National Beneish M Score

EYE -  USA Stock  

USD 38.48  0.09  0.23%

This module uses fundamental data of National Vision to approximate the value of its Beneish M Score. National Vision 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. Continue to National Vision Piotroski F Score and National Vision Altman Z Score analysis.

National Beneish M Score 

 
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National Vision Debt Current is projected to increase significantly based on the last few years of reporting. The past year's Debt Current was at 7.29 Million. The current year Debt Non Current is expected to grow to about 820.7 M, whereas Issuance Repayment of Debt Securities is forecasted to decline to (7.3 M).
At this time, it appears that National Vision Holdings is an unlikely manipulator. The earnings manipulation may begin if National Vision'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 National Vision 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 National Vision'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.
-2.8
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables
1.03
Asset Quality
N/A
Expense Coverage
1.0
Gross Margin Strengs
0.94
Accruals Factor
1.0
Depreciation Resistance
1.12
Net Sales Growth
1.22
Financial Leverage Condition
0.93

National Vision 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 National Vision'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
Revenues1.5 B1.2 B
Fairly Up
Increasing
Slightly volatile
Selling General and Administrative Expense638.9 M525.9 M
Fairly Up
Increasing
Slightly volatile
Net Cash Flow from Operations126.4 M97.6 M
Significantly Up
Increasing
Slightly volatile
Depreciation Amortization and Accretion67.5 M52.7 M
Significantly Up
Increasing
Slightly volatile
Total Assets1.8 B1.5 B
Fairly Up
Increasing
Slightly volatile
Property Plant and Equipment Net377.9 M256.4 M
Way Up
Increasing
Slightly volatile
Trade and Non Trade Receivables43.2 M34.4 M
Significantly Up
Increasing
Slightly volatile
Total Liabilities1.2 B1.1 B
Significantly Up
Increasing
Slightly volatile
Current Assets217.8 M147.3 M
Way Up
Increasing
Slightly volatile
Assets Non Current1.6 B1.4 B
Fairly Up
Increasing
Slightly volatile
Current Liabilities239.5 M199.7 M
Fairly Up
Increasing
Slightly volatile
Liabilities Non CurrentB929.5 M
Significantly Up
Increasing
Slightly volatile
Total Debt839.7 M745.6 M
Moderately Up
Increasing
Slightly volatile
Debt Current7.5 M7.3 M
Fairly Up
Increasing
Slightly volatile
Debt Non Current820.7 M738.3 M
Moderately Up
Increasing
Slightly volatile
Operating Income70 M64.1 M
Significantly Up
Increasing
Slightly volatile
Gross Margin0.510.545
Notably Down
Decreasing
Stable

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

About National Vision 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

719.36 MillionShare
National Vision Operating Expenses is projected to increase significantly based on the last few years of reporting. The past year's Operating Expenses was at 587.35 Million

About National Vision Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze National Vision Holdings's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of National Vision using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of National Vision Holdings 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.
National Vision Holdings, Inc., through its subsidiaries, operates as an optical retailer in the United States. National Vision Holdings, Inc. was founded in 1990 and is headquartered in Duluth, Georgia. National Vision operates under Specialty Retail classification in the United States and is traded on NASDAQ Exchange. It employs 12792 people.

Be your own money manager

Our tools can tell you how much better you can do entering a position in National Vision without increasing your portfolio risk or giving up expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate.risk-adjusted returns of your individual positions relative to your overall portfolio.

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Pair Trading with National Vision

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if National Vision position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in National Vision will appreciate offsetting losses from the drop in the long position's value.

National Vision Pair Correlation

Equities Pair Trading Analysis

Correlation analysis and pair trading evaluation for National Vision and Aarons Holdings. Pair trading can be used as a hedging technique within a particular sector or industry or even over random equities to generate better risk-adjusted return
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Continue to National Vision Piotroski F Score and National Vision Altman Z Score analysis. Note that the National Vision Holdings information on this page should be used as a complementary analysis to other National Vision'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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.

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When running National Vision Holdings price analysis, check to measure National Vision's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy National Vision is operating at the current time. Most of National Vision's value examination focuses on studying past and present price action to predict the probability of National Vision's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move National Vision's price. Additionally, you may evaluate how the addition of National Vision to your portfolios can decrease your overall portfolio volatility.
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Is National Vision'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 National Vision. If investors know National 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 National Vision listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of National Vision Holdings is measured differently than its book value, which is the value of National that is recorded on the company's balance sheet. Investors also form their own opinion of National Vision's value that differs from its market value or its book value, called intrinsic value, which is National Vision'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 National Vision's market value can be influenced by many factors that don't directly affect National Vision'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 National Vision's value and its price as these two are different measures arrived at by different means. Investors typically determine National Vision value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, National Vision'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.