Clover Biopharmaceuticals Beneish M-Score Historical Data
The historical data trend for Clover Biopharmaceuticals'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.
Clover Biopharmaceuticals Beneish M-Score Chart
|
Clover Biopharmaceuticals Annual Data
|
|
Trend |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
- |
- |
- |
- |
- |
|
Clover Biopharmaceuticals Semi-Annual Data
|
|
Dec19 |
Dec20 |
Jun21 |
Dec21 |
Jun22 |
Dec22 |
Jun23 |
Dec23 |
Jun24 |
Dec24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
- |
- |
- |
- |
- |
Competitive Comparison of Clover Biopharmaceuticals's Beneish M-Score
For the Biotechnology subindustry, Clover Biopharmaceuticals'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.
Clover Biopharmaceuticals's Beneish M-Score Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Clover Biopharmaceuticals's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Clover Biopharmaceuticals's Beneish M-Score falls into.
Clover Biopharmaceuticals 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 Clover Biopharmaceuticals 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 * | + | 0.528 * | + | 0.404 * | + | 0.892 * | + | 0.115 * |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * | + | 4.679 * | - | 0.327 * |
| = | |
* 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 HK$101.62 Mil.
Revenue was HK$42.94 Mil.
Gross Profit was HK$26.51 Mil.
Total Current Assets was HK$2,077.65 Mil.
Total Assets was HK$2,298.50 Mil.
Property, Plant and Equipment(Net PPE) was HK$177.25 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$81.75 Mil.
Selling, General, & Admin. Expense(SGA) was HK$117.30 Mil.
Total Current Liabilities was HK$2,490.54 Mil.
Long-Term Debt & Capital Lease Obligation was HK$8.59 Mil.
Net Income was HK$-151.53 Mil.
Gross Profit was HK$0.00 Mil.
Cash Flow from Operations was HK$-796.14 Mil.
|
Total Receivables was HK$150.92 Mil.
Revenue was HK$0.00 Mil.
Gross Profit was HK$0.00 Mil.
Total Current Assets was HK$4,902.30 Mil.
Total Assets was HK$5,242.65 Mil.
Property, Plant and Equipment(Net PPE) was HK$269.96 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$67.11 Mil.
Selling, General, & Admin. Expense(SGA) was HK$126.27 Mil.
Total Current Liabilities was HK$3,159.42 Mil.
Long-Term Debt & Capital Lease Obligation was HK$41.03 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) |
| = | (101.619 / 42.936) | / | (150.921 / 0) |
| = | 2.366755 | / | |
| | = | |
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) | / | (26.514 / 42.936) |
| = | | / | 0.617524 |
| | = | |
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 - (2077.654 + 177.253) / 2298.504) | / | (1 - (4902.298 + 269.959) / 5242.647) |
| = | 0.018968 | / | 0.013426 |
| | = | |
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 |
| = | 42.936 | / | 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)) |
| = | (67.108 / (67.108 + 269.959)) | / | (81.751 / (81.751 + 177.253)) |
| = | 0.199094 | / | 0.315636 |
| | = | |
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) |
| = | (117.297 / 42.936) | / | (126.267 / 0) |
| = | 2.731903 | / | |
| | = | |
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) |
| = | ((8.589 + 2490.538) / 2298.504) | / | ((41.026 + 3159.415) / 5242.647) |
| = | 1.087284 | / | 0.610463 |
| | = | |
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 |
| = | (-151.531 - 0 | - | -796.138) | / | 2298.504 |
| | = | 0.280446 |
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.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
HKSE:02197 has been successfully added to your