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Prestige Consumer Healthcare earnings quality score

How much of the reported profit is backed by cash, and how many markers of managed earnings the filings show

Score50 / 100 · grade C · rank 886 of 1027

Prestige Consumer Healthcare (PBH) scores 50 of 100 for earnings quality, grade C: rank 886 of 1027 companies and 109 of 126 in health. It loses the most points on accruals of -1.9% of assets, higher than 73% of companies, Montier C-score 4 of 6 checks failed, adjusted earnings 29% below GAAP. It earns full or near-full marks for Beneish M-score -2.52: clean (below −2.22), Dechow F-score 0.67 (normal).

What earned and lost points

ComponentWhat the filings showPointsOf
Accrualsaccruals of -1.9% of assets, higher than 73% of companies621
Beneish M-scoreBeneish M-score -2.52: clean (below −2.22)1616
Dechow F-scoreDechow F-score 0.67 (normal)1616
Montier C-scoreMontier C-score 4 of 6 checks failed516
Discretionary accrualsdiscretionary accruals of +8.5% of assets (modified Jones), larger than most210
Piotroski F-scorePiotroski F-score 5 of 9610
Non-GAAP gapadjusted earnings 29% below GAAP010
PBH: share of the available points, by componentPBH: share of the available points, by componentAccruals27%Discretionary accruals15%Beneish M-score100%Dechow F-score100%Montier C-score34%Piotroski F-score55%Non-GAAP gap4%

How the score is built

Eight published measures, each scored against the whole universe or on its own scale and weighted: accruals 20, discretionary accruals 10, Beneish M 15, Dechow F 15, Montier C 15, Piotroski F 10, the non-GAAP gap 10, smoothness 5. A measure that cannot be computed (Beneish for a bank, say) drops out and the rest is rescaled, so every company is scored on what applies to it.

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Computed from the companies’ own XBRL filings (latest fiscal year) by published formulas; a statistical screen, not an audit or an accusation. A low score means the reported profit shows more of the markers of managed or low-quality earnings than its peers. Not investment advice.