Peloton Interactive Beneish M-Score Historical Data
The historical data trend for Peloton Interactive'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.
Peloton Interactive Beneish M-Score Chart
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Peloton Interactive Annual Data
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Jun17 |
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Jun20 |
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Jun24 |
| Beneish M-Score |
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-2.47 |
-0.25 |
-2.44 |
-3.09 |
-3.47 |
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Peloton Interactive Quarterly Data
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Dec19 |
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Sep24 |
| Beneish M-Score |
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-3.46 |
-3.59 |
-3.67 |
-3.47 |
-3.40 |
Competitive Comparison of Peloton Interactive's Beneish M-Score
For the Leisure subindustry, Peloton Interactive'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.
Peloton Interactive's Beneish M-Score Distribution in the Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Peloton Interactive's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Peloton Interactive's Beneish M-Score falls into.
Peloton Interactive 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 Peloton Interactive 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 * 1.0328 | + | 0.528 * 0.7841 | + | 0.404 * 1.0293 | + | 0.892 * 0.9497 | + | 0.115 * 0.9653 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8901 | + | 4.679 * -0.181452 | - | 0.327 * 1.073 |
| = | -3.45 |
* 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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was €92 Mil.
Revenue was 527.896 + 597.812 + 660.284 + 681.881 = €2,468 Mil.
Gross Profit was 273.724 + 289.848 + 284.924 + 274.55 = €1,123 Mil.
Total Current Assets was €1,158 Mil.
Total Assets was €1,944 Mil.
Property, Plant and Equipment(Net PPE) was €673 Mil.
Depreciation, Depletion and Amortization(DDA) was €94 Mil.
Selling, General, & Admin. Expense(SGA) was €1,071 Mil.
Total Current Liabilities was €577 Mil.
Long-Term Debt & Capital Lease Obligation was €1,776 Mil.
Net Income was -0.811 + -28.335 + -153.916 + -178.723 = €-362 Mil.
Non Operating Income was -14.957 + 42.827 + -54.004 + -6.694 = €-33 Mil.
Cash Flow from Operations was 11.263 + 30.378 + 10.672 + -28.61 = €24 Mil.
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Total Receivables was €94 Mil.
Revenue was 558.077 + 592.751 + 699.379 + 748.309 = €2,599 Mil.
Gross Profit was 267.42 + 185.615 + 252.367 + 221.84 = €927 Mil.
Total Current Assets was €1,487 Mil.
Total Assets was €2,504 Mil.
Property, Plant and Equipment(Net PPE) was €876 Mil.
Depreciation, Depletion and Amortization(DDA) was €118 Mil.
Selling, General, & Admin. Expense(SGA) was €1,267 Mil.
Total Current Liabilities was €703 Mil.
Long-Term Debt & Capital Lease Obligation was €2,123 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) |
| = | (91.722 / 2467.873) | / | (93.513 / 2598.516) |
| = | 0.037166 | / | 0.035987 |
| | = | 1.0328 |
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) |
| = | (927.242 / 2598.516) | / | (1123.046 / 2467.873) |
| = | 0.356835 | / | 0.455066 |
| | = | 0.7841 |
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 - (1157.875 + 673.407) / 1943.547) | / | (1 - (1487.488 + 876.376) / 2504.414) |
| = | 0.057763 | / | 0.056121 |
| | = | 1.0293 |
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 |
| = | 2467.873 | / | 2598.516 |
| | = | 0.9497 |
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)) |
| = | (117.847 / (117.847 + 876.376)) | / | (94.262 / (94.262 + 673.407)) |
| = | 0.118532 | / | 0.12279 |
| | = | 0.9653 |
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) |
| = | (1070.901 / 2467.873) | / | (1266.763 / 2598.516) |
| = | 0.433937 | / | 0.487495 |
| | = | 0.8901 |
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) |
| = | ((1776.412 + 576.82) / 1943.547) | / | ((2123.242 + 702.75) / 2504.414) |
| = | 1.210792 | / | 1.128404 |
| | = | 1.073 |
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 |
| = | (-361.785 - -32.828 | - | 23.703) | / | 1943.547 |
| | = | -0.181452 |
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.
Peloton Interactive has a M-score of -3.45 suggests that the company is unlikely to be a manipulator.
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