Palantir Technologies Beneish M-Score Historical Data
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 Beneish M-Score Chart
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Palantir Technologies Annual Data
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Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
-3.44 |
-2.64 |
-2.73 |
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Palantir Technologies Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
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Dec22 |
Mar23 |
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Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-2.98 |
-2.60 |
-2.65 |
-2.73 |
-2.15 |
Competitive Comparison of Palantir Technologies's Beneish M-Score
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.
Palantir Technologies's Beneish M-Score Distribution in the Software Industry
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.
Palantir Technologies 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 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 * 1.6642 | + | 0.528 * 0.97 | + | 0.404 * 0.749 | + | 0.892 * 1.1346 | + | 0.115 * 0.6836 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8198 | + | 4.679 * -0.069467 | - | 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 €448 Mil.
Revenue was 583.591 + 557.857 + 522.995 + 492.252 = €2,157 Mil.
Gross Profit was 476.635 + 458.235 + 421.872 + 393.584 = €1,750 Mil.
Total Current Assets was €4,081 Mil.
Total Assets was €4,423 Mil.
Property, Plant and Equipment(Net PPE) was €203 Mil.
Depreciation, Depletion and Amortization(DDA) was €31 Mil.
Selling, General, & Admin. Expense(SGA) was €1,176 Mil.
Total Current Liabilities was €691 Mil.
Long-Term Debt & Capital Lease Obligation was €150 Mil.
Net Income was 97.088 + 85.64 + 67 + 25.961 = €276 Mil.
Non Operating Income was -12.426 + -3.628 + 3.621 + -8.329 = €-21 Mil.
Cash Flow from Operations was 119.213 + 276.175 + 125.036 + 83.247 = €604 Mil.
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Total Receivables was €237 Mil.
Revenue was 490.524 + 480.141 + 482.659 + 447.467 = €1,901 Mil.
Gross Profit was 389.983 + 381.671 + 373.972 + 350.764 = €1,496 Mil.
Total Current Assets was €3,041 Mil.
Total Assets was €3,440 Mil.
Property, Plant and Equipment(Net PPE) was €255 Mil.
Depreciation, Depletion and Amortization(DDA) was €25 Mil.
Selling, General, & Admin. Expense(SGA) was €1,265 Mil.
Total Current Liabilities was €562 Mil.
Long-Term Debt & Capital Lease Obligation was €193 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) |
| = | (448.027 / 2156.695) | / | (237.274 / 1900.791) |
| = | 0.207738 | / | 0.124829 |
| | = | 1.6642 |
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) |
| = | (1496.39 / 1900.791) | / | (1750.326 / 2156.695) |
| = | 0.787246 | / | 0.811578 |
| | = | 0.97 |
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 - (4081.179 + 202.964) / 4422.513) | / | (1 - (3041.241 + 255.107) / 3440.051) |
| = | 0.031288 | / | 0.041774 |
| | = | 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 |
| = | 2156.695 | / | 1900.791 |
| | = | 1.1346 |
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)) |
| = | (25.363 / (25.363 + 255.107)) | / | (30.942 / (30.942 + 202.964)) |
| = | 0.09043 | / | 0.132284 |
| | = | 0.6836 |
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) |
| = | (1176.454 / 2156.695) | / | (1264.794 / 1900.791) |
| = | 0.545489 | / | 0.665404 |
| | = | 0.8198 |
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) |
| = | ((149.972 + 690.509) / 4422.513) | / | ((192.798 + 561.72) / 3440.051) |
| = | 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 |
| = | (275.689 - -20.762 | - | 603.671) | / | 4422.513 |
| | = | -0.069467 |
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.
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