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Cyxtera Technologies (Cyxtera Technologies) Beneish M-Score : 0.00 (As of Apr. 25, 2024)


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What is Cyxtera Technologies 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.

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

During the past 3 years, the highest Beneish M-Score of Cyxtera Technologies was 0.00. The lowest was 0.00. And the median was 0.00.


Cyxtera Technologies Beneish M-Score Historical Data

The historical data trend for Cyxtera Technologies'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.

Cyxtera Technologies Beneish M-Score Chart

Cyxtera Technologies Annual Data
Trend Dec20 Dec21 Dec22
Beneish M-Score
- - -2.92

Cyxtera Technologies Quarterly Data
Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only - - -3.21 -2.92 -2.80

Competitive Comparison of Cyxtera Technologies's Beneish M-Score

For the Information Technology Services subindustry, Cyxtera Technologies'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.


Cyxtera Technologies's Beneish M-Score Distribution in the Software Industry

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

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



Cyxtera Technologies 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 Cyxtera Technologies 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 * 1.4049+0.528 * 0.9771+0.404 * 0.7204+0.892 * 1.066+0.115 * 0.9722
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2497+4.679 * -0.106369-0.327 * 1.2402
=-2.80

* 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 (Mar23) TTM:Last Year (Mar22) TTM:
Total Receivables was $65.6 Mil.
Revenue was 196.7 + 193 + 186.6 + 184.1 = $760.4 Mil.
Gross Profit was 92.9 + 87.7 + 86.3 + 85.7 = $352.6 Mil.
Total Current Assets was $147.4 Mil.
Total Assets was $2,769.6 Mil.
Property, Plant and Equipment(Net PPE) was $1,870.5 Mil.
Depreciation, Depletion and Amortization(DDA) was $240.7 Mil.
Selling, General, & Admin. Expense(SGA) was $155.2 Mil.
Total Current Liabilities was $343.2 Mil.
Long-Term Debt & Capital Lease Obligation was $2,268.5 Mil.
Net Income was -325.4 + -210.2 + -55.9 + -48.1 = $-639.6 Mil.
Non Operating Income was -283.2 + -155.1 + -3.7 + -1.4 = $-443.4 Mil.
Cash Flow from Operations was 13.2 + 23.4 + 62.3 + -0.5 = $98.4 Mil.
Total Receivables was $43.8 Mil.
Revenue was 182.4 + 178.4 + 177.1 + 175.4 = $713.3 Mil.
Gross Profit was 84.4 + 75.3 + 83.6 + 79.9 = $323.2 Mil.
Total Current Assets was $122.9 Mil.
Total Assets was $3,316.1 Mil.
Property, Plant and Equipment(Net PPE) was $1,943.8 Mil.
Depreciation, Depletion and Amortization(DDA) was $242.3 Mil.
Selling, General, & Admin. Expense(SGA) was $116.5 Mil.
Total Current Liabilities was $279.2 Mil.
Long-Term Debt & Capital Lease Obligation was $2,242.2 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)
=(65.6 / 760.4) / (43.8 / 713.3)
=0.08627 / 0.061405
=1.4049

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)
=(323.2 / 713.3) / (352.6 / 760.4)
=0.453105 / 0.463703
=0.9771

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 - (147.4 + 1870.5) / 2769.6) / (1 - (122.9 + 1943.8) / 3316.1)
=0.271411 / 0.376768
=0.7204

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
=760.4 / 713.3
=1.066

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))
=(242.3 / (242.3 + 1943.8)) / (240.7 / (240.7 + 1870.5))
=0.110837 / 0.114011
=0.9722

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)
=(155.2 / 760.4) / (116.5 / 713.3)
=0.204103 / 0.163325
=1.2497

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)
=((2268.5 + 343.2) / 2769.6) / ((2242.2 + 279.2) / 3316.1)
=0.942988 / 0.760351
=1.2402

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
=(-639.6 - -443.4 - 98.4) / 2769.6
=-0.106369

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.

Cyxtera Technologies has a M-score of -2.80 suggests that the company is unlikely to be a manipulator.


Cyxtera Technologies Beneish M-Score Related Terms

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Cyxtera Technologies (Cyxtera Technologies) Business Description

Traded in Other Exchanges
N/A
Address
2333 Ponce De Leon Boulevard, Suite 900, Coral Gables, FL, USA, 33134
Cyxtera Technologies Inc is engaged in data center colocation and interconnection services. The company operates a footprint of more than 60 data centers around the world, providing services to more than 2,300 leading enterprises and U.S. federal government agencies. Cyxtera brings proven operational excellence, global scale, flexibility and customer-focused innovation together to provide a comprehensive portfolio of data center and interconnection services.
Executives
Jeffrey C Smith director, 10 percent owner 201 E LAS OLAS BOULEVARD, SUITE 1000, FORT LAUDERDALE FL 33301
Starboard Value Lp director, 10 percent owner 777 THIRD AVENUE, 18TH FLOOR, NEW YORK NY 10017
Starboard Value & Opportunity Master Fund L Lp director, 10 percent owner 777 THIRD AVENUE, 18TH FLOOR, NEW YORK NY 10017
Scott D. Vogel director 885 PARK AVENUE, NEW YORK NY 10075
Frederick Arnold director CHATSWORTH ADVISORS, INC., 3 YORK ROAD, LARCHMONT NY 10538
Roger Meltzer director 80 PINE STREET, C/O CAHILL GORDON& REINDELL LLP, NEW YORK NY 10005
Benjamin Phillips director 2 ALHAMBRA PLAZA, SUITE PH-1-B, CORAL GABLES FL 33134
James Randolph Rowland officer: Chief Operating Officer C/O CYXTERA TECHNOLOGIES, INC., 2333 PONCE DE LEON, SUITE 900, CORAL CABLES FL 33134
Victor Semah officer: Chief Legal Officer C/O CYXTERA TECHNOLOGIES, INC., 2333 PONCE DE LEON, SUITE 900, CORAL CABLES FL 33134
Carlos Ignacio Sagasta officer: Chief Financial Officer C/O CYXTERA TECHNOLOGIES, INC., 2333 PONCE DE LEON, SUITE 900, CORAL CABLES FL 33134
Fonseca Nelson A. Jr director, officer: See Remarks ONE BISCAYNE TOWER, 2 S. BISCAYNE BLVD, SUITE 2800, MIAMI FL 33131
Edmundo Miranda officer: See Remarks C/O SPIRIT AIRLINES, INC., 2800 EXECUTIVE WAY, MIRAMAR FL 33025
Bcec-sis Holdings L.p. 10 percent owner ARNOLD HOUSE PO BOX 273, ST JULIAN'S AVENUE, ST PETER PORT Y7 GY1 3RD
Gregory L Waters director ONSEMI C/O H. SPENCER, 5701 NORTH PIMA ROAD, SCOTTSDALE AZ 85250
Starboard Value L Lp director, 10 percent owner 777 THIRD AVENUE, 18TH FLOOR, NEW YORK NY 10017