Salesforce Beneish M-Score Historical Data
The historical data trend for Salesforce'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.
|
Salesforce Annual Data
|
|
Trend |
Jan15 |
Jan16 |
Jan17 |
Jan18 |
Jan19 |
Jan20 |
Jan21 |
Jan22 |
Jan23 |
Jan24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.53 |
-2.47 |
-2.46 |
-2.67 |
-2.66 |
|
Salesforce Quarterly Data
|
|
Apr19 |
Jul19 |
Oct19 |
Jan20 |
Apr20 |
Jul20 |
Oct20 |
Jan21 |
Apr21 |
Jul21 |
Oct21 |
Jan22 |
Apr22 |
Jul22 |
Oct22 |
Jan23 |
Apr23 |
Jul23 |
Oct23 |
Jan24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.67 |
-2.63 |
-2.60 |
-2.62 |
-2.66 |
Competitive Comparison
For the Software - Application subindustry, Salesforce'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.
Salesforce Beneish M-Score Distribution
For the Software industry and Technology sector, Salesforce's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Salesforce's Beneish M-Score falls into.
Salesforce 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 Salesforce 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 * 0.9406 | + | 0.528 * 0.9716 | + | 0.404 * 0.9727 | + | 0.892 * 1.0688 | + | 0.115 * 0.9133 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8631 | + | 4.679 * -0.0515 | - | 0.327 * 0.9772 |
| = | -2.72 |
* 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 R$56,136 Mil.
Revenue was 45675.323 + 44087.448 + 41298.702 + 41412.31 = R$172,474 Mil.
Gross Profit was 35111.03 + 33191.983 + 31155.245 + 30741.623 = R$130,200 Mil.
Total Current Assets was R$142,992 Mil.
Total Assets was R$490,949 Mil.
Property, Plant and Equipment(Net PPE) was R$29,780 Mil.
Depreciation, Depletion and Amortization(DDA) was R$19,615 Mil.
Selling, General, & Admin. Expense(SGA) was R$71,887 Mil.
Total Current Liabilities was R$130,977 Mil.
Long-Term Debt & Capital Lease Obligation was R$54,449 Mil.
Net Income was 7111.717 + 6188.422 + 6082.234 + 999.278 = R$20,382 Mil.
Non Operating Income was -737.73 + -348.857 + -158.417 + -4002.135 = R$-5,247 Mil.
Cash Flow from Operations was 16736.635 + 7745.639 + 3878.804 + 22551.556 = R$50,913 Mil.
|
Total Receivables was R$55,842 Mil.
Revenue was 43531.405 + 41160.708 + 41442.504 + 35237.082 = R$161,372 Mil.
Gross Profit was 32627.785 + 30194.323 + 30024.343 + 25513.72 = R$118,360 Mil.
Total Current Assets was R$137,048 Mil.
Total Assets was R$513,244 Mil.
Property, Plant and Equipment(Net PPE) was R$34,227 Mil.
Depreciation, Depletion and Amortization(DDA) was R$19,477 Mil.
Selling, General, & Admin. Expense(SGA) was R$77,924 Mil.
Total Current Liabilities was R$134,431 Mil.
Long-Term Debt & Capital Lease Obligation was R$63,947 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) |
| = | (56136.335 / 172473.783) | / | (55842.111 / 161371.699) |
| = | 0.325477 | / | 0.346046 |
| | = | 0.9406 |
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) |
| = | (118360.171 / 161371.699) | / | (130199.881 / 172473.783) |
| = | 0.733463 | / | 0.754897 |
| | = | 0.9716 |
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 - (142991.747 + 29779.701) / 490949.479) | / | (1 - (137048.119 + 34226.982) / 513243.778) |
| = | 0.648087 | / | 0.666289 |
| | = | 0.9727 |
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 |
| = | 172473.783 | / | 161371.699 |
| | = | 1.0688 |
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)) |
| = | (19477.291 / (19477.291 + 34226.982)) | / | (19614.637 / (19614.637 + 29779.701)) |
| = | 0.362677 | / | 0.397103 |
| | = | 0.9133 |
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) |
| = | (71887.14 / 172473.783) | / | (77923.714 / 161371.699) |
| = | 0.4168 | / | 0.482883 |
| | = | 0.8631 |
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) |
| = | ((54449.392 + 130976.584) / 490949.479) | / | ((63947.135 + 134431.25) / 513243.778) |
| = | 0.377689 | / | 0.386519 |
| | = | 0.9772 |
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 |
| = | (20381.651 - -5247.139 | - | 50912.634) | / | 490949.479 |
| | = | -0.0515 |
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.
Salesforce has a M-score of -2.72 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
BSP:SSFO34 has been successfully added to your