Med Life (BSE:M) Beneish M-Score : -2.74 (As of Mar. 17, 2025)

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What is Med Life 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 -2.74 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

BSE:M' s Beneish M-Score Range Over the Past 10 Years
Min: -2.74 Med: -2.63 Max: -1.92
Current: -2.74

During the past 11 years, the highest Beneish M-Score of Med Life was -1.92. The lowest was -2.74. And the median was -2.63.

Med Life Beneish M-Score Historical Data

The historical data trend for Med Life'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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Med Life Beneish M-Score Chart

Med Life Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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-2.67

-2.70

-2.23

-2.65

-2.74

Med Life 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															-2.65	-2.53	-2.63	-2.55	-2.74

Competitive Comparison of Med Life's Beneish M-Score

For the Medical Care Facilities subindustry, Med Life'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.

Med Life's Beneish M-Score Distribution in the Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Med Life's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Med Life's Beneish M-Score falls into.

Med Life 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 Med Life 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 * 0.9526

0.528 * 1.0091

0.404 * 0.9554

0.892 * 1.2285

0.115 * 0.9123

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9489

4.679 * -0.082968

0.327 * 1.0494

-2.74

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was lei321 Mil.
Revenue was 736.788 + 668.269 + 663.778 + 646.622 = lei2,715 Mil.
Gross Profit was 595.953 + 544.012 + 541.974 + 534.302 = lei2,216 Mil.
Total Current Assets was lei656 Mil.
Total Assets was lei3,022 Mil.
Property, Plant and Equipment(Net PPE) was lei1,704 Mil.
Depreciation, Depletion and Amortization(DDA) was lei249 Mil.
Selling, General, & Admin. Expense(SGA) was lei91 Mil.
Total Current Liabilities was lei977 Mil.
Long-Term Debt & Capital Lease Obligation was lei1,488 Mil.
Net Income was 0.396 + 4.743 + 5.945 + 14.462 = lei26 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = lei0 Mil.
Cash Flow from Operations was 62.842 + 42.679 + 64.621 + 106.163 = lei276 Mil.

Total Receivables was lei274 Mil.
Revenue was 583.02 + 561.207 + 536.756 + 529.453 = lei2,210 Mil.
Gross Profit was 480.09 + 460.818 + 441.204 + 438.436 = lei1,821 Mil.
Total Current Assets was lei534 Mil.
Total Assets was lei2,636 Mil.
Property, Plant and Equipment(Net PPE) was lei1,498 Mil.
Depreciation, Depletion and Amortization(DDA) was lei197 Mil.
Selling, General, & Admin. Expense(SGA) was lei78 Mil.
Total Current Liabilities was lei700 Mil.
Long-Term Debt & Capital Lease Obligation was lei1,350 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)
	=	(321.135 / 2715.457)	/	(274.43 / 2210.436)
	=	0.118262	/	0.124152
	=	0.9526

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)
	=	(1820.548 / 2210.436)	/	(2216.241 / 2715.457)
	=	0.823615	/	0.816158
	=	1.0091

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 - (655.868 + 1703.582) / 3022.348)	/	(1 - (533.509 + 1497.585) / 2636.337)
	=	0.219332	/	0.229577
	=	0.9554

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
	=	2715.457	/	2210.436
	=	1.2285

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))
	=	(197.391 / (197.391 + 1497.585))	/	(249.298 / (249.298 + 1703.582))
	=	0.116457	/	0.127657
	=	0.9123

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)
	=	(91.035 / 2715.457)	/	(78.094 / 2210.436)
	=	0.033525	/	0.03533
	=	0.9489

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)
	=	((1488.195 + 977.49) / 3022.348)	/	((1349.799 + 699.674) / 2636.337)
	=	0.815818	/	0.777394
	=	1.0494

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
	=	(25.546 - 0	-	276.305)	/	3022.348
	=	-0.082968

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.

Med Life has a M-score of -2.74 suggests that the company is unlikely to be a manipulator.

Med Life Beneish M-Score Related Terms

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Med Life Business Description

Industry

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Traded in Other Exchanges

N/A

Address

Calea Grivitei, No. 365, District 1, Bucharest, ROU

Website

https://www.medlife.ro

Med Life SA is a healthcare provider in Romania. The Company's activity resides in the performance of healthcare services activities through medical centres with national coverage. It is engaged in the provision of rendering of medical services, rental of medical facilities and acquisition of materials and commodities. The company provides medical service through Hyper clinics in Arad, Bucharest, Braila, Brasov, Cluj, Constanta, Craiova, Galati, Iasi, Oradea, Ploiesti, Sibiu and Timisoara; Clinics, hospitals located in Bucharest, Arad, Sibiu, Brasov, Cluj and Ploiesti, Laboratories, Pharmacies and Dental Clinics.