Shift4 Payments Beneish M-Score Historical Data
The historical data trend for Shift4 Payments'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.
Shift4 Payments Beneish M-Score Chart
|
Shift4 Payments Annual Data
|
|
Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
- |
-2.56 |
-1.69 |
-2.62 |
-2.56 |
|
Shift4 Payments Quarterly Data
|
|
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.80 |
-2.94 |
-3.15 |
-2.56 |
- |
Competitive Comparison of Shift4 Payments's Beneish M-Score
For the Software - Infrastructure subindustry, Shift4 Payments'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.
Shift4 Payments's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, Shift4 Payments's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Shift4 Payments's Beneish M-Score falls into.
Shift4 Payments 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 Shift4 Payments 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 * 0.9394 | + | 0.528 * 0.9266 | + | 0.404 * 1.0909 | + | 0.892 * 1.2742 | + | 0.115 * 0.988 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9551 | + | 4.679 * -0.071718 | - | 0.327 * 0.9262 |
| = | -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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was $252 Mil.
Revenue was 707.4 + 705.4 + 675.4 + 637 = $2,725 Mil.
Gross Profit was 187.8 + 195.2 + 180.3 + 166.9 = $730 Mil.
Total Current Assets was $1,191 Mil.
Total Assets was $3,408 Mil.
Property, Plant and Equipment(Net PPE) was $181 Mil.
Depreciation, Depletion and Amortization(DDA) was $233 Mil.
Selling, General, & Admin. Expense(SGA) was $403 Mil.
Total Current Liabilities was $700 Mil.
Long-Term Debt & Capital Lease Obligation was $1,769 Mil.
Net Income was 20.6 + 13.7 + 32.6 + 25.1 = $92 Mil.
Non Operating Income was 9.1 + -23.7 + -7.8 + -6.8 = $-29 Mil.
Cash Flow from Operations was 56.7 + 105.3 + 111.7 + 91.9 = $366 Mil.
|
Total Receivables was $211 Mil.
Revenue was 547 + 537.7 + 547.3 + 506.7 = $2,139 Mil.
Gross Profit was 145.4 + 144.1 + 135.7 + 105.8 = $531 Mil.
Total Current Assets was $1,049 Mil.
Total Assets was $2,615 Mil.
Property, Plant and Equipment(Net PPE) was $134 Mil.
Depreciation, Depletion and Amortization(DDA) was $168 Mil.
Selling, General, & Admin. Expense(SGA) was $331 Mil.
Total Current Liabilities was $283 Mil.
Long-Term Debt & Capital Lease Obligation was $1,763 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) |
| = | (252.2 / 2725.2) | / | (210.7 / 2138.7) |
| = | 0.092544 | / | 0.098518 |
| | = | 0.9394 |
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) |
| = | (531 / 2138.7) | / | (730.2 / 2725.2) |
| = | 0.248282 | / | 0.267944 |
| | = | 0.9266 |
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 - (1190.8 + 181.2) / 3407.8) | / | (1 - (1049 + 133.9) / 2614.9) |
| = | 0.597394 | / | 0.547631 |
| | = | 1.0909 |
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 |
| = | 2725.2 | / | 2138.7 |
| | = | 1.2742 |
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)) |
| = | (167.6 / (167.6 + 133.9)) | / | (233.1 / (233.1 + 181.2)) |
| = | 0.555887 | / | 0.562636 |
| | = | 0.988 |
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) |
| = | (402.7 / 2725.2) | / | (330.9 / 2138.7) |
| = | 0.147769 | / | 0.15472 |
| | = | 0.9551 |
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) |
| = | ((1769.3 + 700.3) / 3407.8) | / | ((1762.8 + 283.1) / 2614.9) |
| = | 0.72469 | / | 0.782401 |
| | = | 0.9262 |
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 |
| = | (92 - -29.2 | - | 365.6) | / | 3407.8 |
| | = | -0.071718 |
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.
Shift4 Payments has a M-score of -2.60 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
FOUR has been successfully added to your