Broadridge Financial Solutions Beneish M-Score Historical Data
The historical data trend for Broadridge Financial Solutions'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.
Broadridge Financial Solutions Beneish M-Score Chart
|
Broadridge Financial Solutions Annual Data
|
|
Trend |
Jun15 |
Jun16 |
Jun17 |
Jun18 |
Jun19 |
Jun20 |
Jun21 |
Jun22 |
Jun23 |
Jun24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.56 |
-2.40 |
-2.29 |
-2.55 |
-2.63 |
|
Broadridge Financial Solutions Quarterly Data
|
|
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.57 |
-2.65 |
-2.63 |
-2.63 |
-2.69 |
Competitive Comparison of Broadridge Financial Solutions's Beneish M-Score
For the Information Technology Services subindustry, Broadridge Financial Solutions'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.
Broadridge Financial Solutions's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, Broadridge Financial Solutions's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Broadridge Financial Solutions's Beneish M-Score falls into.
Broadridge Financial Solutions 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 Broadridge Financial Solutions 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 * 0.9336 | + | 0.528 * 1.0045 | + | 0.404 * 0.9934 | + | 0.892 * 1.0467 | + | 0.115 * 0.9677 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.036 | + | 4.679 * -0.037956 | - | 0.327 * 0.9937 |
| = | -2.69 |
* 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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was $895 Mil.
Revenue was 1422.9 + 1944.3 + 1726.5 + 1405 = $6,499 Mil.
Gross Profit was 347.9 + 691.2 + 539.2 + 347.8 = $1,926 Mil.
Total Current Assets was $1,350 Mil.
Total Assets was $8,017 Mil.
Property, Plant and Equipment(Net PPE) was $343 Mil.
Depreciation, Depletion and Amortization(DDA) was $482 Mil.
Selling, General, & Admin. Expense(SGA) was $923 Mil.
Total Current Liabilities was $972 Mil.
Long-Term Debt & Capital Lease Obligation was $3,763 Mil.
Net Income was 79.8 + 323.2 + 213.7 + 70.3 = $687 Mil.
Non Operating Income was -1.9 + 1.8 + -0.9 + -0.4 = $-1 Mil.
Cash Flow from Operations was -125.5 + 721 + 207.4 + 189.8 = $993 Mil.
|
Total Receivables was $916 Mil.
Revenue was 1431.1 + 1839 + 1645.7 + 1292.9 = $6,209 Mil.
Gross Profit was 355.8 + 679.9 + 508 + 304.7 = $1,848 Mil.
Total Current Assets was $1,327 Mil.
Total Assets was $8,071 Mil.
Property, Plant and Equipment(Net PPE) was $335 Mil.
Depreciation, Depletion and Amortization(DDA) was $436 Mil.
Selling, General, & Admin. Expense(SGA) was $851 Mil.
Total Current Liabilities was $924 Mil.
Long-Term Debt & Capital Lease Obligation was $3,874 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) |
| = | (895.3 / 6498.7) | / | (916.2 / 6208.7) |
| = | 0.137766 | / | 0.147567 |
| | = | 0.9336 |
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) |
| = | (1848.4 / 6208.7) | / | (1926.1 / 6498.7) |
| = | 0.297711 | / | 0.296382 |
| | = | 1.0045 |
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 - (1350.2 + 342.9) / 8017.1) | / | (1 - (1326.9 + 335.1) / 8071.2) |
| = | 0.788814 | / | 0.794083 |
| | = | 0.9934 |
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 |
| = | 6498.7 | / | 6208.7 |
| | = | 1.0467 |
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)) |
| = | (435.8 / (435.8 + 335.1)) | / | (481.7 / (481.7 + 342.9)) |
| = | 0.565313 | / | 0.584162 |
| | = | 0.9677 |
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) |
| = | (922.8 / 6498.7) | / | (851 / 6208.7) |
| = | 0.141998 | / | 0.137066 |
| | = | 1.036 |
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) |
| = | ((3763.3 + 972.4) / 8017.1) | / | ((3873.8 + 924) / 8071.2) |
| = | 0.5907 | / | 0.594435 |
| | = | 0.9937 |
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 |
| = | (687 - -1.4 | - | 992.7) | / | 8017.1 |
| | = | -0.037956 |
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.
Broadridge Financial Solutions has a M-score of -2.69 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
BR has been successfully added to your