Revvity (BSP:R1VT34) Beneish M-Score : -2.40 (As of May. 01, 2024)

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What is Revvity 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 -2.4 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

BSP:R1VT34' s Beneish M-Score Range Over the Past 10 Years
Min: -3.02 Med: -2.48 Max: -1.89
Current: -2.4

During the past 13 years, the highest Beneish M-Score of Revvity was -1.89. The lowest was -3.02. And the median was -2.48.

Revvity Beneish M-Score Historical Data

The historical data trend for Revvity'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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Revvity Beneish M-Score Chart

Revvity Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-2.38

-2.10

-2.49

-2.68

-2.12

Revvity Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial															-2.75	-2.64	-1.89	-2.12	-2.40

Competitive Comparison of Revvity's Beneish M-Score

For the Diagnostics & Research subindustry, Revvity'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.

Revvity's Beneish M-Score Distribution in the Medical Diagnostics & Research Industry

For the Medical Diagnostics & Research industry and Healthcare sector, Revvity's Beneish M-Score distribution charts can be found below:

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

Revvity 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 Revvity 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 * 1.1209

0.528 * 1.0578

0.404 * 1.0402

0.892 * 0.8559

0.115 * 0.9935

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1484

4.679 * 0.002954

0.327 * 0.909

-2.43

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was R$2,933 Mil.
Revenue was 3236.472 + 3409.776 + 3312.579 + 3441.594 = R$13,400 Mil.
Gross Profit was 1768.063 + 1878.966 + 1839.745 + 1952.794 = R$7,440 Mil.
Total Current Assets was R$15,235 Mil.
Total Assets was R$66,892 Mil.
Property, Plant and Equipment(Net PPE) was R$3,250 Mil.
Depreciation, Depletion and Amortization(DDA) was R$2,117 Mil.
Selling, General, & Admin. Expense(SGA) was R$5,077 Mil.
Total Current Liabilities was R$6,843 Mil.
Long-Term Debt & Capital Lease Obligation was R$16,394 Mil.
Net Income was 129.54 + 384.943 + 46.903 + 172.593 = R$734 Mil.
Non Operating Income was -26.174 + -218.203 + -79.474 + -15.799 = R$-340 Mil.
Cash Flow from Operations was 734.834 + 963.364 + -165.372 + -656.798 = R$876 Mil.

Total Receivables was R$3,057 Mil.
Revenue was 3515.102 + 3887.964 + 3732.41 + 4520.932 = R$15,656 Mil.
Gross Profit was 1986.383 + 2288.725 + 2134.376 + 2784.897 = R$9,194 Mil.
Total Current Assets was R$19,770 Mil.
Total Assets was R$76,244 Mil.
Property, Plant and Equipment(Net PPE) was R$3,433 Mil.
Depreciation, Depletion and Amortization(DDA) was R$2,212 Mil.
Selling, General, & Admin. Expense(SGA) was R$5,165 Mil.
Total Current Liabilities was R$8,145 Mil.
Long-Term Debt & Capital Lease Obligation was R$20,993 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)
	=	(2932.973 / 13400.421)	/	(3057.042 / 15656.408)
	=	0.218872	/	0.195258
	=	1.1209

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)
	=	(9194.381 / 15656.408)	/	(7439.568 / 13400.421)
	=	0.58726	/	0.555174
	=	1.0578

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 - (15234.901 + 3250.256) / 66892.184)	/	(1 - (19769.799 + 3432.816) / 76244.294)
	=	0.723657	/	0.695681
	=	1.0402

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
	=	13400.421	/	15656.408
	=	0.8559

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))
	=	(2212.407 / (2212.407 + 3432.816))	/	(2117.486 / (2117.486 + 3250.256))
	=	0.391908	/	0.394484
	=	0.9935

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)
	=	(5076.62 / 13400.421)	/	(5164.62 / 15656.408)
	=	0.37884	/	0.329873
	=	1.1484

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)
	=	((16394.458 + 6843.351) / 66892.184)	/	((20992.616 + 8144.891) / 76244.294)
	=	0.347392	/	0.38216
	=	0.909

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
	=	(733.979 - -339.65	-	876.028)	/	66892.184
	=	0.002954

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.

Revvity has a M-score of -2.43 suggests that the company is unlikely to be a manipulator.

Revvity Beneish M-Score Related Terms

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Revvity (BSP:R1VT34) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Diagnostics & Research » Revvity Inc (BSP:R1VT34) » Definitions » Beneish M-Score

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RVTY:USA PKN:Germany

Address

940 Winter Street, Waltham, MA, USA, 02451

Website

https://www.revvity.com

Revvity provides instruments, tests, services, and software solutions to the pharmaceutical, biomedical, chemical, environmental, and general industrial markets. The company operates in two segments. First, its diagnostics segment includes immunodiagnostics, reproductive health, and applied genomics. Second, its discovery and analytical solutions is composed of life science, industrial, environmental, and food applications. Revvity offers products and services ranging from genetic screening and environmental analytical tools to informatics and enterprise software.

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