GetBusy (LSE:GETB) Beneish M-Score : -2.55 (As of Apr. 05, 2025)

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What is GetBusy Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

Good Sign:

Beneish M-Score -2.55 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for GetBusy's Beneish M-Score or its related term are showing as below:

LSE:GETB' s Beneish M-Score Range Over the Past 10 Years
Min: -11.62 Med: -3.28 Max: -0.24
Current: -2.55

During the past 11 years, the highest Beneish M-Score of GetBusy was -0.24. The lowest was -11.62. And the median was -3.28.

GetBusy Beneish M-Score Historical Data

The historical data trend for GetBusy'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.

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GetBusy Beneish M-Score Chart

GetBusy Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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-2.20

-4.32

-3.26

-2.64

-2.55

GetBusy Semi-Annual Data
	Dec14	Dec15	Dec16	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24
Beneish M-Score	Get a 7-Day Free Trial													-3.26	-	-2.64	-	-2.55

Competitive Comparison of GetBusy's Beneish M-Score

For the Software - Application subindustry, GetBusy'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.

GetBusy's Beneish M-Score Distribution in the Software Industry

For the Software industry and Technology sector, GetBusy's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where GetBusy's Beneish M-Score falls into.

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GetBusy 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 GetBusy for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.0926

0.528 * 1.0069

0.404 * 1.0867

0.892 * 1.0158

0.115 * 1.0162

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.052673

0.327 * 0.8864

-2.55

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was £2.07 Mil.
Revenue was £21.45 Mil.
Gross Profit was £19.19 Mil.
Total Current Assets was £5.03 Mil.
Total Assets was £11.43 Mil.
Property, Plant and Equipment(Net PPE) was £1.54 Mil.
Depreciation, Depletion and Amortization(DDA) was £1.55 Mil.
Selling, General, & Admin. Expense(SGA) was £0.00 Mil.
Total Current Liabilities was £10.64 Mil.
Long-Term Debt & Capital Lease Obligation was £2.44 Mil.
Net Income was £0.90 Mil.
Gross Profit was £0.00 Mil.
Cash Flow from Operations was £1.50 Mil.

Total Receivables was £1.87 Mil.
Revenue was £21.11 Mil.
Gross Profit was £19.02 Mil.
Total Current Assets was £4.42 Mil.
Total Assets was £9.25 Mil.
Property, Plant and Equipment(Net PPE) was £1.21 Mil.
Depreciation, Depletion and Amortization(DDA) was £1.26 Mil.
Selling, General, & Admin. Expense(SGA) was £0.00 Mil.
Total Current Liabilities was £11.20 Mil.
Long-Term Debt & Capital Lease Obligation was £0.74 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)
	=	(2.072 / 21.445)	/	(1.867 / 21.112)
	=	0.096619	/	0.088433
	=	1.0926

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)
	=	(19.017 / 21.112)	/	(19.185 / 21.445)
	=	0.900767	/	0.894614
	=	1.0069

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 - (5.03 + 1.539) / 11.429)	/	(1 - (4.419 + 1.212) / 9.251)
	=	0.425234	/	0.391309
	=	1.0867

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
	=	21.445	/	21.112
	=	1.0158

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))
	=	(1.257 / (1.257 + 1.212))	/	(1.545 / (1.545 + 1.539))
	=	0.509113	/	0.500973
	=	1.0162

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)
	=	(0 / 21.445)	/	(0 / 21.112)
	=	0	/	0
	=	1

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)
	=	((2.437 + 10.642) / 11.429)	/	((0.741 + 11.202) / 9.251)
	=	1.14437	/	1.290996
	=	0.8864

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
	=	(0.897 - 0	-	1.499)	/	11.429
	=	-0.052673

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.

GetBusy has a M-score of -2.55 suggests that the company is unlikely to be a manipulator.

GetBusy Beneish M-Score Related Terms

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GetBusy Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » GetBusy PLC (LSE:GETB) » Definitions » Beneish M-Score

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Address

20 West Street, Unity Campus, Suite 8, The Works, Pampisford, Cambridge, GBR, CB22 3FT

Website

https://www.getbusyplc.com

GetBusy PLC is a holding company for a group of software companies providing productivity software for professional and financial services. The company operates in three software products SmartVault, Virtual Cabinet, and Workiro, and a corporate and central segment. Its software suite includes a range of tools and end-to-end workflows such as digital asset and document management, tailored templates, quotes/proposal development, form-fill, authentication, e-signatures and approvals, workflow and task management, chat, and complex digital certification. Geographically, the company generates a majority of its revenue from the United States of America and the rest from the United Kingdom, Australia and New Zealand.

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