CTXS has been successfully added to your Stock Email Alerts list.
You can manage your stock email alerts here.
CTXS has been removed from your Stock Email Alerts list.
Please enter Portfolio Name for new portfolio.
The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
The historical rank and industry rank for Citrix Systems's Beneish M-Score or its related term are showing as below:
During the past 13 years, the highest Beneish M-Score of Citrix Systems was 0.00. The lowest was 0.00. And the median was 0.00.
The historical data trend for Citrix Systems's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Citrix Systems Annual Data | |||||||||||||||||||||
Trend | Dec12 | Dec13 | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | |||||||||||
Beneish M-Score | Get a 7-Day Free Trial | -3.27 | -2.90 | -2.46 | -2.85 | -2.51 |
Citrix Systems Quarterly Data | ||||||||||||||||||||
Sep17 | Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | |
Beneish M-Score | Get a 7-Day Free Trial | -2.41 | -2.63 | -2.51 | -2.69 | -2.67 |
For the Software - Application subindustry, Citrix Systems's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Software industry and Technology sector, Citrix Systems's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Citrix Systems's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Citrix Systems for today is based on a combination of the following eight different indices:
M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
= | -4.84 | + | 0.92 * 0.9998 | + | 0.528 * 1.0096 | + | 0.404 * 0.953 | + | 0.892 * 1.0472 | + | 0.115 * 0.6021 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 0.9648 | + | 4.679 * -0.042399 | - | 0.327 * 0.9435 | |||||||
= | -2.67 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Jun22) TTM: | Last Year (Jun21) TTM: |
Total Receivables was $697 Mil. Revenue was 859.522 + 825.338 + 850.848 + 778.445 = $3,314 Mil. Gross Profit was 703.6 + 683.442 + 677.365 + 631.626 = $2,696 Mil. Total Current Assets was $1,898 Mil. Total Assets was $7,011 Mil. Property, Plant and Equipment(Net PPE) was $340 Mil. Depreciation, Depletion and Amortization(DDA) was $283 Mil. Selling, General, & Admin. Expense(SGA) was $1,582 Mil. Total Current Liabilities was $2,307 Mil. Long-Term Debt & Capital Lease Obligation was $3,367 Mil. Net Income was 115.457 + 60.232 + 102.898 + 51.787 = $330 Mil. Non Operating Income was -12.84 + -19.155 + -99.716 + -2.05 = $-134 Mil. Cash Flow from Operations was 171.482 + 274.909 + 158.866 + 156.145 = $761 Mil. |
Total Receivables was $666 Mil. Revenue was 812.111 + 775.766 + 809.656 + 767.17 = $3,165 Mil. Gross Profit was 650.805 + 632.297 + 676.213 + 639.884 = $2,599 Mil. Total Current Assets was $1,500 Mil. Total Assets was $6,714 Mil. Property, Plant and Equipment(Net PPE) was $418 Mil. Depreciation, Depletion and Amortization(DDA) was $158 Mil. Selling, General, & Admin. Expense(SGA) was $1,566 Mil. Total Current Liabilities was $2,092 Mil. Long-Term Debt & Capital Lease Obligation was $3,667 Mil. |
1. DSRI = Days Sales in Receivables Index
Measured as the ratio of Revenue in Total Receivables in year t to year t-1.
A large increase in DSR could be indicative of revenue inflation.
DSRI | = | (Receivables_t / Revenue_t) | / | (Receivables_t-1 / Revenue_t-1) |
= | (696.836 / 3314.153) | / | (665.519 / 3164.703) | |
= | 0.210261 | / | 0.210294 | |
= | 0.9998 |
2. GMI = Gross Margin Index
Measured as the ratio of gross margin in year t-1 to gross margin in year t.
Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.
GMI | = | GrossMargin_t-1 | / | GrossMargin_t |
= | (GrossProfit_t-1 / Revenue_t-1) | / | (GrossProfit_t / Revenue_t) | |
= | (2599.199 / 3164.703) | / | (2696.033 / 3314.153) | |
= | 0.821309 | / | 0.813491 | |
= | 1.0096 |
3. AQI = Asset Quality Index
AQI is the ratio of asset quality in year t to year t-1.
Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.
AQI | = | (1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) | / | (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1) |
= | (1 - (1897.835 + 339.72) / 7011.099) | / | (1 - (1499.618 + 417.656) / 6714.453) | |
= | 0.680855 | / | 0.714456 | |
= | 0.953 |
4. SGI = Sales Growth Index
Ratio of Revenue in year t to sales in year t-1.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
SGI | = | Sales_t | / | Sales_t-1 |
= | Revenue_t | / | Revenue_t-1 | |
= | 3314.153 | / | 3164.703 | |
= | 1.0472 |
5. DEPI = Depreciation Index
Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI | = | (Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) | / | (Depreciation_t / (Depreciaton_t + PPE_t)) |
= | (157.5 / (157.5 + 417.656)) | / | (283.43 / (283.43 + 339.72)) | |
= | 0.273839 | / | 0.454834 | |
= | 0.6021 |
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.
