Verint Systems Beneish M-Score Historical Data
The historical data trend for Verint 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.
Verint Systems Beneish M-Score Chart
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Verint Systems Annual Data
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Jan15 |
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Jan21 |
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Jan23 |
Jan24 |
| Beneish M-Score |
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-2.65 |
-3.22 |
-2.60 |
-2.65 |
-2.74 |
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Verint Systems Quarterly Data
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Apr19 |
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Jan24 |
| Beneish M-Score |
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-2.65 |
-2.62 |
-2.77 |
-2.73 |
-2.74 |
Competitive Comparison of Verint Systems's Beneish M-Score
For the Software - Infrastructure subindustry, Verint 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.
Verint Systems's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, Verint Systems's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Verint Systems's Beneish M-Score falls into.
Verint Systems 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 Verint 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 * 0.9759 | + | 0.528 * 0.9674 | + | 0.404 * 1.0287 | + | 0.892 * 1.009 | + | 0.115 * 0.8329 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0238 | + | 4.679 * -0.048737 | - | 0.327 * 0.9708 |
| = | -2.74 |
* 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 (Jan24) TTM: | Last Year (Jan23) TTM: |
Total Receivables was $257.4 Mil.
Revenue was 265.109 + 218.547 + 210.165 + 216.566 = $910.4 Mil.
Gross Profit was 190.814 + 153.009 + 141.289 + 148.163 = $633.3 Mil.
Total Current Assets was $573.2 Mil.
Total Assets was $2,226.4 Mil.
Property, Plant and Equipment(Net PPE) was $77.8 Mil.
Depreciation, Depletion and Amortization(DDA) was $71.5 Mil.
Selling, General, & Admin. Expense(SGA) was $405.9 Mil.
Total Current Liabilities was $418.2 Mil.
Long-Term Debt & Capital Lease Obligation was $444.2 Mil.
Net Income was 28.703 + 12.612 + -6 + 3.295 = $38.6 Mil.
Non Operating Income was -3.582 + 0.059 + -0.024 + 0.024 = $-3.5 Mil.
Cash Flow from Operations was 68.963 + 18.347 + 3.325 + 60.007 = $150.6 Mil.
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Total Receivables was $261.4 Mil.
Revenue was 236.247 + 225.193 + 222.899 + 217.906 = $902.2 Mil.
Gross Profit was 163.416 + 154.796 + 147.794 + 141.171 = $607.2 Mil.
Total Current Assets was $619.7 Mil.
Total Assets was $2,313.6 Mil.
Property, Plant and Equipment(Net PPE) was $102.5 Mil.
Depreciation, Depletion and Amortization(DDA) was $68.0 Mil.
Selling, General, & Admin. Expense(SGA) was $392.9 Mil.
Total Current Liabilities was $471.1 Mil.
Long-Term Debt & Capital Lease Obligation was $452.0 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) |
| = | (257.374 / 910.387) | / | (261.361 / 902.245) |
| = | 0.282708 | / | 0.289679 |
| | = | 0.9759 |
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) |
| = | (607.177 / 902.245) | / | (633.275 / 910.387) |
| = | 0.672962 | / | 0.695611 |
| | = | 0.9674 |
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 - (573.174 + 77.822) / 2226.424) | / | (1 - (619.656 + 102.459) / 2313.601) |
| = | 0.707605 | / | 0.687883 |
| | = | 1.0287 |
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 |
| = | 910.387 | / | 902.245 |
| | = | 1.009 |
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)) |
| = | (67.96 / (67.96 + 102.459)) | / | (71.485 / (71.485 + 77.822)) |
| = | 0.398782 | / | 0.478779 |
| | = | 0.8329 |
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) |
| = | (405.915 / 910.387) | / | (392.939 / 902.245) |
| = | 0.445871 | / | 0.435513 |
| | = | 1.0238 |
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) |
| = | ((444.152 + 418.171) / 2226.424) | / | ((451.96 + 471.051) / 2313.601) |
| = | 0.387313 | / | 0.39895 |
| | = | 0.9708 |
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 |
| = | (38.61 - -3.523 | - | 150.642) | / | 2226.424 |
| | = | -0.048737 |
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.
Verint Systems has a M-score of -2.74 suggests that the company is unlikely to be a manipulator.
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