Mega Genomics (HKSE:06667) Beneish M-Score : -3.78 (As of Mar. 29, 2025)

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What is Mega Genomics 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.

Good Sign:

Beneish M-Score -3.78 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HKSE:06667' s Beneish M-Score Range Over the Past 10 Years
Min: -3.78 Med: -3.37 Max: -0.38
Current: -3.78

During the past 5 years, the highest Beneish M-Score of Mega Genomics was -0.38. The lowest was -3.78. And the median was -3.37.

Mega Genomics Beneish M-Score Historical Data

The historical data trend for Mega Genomics'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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Mega Genomics Beneish M-Score Chart

Mega Genomics Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

-0.38

-3.37

-3.78

Mega Genomics Semi-Annual Data
	Dec19	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
Beneish M-Score	Get a 7-Day Free Trial				-	-3.37	-	-3.78	-

Competitive Comparison of Mega Genomics's Beneish M-Score

For the Diagnostics & Research subindustry, Mega Genomics'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.

Mega Genomics's Beneish M-Score Distribution in the Medical Diagnostics & Research Industry

For the Medical Diagnostics & Research industry and Healthcare sector, Mega Genomics's Beneish M-Score distribution charts can be found below:

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

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Mega Genomics 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 Mega Genomics 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 * 0.6164

0.528 * 0.961

0.404 * 0.8351

0.892 * 1.0169

0.115 * 1.6953

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9312

4.679 * -0.167783

0.327 * 1.5535

-3.78

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was HK$135.5 Mil.
Revenue was HK$165.5 Mil.
Gross Profit was HK$96.6 Mil.
Total Current Assets was HK$730.4 Mil.
Total Assets was HK$871.2 Mil.
Property, Plant and Equipment(Net PPE) was HK$102.9 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$16.5 Mil.
Selling, General, & Admin. Expense(SGA) was HK$82.3 Mil.
Total Current Liabilities was HK$125.1 Mil.
Long-Term Debt & Capital Lease Obligation was HK$39.4 Mil.
Net Income was HK$32.9 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$179.0 Mil.

Total Receivables was HK$216.1 Mil.
Revenue was HK$162.7 Mil.
Gross Profit was HK$91.3 Mil.
Total Current Assets was HK$691.3 Mil.
Total Assets was HK$788.1 Mil.
Property, Plant and Equipment(Net PPE) was HK$55.6 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$17.1 Mil.
Selling, General, & Admin. Expense(SGA) was HK$86.9 Mil.
Total Current Liabilities was HK$90.7 Mil.
Long-Term Debt & Capital Lease Obligation was HK$5.0 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)
	=	(135.473 / 165.489)	/	(216.11 / 162.735)
	=	0.818622	/	1.327987
	=	0.6164

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)
	=	(91.261 / 162.735)	/	(96.576 / 165.489)
	=	0.560795	/	0.58358
	=	0.961

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 - (730.401 + 102.869) / 871.241)	/	(1 - (691.336 + 55.599) / 788.064)
	=	0.043583	/	0.05219
	=	0.8351

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
	=	165.489	/	162.735
	=	1.0169

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))
	=	(17.061 / (17.061 + 55.599))	/	(16.538 / (16.538 + 102.869))
	=	0.234806	/	0.138501
	=	1.6953

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)
	=	(82.262 / 165.489)	/	(86.871 / 162.735)
	=	0.497084	/	0.533819
	=	0.9312

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)
	=	((39.413 + 125.053) / 871.241)	/	((5.032 + 90.729) / 788.064)
	=	0.188772	/	0.121514
	=	1.5535

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
	=	(32.855 - 0	-	179.034)	/	871.241
	=	-0.167783

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.

Mega Genomics has a M-score of -3.78 suggests that the company is unlikely to be a manipulator.

Mega Genomics Beneish M-Score Related Terms

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Mega Genomics Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Diagnostics & Research » Mega Genomics Ltd (HKSE:06667) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

North Garden Road, 401 Health Work, Haidian District, Beijing, CHN

Website

https://www.megagenomics.cn

Mega Genomics Ltd is a genetic testing platform company in China with a focus on consumer genetic testing and cancer screening services. The company has launched dozens of testing services, covering a wide range of fields such as nutrition and metabolism, cancer risk assessment, chronic disease susceptibility, cancer screening, and infectious disease diagnosis, to meet consumers growing preventive medical needs. It generates a majority of its revenue from consumer genetic testing services.

Executives

Dongyin Industrial (shenzhen) Co., Ltd.	2106 Person having a security interest in shares
Dongyin (tianjin) Enterprise Management Consulting Co., Ltd.	2106 Person having a security interest in shares
Dongfu Hetong (tianjin) Equity Investment Fund Partnership Enterprise (limited Partnership)	2106 Person having a security interest in shares
Yurong Technology Limited	2101 Beneficial owner
Dongfu (beijing) Investment Management Co., Ltd.	2106 Person having a security interest in shares
Dong Yin Development (holdings) Limited	2106 Person having a security interest in shares
China Orient Asset Management Co., Ltd.	2106 Person having a security interest in shares
Beijing Dongfu Huitong Investment Management Center (limited Partnership)	2106 Person having a security interest in shares
Guo Meiling	2101 Beneficial owner
Yu Rong	2501 Other
Lin Lin	2101 Beneficial owner
Infinite Galaxy Health Limited	2101 Beneficial owner
Bei Jing He He Heng Ye Ke Ji You Xian Gong Si	2201 Interest of corporation controlled by you
Tian Jin Shi Ji Yu Neng Qi Ye Guan Li He Huo Qi Ye You Xian He Huo	2101 Beneficial owner
Bei Jing Shi Ji Yu Neng Ke Ji You Xian Gong Si	2501 Other

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