Zoom Video Communications Beneish M-Score Historical Data
The historical data trend for Zoom Video Communications'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.
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Zoom Video Communications Annual Data
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Trend |
Jan17 |
Jan18 |
Jan19 |
Jan20 |
Jan21 |
Jan22 |
Jan23 |
| Beneish M-Score |
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|
|
- |
-2.23 |
-0.48 |
-1.50 |
-2.87 |
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Zoom Video Communications Quarterly Data
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Oct18 |
Jan19 |
Apr19 |
Jul19 |
Oct19 |
Jan20 |
Apr20 |
Jul20 |
Oct20 |
Jan21 |
Apr21 |
Jul21 |
Oct21 |
Jan22 |
Apr22 |
Jul22 |
Oct22 |
Jan23 |
Apr23 |
Jul23 |
| Beneish M-Score |
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-1.74 |
-1.83 |
-2.87 |
-2.85 |
-3.07 |
Competitive Comparison
For the Software - Application subindustry, Zoom Video Communications'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.
Zoom Video Communications Beneish M-Score Distribution
For the Software industry and Technology sector, Zoom Video Communications's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Zoom Video Communications's Beneish M-Score falls in comparison to its industry or sector. The grey bar indicates the Beneish M-Score's extreme value range as defined by GuruFocus.
Zoom Video Communications 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 Zoom Video Communications 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 * 1.0732 | + | 0.528 * 0.9971 | + | 0.404 * 1.0541 | + | 0.892 * 1.0392 | + | 0.115 * 0.7273 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.2425 | + | 4.679 * -0.14619 | - | 0.327 * 0.8493 |
| = | -3.07 |
* 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 (Jul23) TTM: | Last Year (Jul22) TTM: |
Total Receivables was $587 Mil.
Revenue was 1138.676 + 1105.364 + 1117.803 + 1101.899 = $4,464 Mil.
Gross Profit was 872.117 + 841.417 + 823.449 + 831.234 = $3,368 Mil.
Total Current Assets was $7,051 Mil.
Total Assets was $8,923 Mil.
Property, Plant and Equipment(Net PPE) was $346 Mil.
Depreciation, Depletion and Amortization(DDA) was $96 Mil.
Selling, General, & Admin. Expense(SGA) was $2,386 Mil.
Total Current Liabilities was $1,767 Mil.
Long-Term Debt & Capital Lease Obligation was $62 Mil.
Net Income was 181.974 + 15.444 + -104.05 + 48.353 = $142 Mil.
Non Operating Income was 72.755 + 33.488 + 90.343 + -11.759 = $185 Mil.
Cash Flow from Operations was 335.971 + 418.487 + 211.588 + 295.314 = $1,261 Mil.
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Total Receivables was $527 Mil.
Revenue was 1099.458 + 1073.8 + 1071.376 + 1050.756 = $4,295 Mil.
Gross Profit was 825.847 + 811.979 + 814.029 + 779.799 = $3,232 Mil.
Total Current Assets was $6,414 Mil.
Total Assets was $8,048 Mil.
Property, Plant and Equipment(Net PPE) was $328 Mil.
Depreciation, Depletion and Amortization(DDA) was $62 Mil.
Selling, General, & Admin. Expense(SGA) was $1,848 Mil.
Total Current Liabilities was $1,867 Mil.
Long-Term Debt & Capital Lease Obligation was $76 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) |
| = | (587.476 / 4463.742) | / | (526.754 / 4295.39) |
| = | 0.131611 | / | 0.122632 |
| | = | 1.0732 |
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) |
| = | (3231.654 / 4295.39) | / | (3368.217 / 4463.742) |
| = | 0.752354 | / | 0.754573 |
| | = | 0.9971 |
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 - (7050.992 + 346.13) / 8923.108) | / | (1 - (6414.401 + 327.575) / 8047.598) |
| = | 0.171015 | / | 0.162237 |
| | = | 1.0541 |
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 |
| = | 4463.742 | / | 4295.39 |
| | = | 1.0392 |
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)) |
| = | (61.652 / (61.652 + 327.575)) | / | (96.368 / (96.368 + 346.13)) |
| = | 0.158396 | / | 0.217782 |
| | = | 0.7273 |
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) |
| = | (2385.959 / 4463.742) | / | (1847.811 / 4295.39) |
| = | 0.53452 | / | 0.430185 |
| | = | 1.2425 |
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) |
| = | ((62.181 + 1767.473) / 8923.108) | / | ((75.954 + 1866.888) / 8047.598) |
| = | 0.205047 | / | 0.241419 |
| | = | 0.8493 |
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 |
| = | (141.721 - 184.827 | - | 1261.36) | / | 8923.108 |
| | = | -0.14619 |
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.
Zoom Video Communications has a M-score of -3.07 suggests that the company is unlikely to be a manipulator.
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