Zendesk Beneish M-Score Historical Data
The historical data trend for Zendesk'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.
Zendesk Beneish M-Score Chart
|
Zendesk Annual Data
|
|
Trend |
Dec12 |
Dec13 |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-3.17 |
-2.85 |
-2.84 |
-2.69 |
-2.90 |
|
Zendesk Quarterly Data
|
|
Dec17 |
Mar18 |
Jun18 |
Sep18 |
Dec18 |
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-3.06 |
-2.90 |
-3.06 |
-3.21 |
-3.29 |
Competitive Comparison of Zendesk's Beneish M-Score
For the Software - Application subindustry, Zendesk'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.
Zendesk's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, Zendesk's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Zendesk's Beneish M-Score falls into.
Zendesk 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 Zendesk 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 * 0.9124 | + | 0.528 * 0.9822 | + | 0.404 * 0.665 | + | 0.892 * 1.2735 | + | 0.115 * 0.8127 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0363 | + | 4.679 * -0.165026 | - | 0.327 * 1.0779 |
| = | -3.29 |
* 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 (Sep22) TTM: | Last Year (Sep21) TTM: |
Total Receivables was $218 Mil.
Revenue was 416.861 + 407.208 + 388.327 + 375.365 = $1,588 Mil.
Gross Profit was 337.399 + 324.418 + 312.649 + 298.345 = $1,273 Mil.
Total Current Assets was $1,717 Mil.
Total Assets was $2,476 Mil.
Property, Plant and Equipment(Net PPE) was $131 Mil.
Depreciation, Depletion and Amortization(DDA) was $38 Mil.
Selling, General, & Admin. Expense(SGA) was $1,102 Mil.
Total Current Liabilities was $937 Mil.
Long-Term Debt & Capital Lease Obligation was $1,184 Mil.
Net Income was -59.093 + -95.082 + -66.946 + -61.855 = $-283 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 29.938 + 49.025 + 11.212 + 35.479 = $126 Mil.
|
Total Receivables was $187 Mil.
Revenue was 346.974 + 318.216 + 298.048 + 283.498 = $1,247 Mil.
Gross Profit was 276.748 + 251.473 + 237.154 + 216.279 = $982 Mil.
Total Current Assets was $1,269 Mil.
Total Assets was $2,321 Mil.
Property, Plant and Equipment(Net PPE) was $167 Mil.
Depreciation, Depletion and Amortization(DDA) was $38 Mil.
Selling, General, & Admin. Expense(SGA) was $835 Mil.
Total Current Liabilities was $810 Mil.
Long-Term Debt & Capital Lease Obligation was $1,035 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) |
| = | (217.831 / 1587.761) | / | (187.46 / 1246.736) |
| = | 0.137194 | / | 0.150361 |
| | = | 0.9124 |
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) |
| = | (981.654 / 1246.736) | / | (1272.811 / 1587.761) |
| = | 0.787379 | / | 0.801639 |
| | = | 0.9822 |
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 - (1717.069 + 131.059) / 2476.159) | / | (1 - (1269.356 + 166.617) / 2321.24) |
| = | 0.253631 | / | 0.381377 |
| | = | 0.665 |
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 |
| = | 1587.761 | / | 1246.736 |
| | = | 1.2735 |
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)) |
| = | (37.598 / (37.598 + 166.617)) | / | (38.386 / (38.386 + 131.059)) |
| = | 0.18411 | / | 0.22654 |
| | = | 0.8127 |
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) |
| = | (1102.283 / 1587.761) | / | (835.202 / 1246.736) |
| = | 0.694237 | / | 0.669911 |
| | = | 1.0363 |
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) |
| = | ((1184.374 + 936.569) / 2476.159) | / | ((1034.921 + 809.651) / 2321.24) |
| = | 0.856546 | / | 0.794649 |
| | = | 1.0779 |
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 |
| = | (-282.976 - 0 | - | 125.654) | / | 2476.159 |
| | = | -0.165026 |
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.
Zendesk has a M-score of -3.29 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
ZEN has been successfully added to your