Perficient Beneish M Score

PRFT
 Stock
  

USD 86.88  1.86  2.10%   

This module uses fundamental data of Perficient to approximate the value of its Beneish M Score. Perficient M Score tells investors if the company management is likely to be manipulating earnings. The score is calculated using eight financial indicators that are adjusted by a specific multiplier. Please note, the M Score is a probabilistic model and cannot detect companies that manipulate their earnings with 100% accuracy. Please check Perficient Piotroski F Score and Perficient Altman Z Score analysis.
  
Perficient Total Debt is comparatively stable at the moment as compared to the past year. Perficient reported Total Debt of 50.4 Million in 2021. Debt Non Current is likely to gain to about 54.4 M in 2022, whereas Debt Current is likely to drop slightly above 1 M in 2022. Perficient Cash and Equivalents Turnover is comparatively stable at the moment as compared to the past year. Perficient reported Cash and Equivalents Turnover of 14.14 in 2021. Return on Investment is likely to gain to 18.02 in 2022, whereas EBITDA Margin is likely to drop 9.33 in 2022.
At this time, it appears that Perficient is a possible manipulator. The earnings manipulation may begin if Perficient's top management creates an artificial sense of financial success, forcing the stock price to be traded at a high price-earnings multiple than it should be. In general, excessive earnings management by Perficient executives may lead to removing some of the operating profits from subsequent periods to inflate earnings in the following periods. This way, the manipulation of Perficient's earnings can lead to misrepresentations of actual financial condition, taking the otherwise loyal stakeholders on to the path of questionable ethical practices and plain fraud.
-2.2
Beneish M Score - Possible Manipulator
Elasticity of Receivables1.0Focus
Asset Quality1.08Focus
Expense Coverage1.0Focus
Gross Margin Strengs0.9Focus
Accruals Factor1.0Focus
Depreciation Resistance1.0Focus
Net Sales Growth1.08Focus
Financial Leverage Condition1.0Focus

Perficient Beneish M-Score Indicator Trends

The cure to earnings manipulation is the transparency of financial reporting. It will typically remove the temptation of the top executives to inflate earnings (i.e., to promote the idea of 'winning at any cost'). Because a healthy internal audit department can enhance transparency, the board should promote the auditors' access to all the record-keeping systems across the enterprise. For example, if Perficient's auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back.
Current ValueLast YearChange From Last Year 10 Year Trend
Revenues821.1 M761 M
Significantly Up
Increasing
Slightly volatile
Selling General and Administrative Expense97.1 M90 M
Significantly Up
Increasing
Slightly volatile
Net Cash Flow from Operations68.1 M84.9 M
Significantly Down
Increasing
Slightly volatile
Depreciation Amortization and Accretion17.8 M16.5 M
Significantly Up
Increasing
Slightly volatile
Total Assets952.2 M882.6 M
Significantly Up
Increasing
Slightly volatile
Investments3.1 M2.6 M
Fairly Up
Decreasing
Very volatile
Investments Non Current3.1 M2.6 M
Fairly Up
Decreasing
Very volatile
Property Plant and Equipment Net7.7 M7.1 M
Significantly Up
Increasing
Slightly volatile
Trade and Non Trade Receivables117.1 M108.6 M
Significantly Up
Increasing
Slightly volatile
Total Liabilities558.7 M517.8 M
Significantly Up
Increasing
Slightly volatile
Current Assets172 M214.7 M
Significantly Down
Increasing
Slightly volatile
Assets Non Current324.9 M301.2 M
Significantly Up
Increasing
Slightly volatile
Current Liabilities129.4 M120 M
Significantly Up
Increasing
Slightly volatile
Liabilities Non Current67 M62.1 M
Significantly Up
Increasing
Slightly volatile
Total Debt54.4 M50.4 M
Significantly Up
Increasing
Slightly volatile
Debt CurrentM1.1 M
Sufficiently Down
Increasing
Slightly volatile
Debt Non Current54.4 M50.4 M
Significantly Up
Increasing
Slightly volatile
Operating Income114.3 M105.9 M
Significantly Up
Increasing
Slightly volatile
Gross Margin34.3838.3973
Moderately Down
Increasing
Slightly volatile

Perficient Beneish M-Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to detect the potential manipulation of earnings. Understanding the correlation between Perficient's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Perficient in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find Perficient's degree of accounting gimmicks and manipulations.

