Guidewire Software, Inc.
GWRE Technology Software Application
Guidewire Software, Inc.’s revenue for fiscal 2026 (year ended July 2026) was $1.5 billion, up 22.7% from fiscal 2025. In the quarter to July 2026, revenue grew 15.3%, EPS fell 38.7%, free cash flow grew 16.4% and total debt was flat, each against the same quarter a year earlier. Revenue growth for ten consecutive years, operating cash flow growth for three.
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Guidewire Software, Inc. (GWRE) Beneish M-score
Guidewire Software, Inc.'s Beneish M-score for fiscal 2026 is −2.70; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2026 | −2.70 | 0.04 |
| FY2025 | −2.74 | 0.31 |
| FY2024 | −3.05 | (0.24) |
| FY2023 | −2.81 | (0.24) |
| FY2022 | −2.57 | 0.27 |
| FY2021 | −2.84 | (0.11) |
| FY2020 | −2.74 | (0.46) |
| FY2019 | −2.28 | 0.29 |
| FY2018 | −2.57 | 0.00 |
| FY2017 | −2.57 | 0.20 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.00 | — | 0.92 | |
| Gross margin index | 0.97 | — | 0.51 | |
| Asset quality index | 1.21 | — | 0.49 | |
| Sales growth index | 1.23 | — | 1.09 | |
| Depreciation index | 0.94 | — | 0.11 | |
| SG&A index | 0.90 | — | −0.15 | |
| Total accruals to total assets | (0.10) | — | −0.45 | |
| Leverage index | 1.16 | — | −0.38 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.70 | ||
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 |
|---|---|
| FIG Figma, Inc. compare | −4.6× |
| MANH Manhattan Associates, Inc. compare | −3.4× |
| DOCU Docusign Inc. compare | −3.3× |
| FROG JFrog Ltd. compare | −3.1× |
| HUBS HubSpot, Inc. compare | −3.0× |
| TYL Tyler Technologies, Inc. compare | −2.7× |
| GWRE Guidewire Software, Inc. | −2.7× |
| FICO Fair Isaac Corporation compare | −2.7× |
| GRAB Grab Holdings Limited compare | −2.0× |
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