Prestige Biologics Co Beneish M-Score Historical Data
The historical data trend for Prestige Biologics Co'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.
Prestige Biologics Co Beneish M-Score Chart
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Prestige Biologics Co Annual Data
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Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
| Beneish M-Score |
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- |
- |
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-12.38 |
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Prestige Biologics Co Quarterly Data
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Mar19 |
Jun19 |
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Mar23 |
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Mar24 |
| Beneish M-Score |
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-12.38 |
-1.20 |
-5.28 |
-0.77 |
129.73 |
Competitive Comparison of Prestige Biologics Co's Beneish M-Score
For the Biotechnology subindustry, Prestige Biologics Co'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.
Prestige Biologics Co's Beneish M-Score Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Prestige Biologics Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Prestige Biologics Co's Beneish M-Score falls into.
Prestige Biologics Co 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 Prestige Biologics Co 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 * 0.0102 | + | 0.528 * -0.1653 | + | 0.404 * 0.8399 | + | 0.892 * 151.4627 | + | 0.115 * 0.8195 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.015 | + | 4.679 * -0.093597 | - | 0.327 * 1.3623 |
| = | 129.73 |
* 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 (Mar24) TTM: | Last Year (Dec22) TTM: |
Total Receivables was ₩3,348 Mil.
Revenue was 638.829 + 750.774 + 914.503 + 53.562 = ₩2,358 Mil.
Gross Profit was -3575.244 + -580.175 + 844.725 + 11.328 = ₩-3,299 Mil.
Total Current Assets was ₩60,845 Mil.
Total Assets was ₩296,737 Mil.
Property, Plant and Equipment(Net PPE) was ₩234,795 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩10,093 Mil.
Selling, General, & Admin. Expense(SGA) was ₩5,143 Mil.
Total Current Liabilities was ₩94,682 Mil.
Long-Term Debt & Capital Lease Obligation was ₩125,334 Mil.
Net Income was -15772.012 + 1881.913 + -10446.201 + -9275.054 = ₩-33,611 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was -6819.704 + -3636.575 + 4164.5 + 454.014 = ₩-5,838 Mil.
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Total Receivables was ₩2,166 Mil.
Revenue was 1.519 + 14.047 + 0 + 0 = ₩16 Mil.
Gross Profit was -0.012 + 3.613 + 0 + 0 = ₩4 Mil.
Total Current Assets was ₩29,835 Mil.
Total Assets was ₩258,079 Mil.
Property, Plant and Equipment(Net PPE) was ₩227,107 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩7,938 Mil.
Selling, General, & Admin. Expense(SGA) was ₩2,266 Mil.
Total Current Liabilities was ₩32,552 Mil.
Long-Term Debt & Capital Lease Obligation was ₩107,916 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) |
| = | (3347.605 / 2357.668) | / | (2166.396 / 15.566) |
| = | 1.41988 | / | 139.174868 |
| | = | 0.0102 |
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) |
| = | (3.601 / 15.566) | / | (-3299.366 / 2357.668) |
| = | 0.231338 | / | -1.399419 |
| | = | -0.1653 |
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 - (60844.92 + 234794.513) / 296737.044) | / | (1 - (29835.242 + 227107.357) / 258079.236) |
| = | 0.003699 | / | 0.004404 |
| | = | 0.8399 |
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 |
| = | 2357.668 | / | 15.566 |
| | = | 151.4627 |
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)) |
| = | (7938.36 / (7938.36 + 227107.357)) | / | (10092.77 / (10092.77 + 234794.513)) |
| = | 0.033774 | / | 0.041214 |
| | = | 0.8195 |
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) |
| = | (5143.372 / 2357.668) | / | (2265.684 / 15.566) |
| = | 2.181551 | / | 145.553386 |
| | = | 0.015 |
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) |
| = | ((125334.293 + 94681.618) / 296737.044) | / | ((107916.23 + 32551.654) / 258079.236) |
| = | 0.741451 | / | 0.544282 |
| | = | 1.3623 |
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 |
| = | (-33611.354 - 0 | - | -5837.765) | / | 296737.044 |
| | = | -0.093597 |
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.
Prestige Biologics Co has a M-score of 129.73 signals that the company is likely to be a manipulator.
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