IDT Beneish M-Score Historical Data
The historical data trend for IDT'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.
IDT Beneish M-Score Chart
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IDT Annual Data
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Jul24 |
| Beneish M-Score |
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-2.08 |
-1.98 |
-2.50 |
-2.94 |
-2.28 |
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IDT Quarterly Data
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Jul20 |
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Apr25 |
| Beneish M-Score |
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-3.35 |
-2.28 |
-2.26 |
-2.11 |
-2.71 |
Competitive Comparison of IDT's Beneish M-Score
For the Telecom Services subindustry, IDT'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.
IDT's Beneish M-Score Distribution in the Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, IDT's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where IDT's Beneish M-Score falls into.
IDT 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 IDT 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 * 1.0849 | + | 0.528 * 0.8894 | + | 0.404 * 0.8054 | + | 0.892 * 1.0191 | + | 0.115 * 0.9579 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.024 | + | 4.679 * -0.045135 | - | 0.327 * 0.8879 |
| = | -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 (Apr25) TTM: | Last Year (Apr24) TTM: |
Total Receivables was $43 Mil.
Revenue was 301.985 + 303.349 + 309.566 + 308.832 = $1,224 Mil.
Gross Profit was 111.962 + 112.11 + 107.627 + 102.193 = $434 Mil.
Total Current Assets was $498 Mil.
Total Assets was $601 Mil.
Property, Plant and Equipment(Net PPE) was $41 Mil.
Depreciation, Depletion and Amortization(DDA) was $21 Mil.
Selling, General, & Admin. Expense(SGA) was $285 Mil.
Total Current Liabilities was $287 Mil.
Long-Term Debt & Capital Lease Obligation was $1 Mil.
Net Income was 21.692 + 20.269 + 17.249 + 36.819 = $96 Mil.
Non Operating Income was 2.206 + -0.214 + -0.46 + 0.147 = $2 Mil.
Cash Flow from Operations was 75.742 + 20.153 + 0.164 + 25.413 = $121 Mil.
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Total Receivables was $39 Mil.
Revenue was 299.643 + 296.098 + 301.205 + 303.807 = $1,201 Mil.
Gross Profit was 97.044 + 96.927 + 93.994 + 90.706 = $379 Mil.
Total Current Assets was $409 Mil.
Total Assets was $517 Mil.
Property, Plant and Equipment(Net PPE) was $43 Mil.
Depreciation, Depletion and Amortization(DDA) was $20 Mil.
Selling, General, & Admin. Expense(SGA) was $273 Mil.
Total Current Liabilities was $278 Mil.
Long-Term Debt & Capital Lease Obligation was $2 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) |
| = | (43.084 / 1223.732) | / | (38.967 / 1200.753) |
| = | 0.035207 | / | 0.032452 |
| | = | 1.0849 |
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) |
| = | (378.671 / 1200.753) | / | (433.892 / 1223.732) |
| = | 0.315361 | / | 0.354565 |
| | = | 0.8894 |
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 - (498.274 + 40.993) / 600.908) | / | (1 - (408.532 + 42.885) / 517.302) |
| = | 0.10258 | / | 0.127363 |
| | = | 0.8054 |
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 |
| = | 1223.732 | / | 1200.753 |
| | = | 1.0191 |
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)) |
| = | (20.406 / (20.406 + 42.885)) | / | (20.797 / (20.797 + 40.993)) |
| = | 0.322416 | / | 0.336575 |
| | = | 0.9579 |
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) |
| = | (284.883 / 1223.732) | / | (272.994 / 1200.753) |
| = | 0.232799 | / | 0.227352 |
| | = | 1.024 |
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) |
| = | ((1.213 + 287.162) / 600.908) | / | ((1.753 + 277.831) / 517.302) |
| = | 0.479899 | / | 0.540466 |
| | = | 0.8879 |
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 |
| = | (96.029 - 1.679 | - | 121.472) | / | 600.908 |
| | = | -0.045135 |
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.
IDT has a M-score of -2.71 suggests that the company is unlikely to be a manipulator.
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