Take-Two Interactive Software Beneish M-Score Historical Data
The historical data trend for Take-Two Interactive 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.
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Take-Two Interactive Software Annual Data
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Trend |
Mar14 |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
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-2.48 |
-2.42 |
-2.78 |
-2.01 |
-1.96 |
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Take-Two Interactive Software Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
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-1.96 |
-1.96 |
-2.73 |
-2.63 |
-2.71 |
Competitive Comparison
For the Electronic Gaming & Multimedia subindustry, Take-Two Interactive 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.
Take-Two Interactive Software Beneish M-Score Distribution
For the Interactive Media industry and Communication Services sector, Take-Two Interactive Software's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Take-Two Interactive Software's Beneish M-Score falls into.
Take-Two Interactive 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 Take-Two Interactive Software 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 * 0.8501 | + | 0.528 * 1.4507 | + | 0.404 * 0.9971 | + | 0.892 * 1.1164 | + | 0.115 * 0.786 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9925 | + | 4.679 * -0.081654 | - | 0.327 * 1.0742 |
| = | -2.71 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $755 Mil.
Revenue was 1366.3 + 1299.2 + 1284.7 + 1446.2 = $5,396 Mil.
Gross Profit was 678.1 + 415.4 + 679.2 + 223.2 = $1,996 Mil.
Total Current Assets was $2,219 Mil.
Total Assets was $14,896 Mil.
Property, Plant and Equipment(Net PPE) was $717 Mil.
Depreciation, Depletion and Amortization(DDA) was $2,005 Mil.
Selling, General, & Admin. Expense(SGA) was $2,298 Mil.
Total Current Liabilities was $2,692 Mil.
Long-Term Debt & Capital Lease Obligation was $3,089 Mil.
Net Income was -91.6 + -543.6 + -206 + -610.3 = $-1,452 Mil.
Non Operating Income was -0.3 + -167.6 + 0.8 + -26.2 = $-193 Mil.
Cash Flow from Operations was -77 + 64.8 + 5 + -34.7 = $-42 Mil.
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Total Receivables was $796 Mil.
Revenue was 1407.8 + 1393.5 + 1102.4 + 930 = $4,834 Mil.
Gross Profit was 715.9 + 679.6 + 666.7 + 531.4 = $2,594 Mil.
Total Current Assets was $2,607 Mil.
Total Assets was $16,881 Mil.
Property, Plant and Equipment(Net PPE) was $681 Mil.
Depreciation, Depletion and Amortization(DDA) was $936 Mil.
Selling, General, & Admin. Expense(SGA) was $2,074 Mil.
Total Current Liabilities was $3,010 Mil.
Long-Term Debt & Capital Lease Obligation was $3,090 Mil.
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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) |
| = | (755 / 5396.4) | / | (795.5 / 4833.7) |
| = | 0.139908 | / | 0.164574 |
| | = | 0.8501 |
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) |
| = | (2593.6 / 4833.7) | / | (1995.9 / 5396.4) |
| = | 0.536566 | / | 0.369858 |
| | = | 1.4507 |
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 - (2218.5 + 717) / 14895.7) | / | (1 - (2606.7 + 680.5) / 16881.4) |
| = | 0.80293 | / | 0.805277 |
| | = | 0.9971 |
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 |
| = | 5396.4 | / | 4833.7 |
| | = | 1.1164 |
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)) |
| = | (935.7 / (935.7 + 680.5)) | / | (2004.7 / (2004.7 + 717)) |
| = | 0.578951 | / | 0.736562 |
| | = | 0.786 |
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) |
| = | (2297.8 / 5396.4) | / | (2073.7 / 4833.7) |
| = | 0.425802 | / | 0.429009 |
| | = | 0.9925 |
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) |
| = | ((3088.9 + 2692.4) / 14895.7) | / | ((3089.7 + 3009.8) / 16881.4) |
| = | 0.388119 | / | 0.361315 |
| | = | 1.0742 |
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 |
| = | (-1451.5 - -193.3 | - | -41.9) | / | 14895.7 |
| | = | -0.081654 |
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.
Take-Two Interactive Software has a M-score of -2.71 suggests that the company is unlikely to be a manipulator.
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