Zillow Group (MEX:Z) Beneish M-Score : -2.70 (As of Mar. 23, 2025)

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What is Zillow Group 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 -2.7 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

MEX:Z' s Beneish M-Score Range Over the Past 10 Years
Min: -5.47 Med: -2.56 Max: -1.47
Current: -2.7

During the past 13 years, the highest Beneish M-Score of Zillow Group was -1.47. The lowest was -5.47. And the median was -2.56.

Zillow Group Beneish M-Score Historical Data

The historical data trend for Zillow 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.

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Zillow Group Beneish M-Score Chart

Zillow Group Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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-2.78

-1.51

-5.47

-2.54

-2.70

Zillow Group 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															-2.54	-2.54	-2.53	-2.58	-2.70

Competitive Comparison of Zillow Group's Beneish M-Score

For the Internet Content & Information subindustry, Zillow 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.

Zillow Group's Beneish M-Score Distribution in the Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Zillow Group's Beneish M-Score distribution charts can be found below:

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

Zillow 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 Zillow Group 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 * 1.0652

0.528 * 1.026

0.404 * 1.1462

0.892 * 1.2496

0.115 * 0.9357

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9468

4.679 * -0.104163

0.327 * 0.5049

-2.45

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was MXN2,169 Mil.
Revenue was 11554.058 + 11440.064 + 10479.099 + 8779.419 = MXN42,253 Mil.
Gross Profit was 8759.394 + 8683.422 + 8097.486 + 6738.08 = MXN32,278 Mil.
Total Current Assets was MXN48,677 Mil.
Total Assets was MXN121,568 Mil.
Property, Plant and Equipment(Net PPE) was MXN2,153 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN4,730 Mil.
Selling, General, & Admin. Expense(SGA) was MXN24,887 Mil.
Total Current Liabilities was MXN17,331 Mil.
Long-Term Debt & Capital Lease Obligation was MXN1,731 Mil.
Net Income was -1084.496 + -393.806 + -311.442 + -381.714 = MXN-2,171 Mil.
Non Operating Income was 542.248 + 649.78 + 604.563 + 448.099 = MXN2,245 Mil.
Cash Flow from Operations was 2544.395 + 3367.041 + 1007.606 + 1327.7 = MXN8,247 Mil.

Total Receivables was MXN1,630 Mil.
Revenue was 8045.794 + 8639.773 + 8674.813 + 8453.725 = MXN33,814 Mil.
Gross Profit was 6093.755 + 6723.694 + 6891.848 + 6795.425 = MXN26,505 Mil.
Total Current Assets was MXN53,452 Mil.
Total Assets was MXN112,913 Mil.
Property, Plant and Equipment(Net PPE) was MXN2,137 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN3,850 Mil.
Selling, General, & Admin. Expense(SGA) was MXN21,035 Mil.
Total Current Liabilities was MXN16,482 Mil.
Long-Term Debt & Capital Lease Obligation was MXN18,587 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)
	=	(2168.993 / 42252.64)	/	(1629.528 / 33814.105)
	=	0.051334	/	0.048191
	=	1.0652

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)
	=	(26504.722 / 33814.105)	/	(32278.382 / 42252.64)
	=	0.783836	/	0.763938
	=	1.026

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 - (48677.204 + 2152.725) / 121567.875)	/	(1 - (53451.907 + 2137.397) / 112912.698)
	=	0.58188	/	0.507679
	=	1.1462

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
	=	42252.64	/	33814.105
	=	1.2496

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))
	=	(3849.725 / (3849.725 + 2137.397))	/	(4729.66 / (4729.66 + 2152.725))
	=	0.643001	/	0.687212
	=	0.9357

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)
	=	(24886.879 / 42252.64)	/	(21035.452 / 33814.105)
	=	0.589002	/	0.622091
	=	0.9468

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)
	=	((1731.023 + 17331.087) / 121567.875)	/	((18586.802 + 16481.995) / 112912.698)
	=	0.156802	/	0.310583
	=	0.5049

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
	=	(-2171.458 - 2244.69	-	8246.742)	/	121567.875
	=	-0.104163

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.

Zillow Group has a M-score of -2.45 suggests that the company is unlikely to be a manipulator.

Zillow Group Beneish M-Score Related Terms

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Zillow Group Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Interactive Media » Zillow Group Inc (MEX:Z) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

ZG:USA Z:USA 0ZG2:Germany Z2LL34:Brazil

Address

1301 Second Avenue, Floor 36, Seattle, WA, USA, 98101

Website

https://www.zillowgroup.com

Zillow Group Inc is an Internet-based real estate company that offers its customers an on-demand experience for selling, buying, renting, or financing with transparency and ease The group works with real estate agents, brokers, builders, property managers, and landlords to pair technology with top-notch service. The group has brands such as Zillow, Trulia, StreetEasy, Hotpads, Zillow Rentals, Zillow Premier Agent and others.