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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 -2.15 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Palantir Technologies's Beneish M-Score or its related term are showing as below:
During the past 6 years, the highest Beneish M-Score of Palantir Technologies was -2.15. The lowest was -3.44. And the median was -2.81.
The historical data trend for Palantir Technologies'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.
Palantir Technologies Annual Data | |||||||||||||||
Trend | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||
Beneish M-Score | Get a 7-Day Free Trial | - | - | -3.44 | -2.64 | -2.73 |
Palantir Technologies Quarterly Data | ||||||||||||||||||||
Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
Beneish M-Score | Get a 7-Day Free Trial | -2.98 | -2.60 | -2.65 | -2.73 | -2.15 |
For the Software - Infrastructure subindustry, Palantir Technologies'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.
For the Software industry and Technology sector, Palantir Technologies's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Palantir Technologies's Beneish M-Score falls into.
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 Palantir Technologies 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 * 1.63 | + | 0.528 * 0.9703 | + | 0.404 * 0.749 | + | 0.892 * 1.1761 | + | 0.115 * 0.672 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 0.8205 | + | 4.679 * -0.069317 | - | 0.327 * 0.8665 | |||||||
= | -2.15 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was $487 Mil. Revenue was 634.338 + 608.35 + 558.159 + 533.317 = $2,334 Mil. Gross Profit was 518.082 + 499.711 + 450.237 + 426.418 = $1,894 Mil. Total Current Assets was $4,436 Mil. Total Assets was $4,807 Mil. Property, Plant and Equipment(Net PPE) was $221 Mil. Depreciation, Depletion and Amortization(DDA) was $33 Mil. Selling, General, & Admin. Expense(SGA) was $1,273 Mil. Total Current Liabilities was $751 Mil. Long-Term Debt & Capital Lease Obligation was $163 Mil. Net Income was 105.53 + 93.391 + 71.505 + 28.127 = $299 Mil. Non Operating Income was -13.507 + -3.956 + 3.864 + -9.024 = $-23 Mil. Cash Flow from Operations was 129.579 + 301.172 + 133.443 + 90.192 = $654 Mil. |
Total Receivables was $254 Mil. Revenue was 525.186 + 508.624 + 477.88 + 473.01 = $1,985 Mil. Gross Profit was 417.541 + 404.313 + 370.269 + 370.786 = $1,563 Mil. Total Current Assets was $3,256 Mil. Total Assets was $3,683 Mil. Property, Plant and Equipment(Net PPE) was $273 Mil. Depreciation, Depletion and Amortization(DDA) was $27 Mil. Selling, General, & Admin. Expense(SGA) was $1,319 Mil. Total Current Liabilities was $601 Mil. Long-Term Debt & Capital Lease Obligation was $206 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) |
= | (486.986 / 2334.164) | / | (254.041 / 1984.7) | |
= | 0.208634 | / | 0.128 | |
= | 1.63 |
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) | |
= | (1562.909 / 1984.7) | / | (1894.448 / 2334.164) | |
= | 0.787479 | / | 0.811617 | |
= | 0.9703 |
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 - (4436.064 + 220.613) / 4807.079) | / | (1 - (3256.147 + 273.134) / 3683.138) | |
= | 0.031288 | / | 0.041773 | |
= | 0.749 |
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 | |
= | 2334.164 | / | 1984.7 | |
= | 1.1761 |
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)) |
= | (26.53 / (26.53 + 273.134)) | / | (33.472 / (33.472 + 220.613)) | |
= | 0.088532 | / | 0.131735 | |
= | 0.672 |
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) |
= | (1273.152 / 2334.164) | / | (1319.378 / 1984.7) | |
= | 0.545442 | / | 0.664775 | |
= | 0.8205 |
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) |
= | ((163.013 + 750.553) / 4807.079) | / | ((206.422 + 601.413) / 3683.138) | |
= | 0.190046 | / | 0.219333 | |
= | 0.8665 |
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 | |
= | (298.553 - -22.623 | - | 654.386) | / | 4807.079 | |
= | -0.069317 |
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.
Palantir Technologies has a M-score of -2.15 suggests that the company is unlikely to be a manipulator.
Thank you for viewing the detailed overview of Palantir Technologies's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Alexandra W. Schiff | director | C/O PALANTIR TECHNOLOGIES INC., 1200 17TH STREET, FLOOR 15, DENVER CO 80202 |
Alexander D. Moore | director | C/O PALANTIR TECHNOLOGIES, INC., 1200 17TH STREET, FLOOR 15, DENVER CO 80202 |
Stat Lauren Elaina Friedman | director | C/O PALANTIR TECHNOLOGIES INC., 1200 17TH STREET, FLOOR 15, DENVER CO 80202 |
Heather A. Planishek | officer: See Remarks | C/O PALANTIR TECHNOLOGIES INC., 1200 17TH STREET, FLOOR 15, DENVER CO 80202 |
Stephen Andrew Cohen | director, officer: President and Secretary | C/O PALANTIR TECHNOLOGIES INC., 1200 17TH STREET, FLOOR 15, DENVER CO 80202 |
Ryan D. Taylor | officer: See Remarks | C/O PALANTIR TECHNOLOGIES INC., 1200 17TH STREET, FLOOR 15, DENVER CO 80202 |
David A. Glazer | officer: CFO and Treasurer | C/O PALANTIR TECHNOLOGIES INC., 1200 17TH STREET, FLOOR 15, DENVER CO 80202 |
Shyam Sankar | officer: Chief Operating Officer & EVP | C/O PALANTIR TECHNOLOGIES INC., 1200 17TH STREET, FLOOR 15, DENVER CO 80202 |
Alexander C. Karp | director, officer: Chief Executive Officer | C/O PALANTIR TECHNOLOGIES INC., 1200 17TH STREET, FLOOR 15, DENVER CO 80202 |
Eric H. Woersching | director | C/O PALANTIR TECHNOLOGIES INC., 1200 17TH STREET, FLOOR 15, DENVER CO 80202 |
Jeffrey Buckley | officer: Chief Accounting Officer | C/O PALANTIR TECHNOLOGIES INC., 1200 17TH STREET, FLOOR 15, DENVER CO 80202 |
Spencer M Rascoff | director | 212 26TH STREET, UNIT 317, SANTA MONICA CA 90402 |
Peter Thiel | director, 10 percent owner | 9200 SUNSET BOULEVARD, SUITE 1110, WEST HOLLYWOOD CA 90069 |
Matthew A. Long | officer: General Counsel | C/O PALANTIR TECHNOLOGIES INC., 1555 BLAKE STREET, SUITE 250, DENVER CO 80202 |
Sompo Holdings, Inc. | 10 percent owner | 26-1, NISHI-SHINJUKU 1-CHOME, SHINJUKU-KU, TOKYO M0 160-8338 |
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