Juniper Networks (MEX:JNPR) Beneish M-Score : -2.97 (As of Jun. 21, 2024)

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What is Juniper Networks 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 -2.97 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

MEX:JNPR' s Beneish M-Score Range Over the Past 10 Years
Min: -3.08 Med: -2.62 Max: -2.05
Current: -2.97

During the past 13 years, the highest Beneish M-Score of Juniper Networks was -2.05. The lowest was -3.08. And the median was -2.62.

Juniper Networks Beneish M-Score Historical Data

The historical data trend for Juniper Networks'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.

* Premium members only.

Juniper Networks Beneish M-Score Chart

Juniper Networks Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-2.28

-2.53

-2.63

-2.10

-2.80

Juniper Networks Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial															-2.08	-2.69	-2.82	-2.80	-2.97

Competitive Comparison of Juniper Networks's Beneish M-Score

For the Communication Equipment subindustry, Juniper Networks'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.

Juniper Networks's Beneish M-Score Distribution in the Hardware Industry

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

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

Juniper Networks 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 Juniper Networks 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 * 0.8297

0.528 * 0.9604

0.404 * 1.0307

0.892 * 0.8516

0.115 * 1.1817

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0765

4.679 * -0.059435

0.327 * 0.9755

-3.04

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was MXN13,524 Mil.
Revenue was 19067.437 + 23166.454 + 24348.134 + 24517.491 = MXN91,100 Mil.
Gross Profit was 11300.39 + 13701.613 + 14116.274 + 13939.705 = MXN53,058 Mil.
Total Current Assets was MXN58,766 Mil.
Total Assets was MXN157,303 Mil.
Property, Plant and Equipment(Net PPE) was MXN14,057 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN3,230 Mil.
Selling, General, & Admin. Expense(SGA) was MXN25,285 Mil.
Total Current Liabilities was MXN33,690 Mil.
Long-Term Debt & Capital Lease Obligation was MXN28,839 Mil.
Net Income was -13.277 + 2109.899 + 1325.578 + 418.311 = MXN3,841 Mil.
Non Operating Income was -680.446 + -378.526 + -1060.811 + -1853.256 = MXN-3,973 Mil.
Cash Flow from Operations was 5393.783 + 154.466 + 5734.301 + 5880.358 = MXN17,163 Mil.

Total Receivables was MXN19,139 Mil.
Revenue was 24726.695 + 28245.805 + 28454.679 + 25541.813 = MXN106,969 Mil.
Gross Profit was 13900.88 + 16123.192 + 15846.597 + 13963.904 = MXN59,835 Mil.
Total Current Assets was MXN65,937 Mil.
Total Assets was MXN167,926 Mil.
Property, Plant and Equipment(Net PPE) was MXN14,487 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN4,105 Mil.
Selling, General, & Admin. Expense(SGA) was MXN27,580 Mil.
Total Current Liabilities was MXN37,387 Mil.
Long-Term Debt & Capital Lease Obligation was MXN31,043 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)
	=	(13524.288 / 91099.516)	/	(19138.945 / 106968.992)
	=	0.148456	/	0.17892
	=	0.8297

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)
	=	(59834.573 / 106968.992)	/	(53057.982 / 91099.516)
	=	0.559364	/	0.582418
	=	0.9604

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 - (58765.679 + 14057.028) / 157302.624)	/	(1 - (65937.252 + 14486.692) / 167926.307)
	=	0.537053	/	0.521076
	=	1.0307

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
	=	91099.516	/	106968.992
	=	0.8516

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))
	=	(4104.788 / (4104.788 + 14486.692))	/	(3229.985 / (3229.985 + 14057.028))
	=	0.220789	/	0.186845
	=	1.1817

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)
	=	(25285.179 / 91099.516)	/	(27579.973 / 106968.992)
	=	0.277556	/	0.257831
	=	1.0765

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)
	=	((28839.312 + 33690.398) / 157302.624)	/	((31042.655 + 37387.455) / 167926.307)
	=	0.397512	/	0.407501
	=	0.9755

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
	=	(3840.511 - -3973.039	-	17162.908)	/	157302.624
	=	-0.059435

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.

Juniper Networks has a M-score of -3.04 suggests that the company is unlikely to be a manipulator.

Juniper Networks Beneish M-Score Related Terms

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Juniper Networks (MEX:JNPR) Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

JNPR:USA 1JNPR:Italy 0JPH:UK JNP:Germany J1NP34:Brazil

Address

1133 Innovation Way, Sunnyvale, CA, USA, 94089

Website

https://www.juniper.net

Juniper Networks Inc is engaged in designing, developing, and selling products and services for high-performance networks to enable customers to build scalable, reliable, secure, and cost-effective networks for their businesses, while achieving agility and improved operating efficiency through automation. The company's high-performance network and service offerings include routing, switching, Wi-Fi, network security, artificial intelligence (AI) or AI-enabled enterprise networking operations (AIOps), and software-defined networking (SDN) technologies. In addition to the company's products, the company offers its customers a variety of services, including maintenance and support, professional services, Software-as-a-Service ("SaaS"), and education and training programs.