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SciQuest (SciQuest) Beneish M-Score : 0.00 (As of Apr. 26, 2024)


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What is SciQuest Beneish M-Score?

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.

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

During the past 13 years, the highest Beneish M-Score of SciQuest was 0.00. The lowest was 0.00. And the median was 0.00.


SciQuest Beneish M-Score Historical Data

The historical data trend for SciQuest'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.

* Premium members only.

SciQuest Beneish M-Score Chart

SciQuest Annual Data
Trend Dec02 Dec03 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.46 -2.82 -2.92 -2.86 -2.73

SciQuest Quarterly Data
Jun11 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.92 -2.98 -2.44 -2.73 -2.56

Competitive Comparison of SciQuest's Beneish M-Score

For the Software - Application subindustry, SciQuest'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.


SciQuest's Beneish M-Score Distribution in the Software Industry

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

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



SciQuest 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 SciQuest 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 * 1.1206+0.528 * 1.0044+0.404 * 0.9288+0.892 * 1.0375+0.115 * 1.0011
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9342+4.679 * -0.047933-0.327 * 0.9482
=-2.56

* 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 (Mar16) TTM:Last Year (Mar15) TTM:
Total Receivables was $10.1 Mil.
Revenue was 26.895 + 26.655 + 26.256 + 26.501 = $106.3 Mil.
Gross Profit was 18.452 + 18.527 + 17.847 + 17.799 = $72.6 Mil.
Total Current Assets was $149.7 Mil.
Total Assets was $262.7 Mil.
Property, Plant and Equipment(Net PPE) was $15.0 Mil.
Depreciation, Depletion and Amortization(DDA) was $12.1 Mil.
Selling, General, & Admin. Expense(SGA) was $38.7 Mil.
Total Current Liabilities was $61.1 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 Mil.
Net Income was 1.058 + 1.517 + 0.252 + 0.382 = $3.2 Mil.
Non Operating Income was 0 + 0.102 + -0.176 + -0.047 = $-0.1 Mil.
Cash Flow from Operations was -4.062 + 9.087 + 9.794 + 1.104 = $15.9 Mil.
Total Receivables was $8.7 Mil.
Revenue was 25.941 + 25.568 + 25.67 + 25.287 = $102.5 Mil.
Gross Profit was 17.613 + 17.471 + 17.816 + 17.411 = $70.3 Mil.
Total Current Assets was $139.3 Mil.
Total Assets was $256.1 Mil.
Property, Plant and Equipment(Net PPE) was $14.0 Mil.
Depreciation, Depletion and Amortization(DDA) was $11.3 Mil.
Selling, General, & Admin. Expense(SGA) was $39.9 Mil.
Total Current Liabilities was $62.8 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 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)
=(10.126 / 106.307) / (8.71 / 102.466)
=0.095252 / 0.085004
=1.1206

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)
=(70.311 / 102.466) / (72.625 / 106.307)
=0.686189 / 0.683163
=1.0044

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 - (149.705 + 15.045) / 262.722) / (1 - (139.278 + 13.988) / 256.09)
=0.372911 / 0.401515
=0.9288

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
=106.307 / 102.466
=1.0375

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))
=(11.255 / (11.255 + 13.988)) / (12.082 / (12.082 + 15.045))
=0.445866 / 0.445387
=1.0011

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)
=(38.718 / 106.307) / (39.947 / 102.466)
=0.364209 / 0.389856
=0.9342

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)
=((0 + 61.073) / 262.722) / ((0 + 62.786) / 256.09)
=0.232462 / 0.245172
=0.9482

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
=(3.209 - -0.121 - 15.923) / 262.722
=-0.047933

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.

SciQuest has a M-score of -2.56 suggests that the company is unlikely to be a manipulator.


SciQuest Beneish M-Score Related Terms

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SciQuest (SciQuest) Business Description

Traded in Other Exchanges
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Address
SciQuest Inc was incorporated in November, 1995. The Company provides cloud-based business automation solutions for spend management. Its solutions include spend analytics solutions that cleanse and classify spend data from a wide variety of sources and formats putting data and analytics to work to drive and measure cost savings; sourcing solutions that create events, manage bids and award contracts automatically to simplify and optimize the bidding process; supplier management solutions that facilitate on-boarding, maintaining and managing supplier relationships and give visibility into which suppliers are able to support goals; contract lifecycle management solutions that automate the contract lifecycle from contract authoring, automated workflow approvals to a fully searchable archive of executed contracts; procurement solutions that automate the purchasing process and drive contract compliance; inventory management solutions that facilitate finding, sourcing and tracking chemicals and research supplies; accounts payable solutions that automate the invoice processing and vendor payment processes; and a supplier network that provides a single platform for all supplier interactions. Its spend management solutions provide a return on investment for its customers by facilitating the reduction of spending on goods and services, enhancing visibility and control over spending decisions and practices as well as optimizing the efficiency of key business processes. The procurement, supplier management and accounts payable solutions leverage its managed Company Supplier Network, which facilitates its customers doing business with many thousands of suppliers and spending billions of dollars annually. The Company delivers cloud-based solutions using a Software-as-a-Service, or SaaS, model. The Company offers its customers various services including Client Partners, Supplier Enablement Services, Implementation Services, Customer Support, and Business Process Optimization Services. The Company competes with relatively small specialty software vendors, large ERP vendors and internally developed and maintained solutions. Specialty vendors or niche providers that compete with one or more or the Company's solutions, including Aravo, Basware, BravoSolution, Coupa, Determine, ESM Solutions, GXS, Hubwoo, OB10, Perfect Commerce, Periscope, Verian and Zycus; and Enterprise software application vendors, including SAP AG, Oracle, IBM, Infor and Workday.
Executives
Jeffrey T Barber director 6501 WESTON PARKWAY, SUITE 200 CARY NC 27513
Timothy Buckley director C/O RED HAT, INC, 1801 VARSITY DRIVE, RALEIGH NC 27606
Rudy Howard officer: Chief Financial Officer 322 WINDCHASE LANE, WILMINGTON NC 28409
Noel J Fenton director C/O TRINITY VENTURES, 325 SHARON PARK DR., #458, MENLO PARK CA 94025
Intersouth Affiliates V Lp 10 percent owner 406 BLACKWELL STREET, SUITE 200, DURHAM NC 27701
Intersouth Partners Vi Lp 10 percent owner
Intersouth Partners V, L.p. 10 percent owner 406 BLACKWELL STREET, SUITE 200, DURHAM NC 27701

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