MRINQ (Marin Software) Beneish M-Score: 0.00 (As of Jun. 25, 2026)

What is Marin Software Beneish M-Score?

Marin Software MRINQ +6.67% 12 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates MRINQ with a GF Score™ of 12/100.

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.

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

During the past 13 years, the highest Beneish M-Score of Marin Software was 0.00. The lowest was 0.00. And the median was 0.00.

Marin Software Beneish M-Score Related Terms

Marin Software Beneish M-Score Historical Data

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The historical data trend for Marin Software'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.

Marin Software Beneish M-Score Chart

Marin Software Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-5.05

-4.12

-3.19

-2.67

-3.42

Marin Software Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-3.27	-3.42	-3.29	-2.88	-2.89

MRINQ vs BBLR, RTCJD, XYLB: Beneish M-Score Comparison

For the Software - Application subindustry, Marin Software'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.

Marin Software Beneish M-Score vs Software Industry

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

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

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Marin Software Inc MRINQ

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Marin Software 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 Marin Software 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 * 1.0092

0.528 * 0.5688

0.404 * 2.2172

0.892 * 0.9011

0.115 * 0.7335

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.7668

4.679 * -0.111166

0.327 * 1.244

-2.89

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was $3.66 Mil.
Revenue was 4.282 + 4.045 + 4.031 + 4.35 = $16.71 Mil.
Gross Profit was 2.579 + 2.355 + 2.288 + 2.216 = $9.44 Mil.
Total Current Assets was $10.73 Mil.
Total Assets was $12.18 Mil.
Property, Plant and Equipment(Net PPE) was $0.93 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.96 Mil.
Selling, General, & Admin. Expense(SGA) was $11.58 Mil.
Total Current Liabilities was $3.49 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -2.326 + -2.018 + -2.411 + -5.263 = $-12.02 Mil.
Non Operating Income was -0.176 + 0.138 + 0.104 + -3.135 = $-3.07 Mil.
Cash Flow from Operations was -2.341 + -1.576 + -1.729 + -1.949 = $-7.60 Mil.

Total Receivables was $4.03 Mil.
Revenue was 4.438 + 4.36 + 4.583 + 5.161 = $18.54 Mil.
Gross Profit was 1.351 + 1.186 + 1.343 + 2.078 = $5.96 Mil.
Total Current Assets was $19.06 Mil.
Total Assets was $25.34 Mil.
Property, Plant and Equipment(Net PPE) was $5.79 Mil.
Depreciation, Depletion and Amortization(DDA) was $5.72 Mil.
Selling, General, & Admin. Expense(SGA) was $16.76 Mil.
Total Current Liabilities was $5.05 Mil.
Long-Term Debt & Capital Lease Obligation was $0.78 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)
	=	(3.661 / 16.708)	/	(4.026 / 18.542)
	=	0.219117	/	0.217129
	=	1.0092

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)
	=	(5.958 / 18.542)	/	(9.438 / 16.708)
	=	0.321325	/	0.564879
	=	0.5688

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 - (10.728 + 0.934) / 12.18)	/	(1 - (19.06 + 5.792) / 25.338)
	=	0.042529	/	0.019181
	=	2.2172

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
	=	16.708	/	18.542
	=	0.9011

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))
	=	(5.719 / (5.719 + 5.792))	/	(1.961 / (1.961 + 0.934))
	=	0.496829	/	0.677375
	=	0.7335

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)
	=	(11.58 / 16.708)	/	(16.76 / 18.542)
	=	0.693081	/	0.903894
	=	0.7668

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)
	=	((0 + 3.487) / 12.18)	/	((0.782 + 5.049) / 25.338)
	=	0.286289	/	0.230129
	=	1.244

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
	=	(-12.018 - -3.069	-	-7.595)	/	12.18
	=	-0.111166

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.

Marin Software has a M-score of -2.89 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of 0.00 mean?

Marin Software (MRINQ) has a Beneish M-Score of 0.00 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Marin Software and its competitors.

Is Marin Software's Beneish M-Score too high?

Marin Software's current Beneish M-Score is 0.00. Overall, Marin Software has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.

How does Marin Software's Beneish M-Score compare to BBLR and RTCJD?

Marin Software's Beneish M-Score of 0.00 can be compared against companies in the Software industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Beneish M-Score for a Software company?

A good Beneish M-Score depends on the Software industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Beneish M-Score mean?

A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Marin Software and its competitors. Marin Software's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Marin Software stock overvalued right now?

Marin Software (MRINQ) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Marin Software's overall GF Score™ is 12/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Beneish M-Score calculated?

Beneish M-Score is calculated from a company's financial statements. For Marin Software (MRINQ), the current Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Marin Software Business Description

Industry Technology Software

Comparable Companies BBLR RTCJD XYLB CLRI FRGT HSTA SBIG FTSP OMQS ALDS XTER:SAP CRM UBER INTU NOW TSX:SHOP ADBE ADP CDNS MSTR

Address 149 New Montgomery Street, 4th Floor, San Francisco, CA, USA, 94105

Website https://www.marinsoftware.com

Marin Software Inc provides a cloud-based digital advertising management solution for search, display, social, and mobile advertising channels to improve financial performance, realize efficiencies and time savings, and improve business decisions. The company's enterprise marketing software platform is offered as an integrated software-as-a-service (SaaS) solution for advertisers and agencies. Its software solution is designed to help its customers measure the effectiveness of their advertising campaigns through its reporting and analytics capabilities; and manage and execute campaigns through its user interface and underlying technology that streamlines and automates functions. All the business activity of the firm is functioned through the geographical regions of The United States.

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