LiveRamp Holdings Beneish M-Score Historical Data
The historical data trend for LiveRamp Holdings'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.
LiveRamp Holdings Beneish M-Score Chart
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LiveRamp Holdings Annual Data
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Trend |
Mar14 |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
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3.05 |
-2.65 |
-2.37 |
-2.99 |
-2.96 |
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LiveRamp Holdings Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
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-3.16 |
-2.96 |
-3.26 |
-3.22 |
-2.98 |
Competitive Comparison of LiveRamp Holdings's Beneish M-Score
For the Software - Infrastructure subindustry, LiveRamp Holdings'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.
LiveRamp Holdings's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, LiveRamp Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where LiveRamp Holdings's Beneish M-Score falls into.
LiveRamp Holdings Beneish M-Score Calculation
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 LiveRamp Holdings 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 * 0.9242 | + | 0.528 * 0.9911 | + | 0.404 * 0.9409 | + | 0.892 * 1.0511 | + | 0.115 * 1.2984 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8814 | + | 4.679 * -0.109475 | - | 0.327 * 1.0753 |
| = | -3.01 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was €183.9 Mil.
Revenue was 159.438 + 149.799 + 142.206 + 138.817 = €590.3 Mil.
Gross Profit was 118.233 + 111.183 + 100.098 + 98.214 = €427.7 Mil.
Total Current Assets was €705.8 Mil.
Total Assets was €1,123.1 Mil.
Property, Plant and Equipment(Net PPE) was €30.9 Mil.
Depreciation, Depletion and Amortization(DDA) was €11.1 Mil.
Selling, General, & Admin. Expense(SGA) was €283.5 Mil.
Total Current Liabilities was €191.4 Mil.
Long-Term Debt & Capital Lease Obligation was €31.0 Mil.
Net Income was 12.817 + 4.557 + -1.464 + -29.294 = €-13.4 Mil.
Non Operating Income was 3.764 + -0.134 + 4.369 + -4.659 = €3.3 Mil.
Cash Flow from Operations was 15.73 + 33.873 + 23.715 + 32.908 = €106.2 Mil.
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Total Receivables was €189.3 Mil.
Revenue was 149.733 + 148.57 + 134.562 + 128.686 = €561.6 Mil.
Gross Profit was 108.87 + 105.843 + 95.756 + 92.842 = €403.3 Mil.
Total Current Assets was €657.2 Mil.
Total Assets was €1,101.2 Mil.
Property, Plant and Equipment(Net PPE) was €41.3 Mil.
Depreciation, Depletion and Amortization(DDA) was €21.5 Mil.
Selling, General, & Admin. Expense(SGA) was €306.0 Mil.
Total Current Liabilities was €165.9 Mil.
Long-Term Debt & Capital Lease Obligation was €36.9 Mil.
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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) |
| = | (183.882 / 590.26) | / | (189.278 / 561.551) |
| = | 0.311527 | / | 0.337063 |
| | = | 0.9242 |
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) |
| = | (403.311 / 561.551) | / | (427.728 / 590.26) |
| = | 0.718209 | / | 0.724643 |
| | = | 0.9911 |
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 - (705.78 + 30.903) / 1123.087) | / | (1 - (657.207 + 41.311) / 1101.16) |
| = | 0.344055 | / | 0.365653 |
| | = | 0.9409 |
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 |
| = | 590.26 | / | 561.551 |
| | = | 1.0511 |
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)) |
| = | (21.484 / (21.484 + 41.311)) | / | (11.056 / (11.056 + 30.903)) |
| = | 0.342129 | / | 0.263495 |
| | = | 1.2984 |
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) |
| = | (283.483 / 590.26) | / | (305.995 / 561.551) |
| = | 0.480268 | / | 0.54491 |
| | = | 0.8814 |
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) |
| = | ((31.028 + 191.426) / 1123.087) | / | ((36.908 + 165.933) / 1101.16) |
| = | 0.198074 | / | 0.184207 |
| | = | 1.0753 |
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 |
| = | (-13.384 - 3.34 | - | 106.226) | / | 1123.087 |
| | = | -0.109475 |
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.
LiveRamp Holdings has a M-score of -3.01 suggests that the company is unlikely to be a manipulator.
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