Oxford Nanopore Technologies (CHIX:ONTL) Beneish M-Score : -2.18 (As of Dec. 14, 2024)

View and export this data going back to 2021. Start your Free Trial

What is Oxford Nanopore Technologies 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 -2.18 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

CHIX:ONTl' s Beneish M-Score Range Over the Past 10 Years
Min: -3.63 Med: -1.93 Max: -1.11
Current: -2.18

During the past 6 years, the highest Beneish M-Score of Oxford Nanopore Technologies was -1.11. The lowest was -3.63. And the median was -1.93.

Oxford Nanopore Technologies Beneish M-Score Historical Data

The historical data trend for Oxford Nanopore Technologies'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.

* Premium members only.

Oxford Nanopore Technologies Beneish M-Score Chart

Oxford Nanopore Technologies Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

Get a 7-Day Free Trial

-1.67

-3.63

-1.11

-2.18

Oxford Nanopore Technologies Semi-Annual Data
	Dec18	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
Beneish M-Score	Get a 7-Day Free Trial						-	-1.11	-	-2.18	-

Competitive Comparison of Oxford Nanopore Technologies's Beneish M-Score

For the Biotechnology subindustry, Oxford Nanopore Technologies'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.

Oxford Nanopore Technologies's Beneish M-Score Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Oxford Nanopore Technologies's Beneish M-Score distribution charts can be found below:

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

Oxford Nanopore Technologies 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 Oxford Nanopore Technologies 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 * 1.0548

0.528 * 1.169

0.404 * 2.1385

0.892 * 0.8543

0.115 * 0.999

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1869

4.679 * -0.022141

0.327 * 1.1034

-2.18

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was £42.3 Mil.
Revenue was £169.7 Mil.
Gross Profit was £90.5 Mil.
Total Current Assets was £447.2 Mil.
Total Assets was £777.1 Mil.
Property, Plant and Equipment(Net PPE) was £82.4 Mil.
Depreciation, Depletion and Amortization(DDA) was £41.6 Mil.
Selling, General, & Admin. Expense(SGA) was £155.2 Mil.
Total Current Liabilities was £89.2 Mil.
Long-Term Debt & Capital Lease Obligation was £37.3 Mil.
Net Income was £-154.5 Mil.
Gross Profit was £0.0 Mil.
Cash Flow from Operations was £-137.3 Mil.

Total Receivables was £47.0 Mil.
Revenue was £198.6 Mil.
Gross Profit was £123.8 Mil.
Total Current Assets was £638.0 Mil.
Total Assets was £823.9 Mil.
Property, Plant and Equipment(Net PPE) was £63.2 Mil.
Depreciation, Depletion and Amortization(DDA) was £31.9 Mil.
Selling, General, & Admin. Expense(SGA) was £153.1 Mil.
Total Current Liabilities was £91.5 Mil.
Long-Term Debt & Capital Lease Obligation was £30.0 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)
	=	(42.326 / 169.668)	/	(46.97 / 198.603)
	=	0.249464	/	0.236502
	=	1.0548

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)
	=	(123.81 / 198.603)	/	(90.481 / 169.668)
	=	0.623404	/	0.533283
	=	1.169

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 - (447.183 + 82.416) / 777.062)	/	(1 - (638 + 63.2) / 823.89)
	=	0.31846	/	0.148916
	=	2.1385

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
	=	169.668	/	198.603
	=	0.8543

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))
	=	(31.871 / (31.871 + 63.2))	/	(41.627 / (41.627 + 82.416))
	=	0.335234	/	0.335585
	=	0.999

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)
	=	(155.248 / 169.668)	/	(153.103 / 198.603)
	=	0.91501	/	0.7709
	=	1.1869

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)
	=	((37.333 + 89.199) / 777.062)	/	((30.042 + 91.539) / 823.89)
	=	0.162834	/	0.147569
	=	1.1034

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
	=	(-154.507 - 0	-	-137.302)	/	777.062
	=	-0.022141

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.

Oxford Nanopore Technologies has a M-score of -2.18 suggests that the company is unlikely to be a manipulator.

Oxford Nanopore Technologies Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Oxford Nanopore Technologies's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Oxford Nanopore Technologies Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Oxford Nanopore Technologies PLC (CHIX:ONTl) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

OXFYY:USA ONTTF:USA ONT:UK 4R0:Germany

Address

Edmund Halley Road, Gosling Building, Oxford Science Park, Oxford, Oxfordshire, GBR, OX4 4DQ

Website

https://www.nanoporetech.com

Oxford Nanopore Technologies PLC makes a novel generation of DNA/RNA sequencing technology that provides rich data and is fast, accessible, and easy to use. The company is predominantly involved in researching, developing, manufacturing, and commercializing a nanopore-based sequencing platform that allows the real-time analysis of deoxyribonucleic acid (DNA) or ribonucleic acid (RNA). This enables its customers to perform scientific/biomedical research in a range of areas, including human genetics, cancer research, outbreak surveillance, environmental analysis, pathogens/antimicrobial resistance, microbiome analysis, and crop science. The company's reportable segments are; Life Science Research Tools which generates key revenue, and COVID Testing.

Oxford Nanopore Technologies Headlines

No Headlines