Guidewire Software Beneish M-Score Historical Data
The historical data trend for Guidewire 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.
Guidewire Software Beneish M-Score Chart
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Guidewire Software Annual Data
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Jul24 |
| Beneish M-Score |
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-2.73 |
-2.85 |
-2.51 |
-2.76 |
-3.02 |
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Guidewire Software Quarterly Data
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Jul20 |
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Apr25 |
| Beneish M-Score |
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-3.03 |
-3.02 |
-2.96 |
-2.89 |
-2.60 |
Competitive Comparison of Guidewire Software's Beneish M-Score
For the Software - Application subindustry, Guidewire 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.
Guidewire Software's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, Guidewire Software's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Guidewire Software's Beneish M-Score falls into.
Guidewire 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 Guidewire 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 * 1.1524 | + | 0.528 * 0.9409 | + | 0.404 * 1.0309 | + | 0.892 * 1.1861 | + | 0.115 * 0.9041 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.94 | + | 4.679 * -0.071311 | - | 0.327 * 1.2296 |
| = | -2.60 |
* 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 (Apr25) TTM: | Last Year (Apr24) TTM: |
Total Receivables was $314 Mil.
Revenue was 293.508 + 289.48 + 262.901 + 291.515 = $1,137 Mil.
Gross Profit was 182.698 + 179.152 + 158.392 + 186.436 = $707 Mil.
Total Current Assets was $1,313 Mil.
Total Assets was $2,488 Mil.
Property, Plant and Equipment(Net PPE) was $97 Mil.
Depreciation, Depletion and Amortization(DDA) was $23 Mil.
Selling, General, & Admin. Expense(SGA) was $398 Mil.
Total Current Liabilities was $406 Mil.
Long-Term Debt & Capital Lease Obligation was $707 Mil.
Net Income was 45.991 + -37.277 + 9.139 + 16.759 = $35 Mil.
Non Operating Income was 34.074 + -66.289 + -4.055 + -1.504 = $-38 Mil.
Cash Flow from Operations was 32.35 + 85.991 + -62.305 + 193.777 = $250 Mil.
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Total Receivables was $230 Mil.
Revenue was 240.678 + 240.897 + 207.407 + 269.958 = $959 Mil.
Gross Profit was 142.227 + 142.406 + 112.292 + 163.678 = $561 Mil.
Total Current Assets was $1,082 Mil.
Total Assets was $2,040 Mil.
Property, Plant and Equipment(Net PPE) was $101 Mil.
Depreciation, Depletion and Amortization(DDA) was $21 Mil.
Selling, General, & Admin. Expense(SGA) was $357 Mil.
Total Current Liabilities was $705 Mil.
Long-Term Debt & Capital Lease Obligation was $37 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) |
| = | (314.221 / 1137.404) | / | (229.875 / 958.94) |
| = | 0.276262 | / | 0.239718 |
| | = | 1.1524 |
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) |
| = | (560.603 / 958.94) | / | (706.678 / 1137.404) |
| = | 0.584607 | / | 0.621308 |
| | = | 0.9409 |
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 - (1312.969 + 97.328) / 2488.071) | / | (1 - (1081.511 + 101.292) / 2040.025) |
| = | 0.433177 | / | 0.420202 |
| | = | 1.0309 |
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 |
| = | 1137.404 | / | 958.94 |
| | = | 1.1861 |
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)) |
| = | (21.452 / (21.452 + 101.292)) | / | (23.322 / (23.322 + 97.328)) |
| = | 0.17477 | / | 0.193303 |
| | = | 0.9041 |
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) |
| = | (397.51 / 1137.404) | / | (356.515 / 958.94) |
| = | 0.349489 | / | 0.37178 |
| | = | 0.94 |
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) |
| = | ((706.709 + 405.914) / 2488.071) | / | ((37.12 + 704.807) / 2040.025) |
| = | 0.447183 | / | 0.363685 |
| | = | 1.2296 |
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 |
| = | (34.612 - -37.774 | - | 249.813) | / | 2488.071 |
| | = | -0.071311 |
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.
Guidewire Software has a M-score of -2.60 suggests that the company is unlikely to be a manipulator.
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