NTT Data Group Beneish M-Score Historical Data
The historical data trend for NTT Data Group'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.
NTT Data Group Beneish M-Score Chart
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NTT Data Group Annual Data
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| Beneish M-Score |
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-2.85 |
-2.64 |
-2.03 |
-2.62 |
-2.58 |
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NTT Data Group Quarterly Data
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Sep20 |
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Jun25 |
| Beneish M-Score |
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-2.55 |
-2.61 |
-2.48 |
-2.58 |
-2.72 |
FRA:NT5 vs FIS, FISV, LDOS: Beneish M-Score Comparison
For the Information Technology Services subindustry, NTT Data Group'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.
NTT Data Group Beneish M-Score vs Software Industry
For the Software industry and Technology sector, NTT Data Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where NTT Data Group's Beneish M-Score falls into.
NTT Data Group 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 NTT Data Group 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 * 1.0222 | + | 0.528 * 0.9719 | + | 0.404 * 0.9314 | + | 0.892 * 1.0375 | + | 0.115 * 1.0294 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0367 | + | 4.679 * -0.046235 | - | 0.327 * 1.0309 |
| = | -2.70 |
* 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 €9,065 Mil.
Revenue was 6626.971 + 7638.944 + 7249.732 + 7109.482 = €28,625 Mil.
Gross Profit was 1844.977 + 2207.153 + 2027.684 + 1971.367 = €8,051 Mil.
Total Current Assets was €15,826 Mil.
Total Assets was €46,228 Mil.
Property, Plant and Equipment(Net PPE) was €14,817 Mil.
Depreciation, Depletion and Amortization(DDA) was €2,256 Mil.
Selling, General, & Admin. Expense(SGA) was €6,049 Mil.
Total Current Liabilities was €16,465 Mil.
Long-Term Debt & Capital Lease Obligation was €10,953 Mil.
Net Income was 126.524 + 285.386 + 240.112 + 230.352 = €882 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = €0 Mil.
Cash Flow from Operations was 1273.831 + 1136.584 + 720.697 + -111.394 = €3,020 Mil.
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Total Receivables was €8,548 Mil.
Revenue was 6544.654 + 7315.026 + 6990.788 + 6740.525 = €27,591 Mil.
Gross Profit was 1720.51 + 2115.682 + 1853.839 + 1851.875 = €7,542 Mil.
Total Current Assets was €14,817 Mil.
Total Assets was €44,729 Mil.
Property, Plant and Equipment(Net PPE) was €13,721 Mil.
Depreciation, Depletion and Amortization(DDA) was €2,160 Mil.
Selling, General, & Admin. Expense(SGA) was €5,624 Mil.
Total Current Liabilities was €16,638 Mil.
Long-Term Debt & Capital Lease Obligation was €9,096 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) |
| = | (9065.403 / 28625.129) | / | (8548.465 / 27590.993) |
| = | 0.316694 | / | 0.309828 |
| | = | 1.0222 |
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) |
| = | (7541.906 / 27590.993) | / | (8051.181 / 28625.129) |
| = | 0.273347 | / | 0.281263 |
| | = | 0.9719 |
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 - (15825.823 + 14817.132) / 46228.043) | / | (1 - (14817.056 + 13721.152) / 44729.108) |
| = | 0.337135 | / | 0.361977 |
| | = | 0.9314 |
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 |
| = | 28625.129 | / | 27590.993 |
| | = | 1.0375 |
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)) |
| = | (2160.329 / (2160.329 + 13721.152)) | / | (2256.116 / (2256.116 + 14817.132)) |
| = | 0.136028 | / | 0.132143 |
| | = | 1.0294 |
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) |
| = | (6049.404 / 28625.129) | / | (5624.375 / 27590.993) |
| = | 0.211332 | / | 0.203848 |
| | = | 1.0367 |
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) |
| = | ((10953.021 + 16464.512) / 46228.043) | / | ((9096.043 + 16637.886) / 44729.108) |
| = | 0.593093 | / | 0.575328 |
| | = | 1.0309 |
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 |
| = | (882.374 - 0 | - | 3019.718) | / | 46228.043 |
| | = | -0.046235 |
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.
NTT Data Group has a M-score of -2.70 suggests that the company is unlikely to be a manipulator.
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