Biogen Beneish M-Score Historical Data
The historical data trend for Biogen'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.
Biogen Beneish M-Score Chart
|
Biogen Annual Data
|
|
Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.84 |
-2.91 |
-2.22 |
-2.31 |
-2.78 |
|
Biogen Quarterly Data
|
|
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.31 |
-2.34 |
-2.37 |
-2.56 |
-2.78 |
Competitive Comparison of Biogen's Beneish M-Score
For the Drug Manufacturers - General subindustry, Biogen'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.
Biogen's Beneish M-Score Distribution in the Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Biogen's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Biogen's Beneish M-Score falls into.
Biogen 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 Biogen 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 * 0.9046 | + | 0.528 * 0.9753 | + | 0.404 * 1.0041 | + | 0.892 * 0.9838 | + | 0.115 * 0.7326 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9583 | + | 4.679 * -0.039684 | - | 0.327 * 0.938 |
| = | -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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was $1,869 Mil.
Revenue was 2454.7 + 2465.8 + 2464.9 + 2290.5 = $9,676 Mil.
Gross Profit was 1871.2 + 1827.1 + 1918.9 + 1748.3 = $7,366 Mil.
Total Current Assets was $7,457 Mil.
Total Assets was $28,049 Mil.
Property, Plant and Equipment(Net PPE) was $3,538 Mil.
Depreciation, Depletion and Amortization(DDA) was $673 Mil.
Selling, General, & Admin. Expense(SGA) was $2,404 Mil.
Total Current Liabilities was $5,529 Mil.
Long-Term Debt & Capital Lease Obligation was $4,882 Mil.
Net Income was 266.7 + 388.5 + 583.6 + 393.4 = $1,632 Mil.
Non Operating Income was -117.6 + 2.8 + 38 + -53.4 = $-130 Mil.
Cash Flow from Operations was 760.9 + 935.6 + 625.8 + 553.2 = $2,876 Mil.
|
Total Receivables was $2,100 Mil.
Revenue was 2386.3 + 2530.3 + 2456 + 2463 = $9,836 Mil.
Gross Profit was 1768 + 1870.7 + 1863.3 + 1800.2 = $7,302 Mil.
Total Current Assets was $6,859 Mil.
Total Assets was $26,845 Mil.
Property, Plant and Equipment(Net PPE) was $3,730 Mil.
Depreciation, Depletion and Amortization(DDA) was $495 Mil.
Selling, General, & Admin. Expense(SGA) was $2,550 Mil.
Total Current Liabilities was $3,434 Mil.
Long-Term Debt & Capital Lease Obligation was $7,188 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) |
| = | (1868.8 / 9675.9) | / | (2100 / 9835.6) |
| = | 0.19314 | / | 0.21351 |
| | = | 0.9046 |
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) |
| = | (7302.2 / 9835.6) | / | (7365.5 / 9675.9) |
| = | 0.742425 | / | 0.761221 |
| | = | 0.9753 |
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 - (7456.8 + 3537.7) / 28049.3) | / | (1 - (6859.3 + 3729.7) / 26844.8) |
| = | 0.608029 | / | 0.605547 |
| | = | 1.0041 |
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 |
| = | 9675.9 | / | 9835.6 |
| | = | 0.9838 |
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)) |
| = | (494.8 / (494.8 + 3729.7)) | / | (673.2 / (673.2 + 3537.7)) |
| = | 0.117126 | / | 0.159871 |
| | = | 0.7326 |
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) |
| = | (2403.7 / 9675.9) | / | (2549.7 / 9835.6) |
| = | 0.248421 | / | 0.259232 |
| | = | 0.9583 |
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) |
| = | ((4881.7 + 5528.8) / 28049.3) | / | ((7188.2 + 3434.3) / 26844.8) |
| = | 0.37115 | / | 0.3957 |
| | = | 0.938 |
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 |
| = | (1632.2 - -130.2 | - | 2875.5) | / | 28049.3 |
| | = | -0.039684 |
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.
Biogen 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
BIIB has been successfully added to your