Orion Pharma Beneish M-Score Historical Data
The historical data trend for Orion Pharma'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.
Orion Pharma Beneish M-Score Chart
|
Orion Pharma Annual Data
|
|
Trend |
Dec13 |
Dec14 |
Jun16 |
Jun17 |
Jun18 |
Jun19 |
Jun20 |
Jun21 |
Jun22 |
Jun23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.65 |
-2.63 |
-1.86 |
-2.16 |
-2.31 |
|
Orion Pharma Quarterly Data
|
|
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-1.29 |
-0.65 |
-2.31 |
-2.80 |
-2.81 |
Competitive Comparison of Orion Pharma's Beneish M-Score
For the Utilities - Independent Power Producers subindustry, Orion Pharma'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.
Orion Pharma's Beneish M-Score Distribution in the Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Orion Pharma's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Orion Pharma's Beneish M-Score falls into.
Orion Pharma 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 Orion Pharma 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 * 1.2481 | + | 0.528 * 0.8814 | + | 0.404 * 0.9102 | + | 0.892 * 0.7522 | + | 0.115 * 1.2979 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.8906 | + | 4.679 * -0.024354 | - | 0.327 * 1.0159 |
| = | -2.81 |
* 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 BDT15,583 Mil.
Revenue was 2135.547 + 3609.652 + 3715.772 + 2297.653 = BDT11,759 Mil.
Gross Profit was 622.767 + 588.168 + 447.062 + 488.7 = BDT2,147 Mil.
Total Current Assets was BDT19,377 Mil.
Total Assets was BDT54,419 Mil.
Property, Plant and Equipment(Net PPE) was BDT27,493 Mil.
Depreciation, Depletion and Amortization(DDA) was BDT560 Mil.
Selling, General, & Admin. Expense(SGA) was BDT483 Mil.
Total Current Liabilities was BDT12,825 Mil.
Long-Term Debt & Capital Lease Obligation was BDT18,788 Mil.
Net Income was 110.183 + 176.734 + 69.325 + 123.866 = BDT480 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = BDT0 Mil.
Cash Flow from Operations was -281.934 + 909.517 + 891.008 + 286.84 = BDT1,805 Mil.
|
Total Receivables was BDT16,599 Mil.
Revenue was 3998.49 + 3914.68 + 6581.68 + 1137.883 = BDT15,633 Mil.
Gross Profit was 798.418 + 545.984 + 641.923 + 529.2 = BDT2,516 Mil.
Total Current Assets was BDT22,339 Mil.
Total Assets was BDT54,389 Mil.
Property, Plant and Equipment(Net PPE) was BDT23,760 Mil.
Depreciation, Depletion and Amortization(DDA) was BDT632 Mil.
Selling, General, & Admin. Expense(SGA) was BDT339 Mil.
Total Current Liabilities was BDT10,978 Mil.
Long-Term Debt & Capital Lease Obligation was BDT20,122 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) |
| = | (15582.799 / 11758.624) | / | (16599.135 / 15632.733) |
| = | 1.325223 | / | 1.061819 |
| | = | 1.2481 |
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) |
| = | (2515.525 / 15632.733) | / | (2146.697 / 11758.624) |
| = | 0.160914 | / | 0.182564 |
| | = | 0.8814 |
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 - (19377.022 + 27492.526) / 54419.372) | / | (1 - (22338.93 + 23760.139) / 54389.374) |
| = | 0.138734 | / | 0.152425 |
| | = | 0.9102 |
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 |
| = | 11758.624 | / | 15632.733 |
| | = | 0.7522 |
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)) |
| = | (632.172 / (632.172 + 23760.139)) | / | (560.175 / (560.175 + 27492.526)) |
| = | 0.025917 | / | 0.019969 |
| | = | 1.2979 |
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) |
| = | (482.745 / 11758.624) | / | (339.459 / 15632.733) |
| = | 0.041055 | / | 0.021715 |
| | = | 1.8906 |
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) |
| = | ((18787.524 + 12824.914) / 54419.372) | / | ((20122.275 + 10978.274) / 54389.374) |
| = | 0.580904 | / | 0.571813 |
| | = | 1.0159 |
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 |
| = | (480.108 - 0 | - | 1805.431) | / | 54419.372 |
| | = | -0.024354 |
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.
Orion Pharma has a M-score of -2.81 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
DHA:ORIONPHARM has been successfully added to your