Healthcare Beneish M Score

HR Stock  USD 19.71  0.02  0.10%   
This module uses fundamental data of Healthcare Realty to approximate the value of its Beneish M Score. Healthcare Realty M Score tells investors if the company management is likely to be manipulating earnings. The score is calculated using eight financial indicators that are adjusted by a specific multiplier. Please note, the M Score is a probabilistic model and cannot detect companies that manipulate their earnings with 100% accuracy. Check out Healthcare Realty Piotroski F Score and Healthcare Realty Altman Z Score analysis.
Healthcare Realty Total Debt is relatively stable at the moment as compared to the past year. Healthcare Realty reported last year Total Debt of 5.7 Billion. As of 06/10/2023, Long Term Debt to Equity is likely to grow to 0.72, while Issuance Repayment of Debt Securities is likely to drop (469.3 M). Healthcare Realty Current Ratio is relatively stable at the moment as compared to the past year. Healthcare Realty reported last year Current Ratio of 0.25. As of 06/10/2023, Debt to Equity Ratio is likely to grow to 0.85, while Accounts Payable Turnover is likely to drop 6.55.
At this time, it appears that Healthcare Realty Trust is an unlikely manipulator. The earnings manipulation may begin if Healthcare Realty's top management creates an artificial sense of financial success, forcing the stock price to be traded at a high price-earnings multiple than it should be. In general, excessive earnings management by Healthcare Realty executives may lead to removing some of the operating profits from subsequent periods to inflate earnings in the following periods. This way, the manipulation of Healthcare Realty's earnings can lead to misrepresentations of actual financial condition, taking the otherwise loyal stakeholders on to the path of questionable ethical practices and plain fraud.
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables1.02Focus
Asset Quality1.01Focus
Expense Coverage1.06Focus
Gross Margin Strengs0.98Focus
Accruals Factor1.06Focus
Depreciation Resistance1.0Focus
Net Sales Growth0.86Focus
Financial Leverage Condition1.0Focus

Healthcare Realty Beneish M-Score Indicator Trends

The cure to earnings manipulation is the transparency of financial reporting. It will typically remove the temptation of the top executives to inflate earnings (i.e., to promote the idea of 'winning at any cost'). Because a healthy internal audit department can enhance transparency, the board should promote the auditors' access to all the record-keeping systems across the enterprise. For example, if Healthcare Realty's auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back.
Current ValueLast YearChange From Last Year 10 Year Trend
Selling General and Administrative Expense47.7 M52.7 M
Moderately Down
Slightly volatile
Revenues797.5 M932.6 M
Fairly Down
Slightly volatile
Trade and Non Trade Receivables253 M289.5 M
Fairly Down
Slightly volatile
Property Plant and Equipment Net13.8 B12.7 B
Significantly Up
Slightly volatile
Operating Income(24.5 M)(23.8 M)
Fairly Down
Very volatile
Net Cash Flow from Operations290.3 M272.7 M
Notably Up
Slightly volatile
Current Liabilities263.3 M244 M
Significantly Up
Slightly volatile
Total Liabilities6.7 B6.2 B
Significantly Up
Slightly volatile
Investments353.1 M327.2 M
Significantly Up
Slightly volatile
Gross Margin0.620.631
Fairly Down
Slightly volatile
Depreciation Amortization and Accretion519.1 M481.2 M
Significantly Up
Slightly volatile
Total Debt6.2 B5.7 B
Significantly Up
Slightly volatile
Current Assets60.1 M61 M
Fairly Down
Pretty Stable
Total Assets14.9 B13.8 B
Significantly Up
Slightly volatile

Healthcare Realty Trust Beneish M-Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to detect the potential manipulation of earnings. Understanding the correlation between Healthcare Realty's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Healthcare Realty in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find Healthcare Realty's degree of accounting gimmicks and manipulations.

About Healthcare Realty Beneish M Score

M-Score is one of many grading techniques for value stocks. It was developed by Professor M. Daniel Beneish of the Kelley School of Business at Indiana University and published in 1999 under the paper titled The Detection of Earnings Manipulation. The Beneish score is a multi-factor model that utilizes financial identifiers to compile eight variables used to classify whether a company has manipulated its reported earnings. The variables are built from the officially filed financial statements to create a final score call 'M Score.' The score helps to identify companies that are likely to manipulate their profits if they show deteriorating gross margins, operating expenses, and leverage against growing revenue.

Cost of Revenue

283.72 Million

Healthcare Realty Cost of Revenue is relatively stable at the moment as compared to the past year. Healthcare Realty reported last year Cost of Revenue of 344.04 Million

Healthcare Realty Earnings Manipulation Drivers

Although earnings manipulation is typically not the result of intentional misconduct by the c-level executives, it is still a widespread practice by the senior management of public companies such as Healthcare Realty. It is usually done by a series of misrepresentations of various accounting rules and operating activities across multiple financial cycles. The best way to spot the manipulation is to examine the historical financial statement to find inconsistencies in earning reports to find trends in assets or liabilities that are not sustainable in the future.
201820192020202120222023 (projected)
Trade and Non Trade Receivables207.86 M223.41 M237.02 M251.73 M289.49 M252.99 M
Revenues696.43 M692.04 M499.63 M534.82 M932.64 M797.55 M
Total Assets6.19 B6.64 B6.79 B4.26 B13.85 B14.94 B
Current Assets133.53 M37.62 M118.77 M57.07 M60.96 M60.13 M
Property Plant and Equipment Net5.67 B6.29 B6.35 B3.89 B12.75 B13.76 B
Depreciation Amortization and Accretion271.44 M280.97 M196.31 M208 M481.15 M519.14 M
Selling General and Administrative Expense35.2 M41.36 M30.7 M34.15 M52.73 M47.7 M
Total Liabilities2.85 B3.21 B3.56 B2.07 B6.17 B6.65 B
Current Liabilities185.07 M171.7 M200.36 M198.08 M244.03 M263.3 M
Total Debt2.54 B2.95 B3.23 B1.92 B5.7 B6.16 B
Operating Income151.09 M146.47 M79.42 M81.75 M(23.83 M)(24.45 M)
Net Cash Flow from Operations337.4 M340.39 M470.09 M232.63 M272.75 M290.32 M
Investments67.17 M65.89 M64.36 M161.94 M327.25 M353.08 M

About Healthcare Realty Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Healthcare Realty Trust's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Healthcare Realty using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Healthcare Realty Trust based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Healthcare Realty Trust is a real estate investment trust that integrates owning, managing, financing and developing income-producing real estate properties associated primarily with the delivery of outpatient healthcare services throughout the United States. The Company provided leasing and property management services to 11.9 million square feet nationwide. Healthcare Realty operates under REITHealthcare Facilities classification in the United States and is traded on New York Stock Exchange. It employs 338 people.

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Check out Healthcare Realty Piotroski F Score and Healthcare Realty Altman Z Score analysis. You can also try the Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..

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Is Healthcare Realty's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Healthcare Realty. If investors know Healthcare will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Healthcare Realty listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
Dividend Share
Earnings Share
Revenue Per Share
Quarterly Revenue Growth
The market value of Healthcare Realty Trust is measured differently than its book value, which is the value of Healthcare that is recorded on the company's balance sheet. Investors also form their own opinion of Healthcare Realty's value that differs from its market value or its book value, called intrinsic value, which is Healthcare Realty's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Healthcare Realty's market value can be influenced by many factors that don't directly affect Healthcare Realty's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Healthcare Realty's value and its price as these two are different measures arrived at by different means. Investors typically determine if Healthcare Realty is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Healthcare Realty's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.