Privia Health Group Beneish M-Score Historical Data
The historical data trend for Privia Health Group'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.
Privia Health Group Beneish M-Score Chart
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Privia Health Group Annual Data
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Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
-4.11 |
-2.49 |
-2.34 |
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Privia Health Group Quarterly Data
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Dec18 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
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Mar22 |
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Mar23 |
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Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-2.24 |
-2.10 |
-2.14 |
-2.34 |
-2.46 |
Competitive Comparison of Privia Health Group's Beneish M-Score
For the Health Information Services subindustry, Privia Health Group'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.
Privia Health Group's Beneish M-Score Distribution in the Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Privia Health Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Privia Health Group's Beneish M-Score falls into.
Privia Health Group 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 Privia Health Group 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 * 1.124 | + | 0.528 * 1.0403 | + | 0.404 * 0.9082 | + | 0.892 * 1.1802 | + | 0.115 * 0.6703 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8563 | + | 4.679 * -0.040998 | - | 0.327 * 1.0917 |
| = | -2.46 |
* 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 $346 Mil.
Revenue was 415.243 + 440.828 + 417.282 + 413.351 = $1,687 Mil.
Gross Profit was 40.85 + 39.041 + 41.736 + 41.433 = $163 Mil.
Total Current Assets was $728 Mil.
Total Assets was $1,032 Mil.
Property, Plant and Equipment(Net PPE) was $8 Mil.
Depreciation, Depletion and Amortization(DDA) was $7 Mil.
Selling, General, & Admin. Expense(SGA) was $141 Mil.
Total Current Liabilities was $404 Mil.
Long-Term Debt & Capital Lease Obligation was $5 Mil.
Net Income was 2.984 + 2.838 + 5.643 + 7.274 = $19 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was -33.137 + 64.101 + 22.461 + 7.607 = $61 Mil.
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Total Receivables was $261 Mil.
Revenue was 386.276 + 364.424 + 342.899 + 335.536 = $1,429 Mil.
Gross Profit was 39.291 + 36.713 + 33.886 + 33.841 = $144 Mil.
Total Current Assets was $589 Mil.
Total Assets was $875 Mil.
Property, Plant and Equipment(Net PPE) was $11 Mil.
Depreciation, Depletion and Amortization(DDA) was $5 Mil.
Selling, General, & Admin. Expense(SGA) was $140 Mil.
Total Current Liabilities was $310 Mil.
Long-Term Debt & Capital Lease Obligation was $8 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) |
| = | (346.088 / 1686.704) | / | (260.881 / 1429.135) |
| = | 0.205186 | / | 0.182545 |
| | = | 1.124 |
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) |
| = | (143.731 / 1429.135) | / | (163.06 / 1686.704) |
| = | 0.100572 | / | 0.096674 |
| | = | 1.0403 |
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 - (728.14 + 8.197) / 1031.586) | / | (1 - (588.777 + 10.713) / 875.343) |
| = | 0.286209 | / | 0.315137 |
| | = | 0.9082 |
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 |
| = | 1686.704 | / | 1429.135 |
| | = | 1.1802 |
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)) |
| = | (4.793 / (4.793 + 10.713)) | / | (7.014 / (7.014 + 8.197)) |
| = | 0.309106 | / | 0.461114 |
| | = | 0.6703 |
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) |
| = | (141.288 / 1686.704) | / | (139.799 / 1429.135) |
| = | 0.083766 | / | 0.097821 |
| | = | 0.8563 |
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) |
| = | ((4.651 + 403.798) / 1031.586) | / | ((7.788 + 309.689) / 875.343) |
| = | 0.395943 | / | 0.362689 |
| | = | 1.0917 |
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 |
| = | (18.739 - 0 | - | 61.032) | / | 1031.586 |
| | = | -0.040998 |
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.
Privia Health Group has a M-score of -2.46 suggests that the company is unlikely to be a manipulator.
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