NTSK (Netskope) Beneish M-Score: -4.36 (As of Jun. 25, 2026)


NTSK Netskope Inc NTSK
8 GF Score
Price $9.88
! 3 Warning Signs
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What is Netskope Beneish M-Score?

Netskope NTSK +4.00% 8 Beneish M-Score is -4.36 as of Jun. 25, 2026. GuruFocus rates NTSK with a GF Score™ of 8/100. The stock has 3 warning signs investors should review. Among 2,633 Software companies, Netskope ranks better than 93.73% on this metric.

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.

Good Sign:

Beneish M-Score -4.36 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

NTSK' s Beneish M-Score Range Over the Past 10 Years
Min: -4.56   Med: -4.46   Max: -4.36
Current: -4.36

During the past 3 years, the highest Beneish M-Score of Netskope was -4.36. The lowest was -4.56. And the median was -4.46.

Netskope Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Netskope'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.

Netskope Beneish M-Score Chart

Netskope Annual Data
Trend Jan24 Jan25 Jan26
Beneish M-Score
0.00 0.00 -4.56

Netskope Quarterly Data
Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 -4.56 -4.36

NTSK vs WEX, GTLB, BLSH: Beneish M-Score Comparison

For the Software - Infrastructure subindustry, Netskope'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.

Netskope Beneish M-Score vs Software Industry

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

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


NTSK
8GF Score
Netskope Inc NTSK
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Netskope 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 Netskope 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 * 0.9008+0.528 * 0.9633+0.404 * 0.4881+0.892 * 1.3093+0.115 * 1.0926
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.5394+4.679 * -0.405949-0.327 * 0.5567
=-4.36

* 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 (Apr26) TTM:Last Year (Apr25) TTM:
Total Receivables was $136.1 Mil.
Revenue was 201.592 + 196.33 + 184.173 + 170.758 = $752.9 Mil.
Gross Profit was 148.255 + 143.269 + 106.643 + 123.244 = $521.4 Mil.
Total Current Assets was $1,371.4 Mil.
Total Assets was $1,691.0 Mil.
Property, Plant and Equipment(Net PPE) was $123.1 Mil.
Depreciation, Depletion and Amortization(DDA) was $42.0 Mil.
Selling, General, & Admin. Expense(SGA) was $690.5 Mil.
Total Current Liabilities was $632.3 Mil.
Long-Term Debt & Capital Lease Obligation was $736.7 Mil.
Net Income was -116.496 + -56.77 + -453.075 + -90.301 = $-716.6 Mil.
Non Operating Income was -4.703 + 60.838 + -3.032 + -41.85 = $11.3 Mil.
Cash Flow from Operations was -53.913 + 18.123 + 11.236 + -16.878 = $-41.4 Mil.
 Total Receivables was $115.4 Mil.
Revenue was 157.736 + 148.486 + 138.532 + 130.253 = $575.0 Mil.
Gross Profit was 109.513 + 99.326 + 91.767 + 83.028 = $383.6 Mil.
Total Current Assets was $478.8 Mil.
Total Assets was $806.0 Mil.
Property, Plant and Equipment(Net PPE) was $135.3 Mil.
Depreciation, Depletion and Amortization(DDA) was $52.1 Mil.
Selling, General, & Admin. Expense(SGA) was $342.6 Mil.
Total Current Liabilities was $508.8 Mil.
Long-Term Debt & Capital Lease Obligation was $663.3 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)
=(136.131 / 752.853) / (115.427 / 575.007)
=0.18082 / 0.20074
=0.9008

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)
=(383.634 / 575.007) / (521.411 / 752.853)
=0.667181 / 0.69258
=0.9633

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 - (1371.359 + 123.117) / 1691.007) / (1 - (478.752 + 135.333) / 805.992)
=0.116221 / 0.2381
=0.4881

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
=752.853 / 575.007
=1.3093

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))
=(52.131 / (52.131 + 135.333)) / (42.032 / (42.032 + 123.117))
=0.278085 / 0.25451
=1.0926

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)
=(690.507 / 752.853) / (342.583 / 575.007)
=0.917187 / 0.595789
=1.5394

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)
=((736.66 + 632.268) / 1691.007) / ((663.339 + 508.757) / 805.992)
=0.809534 / 1.454228
=0.5567

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
=(-716.642 - 11.253 - -41.432) / 1691.007
=-0.405949

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.

Netskope has a M-score of -4.36 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 -4.36 mean?
Netskope (NTSK) has a Beneish M-Score of -4.36 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Netskope and its competitors. According to the industry distribution chart, Netskope ranks #165 out of 2633 companies in the Software industry, placing it in the top 6.3%.
Is Netskope's Beneish M-Score too high?
Netskope's current Beneish M-Score is -4.36. Based on the distribution chart, Netskope ranks #165 out of 2633 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Netskope has a GF Score™ of 8/100, reflecting its overall financial health beyond just this single metric.
How does Netskope's Beneish M-Score compare to WEX and GTLB?
According to the Software industry distribution chart, Netskope ranks #165 out of 2633 companies for Beneish M-Score. This places Netskope in the top 6% of its industry — outperforming the majority of peers. 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 Netskope and its competitors. Netskope's current Beneish M-Score is -4.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Netskope stock overvalued right now?
Netskope (NTSK) has a current Beneish M-Score of -4.36. The current Beneish M-Score is -4.36. Netskope's overall GF Score™ is 8/100 with 3 warning signs to review. 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 Netskope (NTSK), the current Beneish M-Score is -4.36 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.

Netskope Business Description

Other Exchanges Z2G:Germany
Address 2445 Augustine Drive, 3rd Floor, Suite 301, Santa Clara, CA, USA, 95054
Netskope Inc is redefining the security and networking of cloud and AI. The company has formed a cloud-native platform that offers converged security, networking services, and analytics technology stack to enable fast and secure AI, cloud, and web access at the edge. The products of the company include Netskope One SASE, Netskope One SSE, Cloud Access Security Broker (CASB), Next Generation Secure Web Gateway (SWG), Private Access, Cloud Firewall, SD-WAN, SkopeAI, and others.
8GF Score

Get the complete analysis for NTSK

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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