Elastic NV Beneish M-Score Historical Data
The historical data trend for Elastic NV'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.
Elastic NV Beneish M-Score Chart
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Elastic NV Annual Data
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| Beneish M-Score |
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-1.71 |
-3.08 |
-2.96 |
-3.05 |
-2.38 |
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Elastic NV Quarterly Data
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| Beneish M-Score |
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-3.01 |
-2.41 |
-2.38 |
-2.57 |
-2.63 |
Competitive Comparison of Elastic NV's Beneish M-Score
For the Software - Application subindustry, Elastic NV'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.
Elastic NV's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, Elastic NV's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Elastic NV's Beneish M-Score falls into.
Elastic NV 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 Elastic NV 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 * 0.901 | + | 0.528 * 0.9938 | + | 0.404 * 1.1544 | + | 0.892 * 1.1862 | + | 0.115 * 1.0536 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9666 | + | 4.679 * -0.080623 | - | 0.327 * 0.8512 |
| = | -2.66 |
* 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 (Oct24) TTM: | Last Year (Oct23) TTM: |
Total Receivables was €235 Mil.
Revenue was 335.401 + 320.321 + 312.219 + 301.065 = €1,269 Mil.
Gross Profit was 249.863 + 235.721 + 230.323 + 223.363 = €939 Mil.
Total Current Assets was €1,447 Mil.
Total Assets was €2,049 Mil.
Property, Plant and Equipment(Net PPE) was €20 Mil.
Depreciation, Depletion and Amortization(DDA) was €15 Mil.
Selling, General, & Admin. Expense(SGA) was €706 Mil.
Total Current Liabilities was €726 Mil.
Long-Term Debt & Capital Lease Obligation was €531 Mil.
Net Income was -23.363 + -45.387 + -38.305 + 161.682 = €55 Mil.
Non Operating Income was 8.28 + 10.206 + 4.667 + 7.865 = €31 Mil.
Cash Flow from Operations was 35.23 + 48.639 + 56.804 + 48.093 = €189 Mil.
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Total Receivables was €220 Mil.
Revenue was 294.15 + 265.553 + 255.306 + 254.797 = €1,070 Mil.
Gross Profit was 218.305 + 195.514 + 188.108 + 185.004 = €787 Mil.
Total Current Assets was €1,233 Mil.
Total Assets was €1,665 Mil.
Property, Plant and Equipment(Net PPE) was €22 Mil.
Depreciation, Depletion and Amortization(DDA) was €18 Mil.
Selling, General, & Admin. Expense(SGA) was €616 Mil.
Total Current Liabilities was €651 Mil.
Long-Term Debt & Capital Lease Obligation was €549 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) |
| = | (235.07 / 1269.006) | / | (219.941 / 1069.806) |
| = | 0.185239 | / | 0.20559 |
| | = | 0.901 |
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) |
| = | (786.931 / 1069.806) | / | (939.27 / 1269.006) |
| = | 0.735583 | / | 0.740162 |
| | = | 0.9938 |
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 - (1446.542 + 19.68) / 2048.517) | / | (1 - (1232.775 + 22.001) / 1664.68) |
| = | 0.284252 | / | 0.246236 |
| | = | 1.1544 |
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 |
| = | 1269.006 | / | 1069.806 |
| | = | 1.1862 |
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)) |
| = | (18.066 / (18.066 + 22.001)) | / | (14.723 / (14.723 + 19.68)) |
| = | 0.450895 | / | 0.427957 |
| | = | 1.0536 |
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) |
| = | (706.378 / 1269.006) | / | (616.1 / 1069.806) |
| = | 0.556639 | / | 0.575899 |
| | = | 0.9666 |
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) |
| = | ((531.326 + 725.889) / 2048.517) | / | ((549.48 + 650.808) / 1664.68) |
| = | 0.61372 | / | 0.721032 |
| | = | 0.8512 |
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 |
| = | (54.627 - 31.018 | - | 188.766) | / | 2048.517 |
| | = | -0.080623 |
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.
Elastic NV has a M-score of -2.66 suggests that the company is unlikely to be a manipulator.
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