Embla Medical hf Beneish M-Score Historical Data
The historical data trend for Embla Medical hf'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.
|
Embla Medical hf Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.60 |
-2.94 |
-2.53 |
-2.40 |
-2.49 |
|
Embla Medical hf 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.40 |
-2.40 |
-2.47 |
-2.50 |
-2.49 |
Competitive Comparison
For the Medical Devices subindustry, Embla Medical hf'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.
Embla Medical hf Beneish M-Score Distribution
For the Medical Devices & Instruments industry and Healthcare sector, Embla Medical hf's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Embla Medical hf's Beneish M-Score falls into.
Embla Medical hf 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 Embla Medical hf 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 * 1.0406 | + | 0.528 * 0.9901 | + | 0.404 * 0.9882 | + | 0.892 * 1.0933 | + | 0.115 * 1.0205 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9725 | + | 4.679 * -0.02593 | - | 0.327 * 0.9406 |
| = | -2.46 |
* 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 $127.8 Mil.
Revenue was 210.197 + 192.92 + 201.353 + 181.212 = $785.7 Mil.
Gross Profit was 128.55 + 119.03 + 125.944 + 112.049 = $485.6 Mil.
Total Current Assets was $376.0 Mil.
Total Assets was $1,385.7 Mil.
Property, Plant and Equipment(Net PPE) was $186.1 Mil.
Depreciation, Depletion and Amortization(DDA) was $49.9 Mil.
Selling, General, & Admin. Expense(SGA) was $360.0 Mil.
Total Current Liabilities was $196.2 Mil.
Long-Term Debt & Capital Lease Obligation was $424.4 Mil.
Net Income was 18.994 + 13.894 + 15.782 + 9.719 = $58.4 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.0 Mil.
Cash Flow from Operations was 36.777 + 27.053 + 24.962 + 5.528 = $94.3 Mil.
|
Total Receivables was $112.4 Mil.
Revenue was 190.944 + 176.701 + 180.945 + 170.06 = $718.7 Mil.
Gross Profit was 115.935 + 108.114 + 111.102 + 104.597 = $439.7 Mil.
Total Current Assets was $348.8 Mil.
Total Assets was $1,325.4 Mil.
Property, Plant and Equipment(Net PPE) was $179.3 Mil.
Depreciation, Depletion and Amortization(DDA) was $49.4 Mil.
Selling, General, & Admin. Expense(SGA) was $338.6 Mil.
Total Current Liabilities was $237.0 Mil.
Long-Term Debt & Capital Lease Obligation was $394.1 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) |
| = | (127.844 / 785.682) | / | (112.372 / 718.65) |
| = | 0.162717 | / | 0.156365 |
| | = | 1.0406 |
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) |
| = | (439.748 / 718.65) | / | (485.573 / 785.682) |
| = | 0.611908 | / | 0.618027 |
| | = | 0.9901 |
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 - (375.976 + 186.059) / 1385.682) | / | (1 - (348.847 + 179.32) / 1325.361) |
| = | 0.594398 | / | 0.601492 |
| | = | 0.9882 |
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 |
| = | 785.682 | / | 718.65 |
| | = | 1.0933 |
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)) |
| = | (49.366 / (49.366 + 179.32)) | / | (49.917 / (49.917 + 186.059)) |
| = | 0.215868 | / | 0.211534 |
| | = | 1.0205 |
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) |
| = | (359.97 / 785.682) | / | (338.584 / 718.65) |
| = | 0.458162 | / | 0.471139 |
| | = | 0.9725 |
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) |
| = | ((424.407 + 196.198) / 1385.682) | / | ((394.085 + 237.007) / 1325.361) |
| = | 0.44787 | / | 0.476166 |
| | = | 0.9406 |
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 |
| = | (58.389 - 0 | - | 94.32) | / | 1385.682 |
| | = | -0.02593 |
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.
Embla Medical hf has a M-score of -2.46 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
OSSUY has been successfully added to your