About Perficient Beneish M Score

M-Score is one of many grading techniques for value stocks. It was developed by Professor M. Daniel Beneish of the Kelley School of Business at Indiana University and published in 1999 under the paper titled The Detection of Earnings Manipulation. The Beneish score is a multi-factor model that utilizes financial identifiers to compile eight variables used to classify whether a company has manipulated its reported earnings. The variables are built from the officially filed financial statements to create a final score call 'M Score.' The score helps to identify companies that are likely to manipulate their profits if they show deteriorating gross margins, operating expenses, and leverage against growing revenue.

Depreciation Amortization and Accretion

17.78 Million

Perficient Depreciation Amortization and Accretion is comparatively stable at the moment as compared to the past year. Perficient reported Depreciation Amortization and Accretion of 16.48 Million in 2021

Perficient Earnings Manipulation Drivers

Although earnings manipulation is typically not the result of intentional misconduct by the c-level executives, it is still a widespread practice by the senior management of public companies such as Perficient. It is usually done by a series of misrepresentations of various accounting rules and operating activities across multiple financial cycles. The best way to spot the manipulation is to examine the historical financial statement to find inconsistencies in earning reports to find trends in assets or liabilities that are not sustainable in the future.
201720182019202020212022 (projected)
Revenues485.26 M498.38 M565.53 M612.13 M761.03 M821.11 M
Total Assets499.06 M570.54 M640.49 M785.76 M882.57 M952.25 M
Current Assets129.21 M177.8 M211.9 M226.51 M214.71 M172.02 M
Total Liabilities132.71 M216.86 M259.48 M391.68 M517.81 M558.69 M
Current Liabilities61.27 M74.82 M84.58 M128.88 M119.95 M129.42 M
Operating Income28.98 M35.94 M55.33 M55.25 M105.93 M114.3 M
Gross Margin33.2835.8337.3737.838.434.38

About Perficient Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Perficient's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Perficient using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Perficient based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Perficient, Inc. provides digital consultancy services and solutions in the United States. Perficient, Inc. was incorporated in 1997 and is headquartered in St. Perficient operates under Information Technology Services classification in the United States and is traded on NASDAQ Exchange. It employs 6079 people.

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Our tools can tell you how much better you can do entering a position in Perficient without increasing your portfolio risk or giving up expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate.risk-adjusted returns of your individual positions relative to your overall portfolio.

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Please check Perficient Piotroski F Score and Perficient Altman Z Score analysis. Note that the Perficient information on this page should be used as a complementary analysis to other Perficient's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.

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When running Perficient price analysis, check to measure Perficient's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Perficient is operating at the current time. Most of Perficient's value examination focuses on studying past and present price action to predict the probability of Perficient's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Perficient's price. Additionally, you may evaluate how the addition of Perficient to your portfolios can decrease your overall portfolio volatility.
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Is Perficient's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Perficient. If investors know Perficient will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Perficient listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
0.57
Market Capitalization
B
Quarterly Revenue Growth YOY
0.21
Return On Assets
0.0979
Return On Equity
0.2
The market value of Perficient is measured differently than its book value, which is the value of Perficient that is recorded on the company's balance sheet. Investors also form their own opinion of Perficient's value that differs from its market value or its book value, called intrinsic value, which is Perficient's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Perficient's market value can be influenced by many factors that don't directly affect Perficient's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Perficient's value and its price as these two are different measures arrived at by different means. Investors typically determine Perficient value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Perficient's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.