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Wix.com (MEX:WIX) Beneish M-Score : -2.90 (As of Apr. 04, 2025)


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What is Wix.com 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 -2.9 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

MEX:WIX' s Beneish M-Score Range Over the Past 10 Years
Min: -4.21   Med: -2.84   Max: -1.49
Current: -2.9

During the past 13 years, the highest Beneish M-Score of Wix.com was -1.49. The lowest was -4.21. And the median was -2.84.


Wix.com Beneish M-Score Historical Data

The historical data trend for Wix.com'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.

Wix.com Beneish M-Score Chart

Wix.com Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.75 -3.31 -2.99 -2.66 -2.90

Wix.com Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.66 -3.24 -3.63 -3.78 -2.90

Competitive Comparison of Wix.com's Beneish M-Score

For the Software - Infrastructure subindustry, Wix.com'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.


Wix.com's Beneish M-Score Distribution in the Software Industry

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

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


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Wix.com 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 Wix.com 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 * 1.8391+0.528 * 0.9879+0.404 * 0.5592+0.892 * 1.2272+0.115 * 0.9156
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9502+4.679 * -0.17713-0.327 * 1.0096
=-2.52

* 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 (Dec24) TTM:Last Year (Dec23) TTM:
Total Receivables was MXN2,439 Mil.
Revenue was 9603.111 + 8755.745 + 7982.912 + 6966.71 = MXN33,308 Mil.
Gross Profit was 6607.482 + 5959.171 + 5387.429 + 4688.094 = MXN22,642 Mil.
Total Current Assets was MXN26,704 Mil.
Total Assets was MXN39,898 Mil.
Property, Plant and Equipment(Net PPE) was MXN11,012 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN586 Mil.
Selling, General, & Admin. Expense(SGA) was MXN11,345 Mil.
Total Current Liabilities was MXN31,605 Mil.
Long-Term Debt & Capital Lease Obligation was MXN7,699 Mil.
Net Income was 1001.574 + 527.267 + 723.974 + 398.343 = MXN2,651 Mil.
Non Operating Income was 284.388 + -3.761 + 0.696 + 3.502 = MXN285 Mil.
Cash Flow from Operations was 2789.158 + 2556.077 + 2198.944 + 1889.251 = MXN9,433 Mil.
Total Receivables was MXN1,081 Mil.
Revenue was 6853.709 + 6860.276 + 6685.727 + 6742.72 = MXN27,142 Mil.
Gross Profit was 4713.036 + 4612.489 + 4493.125 + 4408.879 = MXN18,228 Mil.
Total Current Assets was MXN18,166 Mil.
Total Assets was MXN30,624 Mil.
Property, Plant and Equipment(Net PPE) was MXN9,463 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN459 Mil.
Selling, General, & Admin. Expense(SGA) was MXN9,729 Mil.
Total Current Liabilities was MXN13,393 Mil.
Long-Term Debt & Capital Lease Obligation was MXN16,488 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)
=(2438.845 / 33308.478) / (1080.581 / 27142.432)
=0.07322 / 0.039812
=1.8391

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)
=(18227.529 / 27142.432) / (22642.176 / 33308.478)
=0.671551 / 0.679772
=0.9879

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 - (26703.638 + 11012.143) / 39897.83) / (1 - (18165.925 + 9462.974) / 30623.852)
=0.054691 / 0.097798
=0.5592

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
=33308.478 / 27142.432
=1.2272

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))
=(459.246 / (459.246 + 9462.974)) / (586.347 / (586.347 + 11012.143))
=0.046285 / 0.050554
=0.9156

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)
=(11344.877 / 33308.478) / (9729.182 / 27142.432)
=0.3406 / 0.358449
=0.9502

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)
=((7699.069 + 31604.978) / 39897.83) / ((16487.766 + 13393.208) / 30623.852)
=0.985117 / 0.975742
=1.0096

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
=(2651.158 - 284.825 - 9433.43) / 39897.83
=-0.17713

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.

Wix.com has a M-score of -2.52 suggests that the company is unlikely to be a manipulator.


Wix.com Beneish M-Score Related Terms

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Wix.com Business Description

Traded in Other Exchanges
Address
5 Yunitsman Street, Tel Aviv, ISR, 6936025
Wix.com is a software-as-a-service content management system platform that allows users to create, customize, and manage websites for themselves, or for clients. Wix is best known for its Wix Editor service for self-creators, but in recent years has invested heavily and introduced its Wix Studio offering for partners, who are agencies and developers. Wix also offers a range of business solutions such as payment services and marketing products.