Zoom Video Communications Beneish M-Score Historical Data
The historical data trend for Zoom Video Communications'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.
Zoom Video Communications Beneish M-Score Chart
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Zoom Video Communications Annual Data
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Jan24 |
| Beneish M-Score |
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-2.20 |
-0.48 |
-1.50 |
-2.87 |
-3.08 |
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Zoom Video Communications Quarterly Data
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Apr19 |
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| Beneish M-Score |
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-2.87 |
-2.85 |
-3.07 |
-3.31 |
-3.08 |
Competitive Comparison of Zoom Video Communications's Beneish M-Score
For the Software - Application subindustry, Zoom Video Communications'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.
Zoom Video Communications's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, Zoom Video Communications's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Zoom Video Communications's Beneish M-Score falls into.
Zoom Video Communications 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 Zoom Video Communications 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 * 0.919 | + | 0.528 * 0.9836 | + | 0.404 * 0.9398 | + | 0.892 * 0.9913 | + | 0.115 * 0.8591 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9043 | + | 4.679 * -0.129153 | - | 0.327 * 0.8177 |
| = | -3.14 |
* 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$2,637 Mil.
Revenue was 5638.505 + 5747.178 + 5466.214 + 5550.585 = R$22,402 Mil.
Gross Profit was 4279.572 + 4377.09 + 4186.598 + 4225.175 = R$17,068 Mil.
Total Current Assets was R$38,983 Mil.
Total Assets was R$48,837 Mil.
Property, Plant and Equipment(Net PPE) was R$1,735 Mil.
Depreciation, Depletion and Amortization(DDA) was R$517 Mil.
Selling, General, & Admin. Expense(SGA) was R$10,505 Mil.
Total Current Liabilities was R$8,667 Mil.
Long-Term Debt & Capital Lease Obligation was R$238 Mil.
Net Income was 1469.716 + 713.954 + 873.566 + 77.552 = R$3,135 Mil.
Non Operating Income was 906.685 + 83.104 + 349.26 + 168.16 = R$1,507 Mil.
Cash Flow from Operations was 1727.395 + 2493.332 + 1612.829 + 2101.432 = R$7,935 Mil.
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Total Receivables was R$2,894 Mil.
Revenue was 5803.857 + 5787.284 + 5902.11 + 5105.597 = R$22,599 Mil.
Gross Profit was 4275.512 + 4365.724 + 4433.312 + 3860.717 = R$16,935 Mil.
Total Current Assets was R$33,004 Mil.
Total Assets was R$42,203 Mil.
Property, Plant and Equipment(Net PPE) was R$1,733 Mil.
Depreciation, Depletion and Amortization(DDA) was R$426 Mil.
Selling, General, & Admin. Expense(SGA) was R$11,719 Mil.
Total Current Liabilities was R$9,027 Mil.
Long-Term Debt & Capital Lease Obligation was R$383 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) |
| = | (2636.539 / 22402.482) | / | (2894.153 / 22598.848) |
| = | 0.11769 | / | 0.128066 |
| | = | 0.919 |
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) |
| = | (16935.265 / 22598.848) | / | (17068.435 / 22402.482) |
| = | 0.749386 | / | 0.761899 |
| | = | 0.9836 |
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 - (38982.73 + 1734.546) / 48836.708) | / | (1 - (33003.762 + 1732.777) / 42202.539) |
| = | 0.166257 | / | 0.176909 |
| | = | 0.9398 |
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 |
| = | 22402.482 | / | 22598.848 |
| | = | 0.9913 |
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)) |
| = | (425.72 / (425.72 + 1732.777)) | / | (516.838 / (516.838 + 1734.546)) |
| = | 0.19723 | / | 0.229565 |
| | = | 0.8591 |
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) |
| = | (10505.202 / 22402.482) | / | (11719.327 / 22598.848) |
| = | 0.46893 | / | 0.518581 |
| | = | 0.9043 |
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) |
| = | ((237.588 + 8666.788) / 48836.708) | / | ((382.598 + 9027.387) / 42202.539) |
| = | 0.18233 | / | 0.222972 |
| | = | 0.8177 |
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 |
| = | (3134.788 - 1507.209 | - | 7934.988) | / | 48836.708 |
| | = | -0.129153 |
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.
Zoom Video Communications has a M-score of -3.14 suggests that the company is unlikely to be a manipulator.
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