Tupperware Brands Beneish M-Score Historical Data
The historical data trend for Tupperware Brands'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.
Tupperware Brands Beneish M-Score Chart
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Tupperware Brands Annual Data
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Trend |
Dec13 |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
| Beneish M-Score |
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-2.52 |
-2.91 |
-2.95 |
-2.80 |
-3.95 |
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Tupperware Brands Quarterly Data
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Dec18 |
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
| Beneish M-Score |
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-2.60 |
-3.95 |
-3.99 |
-4.36 |
-4.91 |
Competitive Comparison of Tupperware Brands's Beneish M-Score
For the Packaging & Containers subindustry, Tupperware Brands'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.
Tupperware Brands's Beneish M-Score Distribution in the Packaging & Containers Industry
For the Packaging & Containers industry and Consumer Cyclical sector, Tupperware Brands's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Tupperware Brands's Beneish M-Score falls into.
Tupperware Brands 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 Tupperware Brands 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 * 1.1794 | + | 0.528 * 1.0176 | + | 0.404 * 0.3539 | + | 0.892 * 0.8253 | + | 0.115 * 3.2684 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0314 | + | 4.679 * -0.484915 | - | 0.327 * 1.5219 |
| = | -4.91 |
* 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 (Sep23) TTM: | Last Year (Sep22) TTM: |
Total Receivables was $95 Mil.
Revenue was 259.6 + 276.3 + 292.4 + 313.6 = $1,142 Mil.
Gross Profit was 165 + 171.9 + 174.6 + 197.8 = $709 Mil.
Total Current Assets was $426 Mil.
Total Assets was $680 Mil.
Property, Plant and Equipment(Net PPE) was $173 Mil.
Depreciation, Depletion and Amortization(DDA) was $8 Mil.
Selling, General, & Admin. Expense(SGA) was $657 Mil.
Total Current Liabilities was $1,043 Mil.
Long-Term Debt & Capital Lease Obligation was $51 Mil.
Net Income was -55.8 + -29.8 + -39.5 + -244.7 = $-370 Mil.
Non Operating Income was 16.4 + -12.9 + -18.4 + -42.3 = $-57 Mil.
Cash Flow from Operations was 15.6 + -6.1 + -16.9 + 24.3 = $17 Mil.
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Total Receivables was $98 Mil.
Revenue was 303.6 + 339.7 + 347.1 + 393.2 = $1,384 Mil.
Gross Profit was 196.2 + 218.1 + 222 + 238.3 = $875 Mil.
Total Current Assets was $483 Mil.
Total Assets was $1,054 Mil.
Property, Plant and Equipment(Net PPE) was $220 Mil.
Depreciation, Depletion and Amortization(DDA) was $39 Mil.
Selling, General, & Admin. Expense(SGA) was $772 Mil.
Total Current Liabilities was $375 Mil.
Long-Term Debt & Capital Lease Obligation was $740 Mil.
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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) |
| = | (94.9 / 1141.9) | / | (97.5 / 1383.6) |
| = | 0.083107 | / | 0.070468 |
| | = | 1.1794 |
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) |
| = | (874.6 / 1383.6) | / | (709.3 / 1141.9) |
| = | 0.632119 | / | 0.621158 |
| | = | 1.0176 |
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 - (426.4 + 173) / 679.5) | / | (1 - (482.9 + 219.8) / 1053.6) |
| = | 0.117881 | / | 0.333049 |
| | = | 0.3539 |
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 |
| = | 1141.9 | / | 1383.6 |
| | = | 0.8253 |
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)) |
| = | (39.2 / (39.2 + 219.8)) | / | (8.4 / (8.4 + 173)) |
| = | 0.151351 | / | 0.046307 |
| | = | 3.2684 |
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) |
| = | (657.2 / 1141.9) | / | (772.1 / 1383.6) |
| = | 0.575532 | / | 0.558037 |
| | = | 1.0314 |
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) |
| = | ((50.5 + 1043.4) / 679.5) | / | ((739.7 + 374.8) / 1053.6) |
| = | 1.60986 | / | 1.057802 |
| | = | 1.5219 |
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 |
| = | (-369.8 - -57.2 | - | 16.9) | / | 679.5 |
| | = | -0.484915 |
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.
Tupperware Brands has a M-score of -4.91 suggests that the company is unlikely to be a manipulator.
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