Accenture Beneish M-Score Historical Data
The historical data trend for Accenture'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.
Accenture Beneish M-Score Chart
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Accenture Annual Data
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| Beneish M-Score |
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-2.60 |
-2.97 |
-2.62 |
-2.48 |
-2.68 |
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Accenture Quarterly Data
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May19 |
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| Beneish M-Score |
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-2.60 |
-2.66 |
-2.68 |
-2.68 |
-2.60 |
Competitive Comparison of Accenture's Beneish M-Score
For the Information Technology Services subindustry, Accenture'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.
Accenture's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, Accenture's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Accenture's Beneish M-Score falls into.
Accenture 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 Accenture 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 * 1.0595 | + | 0.528 * 0.9863 | + | 0.404 * 1.1265 | + | 0.892 * 0.9804 | + | 0.115 * 0.9151 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0192 | + | 4.679 * -0.04599 | - | 0.327 * 0.9132 |
| = | -2.60 |
* 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 (Feb24) TTM: | Last Year (Feb23) TTM: |
Total Receivables was €12,126 Mil.
Revenue was 14646.149 + 14991.256 + 14658.428 + 15239.418 = €59,535 Mil.
Gross Profit was 4522.341 + 5033.897 + 4751.554 + 5086.744 = €19,395 Mil.
Total Current Assets was €18,845 Mil.
Total Assets was €47,562 Mil.
Property, Plant and Equipment(Net PPE) was €3,795 Mil.
Depreciation, Depletion and Amortization(DDA) was €1,314 Mil.
Selling, General, & Admin. Expense(SGA) was €10,215 Mil.
Total Current Liabilities was €14,958 Mil.
Long-Term Debt & Capital Lease Obligation was €2,192 Mil.
Net Income was 1552.594 + 1823.462 + 1259.007 + 1849.196 = €6,484 Mil.
Non Operating Income was -5.239 + -33.004 + -36.696 + 185.64 = €111 Mil.
Cash Flow from Operations was 1947.667 + 460.661 + 3126.409 + 3026.221 = €8,561 Mil.
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Total Receivables was €11,674 Mil.
Revenue was 14770.424 + 15448.594 + 15223.148 + 15286.228 = €60,728 Mil.
Gross Profit was 4515.671 + 5087.605 + 4881.758 + 5027.738 = €19,513 Mil.
Total Current Assets was €19,671 Mil.
Total Assets was €44,577 Mil.
Property, Plant and Equipment(Net PPE) was €4,172 Mil.
Depreciation, Depletion and Amortization(DDA) was €1,284 Mil.
Selling, General, & Admin. Expense(SGA) was €10,223 Mil.
Total Current Liabilities was €15,270 Mil.
Long-Term Debt & Capital Lease Obligation was €2,332 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) |
| = | (12125.627 / 59535.251) | / | (11674.223 / 60728.394) |
| = | 0.203671 | / | 0.192237 |
| | = | 1.0595 |
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) |
| = | (19512.772 / 60728.394) | / | (19394.536 / 59535.251) |
| = | 0.321312 | / | 0.325766 |
| | = | 0.9863 |
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 - (18844.817 + 3795.021) / 47562.026) | / | (1 - (19670.935 + 4172.058) / 44577.288) |
| = | 0.523993 | / | 0.465131 |
| | = | 1.1265 |
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 |
| = | 59535.251 | / | 60728.394 |
| | = | 0.9804 |
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)) |
| = | (1283.884 / (1283.884 + 4172.058)) | / | (1313.62 / (1313.62 + 3795.021)) |
| = | 0.235318 | / | 0.257137 |
| | = | 0.9151 |
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) |
| = | (10214.976 / 59535.251) | / | (10223.192 / 60728.394) |
| = | 0.171579 | / | 0.168343 |
| | = | 1.0192 |
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) |
| = | ((2192.25 + 14958.085) / 47562.026) | / | ((2332.306 + 15270.454) / 44577.288) |
| = | 0.360589 | / | 0.394882 |
| | = | 0.9132 |
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 |
| = | (6484.259 - 110.701 | - | 8560.958) | / | 47562.026 |
| | = | -0.04599 |
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.
Accenture has a M-score of -2.60 suggests that the company is unlikely to be a manipulator.
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