Hasbro Beneish M-Score Historical Data
The historical data trend for Hasbro'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.
Hasbro Beneish M-Score Chart
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Hasbro Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.57 |
-1.98 |
-2.56 |
-2.78 |
-2.98 |
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Hasbro Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-2.83 |
-2.68 |
-2.82 |
-2.98 |
-2.96 |
Competitive Comparison of Hasbro's Beneish M-Score
For the Leisure subindustry, Hasbro'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.
Hasbro's Beneish M-Score Distribution in the Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Hasbro's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Hasbro's Beneish M-Score falls into.
Hasbro 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 Hasbro 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 * 1.1311 | + | 0.528 * 1.0289 | + | 0.404 * 0.9075 | + | 0.892 * 0.8038 | + | 0.115 * 1.1729 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0011 | + | 4.679 * -0.075451 | - | 0.327 * 1.227 |
| = | -2.96 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was €582 Mil.
Revenue was 696.716 + 1181.921 + 1408.686 + 1116.83 = €4,404 Mil.
Gross Profit was 462.024 + 534.061 + 845.174 + 681.082 = €2,522 Mil.
Total Current Assets was €1,836 Mil.
Total Assets was €5,707 Mil.
Property, Plant and Equipment(Net PPE) was €461 Mil.
Depreciation, Depletion and Amortization(DDA) was €496 Mil.
Selling, General, & Admin. Expense(SGA) was €1,594 Mil.
Total Current Liabilities was €1,649 Mil.
Long-Term Debt & Capital Lease Obligation was €2,730 Mil.
Net Income was 53.544 + -973.029 + -160.321 + -216.905 = €-1,297 Mil.
Non Operating Income was -12.972 + -947.903 + -445.262 + -212.013 = €-1,618 Mil.
Cash Flow from Operations was 163.576 + 358.272 + 202.111 + 28.059 = €752 Mil.
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Total Receivables was €640 Mil.
Revenue was 934.934 + 1584.504 + 1692.659 + 1266.883 = €5,479 Mil.
Gross Profit was 604.018 + 887.549 + 963.742 + 773.45 = €3,229 Mil.
Total Current Assets was €2,372 Mil.
Total Assets was €8,335 Mil.
Property, Plant and Equipment(Net PPE) was €475 Mil.
Depreciation, Depletion and Amortization(DDA) was €736 Mil.
Selling, General, & Admin. Expense(SGA) was €1,981 Mil.
Total Current Liabilities was €1,772 Mil.
Long-Term Debt & Capital Lease Obligation was €3,439 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) |
| = | (581.9 / 4404.153) | / | (639.977 / 5478.98) |
| = | 0.132125 | / | 0.116806 |
| | = | 1.1311 |
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) |
| = | (3228.759 / 5478.98) | / | (2522.341 / 4404.153) |
| = | 0.589299 | / | 0.572719 |
| | = | 1.0289 |
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 - (1835.768 + 461.196) / 5706.76) | / | (1 - (2371.613 + 475.499) / 8334.736) |
| = | 0.597501 | / | 0.658404 |
| | = | 0.9075 |
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 |
| = | 4404.153 | / | 5478.98 |
| | = | 0.8038 |
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)) |
| = | (736.15 / (736.15 + 475.499)) | / | (495.657 / (495.657 + 461.196)) |
| = | 0.60756 | / | 0.518007 |
| | = | 1.1729 |
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) |
| = | (1594.345 / 4404.153) | / | (1981.328 / 5478.98) |
| = | 0.362009 | / | 0.361624 |
| | = | 1.0011 |
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) |
| = | ((2729.548 + 1648.824) / 5706.76) | / | ((3439.362 + 1772.172) / 8334.736) |
| = | 0.767226 | / | 0.625279 |
| | = | 1.227 |
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 |
| = | (-1296.711 - -1618.15 | - | 752.018) | / | 5706.76 |
| | = | -0.075451 |
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.
Hasbro has a M-score of -2.96 suggests that the company is unlikely to be a manipulator.
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