Tenth Of Ramadan For Pharmaceutical Industries And Diagnostic Reagents (CAI:RMDA) Beneish M-Score : -1.65 (As of Apr. 02, 2025)

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What is Tenth Of Ramadan For Pharmaceutical Industries And Diagnostic Reagents 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.

Warning Sign:

Beneish M-Score -1.65 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Tenth Of Ramadan For Pharmaceutical Industries And Diagnostic Reagents's Beneish M-Score or its related term are showing as below:

CAI:RMDA' s Beneish M-Score Range Over the Past 10 Years
Min: -2.2 Med: -1.65 Max: -1.41
Current: -1.65

During the past 7 years, the highest Beneish M-Score of Tenth Of Ramadan For Pharmaceutical Industries And Diagnostic Reagents was -1.41. The lowest was -2.20. And the median was -1.65.

Tenth Of Ramadan For Pharmaceutical Industries And Diagnostic Reagents Beneish M-Score Historical Data

The historical data trend for Tenth Of Ramadan For Pharmaceutical Industries And Diagnostic Reagents'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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Tenth Of Ramadan For Pharmaceutical Industries And Diagnostic Reagents Beneish M-Score Chart

Tenth Of Ramadan For Pharmaceutical Industries And Diagnostic Reagents Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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-1.41

-2.20

-1.88

-1.62

-1.65

Tenth Of Ramadan For Pharmaceutical Industries And Diagnostic Reagents 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															-1.62	-1.63	-1.89	-2.08	-1.65

Competitive Comparison of Tenth Of Ramadan For Pharmaceutical Industries And Diagnostic Reagents's Beneish M-Score

For the Drug Manufacturers - Specialty & Generic subindustry, Tenth Of Ramadan For Pharmaceutical Industries And Diagnostic Reagents'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.

Tenth Of Ramadan For Pharmaceutical Industries And Diagnostic Reagents's Beneish M-Score Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Tenth Of Ramadan For Pharmaceutical Industries And Diagnostic Reagents's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Tenth Of Ramadan For Pharmaceutical Industries And Diagnostic Reagents's Beneish M-Score falls into.

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Tenth Of Ramadan For Pharmaceutical Industries And Diagnostic Reagents 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 Tenth Of Ramadan For Pharmaceutical Industries And Diagnostic Reagents 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 * 0.8193

0.528 * 1.0164

0.404 * 0.7002

0.892 * 1.4403

0.115 * 0.907

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.8438

4.679 * 0.161038

0.327 * 1.1658

-1.65

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was E£1,559 Mil.
Revenue was 984.32 + 763.229 + 564.906 + 456.233 = E£2,769 Mil.
Gross Profit was 468.147 + 347.088 + 270.789 + 197.64 = E£1,284 Mil.
Total Current Assets was E£3,137 Mil.
Total Assets was E£4,311 Mil.
Property, Plant and Equipment(Net PPE) was E£622 Mil.
Depreciation, Depletion and Amortization(DDA) was E£83 Mil.
Selling, General, & Admin. Expense(SGA) was E£285 Mil.
Total Current Liabilities was E£2,155 Mil.
Long-Term Debt & Capital Lease Obligation was E£7 Mil.
Net Income was 152.844 + 115.678 + 61.836 + 57.009 = E£387 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = E£0 Mil.
Cash Flow from Operations was -323.236 + 20.109 + 61.907 + -65.7 = E£-307 Mil.

Total Receivables was E£1,321 Mil.
Revenue was 534.192 + 545.725 + 450.432 + 392.002 = E£1,922 Mil.
Gross Profit was 254.099 + 265.091 + 207.971 + 178.754 = E£906 Mil.
Total Current Assets was E£2,023 Mil.
Total Assets was E£3,218 Mil.
Property, Plant and Equipment(Net PPE) was E£606 Mil.
Depreciation, Depletion and Amortization(DDA) was E£73 Mil.
Selling, General, & Admin. Expense(SGA) was E£234 Mil.
Total Current Liabilities was E£1,373 Mil.
Long-Term Debt & Capital Lease Obligation was E£12 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)
	=	(1559.182 / 2768.688)	/	(1321.334 / 1922.351)
	=	0.563148	/	0.687353
	=	0.8193

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)
	=	(905.915 / 1922.351)	/	(1283.664 / 2768.688)
	=	0.471254	/	0.463636
	=	1.0164

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 - (3137.015 + 621.516) / 4311.316)	/	(1 - (2022.951 + 606.049) / 3218.272)
	=	0.128217	/	0.183102
	=	0.7002

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
	=	2768.688	/	1922.351
	=	1.4403

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))
	=	(72.884 / (72.884 + 606.049))	/	(83.433 / (83.433 + 621.516))
	=	0.107351	/	0.118353
	=	0.907

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)
	=	(284.751 / 2768.688)	/	(234.296 / 1922.351)
	=	0.102847	/	0.12188
	=	0.8438

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)
	=	((7.19 + 2155.199) / 4311.316)	/	((11.7 + 1372.839) / 3218.272)
	=	0.501561	/	0.430212
	=	1.1658

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
	=	(387.367 - 0	-	-306.92)	/	4311.316
	=	0.161038

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.

Tenth Of Ramadan For Pharmaceutical Industries And Diagnostic Reagents has a M-score of -1.65 signals that the company is likely to be a manipulator.

Tenth Of Ramadan For Pharmaceutical Industries And Diagnostic Reagents Beneish M-Score Related Terms

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Tenth Of Ramadan For Pharmaceutical Industries And Diagnostic Reagents Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Tenth Of Ramadan For Pharmaceutical Industries And Diagnostic Reagents (CAI:RMDA) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

No. 5 Second Industrial Zone, Sixth of October City, Giza, EGY

Website

https://www.ramedapharma.com

Tenth Of Ramadan For Pharmaceutical Industries And Diagnostic Reagents is a pharmaceutical company. The company is engaged in the manufacturing, marketing, selling, and storage of pharmaceutical reagents for both human and veterinary use. It is also involved in manufacturing, marketing, selling and storing diagnostic and pharmaceutical reagents for human, veterinary, and diagnostic use.

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