eFFECTOR Therapeutics (FRA:LWK) Beneish M-Score : 0.00 (As of Jun. 19, 2024)

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What is eFFECTOR Therapeutics 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.

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

During the past 4 years, the highest Beneish M-Score of eFFECTOR Therapeutics was 0.00. The lowest was 0.00. And the median was 0.00.

eFFECTOR Therapeutics Beneish M-Score Historical Data

The historical data trend for eFFECTOR Therapeutics'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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eFFECTOR Therapeutics Beneish M-Score Chart

eFFECTOR Therapeutics Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

eFFECTOR Therapeutics Quarterly Data
	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial										-	-	-	-	-

Competitive Comparison of eFFECTOR Therapeutics's Beneish M-Score

For the Biotechnology subindustry, eFFECTOR Therapeutics'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.

eFFECTOR Therapeutics's Beneish M-Score Distribution in the Biotechnology Industry

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

* The bar in red indicates where eFFECTOR Therapeutics's Beneish M-Score falls into.

eFFECTOR Therapeutics 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 eFFECTOR Therapeutics 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was €0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = €0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = €0.00 Mil.
Total Current Assets was €24.15 Mil.
Total Assets was €24.96 Mil.
Property, Plant and Equipment(Net PPE) was €0.38 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.10 Mil.
Selling, General, & Admin. Expense(SGA) was €10.25 Mil.
Total Current Liabilities was €23.52 Mil.
Long-Term Debt & Capital Lease Obligation was €0.17 Mil.
Net Income was -8.127 + -8.372 + -7.78 + -7.72 = €-32.00 Mil.
Non Operating Income was -0.011 + 0.003 + 0.006 + -0.013 = €-0.02 Mil.
Cash Flow from Operations was -6.696 + -5.104 + -7.266 + -7.93 = €-27.00 Mil.

Total Receivables was €0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = €0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = €0.00 Mil.
Total Current Assets was €19.52 Mil.
Total Assets was €20.48 Mil.
Property, Plant and Equipment(Net PPE) was €0.29 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.07 Mil.
Selling, General, & Admin. Expense(SGA) was €11.66 Mil.
Total Current Liabilities was €24.89 Mil.
Long-Term Debt & Capital Lease Obligation was €0.04 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)
	=	(0 / 0)	/	(0 / 0)
	=		/
	=

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 / 0)	/	(0 / 0)
	=		/
	=

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 - (24.15 + 0.382) / 24.961)	/	(1 - (19.515 + 0.29) / 20.481)
	=	0.017187	/	0.033006
	=

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
	=	0	/	0
	=

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))
	=	(0.072 / (0.072 + 0.29))	/	(0.103 / (0.103 + 0.382))
	=	0.198895	/	0.212371
	=

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)
	=	(10.246 / 0)	/	(11.661 / 0)
	=		/
	=

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)
	=	((0.165 + 23.523) / 24.961)	/	((0.04 + 24.893) / 20.481)
	=	0.949	/	1.217372
	=

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
	=	(-31.999 - -0.015	-	-26.996)	/	24.961
	=	-0.199832

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.

eFFECTOR Therapeutics Beneish M-Score Related Terms

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eFFECTOR Therapeutics (FRA:LWK) Business Description

Industry

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Traded in Other Exchanges

EFTR:USA LWK:Germany

Address

142 North Cedros Avenue, Suite B, Solana Beach, CA, USA, 92075

Website

https://www.effector.com

eFFECTOR Therapeutics Inc is a clinical-stage biopharmaceutical company focused on pioneering the development of a new class of oncology drugs referred to as selective translation regulator inhibitors (STRIs).

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