Abbott Laboratories (Pakistan) Beneish M-Score Historical Data
The historical data trend for Abbott Laboratories (Pakistan)'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.
Abbott Laboratories (Pakistan) Beneish M-Score Chart
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Abbott Laboratories (Pakistan) Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-1.95 |
-3.26 |
-2.82 |
-2.37 |
-2.08 |
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Abbott Laboratories (Pakistan) Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-1.52 |
-1.93 |
-1.97 |
-2.08 |
-2.00 |
Competitive Comparison of Abbott Laboratories (Pakistan)'s Beneish M-Score
For the Drug Manufacturers - Specialty & Generic subindustry, Abbott Laboratories (Pakistan)'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.
Abbott Laboratories (Pakistan)'s Beneish M-Score Distribution in the Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Abbott Laboratories (Pakistan)'s Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Abbott Laboratories (Pakistan)'s Beneish M-Score falls into.
Abbott Laboratories (Pakistan) 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 Abbott Laboratories (Pakistan) 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 * 1.043 | + | 0.528 * 1.173 | + | 0.404 * 1.0853 | + | 0.892 * 1.1249 | + | 0.115 * 1.0032 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0016 | + | 4.679 * 0.032812 | - | 0.327 * 0.8401 |
| = | -2.00 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was ₨4,777 Mil.
Revenue was 16028.928 + 14250.184 + 13981.908 + 13437.26 = ₨57,698 Mil.
Gross Profit was 4450.803 + 3533.66 + 2509.771 + 2597.726 = ₨13,092 Mil.
Total Current Assets was ₨22,576 Mil.
Total Assets was ₨36,109 Mil.
Property, Plant and Equipment(Net PPE) was ₨13,412 Mil.
Depreciation, Depletion and Amortization(DDA) was ₨1,630 Mil.
Selling, General, & Admin. Expense(SGA) was ₨5,369 Mil.
Total Current Liabilities was ₨14,561 Mil.
Long-Term Debt & Capital Lease Obligation was ₨54 Mil.
Net Income was 1518.76 + 1054.473 + 6.671 + -579.846 = ₨2,000 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₨0 Mil.
Cash Flow from Operations was -250.549 + 3378.113 + 369.92 + -2682.247 = ₨815 Mil.
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Total Receivables was ₨4,072 Mil.
Revenue was 13805.918 + 12306.285 + 12271.008 + 12909.27 = ₨51,292 Mil.
Gross Profit was 3207.31 + 2424.352 + 3640.266 + 4380.188 = ₨13,652 Mil.
Total Current Assets was ₨24,150 Mil.
Total Assets was ₨36,540 Mil.
Property, Plant and Equipment(Net PPE) was ₨12,278 Mil.
Depreciation, Depletion and Amortization(DDA) was ₨1,497 Mil.
Selling, General, & Admin. Expense(SGA) was ₨4,765 Mil.
Total Current Liabilities was ₨17,473 Mil.
Long-Term Debt & Capital Lease Obligation was ₨132 Mil.
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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) |
| = | (4777.126 / 57698.28) | / | (4071.863 / 51292.481) |
| = | 0.082795 | / | 0.079385 |
| | = | 1.043 |
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) |
| = | (13652.116 / 51292.481) | / | (13091.96 / 57698.28) |
| = | 0.266162 | / | 0.226904 |
| | = | 1.173 |
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 - (22576.124 + 13411.872) / 36108.882) | / | (1 - (24149.505 + 12277.951) / 36540.171) |
| = | 0.003348 | / | 0.003085 |
| | = | 1.0853 |
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 |
| = | 57698.28 | / | 51292.481 |
| | = | 1.1249 |
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)) |
| = | (1497.232 / (1497.232 + 12277.951)) | / | (1629.581 / (1629.581 + 13411.872)) |
| = | 0.108691 | / | 0.108339 |
| | = | 1.0032 |
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) |
| = | (5368.51 / 57698.28) | / | (4764.869 / 51292.481) |
| = | 0.093045 | / | 0.092896 |
| | = | 1.0016 |
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) |
| = | ((54.268 + 14560.631) / 36108.882) | / | ((132.11 + 17473.013) / 36540.171) |
| = | 0.404745 | / | 0.481802 |
| | = | 0.8401 |
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 |
| = | (2000.058 - 0 | - | 815.237) | / | 36108.882 |
| | = | 0.032812 |
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.
Abbott Laboratories (Pakistan) has a M-score of -2.00 suggests that the company is unlikely to be a manipulator.
Abbott Laboratories (Pakistan) (KAR:ABOT) Business Description
Traded in Other Exchanges
N/A
Address
Hyderabad Road, Landhi, P.O. Box 7229, Plot No. 258 & 324, Opposite Radio Pakistan Transmission Centre, Karachi, PAK, 75120
Abbott Laboratories (Pakistan) Ltd is engaged in manufacturing, importing, and marketing research-based pharmaceutical, nutritional, diagnostic, diabetes care, molecular devices, hospital, and consumer products. Its operating segments are Pharmaceutical, Nutritional, Diagnostics, and Others. It generates maximum revenue from the Pharmaceutical segment. Geographically, it derives the majority of its revenue from Pakistan and also has a presence in Afghanistan, Sri Lanka, Bangladesh, and Switzerland. Its Brands include Duphaston, Surbex Z, Serc, Duphala, Pediasur, Similac, and others.
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