CommVault Systems, Inc.
CVLT Technology Software Application
CommVault Systems, Inc.’s revenue for fiscal 2026 (year ended March 2026) was $1.2 billion, up 18.9% from fiscal 2025. In the quarter to June 2026, revenue grew 11.4%, EPS fell 3.77% and free cash flow grew 71.5%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.
Follow CVLT
CommVault Systems, Inc. (CVLT) Beneish M-score
CommVault Systems, Inc.'s Beneish M-score for fiscal 2026 is −2.96; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
Embed this chart
Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2026 | −2.96 | (0.13) |
| FY2025 | −2.83 | (0.36) |
| FY2024 | −2.47 | 1.24 |
| FY2023 | −3.71 | (0.54) |
| FY2022 | −3.17 | (0.02) |
| FY2021 | −3.15 | (1.48) |
| FY2020 | −1.67 | 1.30 |
| FY2019 | −2.97 | 0.46 |
| FY2018 | −3.44 | (0.70) |
| FY2017 | −2.73 | 0.29 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.10 | — | 1.01 | |
| Gross margin index | 1.01 | — | 0.53 | |
| Asset quality index | 0.74 | — | 0.30 | |
| Sales growth index | 1.19 | — | 1.06 | |
| Depreciation index | 0.97 | — | 0.11 | |
| SG&A index | 1.00 | — | −0.17 | |
| Total accruals to total assets | (0.09) | — | −0.43 | |
| Leverage index | 1.64 | — | −0.54 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.96 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| RNG Ringcentral, Inc. compare | −4.4× |
| NAVN Navan, Inc. compare | −3.4× |
| CVLT CommVault Systems, Inc. | −3.0× |
| TTAN ServiceTitan Inc. compare | −2.9× |
| APPF AppFolio, Inc. compare | −2.9× |
| PEGA Pegasystems Inc. compare | −2.8× |
| NICE Nice compare | −2.2× |
| YOU CLEAR Secure, Inc. compare | −1.1× |
| LYFT Lyft, Inc. compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI