CRISPR Therapeutics AG Beneish M-Score Historical Data
The historical data trend for CRISPR Therapeutics 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.
CRISPR Therapeutics AG Beneish M-Score Chart
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CRISPR Therapeutics AG Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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78.38 |
581.81 |
1,495.43 |
-370.48 |
547.80 |
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CRISPR Therapeutics AG Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
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Dec20 |
Mar21 |
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Mar22 |
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Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
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-370.48 |
-8.51 |
61.86 |
-9.68 |
547.80 |
Competitive Comparison of CRISPR Therapeutics AG's Beneish M-Score
For the Biotechnology subindustry, CRISPR Therapeutics 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.
CRISPR Therapeutics AG's Beneish M-Score Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, CRISPR Therapeutics AG's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where CRISPR Therapeutics AG's Beneish M-Score falls into.
CRISPR Therapeutics 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 CRISPR Therapeutics AG for today is based on a combination of the following eight different indices:
| M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
| = | -4.84 | + | 0.92 * 1 | + | 0.528 * -388.6998 | + | 0.404 * 0.2253 | + | 0.892 * 848.6239 | + | 0.115 * 1.1515 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.0009 | + | 4.679 * 0.015675 | - | 0.327 * 0.9557 |
| = | 547.80 |
* 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.
| This Year (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $200.0 Mil.
Revenue was 200 + 0 + 70 + 100 = $370.0 Mil.
Gross Profit was 180 + -23.422 + 25.364 + 57.808 = $239.8 Mil.
Total Current Assets was $1,908.1 Mil.
Total Assets was $2,229.6 Mil.
Property, Plant and Equipment(Net PPE) was $305.9 Mil.
Depreciation, Depletion and Amortization(DDA) was $19.8 Mil.
Selling, General, & Admin. Expense(SGA) was $76.2 Mil.
Total Current Liabilities was $108.8 Mil.
Long-Term Debt & Capital Lease Obligation was $223.0 Mil.
Net Income was 89.347 + -112.152 + -77.74 + -53.065 = $-153.6 Mil.
Non Operating Income was 19.997 + 20.671 + 18.406 + 12.742 = $71.8 Mil.
Cash Flow from Operations was -96.073 + -39.856 + -133.245 + 8.799 = $-260.4 Mil.
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Total Receivables was $0.0 Mil.
Revenue was 0.006 + 0.094 + 0.158 + 0.178 = $0.4 Mil.
Gross Profit was -6.817 + -38.765 + -33.764 + -30.468 = $-109.8 Mil.
Total Current Assets was $1,853.0 Mil.
Total Assets was $2,243.1 Mil.
Property, Plant and Equipment(Net PPE) was $320.6 Mil.
Depreciation, Depletion and Amortization(DDA) was $24.2 Mil.
Selling, General, & Admin. Expense(SGA) was $102.5 Mil.
Total Current Liabilities was $121.1 Mil.
Long-Term Debt & Capital Lease Obligation was $228.2 Mil.
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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) |
| = | (200 / 370) | / | (0 / 0.436) |
| = | 0.540541 | / | 0 |
| | = | 1 |
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) |
| = | (-109.814 / 0.436) | / | (239.75 / 370) |
| = | -251.866972 | / | 0.647973 |
| | = | -388.6998 |
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 - (1908.078 + 305.938) / 2229.571) | / | (1 - (1853.026 + 320.555) / 2243.057) |
| = | 0.006977 | / | 0.030974 |
| | = | 0.2253 |
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 |
| = | 370 | / | 0.436 |
| | = | 848.6239 |
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)) |
| = | (24.172 / (24.172 + 320.555)) | / | (19.837 / (19.837 + 305.938)) |
| = | 0.070119 | / | 0.060892 |
| | = | 1.1515 |
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) |
| = | (76.162 / 370) | / | (102.464 / 0.436) |
| = | 0.205843 | / | 235.009174 |
| | = | 0.0009 |
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) |
| = | ((223.007 + 108.791) / 2229.571) | / | ((228.179 + 121.107) / 2243.057) |
| = | 0.148817 | / | 0.155719 |
| | = | 0.9557 |
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 |
| = | (-153.61 - 71.816 | - | -260.375) | / | 2229.571 |
| | = | 0.015675 |
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.
CRISPR Therapeutics AG has a M-score of 547.80 signals that the company is likely to be a manipulator.
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