Entero Healthcare Solutions Beneish M-Score Historical Data
The historical data trend for Entero Healthcare Solutions'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.
Entero Healthcare Solutions Beneish M-Score Chart
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Entero Healthcare Solutions Annual Data
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Trend |
Mar21 |
Mar22 |
Mar23 |
Mar24 |
| Beneish M-Score |
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- |
- |
-2.05 |
-2.12 |
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Entero Healthcare Solutions Quarterly Data
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Mar21 |
Mar22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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- |
-2.12 |
- |
- |
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Competitive Comparison of Entero Healthcare Solutions's Beneish M-Score
For the Medical Distribution subindustry, Entero Healthcare Solutions'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.
Entero Healthcare Solutions's Beneish M-Score Distribution in the Medical Distribution Industry
For the Medical Distribution industry and Healthcare sector, Entero Healthcare Solutions's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Entero Healthcare Solutions's Beneish M-Score falls into.
Entero Healthcare Solutions 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 Entero Healthcare Solutions 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 * 1.0411 | + | 0.528 * 0.9707 | + | 0.404 * 0.7125 | + | 0.892 * 1.1807 | + | 0.115 * 0.9449 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9946 | + | 4.679 * 0.032291 | - | 0.327 * 0.5513 |
| = | -2.12 |
* 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 (Mar23) TTM: |
Total Receivables was ₹6,506 Mil.
Revenue was ₹38,882 Mil.
Gross Profit was ₹3,178 Mil.
Total Current Assets was ₹20,110 Mil.
Total Assets was ₹23,450 Mil.
Property, Plant and Equipment(Net PPE) was ₹931 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹250 Mil.
Selling, General, & Admin. Expense(SGA) was ₹447 Mil.
Total Current Liabilities was ₹6,019 Mil.
Long-Term Debt & Capital Lease Obligation was ₹945 Mil.
Net Income was ₹391 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-366 Mil.
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Total Receivables was ₹5,292 Mil.
Revenue was ₹32,931 Mil.
Gross Profit was ₹2,613 Mil.
Total Current Assets was ₹10,232 Mil.
Total Assets was ₹13,087 Mil.
Property, Plant and Equipment(Net PPE) was ₹969 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹242 Mil.
Selling, General, & Admin. Expense(SGA) was ₹381 Mil.
Total Current Liabilities was ₹6,240 Mil.
Long-Term Debt & Capital Lease Obligation was ₹810 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) |
| = | (6505.76 / 38881.63) | / | (5292.39 / 32931.43) |
| = | 0.167322 | / | 0.160709 |
| | = | 1.0411 |
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) |
| = | (2612.78 / 32931.43) | / | (3178.1 / 38881.63) |
| = | 0.07934 | / | 0.081738 |
| | = | 0.9707 |
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 - (20109.75 + 930.85) / 23449.75) | / | (1 - (10231.7 + 968.61) / 13087.27) |
| = | 0.102737 | / | 0.144183 |
| | = | 0.7125 |
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 |
| = | 38881.63 | / | 32931.43 |
| | = | 1.1807 |
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)) |
| = | (242.37 / (242.37 + 968.61)) | / | (250.17 / (250.17 + 930.85)) |
| = | 0.200144 | / | 0.211825 |
| | = | 0.9449 |
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) |
| = | (447.39 / 38881.63) | / | (380.98 / 32931.43) |
| = | 0.011506 | / | 0.011569 |
| | = | 0.9946 |
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) |
| = | ((945.1 + 6019.44) / 23449.75) | / | ((810.35 + 6239.56) / 13087.27) |
| = | 0.296998 | / | 0.538685 |
| | = | 0.5513 |
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 |
| = | (391.09 - 0 | - | -366.12) | / | 23449.75 |
| | = | 0.032291 |
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.
Entero Healthcare Solutions has a M-score of -2.12 suggests that the company is unlikely to be a manipulator.
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