Dassault Systemes SE (MEX:DSY N) Beneish M-Score : -2.58 (As of Jun. 27, 2025)

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What is Dassault Systemes SE 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 -2.58 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

MEX:DSY N' s Beneish M-Score Range Over the Past 10 Years
Min: -2.83 Med: -2.57 Max: -2.22
Current: -2.58

During the past 13 years, the highest Beneish M-Score of Dassault Systemes SE was -2.22. The lowest was -2.83. And the median was -2.57.

Dassault Systemes SE Beneish M-Score Historical Data

The historical data trend for Dassault Systemes 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.

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Dassault Systemes SE Beneish M-Score Chart

Dassault Systemes SE Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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-2.83

-2.66

-2.45

-2.64

-2.40

Dassault Systemes SE Quarterly Data
	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25
Beneish M-Score	Get a 7-Day Free Trial															-2.41	-2.51	-2.62	-2.40	-2.58

Competitive Comparison of Dassault Systemes SE's Beneish M-Score

For the Software - Application subindustry, Dassault Systemes 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.

Dassault Systemes SE's Beneish M-Score Distribution in the Software Industry

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

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

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Dassault Systemes 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 Dassault Systemes SE 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 * 1.1019

0.528 * 1.0022

0.404 * 0.9789

0.892 * 1.2139

0.115 * 1.062

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.014

4.679 * -0.039592

0.327 * 0.9571

-2.37

This Year (Mar25) TTM:

Last Year (Mar24) TTM:

Total Receivables was MXN38,568 Mil.
Revenue was 34787.787 + 38311.157 + 31991.82 + 29499.507 = MXN134,590 Mil.
Gross Profit was 29030.739 + 32484.664 + 26464.987 + 24512.258 = MXN112,493 Mil.
Total Current Assets was MXN142,688 Mil.
Total Assets was MXN339,201 Mil.
Property, Plant and Equipment(Net PPE) was MXN20,540 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN11,936 Mil.
Selling, General, & Admin. Expense(SGA) was MXN47,437 Mil.
Total Current Liabilities was MXN76,007 Mil.
Long-Term Debt & Capital Lease Obligation was MXN45,192 Mil.
Net Income was 5761.471 + 8997.433 + 5238.363 + 5180.507 = MXN25,178 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = MXN0 Mil.
Cash Flow from Operations was 17981.099 + 6813.59 + 4755.393 + 9057.506 = MXN38,608 Mil.

Total Receivables was MXN28,832 Mil.
Revenue was 27051.896 + 30420.37 + 26485.275 + 26915.737 = MXN110,873 Mil.
Gross Profit was 22655.692 + 25683.5 + 22055.261 + 22478.383 = MXN92,873 Mil.
Total Current Assets was MXN111,119 Mil.
Total Assets was MXN271,390 Mil.
Property, Plant and Equipment(Net PPE) was MXN16,436 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN10,523 Mil.
Selling, General, & Admin. Expense(SGA) was MXN38,539 Mil.
Total Current Liabilities was MXN64,487 Mil.
Long-Term Debt & Capital Lease Obligation was MXN36,824 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)
	=	(38567.577 / 134590.271)	/	(28832.385 / 110873.278)
	=	0.286555	/	0.260048
	=	1.1019

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)
	=	(92872.836 / 110873.278)	/	(112492.648 / 134590.271)
	=	0.837649	/	0.835816
	=	1.0022

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 - (142687.651 + 20540.033) / 339201.379)	/	(1 - (111119.143 + 16435.704) / 271390.26)
	=	0.518788	/	0.529995
	=	0.9789

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
	=	134590.271	/	110873.278
	=	1.2139

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))
	=	(10522.797 / (10522.797 + 16435.704))	/	(11936.323 / (11936.323 + 20540.033))
	=	0.390333	/	0.367539
	=	1.062

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)
	=	(47436.734 / 134590.271)	/	(38539.371 / 110873.278)
	=	0.352453	/	0.347598
	=	1.014

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)
	=	((45191.611 + 76007.189) / 339201.379)	/	((36823.843 + 64487.274) / 271390.26)
	=	0.357306	/	0.373304
	=	0.9571

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
	=	(25177.774 - 0	-	38607.588)	/	339201.379
	=	-0.039592

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.

Dassault Systemes SE has a M-score of -2.37 suggests that the company is unlikely to be a manipulator.

Dassault Systemes SE Beneish M-Score Related Terms

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Dassault Systemes SE Business Description

Industry

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Traded in Other Exchanges

DASTY:USA DASTF:USA DSYp:UK 0HB4:UK DSY:France DSYA:Germany DSY2:Austria

Address

10, Rue Marcel Dassault, Velizy-Villacoublay, FRA, 78140

Website

https://www.3ds.com

Dassault Systèmes is a leading provider of computer-assisted design and product lifecycle management software, serving customers like Boeing and Volkswagen throughout the production process. The company's flagship product, Catia, primarily serves the transportation, industrial equipment, and aerospace and defense industries. In life sciences, Dassault's Medidata cloud platform optimizes clinical trial efficiency and is the leader in electronic data capture.

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