Taboola.com Ltd.
TBLA Communication Services Internet Content & Information
Taboola.com Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $1.9 billion, up 8.26% from fiscal 2024. In the quarter to June 2026, revenue grew 2.44%, EPS grew 211.5%, free cash flow fell 49.3% and total debt fell 18.2%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.
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Taboola.com Ltd. (TBLA) Beneish M-score
Taboola.com Ltd.'s Beneish M-score for fiscal 2025 is −2.97; 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) |
|---|---|---|
| FY2025 | −2.97 | (0.12) |
| FY2024 | −2.85 | (0.24) |
| FY2023 | −2.61 | 0.04 |
| FY2022 | −2.65 | (1.14) |
| FY2021 | −1.51 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.90 | — | 0.83 | |
| Gross margin index | 1.02 | — | 0.54 | |
| Asset quality index | 1.03 | — | 0.42 | |
| Sales growth index | 1.08 | — | 0.97 | |
| Depreciation index | 1.17 | — | 0.13 | |
| SG&A index | 0.95 | — | −0.16 | |
| Total accruals to total assets | (0.10) | — | −0.48 | |
| Leverage index | 1.11 | — | −0.36 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.97 | ||
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 |
|---|---|
| BMBL Bumble Inc. compare | −6.4× |
| YELP Yelp Inc. compare | −3.7× |
| WBTN WEBTOON Entertainment Inc. compare | −3.6× |
| NXDR Nextdoor Holdings, Inc. compare | −3.0× |
| TBLA Taboola.com Ltd. | −3.0× |
| UPWK Upwork Inc. compare | −2.9× |
| PGRU PropertyGuru Group Limited compare | −2.8× |
| WB Weibo Corporation compare | −2.4× |
| EVER EverQuote, Inc. 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