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ForeScout Technologies Beneish M-Score

: 0.00 (As of Today)
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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 ForeScout Technologies's Beneish M-Score or its related term are showing as below:

During the past 6 years, the highest Beneish M-Score of ForeScout Technologies was 0.00. The lowest was 0.00. And the median was 0.00.


ForeScout Technologies Beneish M-Score Historical Data

The historical data trend for ForeScout 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.

ForeScout Technologies Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19
Beneish M-Score
Premium Member Only - - - -2.20 -3.54

ForeScout Technologies Quarterly Data
Dec14 Dec15 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20
Beneish M-Score 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 Premium Member Only -1.27 -1.91 -3.54 -4.05 -3.69

Competitive Comparison

For the Software - Application subindustry, ForeScout 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.

   

ForeScout Technologies Beneish M-Score Distribution

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

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



ForeScout 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 ForeScout 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 * 0.9681+0.528 * 1.0403+0.404 * 1.1737+0.892 * 0.987+0.115 * 0.8783
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.987+4.679 * -0.2565-0.327 * 1.1396
=-3.69

* 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 (Jun20) TTM:Last Year (Jun19) TTM:
Total Receivables was $63.9 Mil.
Revenue was 79.876 + 57.153 + 91.331 + 91.622 = $320.0 Mil.
Gross Profit was 60.405 + 37.556 + 70.306 + 69.925 = $238.2 Mil.
Total Current Assets was $147.0 Mil.
Total Assets was $339.7 Mil.
Property, Plant and Equipment(Net PPE) was $48.0 Mil.
Depreciation, Depletion and Amortization(DDA) was $12.6 Mil.
Selling, General, & Admin. Expense(SGA) was $264.4 Mil.
Total Current Liabilities was $172.6 Mil.
Long-Term Debt & Capital Lease Obligation was $29.2 Mil.
Net Income was -23.523 + -61.239 + -20.01 + -33.513 = $-138.3 Mil.
Non Operating Income was -0.287 + -3.113 + 0.422 + 0.374 = $-2.6 Mil.
Cash Flow from Operations was -30.308 + -14.463 + 10.164 + -13.941 = $-48.5 Mil.
Total Receivables was $66.9 Mil.
Revenue was 78.28 + 75.568 + 84.732 + 85.628 = $324.2 Mil.
Gross Profit was 60.824 + 56.568 + 67.246 + 66.431 = $251.1 Mil.
Total Current Assets was $198.8 Mil.
Total Assets was $384.2 Mil.
Property, Plant and Equipment(Net PPE) was $46.0 Mil.
Depreciation, Depletion and Amortization(DDA) was $10.3 Mil.
Selling, General, & Admin. Expense(SGA) was $271.4 Mil.
Total Current Liabilities was $171.4 Mil.
Long-Term Debt & Capital Lease Obligation was $28.9 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)
=(63.924 / 319.982) / (66.903 / 324.208)
=0.19977374 / 0.20635826
=0.9681

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)
=(251.069 / 324.208) / (238.192 / 319.982)
=0.77440717 / 0.74439187
=1.0403

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 - (147.043 + 47.983) / 339.731) / (1 - (198.829 + 45.972) / 384.245)
=0.42593993 / 0.36290388
=1.1737

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
=319.982 / 324.208
=0.987

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))
=(10.264 / (10.264 + 45.972)) / (12.587 / (12.587 + 47.983))
=0.18251654 / 0.20780915
=0.8783

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)
=(264.407 / 319.982) / (271.438 / 324.208)
=0.82631836 / 0.83723412
=0.987

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)
=((29.211 + 172.603) / 339.731) / ((28.926 + 171.369) / 384.245)
=0.59404058 / 0.52126898
=1.1396

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
=(-138.285 - -2.604 - -48.548) / 339.731
=-0.2565

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.

ForeScout Technologies has a M-score of -3.69 suggests that the company is unlikely to be a manipulator.


ForeScout Technologies Beneish M-Score Related Terms

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ForeScout Technologies Business Description

ForeScout Technologies logo
Traded in Other Exchanges
N/A
Address
190 West Tasman Drive, San Jose, CA, USA, 95134
ForeScout Technologies Inc is a US-based company that provides an agentless approach to network security to address the growth of mobile computing, IoT (Internet of Things) and cloud computing. The company provides solutions that provide the ability to see devices, including non-traditional devices, and connects to the network and enforce policy-based control of these devices. The product line of the company includes CounterACT, Extended Modules, Enterprise Manager, IoT, and others. The majority of the company's revenue comes from the United States.
Executives
Salem Enrique T director SYMANTEC CORPORATION 20330 STEVENS CREEK BLVD. CUPERTINO CA 95014
Jensen Mark Edwin director 6303 SNOWBERRY LANE NIWOT CO 80503
Gouw Ranzetta Theresia director 428 UNIVERSITY AVE PALO ALTO CA 94301
Milliken Darren J. officer: SVP, GC & Corp Compliance Ofcr 190 WEST TASMAN DRIVE SAN JOSE CA 95134
Mcelligott Kathleen D. director MCKESSON CORPORATION 6555 NORTH STATE HWY 161 IRVING TX 75039
Dewalt David G director
Hackenson Elizabeth director C/O MCI 22001 LOUDOUN COUNTY PARKWAY AXBURN VA 20147
Beer James A director MCKESSON CORPORATION ONE POST STREET SAN FRANCISCO CA 94104
Clark Gregory S. director EMULEX CORPORATION 3333 SUSAN STREET COSTA MESA CA 92626
Noviello Nicholas R officer: Chief Operating Officer 495 E JAVA DRIVE SUNNYVALE CA 94089
Meister Keith A. director C/O ICAHN CAPITAL LP 767 FIFTH AVENUE, SUITE 4700 NEW YORK NY 10153
Meritech Management Associates Ii L.l.c. 10 percent owner 245 LYTTON AVENUE SUITE 350 PALO ALTO CA 94301
Meritech Capital Associates Ii L.l.c. 10 percent owner 245 LYTTON AVENUE SUITE 125 PALO ALTO CA 94301
Meritech Capital Affiliates Ii Lp 10 percent owner 245 LYTTON AVENUE SUITE 350 PALO ALTO CA 94301
Swartz James R 10 percent owner P O BOX 2816 PARK CIRY UT 84060

ForeScout Technologies Headlines

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