 10075.4) |
| = | 0.653237 | / | 0.652063 |
| | = | 1.0018 |
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 |
| = | (1034.6 - -12.8 | - | 1597) | / | 11358.2 |
| | = | -0.048388 |
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.
Darden Restaurants has a M-score of -2.48 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
DRI has been successfully added to your