Can Fite Biofarma (Can Fite Biofarma) Beneish M-Score : -3.50 (As of May. 11, 2024)

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What is Can Fite Biofarma Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

Good Sign:

Beneish M-Score -3.5 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Can Fite Biofarma's Beneish M-Score or its related term are showing as below:

CANF' s Beneish M-Score Range Over the Past 10 Years
Min: -5.51 Med: -1.78 Max: 186.14
Current: -3.5

During the past 13 years, the highest Beneish M-Score of Can Fite Biofarma was 186.14. The lowest was -5.51. And the median was -1.78.

Can Fite Biofarma Beneish M-Score Historical Data

The historical data trend for Can Fite Biofarma'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.

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Can Fite Biofarma Beneish M-Score Chart

Can Fite Biofarma Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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162.85

-5.51

-1.87

-3.50

Can Fite Biofarma Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial															-1.87	-	-	-	-3.50

Competitive Comparison of Can Fite Biofarma's Beneish M-Score

For the Biotechnology subindustry, Can Fite Biofarma'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.

Can Fite Biofarma's Beneish M-Score Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Can Fite Biofarma's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Can Fite Biofarma's Beneish M-Score falls into.

Can Fite Biofarma 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 Can Fite Biofarma for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $0.00 Mil.
Revenue was $0.74 Mil.
Gross Profit was $0.74 Mil.
Total Current Assets was $9.91 Mil.
Total Assets was $9.99 Mil.
Property, Plant and Equipment(Net PPE) was $0.08 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.02 Mil.
Selling, General, & Admin. Expense(SGA) was $2.96 Mil.
Total Current Liabilities was $2.02 Mil.
Long-Term Debt & Capital Lease Obligation was $0.01 Mil.
Net Income was $-7.63 Mil.
Gross Profit was $0.07 Mil.
Cash Flow from Operations was $-8.44 Mil.

Total Receivables was $0.05 Mil.
Revenue was $0.81 Mil.
Gross Profit was $0.81 Mil.
Total Current Assets was $9.16 Mil.
Total Assets was $9.28 Mil.
Property, Plant and Equipment(Net PPE) was $0.13 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.01 Mil.
Selling, General, & Admin. Expense(SGA) was $3.14 Mil.
Total Current Liabilities was $2.50 Mil.
Long-Term Debt & Capital Lease Obligation was $0.01 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)
	=	(0 / 0.743)	/	(0.047 / 0.81)
	=	0	/	0.058025
	=

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)
	=	(0.81 / 0.81)	/	(0.743 / 0.743)
	=	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 - (9.908 + 0.081) / 9.989)	/	(1 - (9.157 + 0.126) / 9.283)
	=	0	/	0
	=

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
	=	0.743	/	0.81
	=

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))
	=	(0.014 / (0.014 + 0.126))	/	(0.015 / (0.015 + 0.081))
	=	0.1	/	0.15625
	=

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)
	=	(2.955 / 0.743)	/	(3.143 / 0.81)
	=	3.97712	/	3.880247
	=

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)
	=	((0.013 + 2.02) / 9.989)	/	((0.014 + 2.502) / 9.283)
	=	0.203524	/	0.271033
	=

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
	=	(-7.634 - 0.069	-	-8.44)	/	9.989
	=	0.073781

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.

Can Fite Biofarma Beneish M-Score Related Terms

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Can Fite Biofarma (Can Fite Biofarma) Business Description

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CANF:Israel

Address

10 Bareket Street, Kiryat Matalon, P.O. Box 7537, Petah-Tikva, ISR, 4951778

Website

http://www.canfite.com

Can Fite Biofarma Ltd is an advanced clinical stage drug development company with a platform technology that is designed to address multi-billion dollar markets in the treatment of cancer, liver, and inflammatory disease. The company's lead drug candidate, Piclidenoson, is currently in a Phase III trial for psoriasis. Can-Fite's liver drug, Namodenoson, is headed into a Phase III trial for hepatocellular carcinoma (HCC), the most common form of liver cancer, and a Phase IIb trial for the treatment of non-alcoholic steatohepatitis (NASH).