NTT Data Group Beneish M-Score Historical Data
The historical data trend for NTT Data 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.
NTT Data Group Beneish M-Score Chart
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NTT Data Group Annual Data
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Mar25 |
| Beneish M-Score |
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-2.85 |
-2.64 |
-2.03 |
-2.62 |
-2.58 |
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NTT Data Group Quarterly Data
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Sep20 |
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Jun25 |
| Beneish M-Score |
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-2.55 |
-2.61 |
-2.48 |
-2.58 |
-2.72 |
NTDTY vs FIS, FISV, LDOS: Beneish M-Score Comparison
For the Information Technology Services subindustry, NTT Data 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.
NTT Data Group Beneish M-Score vs Software Industry
For the Software industry and Technology sector, NTT Data Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where NTT Data Group's Beneish M-Score falls into.
NTT Data 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 NTT Data Group 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 * 1.0794 | + | 0.528 * 0.9721 | + | 0.404 * 0.9314 | + | 0.892 * 1.0527 | + | 0.115 * 1.0782 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.038 | + | 4.679 * -0.044401 | - | 0.327 * 1.0309 |
| = | -2.62 |
* 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 (Jun25) TTM: | Last Year (Jun24) TTM: |
Total Receivables was $10,456 Mil.
Revenue was 7643.565 + 8258.318 + 7591.342 + 7890.657 = $31,384 Mil.
Gross Profit was 2128.001 + 2386.111 + 2123.229 + 2187.977 = $8,825 Mil.
Total Current Assets was $18,254 Mil.
Total Assets was $53,320 Mil.
Property, Plant and Equipment(Net PPE) was $17,090 Mil.
Depreciation, Depletion and Amortization(DDA) was $2,477 Mil.
Selling, General, & Admin. Expense(SGA) was $6,638 Mil.
Total Current Liabilities was $18,990 Mil.
Long-Term Debt & Capital Lease Obligation was $12,633 Mil.
Net Income was 145.934 + 308.525 + 251.427 + 255.663 = $962 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 1469.24 + 1228.74 + 754.657 + -123.634 = $3,329 Mil.
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Total Receivables was $9,202 Mil.
Revenue was 7044.837 + 7951.116 + 7623.542 + 7193.73 = $29,813 Mil.
Gross Profit was 1852.002 + 2299.654 + 2021.635 + 1976.387 = $8,150 Mil.
Total Current Assets was $15,949 Mil.
Total Assets was $48,148 Mil.
Property, Plant and Equipment(Net PPE) was $14,770 Mil.
Depreciation, Depletion and Amortization(DDA) was $2,334 Mil.
Selling, General, & Admin. Expense(SGA) was $6,075 Mil.
Total Current Liabilities was $17,909 Mil.
Long-Term Debt & Capital Lease Obligation was $9,791 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) |
| = | (10456.059 / 31383.882) | / | (9201.793 / 29813.225) |
| = | 0.333167 | / | 0.308648 |
| | = | 1.0794 |
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) |
| = | (8149.678 / 29813.225) | / | (8825.318 / 31383.882) |
| = | 0.273358 | / | 0.281205 |
| | = | 0.9721 |
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 - (18253.545 + 17090.118) / 53319.542) | / | (1 - (15949.468 + 14769.809) / 48147.586) |
| = | 0.337135 | / | 0.361977 |
| | = | 0.9314 |
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 |
| = | 31383.882 | / | 29813.225 |
| | = | 1.0527 |
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)) |
| = | (2334.04 / (2334.04 + 14769.809)) | / | (2476.554 / (2476.554 + 17090.118)) |
| = | 0.136463 | / | 0.12657 |
| | = | 1.0782 |
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) |
| = | (6638.09 / 31383.882) | / | (6075.281 / 29813.225) |
| = | 0.211513 | / | 0.203778 |
| | = | 1.038 |
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) |
| = | ((12633.242 + 18990.21) / 53319.542) | / | ((9791.22 + 17909.458) / 48147.586) |
| = | 0.593093 | / | 0.575328 |
| | = | 1.0309 |
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 |
| = | (961.549 - 0 | - | 3329.003) | / | 53319.542 |
| | = | -0.044401 |
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.
NTT Data Group has a M-score of -2.62 suggests that the company is unlikely to be a manipulator.
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