AvidXchange Holdings Beneish M-Score Historical Data
The historical data trend for AvidXchange 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.
AvidXchange Holdings Beneish M-Score Chart
|
AvidXchange Holdings Annual Data
|
|
Trend |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
0.00 |
0.00 |
-2.47 |
-2.57 |
-2.41 |
|
AvidXchange Holdings Quarterly Data
|
|
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
Mar25 |
Jun25 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.48 |
-2.31 |
-2.41 |
-2.51 |
-2.61 |
AVDX vs MQ, TDC, EVCM: Beneish M-Score Comparison
For the Software - Infrastructure subindustry, AvidXchange 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.
AvidXchange Holdings Beneish M-Score vs Software Industry
For the Software industry and Technology sector, AvidXchange Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where AvidXchange Holdings's Beneish M-Score falls into.
AvidXchange 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 AvidXchange 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 * 1.019 | + | 0.528 * 0.9708 | + | 0.404 * 1.0224 | + | 0.892 * 1.0804 | + | 0.115 * 1.0125 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0733 | + | 4.679 * -0.045685 | - | 0.327 * 0.9733 |
| = | -2.61 |
* 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 (Jun25) TTM: | Last Year (Jun24) TTM: |
Total Receivables was $69.0 Mil.
Revenue was 110.57 + 107.942 + 115.438 + 112.772 = $446.7 Mil.
Gross Profit was 79.621 + 77.153 + 84.845 + 82.343 = $324.0 Mil.
Total Current Assets was $1,640.0 Mil.
Total Assets was $2,003.8 Mil.
Property, Plant and Equipment(Net PPE) was $96.6 Mil.
Depreciation, Depletion and Amortization(DDA) was $34.9 Mil.
Selling, General, & Admin. Expense(SGA) was $203.5 Mil.
Total Current Liabilities was $1,232.0 Mil.
Long-Term Debt & Capital Lease Obligation was $69.3 Mil.
Net Income was -9.464 + -7.311 + 4.671 + 4.047 = $-8.1 Mil.
Non Operating Income was 0 + 0 + -0.124 + 0 = $-0.1 Mil.
Cash Flow from Operations was 23.21 + 7.396 + 28.452 + 24.554 = $83.6 Mil.
|
Total Receivables was $62.7 Mil.
Revenue was 105.132 + 105.598 + 104.064 + 98.68 = $413.5 Mil.
Gross Profit was 74.706 + 75.265 + 73.218 + 67.913 = $291.1 Mil.
Total Current Assets was $1,735.7 Mil.
Total Assets was $2,111.8 Mil.
Property, Plant and Equipment(Net PPE) was $100.6 Mil.
Depreciation, Depletion and Amortization(DDA) was $37.0 Mil.
Selling, General, & Admin. Expense(SGA) was $175.5 Mil.
Total Current Liabilities was $1,274.5 Mil.
Long-Term Debt & Capital Lease Obligation was $134.5 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) |
| = | (69.023 / 446.722) | / | (62.696 / 413.474) |
| = | 0.15451 | / | 0.151632 |
| | = | 1.019 |
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) |
| = | (291.102 / 413.474) | / | (323.962 / 446.722) |
| = | 0.704039 | / | 0.725198 |
| | = | 0.9708 |
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 - (1639.955 + 96.632) / 2003.835) | / | (1 - (1735.73 + 100.581) / 2111.794) |
| = | 0.133368 | / | 0.13045 |
| | = | 1.0224 |
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 |
| = | 446.722 | / | 413.474 |
| | = | 1.0804 |
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)) |
| = | (36.963 / (36.963 + 100.581)) | / | (34.917 / (34.917 + 96.632)) |
| = | 0.268736 | / | 0.26543 |
| | = | 1.0125 |
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) |
| = | (203.5 / 446.722) | / | (175.485 / 413.474) |
| = | 0.455541 | / | 0.424416 |
| | = | 1.0733 |
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) |
| = | ((69.297 + 1232.017) / 2003.835) | / | ((134.507 + 1274.489) / 2111.794) |
| = | 0.649412 | / | 0.667203 |
| | = | 0.9733 |
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 |
| = | (-8.057 - -0.124 | - | 83.612) | / | 2003.835 |
| | = | -0.045685 |
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.
AvidXchange Holdings has a M-score of -2.61 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
AVDX has been successfully added to your 