Datto Holding Beneish M-Score Historical Data
The historical data trend for Datto Holding'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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Datto Holding Annual Data
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Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
| Beneish M-Score |
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- |
- |
- |
-2.72 |
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Datto Holding Quarterly Data
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Dec18 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
| Beneish M-Score |
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- |
-2.89 |
-2.77 |
-2.72 |
-2.60 |
Competitive Comparison
For the Software - Infrastructure subindustry, Datto Holding'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.
Datto Holding Beneish M-Score Distribution
For the Software industry and Technology sector, Datto Holding's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Datto Holding's Beneish M-Score falls into.
Datto Holding 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 Datto Holding 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 * 0.8686 | + | 0.528 * 1.0137 | + | 0.404 * 0.9573 | + | 0.892 * 1.1957 | + | 0.115 * 0.9093 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0711 | + | 4.679 * -0.030867 | - | 0.327 * 0.9856 |
| = | -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 (Mar22) TTM: | Last Year (Mar21) TTM: |
Total Receivables was $13.4 Mil.
Revenue was 170.781 + 164.254 + 157.892 + 151.602 = $644.5 Mil.
Gross Profit was 121.331 + 115.118 + 112.144 + 108.693 = $457.3 Mil.
Total Current Assets was $294.6 Mil.
Total Assets was $1,990.4 Mil.
Property, Plant and Equipment(Net PPE) was $140.5 Mil.
Depreciation, Depletion and Amortization(DDA) was $62.7 Mil.
Selling, General, & Admin. Expense(SGA) was $261.6 Mil.
Total Current Liabilities was $91.6 Mil.
Long-Term Debt & Capital Lease Obligation was $30.8 Mil.
Net Income was 7.947 + 5.747 + 13.485 + 16.916 = $44.1 Mil.
Non Operating Income was 0.672 + -0.163 + -0.338 + 0.095 = $0.3 Mil.
Cash Flow from Operations was 15.07 + 26.257 + 32.012 + 31.93 = $105.3 Mil.
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Total Receivables was $12.9 Mil.
Revenue was 144.909 + 138.992 + 130.667 + 124.463 = $539.0 Mil.
Gross Profit was 106.354 + 96.183 + 94.805 + 90.345 = $387.7 Mil.
Total Current Assets was $213.5 Mil.
Total Assets was $1,865.9 Mil.
Property, Plant and Equipment(Net PPE) was $129.3 Mil.
Depreciation, Depletion and Amortization(DDA) was $50.4 Mil.
Selling, General, & Admin. Expense(SGA) was $204.3 Mil.
Total Current Liabilities was $81.1 Mil.
Long-Term Debt & Capital Lease Obligation was $35.3 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) |
| = | (13.419 / 644.529) | / | (12.92 / 539.031) |
| = | 0.02082 | / | 0.023969 |
| | = | 0.8686 |
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) |
| = | (387.687 / 539.031) | / | (457.286 / 644.529) |
| = | 0.71923 | / | 0.709489 |
| | = | 1.0137 |
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 - (294.647 + 140.469) / 1990.445) | / | (1 - (213.535 + 129.289) / 1865.913) |
| = | 0.781398 | / | 0.81627 |
| | = | 0.9573 |
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 |
| = | 644.529 | / | 539.031 |
| | = | 1.1957 |
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)) |
| = | (50.397 / (50.397 + 129.289)) | / | (62.656 / (62.656 + 140.469)) |
| = | 0.280473 | / | 0.30846 |
| | = | 0.9093 |
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) |
| = | (261.619 / 644.529) | / | (204.264 / 539.031) |
| = | 0.405907 | / | 0.378947 |
| | = | 1.0711 |
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) |
| = | ((30.761 + 91.626) / 1990.445) | / | ((35.303 + 81.108) / 1865.913) |
| = | 0.061487 | / | 0.062388 |
| | = | 0.9856 |
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 |
| = | (44.095 - 0.266 | - | 105.269) | / | 1990.445 |
| | = | -0.030867 |
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.
Datto Holding has a M-score of -2.60 suggests that the company is unlikely to be a manipulator.
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