SGA expenses index > 1 means that the company is becoming less efficient in generate sales.
SGAI | = | (SGA_t / Sales_t) | / | (SGA_t-1 /Sales_t-1) |
= | (1582.197 / 3314.153) | / | (1566.03 / 3164.703) | |
= | 0.477406 | / | 0.494843 | |
= | 0.9648 |
7. LVGI = Leverage Index
The ratio of total debt to Total Assets in year t relative to yeat t-1.
An LVGI > 1 indicates an increase in leverage
LVGI | = | ((LTD_t + CurrentLiabilities_t) / TotalAssets_t) | / | ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1) |
= | ((3366.905 + 2307.273) / 7011.099) | / | ((3667.07 + 2092.374) / 6714.453) | |
= | 0.809314 | / | 0.857768 | |
= | 0.9435 |
8. TATA = Total Accruals to Total Assets
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA | = | (IncomefromContinuingOperations_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
= | (NetIncome_t - NonOperatingIncome_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t | |
= | (330.374 - -133.761 | - | 761.402) | / | 7011.099 | |
= | -0.042399 |
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Citrix Systems has a M-score of -2.67 suggests that the company is unlikely to be a manipulator.
Thank you for viewing the detailed overview of Citrix Systems's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Jason Alexander Smith | officer: EVP & Chief Financial Officer | C/O CITRIX SYSTEMS, INC., 851 WEST CYPRESS CREEK ROAD, FORT LAUDERDALE FL 33309 |
Michael Arenth | officer: EVP, SaaS Strategy | C/O CITRIX SYSTEMS, INC., 851 WEST CYPRESS CREEK ROAD, FORT LAUDERDALE FL 33309 |
David J Henshall | officer: Senior Vice President and CFO | 18880 HOMESTEAD ROAD, CUPERTINO CA 95014 |
Sridhar Mullapudi | officer: EVP, Product Management | C/O CITRIX SYSTEMS, INC., 851 WEST CYPRESS CREEK ROAD, FORT LAUDERDALE FL 33309 |
Arlen Shenkman | officer: EVP & CFO | C/O CITRIX SYSTEMS, INC., 851 WEST CYRESS CREEK ROAD, FORT LAUDERDALE FL 33309 |
Mark J Ferrer | officer: EVP, Chief Revenue Officer | 45025 AVIATION DR, STE 300, DULLES VA 20166 |
Mark J. Schmitz | officer: EVP & Chief Operating Officer | C/O CITRIX SYSTEMS, INC., 851 WEST CYPRESS CREEK ROAD, FORT LAUDERDALE FL 33309 |
Timothy A. Minahan | officer: CMO | 13960 HAYSTACK LANE, MILTON GA 30004 |
Hector Lima | officer: EVP, Customer Experience | C/O CITRIX SYSTEMS, INC., 851 WEST CYPRESS CREEK ROAD, FORT LAUDERDALE FL 33309 |
Antonio G. Gomes | officer: SVP & General Counsel | 345 HARVARD STREET, UNIT 2AB, CAMBRIDGE MA 02138 |
Paul J. Hough | officer: SVP & Chief Product Officer | 851 WEST CYPRESS CREEK ROAD, FORT LAUDERDALE FL 33309 |
Jessica Soisson | officer: VP & Corporate Controller | 9836 EQUUS CIRCLE, BOYNTON BEACH FL 33472 |
W. Joseph Kim | officer: EVP & Chief Technology Officer | 7171, AUSTIN TX 78735-6140 |
Donna Nappen Kimmel | officer: SVP & Chief People Officer | 529 PLEASANT STREET, MS B-7, ATTLEBORO MA 02703 |
Knowling Robert E Jr | director | C/O HEWLETT-PACKARD CO, 3000 HANOVER STREET, PALO ALTO CA 94304 |
From GuruFocus
By Business Wire Business Wire • 06-14-2022
By GuruFocus Research GuruFocus Editor • 05-12-2022
By GuruFocus Research GuruFocus Editor • 01-31-2023
By Business Wire Business Wire • 08-30-2022
By GuruFocus Research GuruFocus Editor • 10-17-2022
By Business Wire Business Wire • 07-27-2022
By James Li • 10-19-2022
By Business Wire Business Wire • 07-20-2022
By Business Wire Business Wire • 06-28-2022
By Business Wire Business Wire • 06-15-2022
Disclaimers: GuruFocus.com is not operated by a broker or a dealer. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. This investment adviser does not provide advice to individual investors. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.