Doctor Care Anywhere Group (ASX:DOC) Beneish M-Score : -4.73 (As of Jun. 21, 2025)

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What is Doctor Care Anywhere Group 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 -4.73 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Doctor Care Anywhere Group's Beneish M-Score or its related term are showing as below:

ASX:DOC' s Beneish M-Score Range Over the Past 10 Years
Min: -4.73 Med: -4.11 Max: -3.59
Current: -4.73

During the past 5 years, the highest Beneish M-Score of Doctor Care Anywhere Group was -3.59. The lowest was -4.73. And the median was -4.11.

Doctor Care Anywhere Group Beneish M-Score Historical Data

The historical data trend for Doctor Care Anywhere Group'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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Doctor Care Anywhere Group Beneish M-Score Chart

Doctor Care Anywhere Group Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

-4.11

-3.59

-4.73

Doctor Care Anywhere Group Semi-Annual Data
	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24
Beneish M-Score	Get a 7-Day Free Trial				-4.11	-	-3.59	-	-4.73

Competitive Comparison of Doctor Care Anywhere Group's Beneish M-Score

For the Health Information Services subindustry, Doctor Care Anywhere Group'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.

Doctor Care Anywhere Group's Beneish M-Score Distribution in the Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Doctor Care Anywhere Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Doctor Care Anywhere Group's Beneish M-Score falls into.

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Doctor Care Anywhere Group 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 Doctor Care Anywhere Group 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 * 0.818

0.528 * 0.807

0.404 * 1.1853

0.892 * 1.0795

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.7569

4.679 * -0.459554

0.327 * 1.0565

-4.73

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was A$3.61 Mil.
Revenue was A$78.52 Mil.
Gross Profit was A$44.76 Mil.
Total Current Assets was A$17.51 Mil.
Total Assets was A$29.93 Mil.
Property, Plant and Equipment(Net PPE) was A$0.51 Mil.
Depreciation, Depletion and Amortization(DDA) was A$4.59 Mil.
Selling, General, & Admin. Expense(SGA) was A$35.64 Mil.
Total Current Liabilities was A$13.62 Mil.
Long-Term Debt & Capital Lease Obligation was A$16.10 Mil.
Net Income was A$-12.56 Mil.
Gross Profit was A$0.49 Mil.
Cash Flow from Operations was A$0.71 Mil.

Total Receivables was A$4.09 Mil.
Revenue was A$72.74 Mil.
Gross Profit was A$33.46 Mil.
Total Current Assets was A$25.77 Mil.
Total Assets was A$40.93 Mil.
Property, Plant and Equipment(Net PPE) was A$1.41 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was A$43.63 Mil.
Total Current Liabilities was A$26.07 Mil.
Long-Term Debt & Capital Lease Obligation was A$12.40 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)
	=	(3.607 / 78.517)	/	(4.085 / 72.737)
	=	0.045939	/	0.056161
	=	0.818

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)
	=	(33.46 / 72.737)	/	(44.755 / 78.517)
	=	0.460013	/	0.570004
	=	0.807

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 - (17.509 + 0.507) / 29.929)	/	(1 - (25.769 + 1.413) / 40.926)
	=	0.398042	/	0.335826
	=	1.1853

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
	=	78.517	/	72.737
	=	1.0795

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 / (0 + 1.413))	/	(4.589 / (4.589 + 0.507))
	=	0	/	0.90051
	=	1

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)
	=	(35.642 / 78.517)	/	(43.625 / 72.737)
	=	0.45394	/	0.599764
	=	0.7569

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)
	=	((16.097 + 13.622) / 29.929)	/	((12.396 + 26.071) / 40.926)
	=	0.992983	/	0.939916
	=	1.0565

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
	=	(-12.558 - 0.491	-	0.705)	/	29.929
	=	-0.459554

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.

Doctor Care Anywhere Group has a M-score of -4.73 suggests that the company is unlikely to be a manipulator.

Doctor Care Anywhere Group Beneish M-Score Related Terms

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Doctor Care Anywhere Group Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Healthcare Providers & Services » Doctor Care Anywhere Group PLC (ASX:DOC) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

13-15 Bouverie Street, 2nd Floor, London, GBR, EC4Y 8DP

Website

https://www.doctorcareanywhere.com

Doctor Care Anywhere Group PLC is a telehealth company that provides clinical care through digitally enabled, joined-up, evidence-based pathways on its proprietary platform. It utilizes its relationships with health insurers, healthcare providers, and corporate customers to connect with patients to deliver a range of telehealth services. The Group provides virtual healthcare services, technology platform licensing, and digital design services, within the United Kingdom, Australia, and the Republic of Ireland. The company derives a majority of its revenue from the UK and Ireland.