Tableau Software Beneish M-Score Historical Data
The historical data trend for Tableau Software'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.
Tableau Software Beneish M-Score Chart
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Tableau Software Annual Data
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Dec10 |
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Dec13 |
Dec14 |
Dec15 |
Dec16 |
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Dec18 |
| Beneish M-Score |
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-1.46 |
-3.17 |
-3.02 |
-1.78 |
-3.13 |
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Tableau Software Quarterly Data
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Sep14 |
Dec14 |
Mar15 |
Jun15 |
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Mar18 |
Jun18 |
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Mar19 |
Jun19 |
| Beneish M-Score |
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-1.35 |
-2.82 |
-3.13 |
-3.06 |
-3.06 |
Competitive Comparison of Tableau Software's Beneish M-Score
For the Software - Application subindustry, Tableau Software'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.
Tableau Software's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, Tableau Software's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Tableau Software's Beneish M-Score falls into.
Tableau Software 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 Tableau Software 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 * 1.0313 | + | 0.528 * 0.9959 | + | 0.404 * 0.5741 | + | 0.892 * 1.2404 | + | 0.115 * 2.3814 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9699 | + | 4.679 * -0.147628 | - | 0.327 * 1.3612 |
| = | -3.06 |
* 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 (Jun19) TTM: | Last Year (Jun18) TTM: |
Total Receivables was $220 Mil.
Revenue was 322.104 + 282.46 + 336.276 + 290.58 = $1,231 Mil.
Gross Profit was 282.258 + 243.031 + 296.081 + 255.801 = $1,077 Mil.
Total Current Assets was $1,451 Mil.
Total Assets was $1,912 Mil.
Property, Plant and Equipment(Net PPE) was $328 Mil.
Depreciation, Depletion and Amortization(DDA) was $46 Mil.
Selling, General, & Admin. Expense(SGA) was $809 Mil.
Total Current Liabilities was $547 Mil.
Long-Term Debt & Capital Lease Obligation was $258 Mil.
Net Income was -35.518 + -88.882 + 2.833 + -21.337 = $-143 Mil.
Non Operating Income was 7.481 + 5.186 + 5.163 + 4.381 = $22 Mil.
Cash Flow from Operations was -2.496 + 24.149 + 46.767 + 48.673 = $117 Mil.
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Total Receivables was $172 Mil.
Revenue was 282.289 + 246.207 + 249.356 + 214.917 = $993 Mil.
Gross Profit was 247.064 + 213.782 + 219.046 + 184.988 = $865 Mil.
Total Current Assets was $1,199 Mil.
Total Assets was $1,473 Mil.
Property, Plant and Equipment(Net PPE) was $96 Mil.
Depreciation, Depletion and Amortization(DDA) was $40 Mil.
Selling, General, & Admin. Expense(SGA) was $672 Mil.
Total Current Liabilities was $456 Mil.
Long-Term Debt & Capital Lease Obligation was $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) |
| = | (219.629 / 1231.42) | / | (171.685 / 992.769) |
| = | 0.178354 | / | 0.172935 |
| | = | 1.0313 |
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) |
| = | (864.88 / 992.769) | / | (1077.171 / 1231.42) |
| = | 0.871179 | / | 0.874739 |
| | = | 0.9959 |
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 - (1451.233 + 327.622) / 1911.615) | / | (1 - (1199.435 + 95.603) / 1473.257) |
| = | 0.069449 | / | 0.120969 |
| | = | 0.5741 |
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 |
| = | 1231.42 | / | 992.769 |
| | = | 1.2404 |
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)) |
| = | (39.959 / (39.959 + 95.603)) | / | (46.281 / (46.281 + 327.622)) |
| = | 0.294765 | / | 0.123778 |
| | = | 2.3814 |
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) |
| = | (809 / 1231.42) | / | (672.471 / 992.769) |
| = | 0.656965 | / | 0.677369 |
| | = | 0.9699 |
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) |
| = | ((257.982 + 547.376) / 1911.615) | / | ((0 + 455.994) / 1473.257) |
| = | 0.421297 | / | 0.309514 |
| | = | 1.3612 |
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 |
| = | (-142.904 - 22.211 | - | 117.093) | / | 1911.615 |
| | = | -0.147628 |
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.
Tableau Software has a M-score of -3.06 suggests that the company is unlikely to be a manipulator.
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