IDT Corporation
IDT Communication Services Telecom Services
IDT Corporation’s revenue for fiscal 2026 (year ended July 2026) was $1.3 billion, up 5.40% from fiscal 2025. In the quarter to July 2026, revenue grew 7.07%, EPS grew 46.6% and free cash flow grew 49.1%, each against the same quarter a year earlier. Dividend growth for three consecutive years.
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IDT Corporation (IDT) Beneish M-score
IDT Corporation's Beneish M-score for fiscal 2026 is −2.25; 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 | −2.25 | 0.69 |
| FY2025 | −2.94 | (0.62) |
| FY2024 | −2.32 | 0.59 |
| FY2023 | −2.91 | (0.26) |
| FY2022 | −2.65 | (0.72) |
| FY2021 | −1.93 | 0.09 |
| FY2020 | −2.02 | 1.54 |
| FY2019 | −3.56 | (0.69) |
| FY2018 | −2.86 | (0.67) |
| FY2017 | −2.19 | 0.89 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.28 | — | 1.18 | |
| Gross margin index | 0.95 | — | 0.50 | |
| Asset quality index | 0.82 | — | 0.33 | |
| Sales growth index | 1.05 | — | 0.94 | |
| Depreciation index | 1.04 | — | 0.12 | |
| SG&A index | 1.05 | — | −0.18 | |
| Total accruals to total assets | 0.01 | — | 0.02 | |
| Leverage index | 0.98 | — | −0.32 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.25 | ||
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 |
|---|---|
| LBTYA Liberty Global Ltd compare | −4.0× |
| LBTYK Liberty Global Ltd compare | −4.0× |
| KYIV Kyivstar Group Ltd. compare | −3.6× |
| LILA Liberty Latin America Ltd. compare | −3.1× |
| LILAK Liberty Global PLC compare | −3.0× |
| TEO Telecom Argentina Stet - France Telecom S.A. compare | −2.6× |
| IDT IDT Corporation | −2.2× |
| AD Array Digital Infrastructure Inc. compare | −2.0× |
| ATEX Anterix Inc. compare | −1.6× |
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