IONOS Group SE Beneish M-Score Historical Data
The historical data trend for IONOS Group SE'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.
IONOS Group SE Beneish M-Score Chart
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IONOS Group SE Annual Data
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Dec22 |
Dec23 |
| Beneish M-Score |
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- |
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IONOS Group SE Quarterly Data
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Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
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- |
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-2.89 |
-4.02 |
-3.78 |
Competitive Comparison of IONOS Group SE's Beneish M-Score
For the Information Technology Services subindustry, IONOS Group SE'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.
IONOS Group SE's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, IONOS Group SE's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where IONOS Group SE's Beneish M-Score falls into.
IONOS Group SE 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 IONOS Group SE 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 * 1.293 | + | 0.528 * 0.9545 | + | 0.404 * 0.9709 | + | 0.892 * 1.0777 | + | 0.115 * 0.9824 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0034 | + | 4.679 * -0.131599 | - | 0.327 * 4.0067 |
| = | -3.78 |
* 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 €222 Mil.
Revenue was 389.994 + 378.645 + 372.969 + 365.025 = €1,507 Mil.
Gross Profit was 186.043 + 184.74 + 190.927 + 179.529 = €741 Mil.
Total Current Assets was €298 Mil.
Total Assets was €1,657 Mil.
Property, Plant and Equipment(Net PPE) was €312 Mil.
Depreciation, Depletion and Amortization(DDA) was €109 Mil.
Selling, General, & Admin. Expense(SGA) was €252 Mil.
Total Current Liabilities was €364 Mil.
Long-Term Debt & Capital Lease Obligation was €797 Mil.
Net Income was 48.778 + 39.718 + 34.115 + 23.98 = €147 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = €0 Mil.
Cash Flow from Operations was 95.86 + 104.386 + 85.458 + 78.893 = €365 Mil.
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Total Receivables was €160 Mil.
Revenue was 350.065 + 354.85 + 353.794 + 339.322 = €1,398 Mil.
Gross Profit was 174.016 + 169.5 + 162.751 + 150.241 = €657 Mil.
Total Current Assets was €240 Mil.
Total Assets was €1,589 Mil.
Property, Plant and Equipment(Net PPE) was €316 Mil.
Depreciation, Depletion and Amortization(DDA) was €108 Mil.
Selling, General, & Admin. Expense(SGA) was €233 Mil.
Total Current Liabilities was €278 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) |
| = | (222.433 / 1506.633) | / | (159.628 / 1398.031) |
| = | 0.147636 | / | 0.114181 |
| | = | 1.293 |
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) |
| = | (656.508 / 1398.031) | / | (741.239 / 1506.633) |
| = | 0.469595 | / | 0.491984 |
| | = | 0.9545 |
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 - (298.361 + 312.229) / 1656.59) | / | (1 - (239.957 + 315.75) / 1589.423) |
| = | 0.631418 | / | 0.650372 |
| | = | 0.9709 |
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 |
| = | 1506.633 | / | 1398.031 |
| | = | 1.0777 |
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)) |
| = | (108.004 / (108.004 + 315.75)) | / | (109.376 / (109.376 + 312.229)) |
| = | 0.254874 | / | 0.259428 |
| | = | 0.9824 |
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) |
| = | (252.238 / 1506.633) | / | (233.267 / 1398.031) |
| = | 0.167418 | / | 0.166854 |
| | = | 1.0034 |
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) |
| = | ((797.358 + 364.175) / 1656.59) | / | ((0 + 278.146) / 1589.423) |
| = | 0.701159 | / | 0.174998 |
| | = | 4.0067 |
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 |
| = | (146.591 - 0 | - | 364.597) | / | 1656.59 |
| | = | -0.131599 |
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.
IONOS Group SE has a M-score of -3.78 suggests that the company is unlikely to be a manipulator.
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