Xlife Sciences AG (CHIX:XLSZ) Beneish M-Score : 14.25 (As of Jun. 10, 2024)

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What is Xlife Sciences AG 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 14.25 higher than -1.78, which implies that the company might have manipulated its financial results.

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

CHIX:XLSz' s Beneish M-Score Range Over the Past 10 Years
Min: -7.05 Med: -1.14 Max: 14.25
Current: 14.25

During the past 6 years, the highest Beneish M-Score of Xlife Sciences AG was 14.25. The lowest was -7.05. And the median was -1.14.

Xlife Sciences AG Beneish M-Score Historical Data

The historical data trend for Xlife Sciences AG'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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Xlife Sciences AG Beneish M-Score Chart

Xlife Sciences AG Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-7.05

-1.41

-0.87

14.25

Xlife Sciences AG Quarterly Data
	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Beneish M-Score	Get a 7-Day Free Trial					-1.41	-	-0.87	-	14.25

Competitive Comparison of Xlife Sciences AG's Beneish M-Score

For the Biotechnology subindustry, Xlife Sciences AG'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.

Xlife Sciences AG's Beneish M-Score Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Xlife Sciences AG's Beneish M-Score distribution charts can be found below:

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

Xlife Sciences AG 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 Xlife Sciences AG 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 * 20.6934

0.528 * 0.8828

0.404 * 0.9702

0.892 * 1.6758

0.115 * 0.1624

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.5324

4.679 * 0.06568

0.327 * 0.8817

16.50

This Year (Dec23) TTM:

Last Year (Dec21) TTM:

Total Receivables was CHF17.89 Mil.
Revenue was 0.64 + 0.348 + 0.656 + 0.372 = CHF2.02 Mil.
Gross Profit was 0.326 + 0.123 + 0.179 + 0.006 = CHF0.63 Mil.
Total Current Assets was CHF18.12 Mil.
Total Assets was CHF511.99 Mil.
Property, Plant and Equipment(Net PPE) was CHF0.39 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF32.05 Mil.
Selling, General, & Admin. Expense(SGA) was CHF3.74 Mil.
Total Current Liabilities was CHF5.83 Mil.
Long-Term Debt & Capital Lease Obligation was CHF55.57 Mil.
Net Income was 20.763 + -5.884 + 22.015 + -7.703 = CHF29.19 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = CHF0.00 Mil.
Cash Flow from Operations was 2.911 + -2.74 + -1.206 + -3.402 = CHF-4.44 Mil.

Total Receivables was CHF0.52 Mil.
Revenue was 0.491 + 0.315 + 0.236 + 0.161 = CHF1.20 Mil.
Gross Profit was 0.329 + 0.03 + 0.044 + -0.069 = CHF0.33 Mil.
Total Current Assets was CHF2.47 Mil.
Total Assets was CHF480.06 Mil.
Property, Plant and Equipment(Net PPE) was CHF0.67 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF0.13 Mil.
Selling, General, & Admin. Expense(SGA) was CHF4.19 Mil.
Total Current Liabilities was CHF2.33 Mil.
Long-Term Debt & Capital Lease Obligation was CHF62.97 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)
	=	(17.894 / 2.016)	/	(0.516 / 1.203)
	=	8.875992	/	0.428928
	=	20.6934

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)
	=	(0.334 / 1.203)	/	(0.634 / 2.016)
	=	0.277639	/	0.314484
	=	0.8828

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 - (18.118 + 0.394) / 511.994)	/	(1 - (2.472 + 0.67) / 480.064)
	=	0.963843	/	0.993455
	=	0.9702

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
	=	2.016	/	1.203
	=	1.6758

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))
	=	(0.128 / (0.128 + 0.67))	/	(32.052 / (32.052 + 0.394))
	=	0.160401	/	0.987857
	=	0.1624

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)
	=	(3.735 / 2.016)	/	(4.186 / 1.203)
	=	1.852679	/	3.479634
	=	0.5324

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)
	=	((55.573 + 5.832) / 511.994)	/	((62.971 + 2.33) / 480.064)
	=	0.119933	/	0.136026
	=	0.8817

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
	=	(29.191 - 0	-	-4.437)	/	511.994
	=	0.06568

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.

Xlife Sciences AG has a M-score of 16.50 signals that the company is likely to be a manipulator.

Xlife Sciences AG Beneish M-Score Related Terms

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Xlife Sciences AG (CHIX:XLSZ) Business Description

Industry

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XLS:Switzerland

Address

Talacker 35, Zürich, CHE, 8001

Website

https://www.xlifesciences.ch

Xlife Sciences AG is a Swiss company with a focus on performance technologies in life sciences. The company allows its investors a very early and direct Entry into the further development of innovative and future-oriented technologies.

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