Gerresheimer AG Beneish M-Score Historical Data
The historical data trend for Gerresheimer AG'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.
Gerresheimer AG Beneish M-Score Chart
|
Gerresheimer AG Annual Data
|
|
Trend |
Nov14 |
Nov15 |
Nov16 |
Nov17 |
Nov18 |
Nov19 |
Nov20 |
Nov21 |
Nov22 |
Nov23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.65 |
-2.85 |
-2.60 |
-2.44 |
-2.74 |
|
Gerresheimer AG Quarterly Data
|
|
May19 |
Aug19 |
Nov19 |
Feb20 |
May20 |
Aug20 |
Nov20 |
Feb21 |
May21 |
Aug21 |
Nov21 |
Feb22 |
May22 |
Aug22 |
Nov22 |
Feb23 |
May23 |
Aug23 |
Nov23 |
Feb24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.38 |
-2.52 |
-2.74 |
-2.74 |
-2.78 |
Competitive Comparison of Gerresheimer AG's Beneish M-Score
For the Medical Instruments & Supplies subindustry, Gerresheimer AG'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.
Gerresheimer AG's Beneish M-Score Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Gerresheimer AG's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Gerresheimer AG's Beneish M-Score falls into.
Gerresheimer AG 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 Gerresheimer AG 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 * 0.9512 | + | 0.528 * 1.0272 | + | 0.404 * 0.9083 | + | 0.892 * 1.0498 | + | 0.115 * 1.1103 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9667 | + | 4.679 * -0.073111 | - | 0.327 * 0.8444 |
| = | -2.78 |
* 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 (Feb24) TTM: | Last Year (Feb23) TTM: |
Total Receivables was €297 Mil.
Revenue was 466.138 + 545.17 + 487.94 + 499.604 = €1,999 Mil.
Gross Profit was 129.593 + 159.315 + 149.831 + 154.115 = €593 Mil.
Total Current Assets was €865 Mil.
Total Assets was €3,469 Mil.
Property, Plant and Equipment(Net PPE) was €1,295 Mil.
Depreciation, Depletion and Amortization(DDA) was €189 Mil.
Selling, General, & Admin. Expense(SGA) was €326 Mil.
Total Current Liabilities was €973 Mil.
Long-Term Debt & Capital Lease Obligation was €651 Mil.
Net Income was 13.008 + 41.617 + 28.026 + 34.434 = €117 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = €0 Mil.
Cash Flow from Operations was 27.259 + 149.363 + 158.921 + 35.178 = €371 Mil.
|
Total Receivables was €298 Mil.
Revenue was 457.772 + 528.708 + 472.97 + 444.619 = €1,904 Mil.
Gross Profit was 134.053 + 159.917 + 148.79 + 137.339 = €580 Mil.
Total Current Assets was €831 Mil.
Total Assets was €3,263 Mil.
Property, Plant and Equipment(Net PPE) was €1,076 Mil.
Depreciation, Depletion and Amortization(DDA) was €177 Mil.
Selling, General, & Admin. Expense(SGA) was €321 Mil.
Total Current Liabilities was €960 Mil.
Long-Term Debt & Capital Lease Obligation was €850 Mil.
|
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) |
| = | (297.274 / 1998.852) | / | (297.711 / 1904.069) |
| = | 0.148722 | / | 0.156355 |
| | = | 0.9512 |
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) |
| = | (580.099 / 1904.069) | / | (592.854 / 1998.852) |
| = | 0.304663 | / | 0.296597 |
| | = | 1.0272 |
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 - (865.208 + 1294.653) / 3469.201) | / | (1 - (831.446 + 1075.836) / 3263.277) |
| = | 0.377418 | / | 0.415532 |
| | = | 0.9083 |
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 |
| = | 1998.852 | / | 1904.069 |
| | = | 1.0498 |
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)) |
| = | (176.804 / (176.804 + 1075.836)) | / | (188.553 / (188.553 + 1294.653)) |
| = | 0.141145 | / | 0.127125 |
| | = | 1.1103 |
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) |
| = | (325.662 / 1998.852) | / | (320.898 / 1904.069) |
| = | 0.162925 | / | 0.168533 |
| | = | 0.9667 |
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) |
| = | ((651.36 + 973.199) / 3469.201) | / | ((849.727 + 959.985) / 3263.277) |
| = | 0.46828 | / | 0.554569 |
| | = | 0.8444 |
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 |
| = | (117.085 - 0 | - | 370.721) | / | 3469.201 |
| | = | -0.073111 |
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.
Gerresheimer AG has a M-score of -2.78 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
XTER:GXI has been successfully added to your