Beam Therapeutics Beneish M-Score Historical Data
The historical data trend for Beam Therapeutics's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Beam Therapeutics Beneish M-Score Chart
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Beam Therapeutics Annual Data
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Trend |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
-2.83 |
1,922.47 |
-4.67 |
2.24 |
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Beam Therapeutics Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
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Mar21 |
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Mar23 |
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Dec23 |
| Beneish M-Score |
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-4.67 |
-2.60 |
-2.57 |
-2.75 |
2.24 |
Competitive Comparison of Beam Therapeutics's Beneish M-Score
For the Biotechnology subindustry, Beam Therapeutics's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Beam Therapeutics's Beneish M-Score Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Beam Therapeutics's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Beam Therapeutics's Beneish M-Score falls into.
Beam Therapeutics Beneish M-Score Calculation
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Beam Therapeutics for today is based on a combination of the following eight different indices:
| M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
| = | -4.84 | + | 0.92 * 1 | + | 0.528 * 1 | + | 0.404 * 0.68 | + | 0.892 * 6.2001 | + | 0.115 * 0.7341 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.2146 | + | 4.679 * 0.012345 | - | 0.327 * 0.8565 |
| = | 2.24 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
| This Year (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $0.0 Mil.
Revenue was 316.192 + 17.193 + 20.116 + 24.208 = $377.7 Mil.
Gross Profit was 316.192 + 17.193 + 20.116 + 24.208 = $377.7 Mil.
Total Current Assets was $1,211.0 Mil.
Total Assets was $1,459.7 Mil.
Property, Plant and Equipment(Net PPE) was $237.8 Mil.
Depreciation, Depletion and Amortization(DDA) was $20.0 Mil.
Selling, General, & Admin. Expense(SGA) was $116.8 Mil.
Total Current Liabilities was $205.6 Mil.
Long-Term Debt & Capital Lease Obligation was $159.9 Mil.
Net Income was 142.797 + -96.088 + -82.776 + -96.46 = $-132.5 Mil.
Non Operating Income was -0.759 + -0.519 + 7.419 + -7.493 = $-1.4 Mil.
Cash Flow from Operations was 135.073 + -89.784 + -84.669 + -109.815 = $-149.2 Mil.
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Total Receivables was $0.0 Mil.
Revenue was 20.037 + 15.799 + 16.652 + 8.432 = $60.9 Mil.
Gross Profit was 20.037 + 15.799 + 16.652 + 8.432 = $60.9 Mil.
Total Current Assets was $1,092.9 Mil.
Total Assets was $1,341.7 Mil.
Property, Plant and Equipment(Net PPE) was $234.1 Mil.
Depreciation, Depletion and Amortization(DDA) was $14.1 Mil.
Selling, General, & Admin. Expense(SGA) was $87.8 Mil.
Total Current Liabilities was $223.6 Mil.
Long-Term Debt & Capital Lease Obligation was $168.6 Mil.
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1. DSRI = Days Sales in Receivables Index
Measured as the ratio of Revenue in Total Receivables in year t to year t-1.
A large increase in DSR could be indicative of revenue inflation.
| DSRI | = | (Receivables_t / Revenue_t) | / | (Receivables_t-1 / Revenue_t-1) |
| = | (0 / 377.709) | / | (0 / 60.92) |
| = | 0 | / | 0 |
| | = | 1 |
2. GMI = Gross Margin Index
Measured as the ratio of gross margin in year t-1 to gross margin in year t.
Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.
| GMI | = | GrossMargin_t-1 | / | GrossMargin_t |
| = | (GrossProfit_t-1 / Revenue_t-1) | / | (GrossProfit_t / Revenue_t) |
| = | (60.92 / 60.92) | / | (377.709 / 377.709) |
| = | 1 | / | 1 |
| | = | 1 |
3. AQI = Asset Quality Index
AQI is the ratio of asset quality in year t to year t-1.
Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.
| AQI | = | (1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) | / | (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1) |
| = | (1 - (1211.043 + 237.806) / 1459.714) | / | (1 - (1092.896 + 234.133) / 1341.714) |
| = | 0.007443 | / | 0.010945 |
| | = | 0.68 |
4. SGI = Sales Growth Index
Ratio of Revenue in year t to sales in year t-1.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
| SGI | = | Sales_t | / | Sales_t-1 |
| = | Revenue_t | / | Revenue_t-1 |
| = | 377.709 | / | 60.92 |
| | = | 6.2001 |
5. DEPI = Depreciation Index
Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
| DEPI | = | (Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) | / | (Depreciation_t / (Depreciaton_t + PPE_t)) |
| = | (14.147 / (14.147 + 234.133)) | / | (20.012 / (20.012 + 237.806)) |
| = | 0.05698 | / | 0.077621 |
| | = | 0.7341 |
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.
SGA expenses index > 1 means that the company is becoming less efficient in generate sales.
| SGAI | = | (SGA_t / Sales_t) | / | (SGA_t-1 /Sales_t-1) |
| = | (116.813 / 377.709) | / | (87.805 / 60.92) |
| = | 0.309267 | / | 1.441316 |
| | = | 0.2146 |
7. LVGI = Leverage Index
The ratio of total debt to Total Assets in year t relative to yeat t-1.
An LVGI > 1 indicates an increase in leverage
| LVGI | = | ((LTD_t + CurrentLiabilities_t) / TotalAssets_t) | / | ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1) |
| = | ((159.911 + 205.565) / 1459.714) | / | ((168.625 + 223.595) / 1341.714) |
| = | 0.250375 | / | 0.292328 |
| | = | 0.8565 |
8. TATA = Total Accruals to Total Assets
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
| TATA | = | (IncomefromContinuingOperations_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
| = | (NetIncome_t - NonOperatingIncome_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
| = | (-132.527 - -1.352 | - | -149.195) | / | 1459.714 |
| | = | 0.012345 |
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Beam Therapeutics has a M-score of 2.24 signals that the company is likely to be a manipulator.
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