ZoomInfo Technologies Beneish M-Score Historical Data
The historical data trend for ZoomInfo 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.
ZoomInfo Technologies Beneish M-Score Chart
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ZoomInfo Technologies Annual Data
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Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
-2.32 |
-1.90 |
-2.54 |
-2.67 |
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ZoomInfo Technologies Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
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Sep20 |
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Dec23 |
| Beneish M-Score |
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-2.54 |
-2.50 |
-2.52 |
-2.48 |
-2.67 |
Competitive Comparison of ZoomInfo Technologies's Beneish M-Score
For the Software - Application subindustry, ZoomInfo 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.
ZoomInfo Technologies's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, ZoomInfo Technologies's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where ZoomInfo Technologies's Beneish M-Score falls into.
ZoomInfo 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 ZoomInfo 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 * 1.0669 | + | 0.528 * 0.9674 | + | 0.404 * 0.9835 | + | 0.892 * 1.1289 | + | 0.115 * 1.2155 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0223 | + | 4.679 * -0.071604 | - | 0.327 * 1.0824 |
| = | -2.67 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $275 Mil.
Revenue was 316.4 + 313.8 + 308.6 + 300.7 = $1,240 Mil.
Gross Profit was 271.8 + 269 + 265.4 + 255.2 = $1,061 Mil.
Total Current Assets was $864 Mil.
Total Assets was $6,868 Mil.
Property, Plant and Equipment(Net PPE) was $146 Mil.
Depreciation, Depletion and Amortization(DDA) was $81 Mil.
Selling, General, & Admin. Expense(SGA) was $580 Mil.
Total Current Liabilities was $638 Mil.
Long-Term Debt & Capital Lease Obligation was $1,316 Mil.
Net Income was -5.5 + 30.2 + 38.1 + 44.5 = $107 Mil.
Non Operating Income was 147.2 + 2.9 + 2.4 + 11.7 = $164 Mil.
Cash Flow from Operations was 128.8 + 80.9 + 116.6 + 108.6 = $435 Mil.
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Total Receivables was $229 Mil.
Revenue was 301.6 + 287.6 + 267.1 + 241.7 = $1,098 Mil.
Gross Profit was 252.4 + 239.4 + 220.1 + 197.7 = $910 Mil.
Total Current Assets was $832 Mil.
Total Assets was $7,136 Mil.
Property, Plant and Equipment(Net PPE) was $115 Mil.
Depreciation, Depletion and Amortization(DDA) was $88 Mil.
Selling, General, & Admin. Expense(SGA) was $503 Mil.
Total Current Liabilities was $573 Mil.
Long-Term Debt & Capital Lease Obligation was $1,304 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) |
| = | (275.2 / 1239.5) | / | (228.5 / 1098) |
| = | 0.222025 | / | 0.208106 |
| | = | 1.0669 |
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) |
| = | (909.6 / 1098) | / | (1061.4 / 1239.5) |
| = | 0.828415 | / | 0.856313 |
| | = | 0.9674 |
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 - (864.3 + 145.8) / 6868.3) | / | (1 - (832 + 115.1) / 7136.4) |
| = | 0.852933 | / | 0.867286 |
| | = | 0.9835 |
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 |
| = | 1239.5 | / | 1098 |
| | = | 1.1289 |
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)) |
| = | (87.8 / (87.8 + 115.1)) | / | (80.6 / (80.6 + 145.8)) |
| = | 0.432725 | / | 0.356007 |
| | = | 1.2155 |
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) |
| = | (579.9 / 1239.5) | / | (502.5 / 1098) |
| = | 0.46785 | / | 0.45765 |
| | = | 1.0223 |
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) |
| = | ((1316.3 + 638.4) / 6868.3) | / | ((1303.6 + 572.7) / 7136.4) |
| = | 0.284597 | / | 0.26292 |
| | = | 1.0824 |
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 |
| = | (107.3 - 164.2 | - | 434.9) | / | 6868.3 |
| | = | -0.071604 |
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.
ZoomInfo Technologies has a M-score of -2.67 suggests that the company is unlikely to be a manipulator.
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