Cinemark Holdings Inc
CNK Communication Services Entertainment
Cinemark Holdings Inc’s revenue for fiscal 2025 (year ended December 2025) was $3.1 billion, up 2.15% from fiscal 2024. In the quarter to June 2026, revenue grew 15.5%, EPS grew 46.3%, free cash flow grew 21.3% and total debt fell 19.5%, each against the same quarter a year earlier.
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Cinemark Holdings Inc (CNK) Beneish M-score
Cinemark Holdings Inc's Beneish M-score for fiscal 2025 is −2.59; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2025 | −2.59 | (0.13) |
| FY2024 | −2.46 | 0.10 |
| FY2023 | −2.56 | 0.21 |
| FY2022 | −2.77 | 0.51 |
| FY2021 | −3.28 | (0.58) |
| FY2019 | −2.70 | 0.14 |
| FY2018 | −2.84 | (0.27) |
| FY2017 | −2.58 | 0.27 |
| FY2016 | −2.85 | (0.46) |
| FY2015 | −2.39 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.08 | — | 0.99 | |
| Gross margin index | 1.01 | — | 0.53 | |
| Asset quality index | 1.16 | — | 0.47 | |
| Sales growth index | 1.02 | — | 0.91 | |
| Depreciation index | 0.92 | — | 0.11 | |
| SG&A index | 1.02 | — | −0.18 | |
| Total accruals to total assets | (0.06) | — | −0.27 | |
| Leverage index | 0.98 | — | −0.32 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.59 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| VSNT Versant Media Group, Inc. compare | −3.6× |
| MANU Manchester United Ltd. compare | −3.5× |
| BATRA Atlanta Braves Holdings, Inc. compare | −3.0× |
| MSGE Madison Square Garden Entertainment Corp. compare | −3.0× |
| IMAX IMAX Corporation compare | −2.9× |
| AMC AMC Entertainment Holdings, Inc. compare | −2.9× |
| CNK Cinemark Holdings Inc | −2.6× |
| BATRK Atlanta Braves Holdings, Inc. compare | −2.5× |
| SPHR Sphere Entertainment Co. compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI