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Xperi (XPER) Beneish M-Score : -2.61 (As of Mar. 03, 2025)


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What is Xperi 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.

Good Sign:

Beneish M-Score -2.61 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XPER' s Beneish M-Score Range Over the Past 10 Years
Min: -3.55   Med: -3.08   Max: -2.61
Current: -2.61

During the past 5 years, the highest Beneish M-Score of Xperi was -2.61. The lowest was -3.55. And the median was -3.08.


Xperi Beneish M-Score Historical Data

The historical data trend for Xperi'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.

Xperi Beneish M-Score Chart

Xperi Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24
Beneish M-Score
- - - -3.55 -2.61

Xperi Quarterly Data
Dec20 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
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 -3.55 -3.52 -3.42 -2.82 -2.61

Competitive Comparison of Xperi's Beneish M-Score

For the Software - Application subindustry, Xperi'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.


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

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

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



Xperi 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 Xperi 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 * 1.247+0.528 * 1.0037+0.404 * 1.0567+0.892 * 0.947+0.115 * 1.1126
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9868+4.679 * -0.086807-0.327 * 0.8428
=-2.61

* 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 (Dec24) TTM:Last Year (Dec23) TTM:
Total Receivables was $141.8 Mil.
Revenue was 122.362 + 132.891 + 119.591 + 118.844 = $493.7 Mil.
Gross Profit was 94.799 + 105.407 + 90.638 + 89.088 = $379.9 Mil.
Total Current Assets was $304.9 Mil.
Total Assets was $667.8 Mil.
Property, Plant and Equipment(Net PPE) was $74.6 Mil.
Depreciation, Depletion and Amortization(DDA) was $56.0 Mil.
Selling, General, & Admin. Expense(SGA) was $218.1 Mil.
Total Current Liabilities was $185.3 Mil.
Long-Term Debt & Capital Lease Obligation was $19.9 Mil.
Net Income was 46.216 + -16.805 + -30.299 + -13.12 = $-14.0 Mil.
Non Operating Income was 76.364 + 0 + 0 + 22.934 = $99.3 Mil.
Cash Flow from Operations was 1.229 + -4.648 + -2.134 + -49.787 = $-55.3 Mil.
Total Receivables was $120.1 Mil.
Revenue was 137.233 + 130.39 + 126.872 + 126.839 = $521.3 Mil.
Gross Profit was 103.666 + 103.977 + 96.016 + 99.047 = $402.7 Mil.
Total Current Assets was $316.9 Mil.
Total Assets was $673.6 Mil.
Property, Plant and Equipment(Net PPE) was $81.5 Mil.
Depreciation, Depletion and Amortization(DDA) was $74.4 Mil.
Selling, General, & Admin. Expense(SGA) was $233.4 Mil.
Total Current Liabilities was $165.1 Mil.
Long-Term Debt & Capital Lease Obligation was $80.6 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)
=(141.82 / 493.688) / (120.098 / 521.334)
=0.287266 / 0.230367
=1.247

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)
=(402.706 / 521.334) / (379.932 / 493.688)
=0.772453 / 0.769579
=1.0037

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 - (304.872 + 74.555) / 667.76) / (1 - (316.917 + 81.469) / 673.635)
=0.431791 / 0.408603
=1.0567

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
=493.688 / 521.334
=0.947

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))
=(74.397 / (74.397 + 81.469)) / (56.014 / (56.014 + 74.555))
=0.477314 / 0.428999
=1.1126

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)
=(218.106 / 493.688) / (233.403 / 521.334)
=0.441789 / 0.447703
=0.9868

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)
=((19.932 + 185.349) / 667.76) / ((80.598 + 165.112) / 673.635)
=0.307417 / 0.364752
=0.8428

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
=(-14.008 - 99.298 - -55.34) / 667.76
=-0.086807

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.

Xperi has a M-score of -2.61 suggests that the company is unlikely to be a manipulator.


Xperi Business Description

Traded in Other Exchanges
N/A
Address
2190 Gold Street, San Jose, CA, USA, 95002
Xperi Inc consumer and entertainment technology company. Its offering comprises a portfolio of software and services. Its business is divided into four categories based on the products delivered and customers served: Pay-TV, Consumer Electronics, Connected Car, and Platform Solutions. It generates the majority of its revenue from the Consumer Electronics segment.
Executives
Jon Kirchner director, officer: CEO & President C/O XPERI HOLDING CORPORATION, 3025 ORCHARD PARKWAY, SAN JOSE CA 95134
Robert J Andersen officer: Chief Financial Officer C/O XPERI HOLDING CORPORATION, 3025 ORCHARD PARKWAY, SAN JOSE CA 95134
Rebecca Marquez officer: See Remarks C/O XPERI INC., SAN JOSE CA 95002
David C Habiger director C/O XPERI HOLDING CORPORATION, 3025 ORCHARD PARKWAY, SAN JOSE CA 95134
Darcy Antonellis director 3900 DALLAS PKWY, SUITE 500, PLANO TX 75093
Laura Durr director C/O XPERI HOLDING CORPORATION, 3025 ORCHARD PARKWAY, SAN JOSE CA 95134
Christopher A Seams director C/O XPERI HOLDING CORPORATION, 3025 ORCHARD PARKWAY, SAN JOSE CA 95134
Matthew Milne officer: Chief Revenue Officer C/O XPERI HOLDING CORPORATION, 3025 ORCHARD PARKWAY, SAN JOSE CA 95134
Geir Skaaden officer: Chief Products & Services Off. C/O XPERI HOLDING CORPORATION, 3025 ORCHARD PARKWAY, SAN JOSE CA 95134
Xperi Holding Corp 10 percent owner 3025 ORCHARD PARKWAY, SAN JOSE CA 95134