Marcus Beneish M Score

MCS
 Stock
  

USD 16.24  0.11  0.68%   

This module uses fundamental data of Marcus Corp to approximate the value of its Beneish M Score. Marcus Corp 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. Additionally, see Marcus Corp Piotroski F Score and Marcus Corp Altman Z Score analysis.
  
Marcus Corp Debt Current is relatively stable at the moment as compared to the past year. Marcus Corp reported last year Debt Current of 138.16 Million. As of 11/30/2022, Issuance Repayment of Debt Securities is likely to grow to about 88.7 M, while Total Debt is likely to drop slightly above 546 M. Marcus Corp Return on Investment is relatively stable at the moment as compared to the past year. Marcus Corp reported last year Return on Investment of 6.99. As of 11/30/2022, Cash Flow Per Share is likely to grow to 0.15, while Cash and Equivalents Turnover is likely to drop 9.93.
At this time, it appears that Marcus Corp is an unlikely manipulator. The earnings manipulation may begin if Marcus Corp'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 Marcus Corp 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 Marcus Corp'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.
-2.52
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables1.16Focus
Asset Quality0.96Focus
Expense Coverage1.33Focus
Gross Margin Strengs1.25Focus
Accruals Factor1.33Focus
Depreciation Resistance1.05Focus
Net Sales Growth0.88Focus
Financial Leverage Condition0.97Focus

Marcus Corp 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 Marcus Corp'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 Expense83.7 M71.4 M
Fairly Up
Decreasing
Slightly volatile
Revenues576.7 M652.5 M
Fairly Down
Increasing
Slightly volatile
Trade and Non Trade Receivables7.5 M7.3 M
Fairly Up
Decreasing
Slightly volatile
Property Plant and Equipment Net1.1 B1.2 B
Significantly Down
Decreasing
Stable
Operating Income52.5 M43.6 M
Fairly Up
Increasing
Very volatile
Net Cash Flow from Operations79 M73.3 M
Significantly Up
Increasing
Slightly volatile
Liabilities Non Current557.6 M618.8 M
Moderately Down
Increasing
Very volatile
Current Liabilities117.8 M119.2 M
Fairly Down
Increasing
Slightly volatile
Total Liabilities208.9 M166.3 M
Significantly Up
Decreasing
Slightly volatile
Investments Non Current2.5 M1.9 M
Significantly Up
Decreasing
Slightly volatile
Investments2.5 M1.9 M
Significantly Up
Decreasing
Slightly volatile
Gross Margin20.7416.64
Fairly Up
Decreasing
Slightly volatile
Depreciation Amortization and Accretion75.2 M86.3 M
Fairly Down
Increasing
Slightly volatile
Debt Non Current448.3 M509.8 M
Fairly Down
Increasing
Very volatile
Debt Current149.1 M138.2 M
Significantly Up
Increasing
Slightly volatile
Total Debt546 M648 M
Fairly Down
Increasing
Slightly volatile
Assets Non Current1.3 B1.4 B
Significantly Down
Decreasing
Stable
Current Assets674.8 M697 M
Sufficiently Down
Increasing
Slightly volatile
Total Assets787.1 M822.2 M
Sufficiently Down
Increasing
Slightly volatile

Marcus Corp 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 Marcus Corp's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Marcus Corp in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find Marcus Corp's degree of accounting gimmicks and manipulations.

About Marcus Corp 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.

Operating Expenses

253.52 Million

Marcus Corp Operating Expenses is relatively stable at the moment as compared to the past year. Marcus Corp reported last year Operating Expenses of 264 Million

Marcus Corp 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 Marcus Corp. 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.
201720182019202020212022 (projected)
Revenues635.9 M660.9 M671.6 M725 M652.5 M576.67 M
Total Assets919.8 M915 M995.2 M913.6 M822.24 M787.15 M
Current Assets812.3 M810.6 M896.9 M774.5 M697.05 M674.83 M
Total Liabilities222.5 M170.3 M233.1 M144.6 M166.29 M208.9 M
Current Liabilities167.7 M159.5 M178.3 M132.4 M119.16 M117.83 M
Operating Income95.1 M94.2 M63.5 M48.4 M43.56 M52.48 M
Gross Margin21.4519.7815.5714.4716.6420.74

About Marcus Corp Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Marcus Corp's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Marcus Corp using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Marcus Corp 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.
The Marcus Corporation, together with its subsidiaries, owns and operates movie theatres, and hotels and resorts in the United States. The company was founded in 1935 and is headquartered in Milwaukee, Wisconsin. Marcus Corp operates under Entertainment classification in the United States and is traded on New York Stock Exchange. It employs 2925 people.

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Additionally, see Marcus Corp Piotroski F Score and Marcus Corp Altman Z Score analysis. Note that the Marcus Corp information on this page should be used as a complementary analysis to other Marcus Corp's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.

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Is Marcus Corp'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 Marcus Corp. If investors know Marcus 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 Marcus Corp 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 YOY
0.45
Market Capitalization
510.7 M
Quarterly Revenue Growth YOY
0.24
Return On Assets
0.0134
Return On Equity
0.0084
The market value of Marcus Corp is measured differently than its book value, which is the value of Marcus that is recorded on the company's balance sheet. Investors also form their own opinion of Marcus Corp's value that differs from its market value or its book value, called intrinsic value, which is Marcus Corp'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 Marcus Corp's market value can be influenced by many factors that don't directly affect Marcus Corp'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 Marcus Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine Marcus Corp value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Marcus Corp'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.