GE HealthCare Technologies (MEX:GEHC) Beneish M-Score : -2.53 (As of Mar. 28, 2025)

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What is GE HealthCare Technologies 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 -2.53 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

MEX:GEHC' s Beneish M-Score Range Over the Past 10 Years
Min: -2.55 Med: -2.54 Max: -2.53
Current: -2.53

During the past 6 years, the highest Beneish M-Score of GE HealthCare Technologies was -2.53. The lowest was -2.55. And the median was -2.54.

GE HealthCare Technologies Beneish M-Score Historical Data

The historical data trend for GE HealthCare Technologies'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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GE HealthCare Technologies Beneish M-Score Chart

GE HealthCare Technologies Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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-2.55

-2.53

GE HealthCare Technologies Quarterly Data
	Dec19	Dec20	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24
Beneish M-Score	Get a 7-Day Free Trial											-2.55	-2.62	-2.60	-2.58	-2.53

Competitive Comparison of GE HealthCare Technologies's Beneish M-Score

For the Health Information Services subindustry, GE HealthCare Technologies'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.

GE HealthCare Technologies's Beneish M-Score Distribution in the Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, GE HealthCare Technologies's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where GE HealthCare Technologies's Beneish M-Score falls into.

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GE HealthCare Technologies 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 GE HealthCare Technologies 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 * 1.1356

0.528 * 0.9699

0.404 * 0.9853

0.892 * 1.0963

0.115 * 1.1743

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9891

4.679 * -0.012661

0.327 * 0.9578

-2.31

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was MXN91,014 Mil.
Revenue was 110931.468 + 95753.929 + 88650.978 + 77172.586 = MXN372,509 Mil.
Gross Profit was 47446.717 + 39892.548 + 36676.846 + 31566.077 = MXN155,582 Mil.
Total Current Assets was MXN206,492 Mil.
Total Assets was MXN690,094 Mil.
Property, Plant and Equipment(Net PPE) was MXN53,182 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN10,921 Mil.
Selling, General, & Admin. Expense(SGA) was MXN80,701 Mil.
Total Current Liabilities was MXN199,235 Mil.
Long-Term Debt & Capital Lease Obligation was MXN161,819 Mil.
Net Income was 15036.96 + 9274.131 + 7841.004 + 6206.999 = MXN38,359 Mil.
Non Operating Income was 3003.221 + 2087.172 + 1850.33 + 1808.992 = MXN8,750 Mil.
Cash Flow from Operations was 19041.254 + 14531.441 + -2180.092 + 6953.831 = MXN38,346 Mil.

Total Receivables was MXN73,108 Mil.
Revenue was 88367.935 + 83993.921 + 82582.166 + 84843.675 = MXN339,788 Mil.
Gross Profit was 36596.479 + 33705.566 + 33259.166 + 34085.275 = MXN137,646 Mil.
Total Current Assets was MXN159,728 Mil.
Total Assets was MXN550,882 Mil.
Property, Plant and Equipment(Net PPE) was MXN42,436 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN10,614 Mil.
Selling, General, & Admin. Expense(SGA) was MXN74,424 Mil.
Total Current Liabilities was MXN152,446 Mil.
Long-Term Debt & Capital Lease Obligation was MXN148,474 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)
	=	(91014.275 / 372508.961)	/	(73108.086 / 339787.697)
	=	0.244328	/	0.215158
	=	1.1356

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)
	=	(137646.486 / 339787.697)	/	(155582.188 / 372508.961)
	=	0.405096	/	0.41766
	=	0.9699

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 - (206492.286 + 53182.035) / 690094.257)	/	(1 - (159727.674 + 42435.62) / 550882.244)
	=	0.623712	/	0.633019
	=	0.9853

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
	=	372508.961	/	339787.697
	=	1.0963

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))
	=	(10613.756 / (10613.756 + 42435.62))	/	(10921.452 / (10921.452 + 53182.035))
	=	0.200073	/	0.170372
	=	1.1743

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)
	=	(80701.174 / 372508.961)	/	(74424.366 / 339787.697)
	=	0.216642	/	0.219032
	=	0.9891

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)
	=	((161819.376 + 199234.502) / 690094.257)	/	((148473.747 + 152445.721) / 550882.244)
	=	0.523195	/	0.54625
	=	0.9578

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
	=	(38359.094 - 8749.715	-	38346.434)	/	690094.257
	=	-0.012661

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.

GE HealthCare Technologies has a M-score of -2.31 suggests that the company is unlikely to be a manipulator.

GE HealthCare Technologies Beneish M-Score Related Terms

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GE HealthCare Technologies Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Healthcare Providers & Services » GE HealthCare Technologies Inc (MEX:GEHC) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

GEHC:USA L0T:Germany GEHC34:Brazil

Address

500 West Monroe Street, Chicago, IL, USA, 60661

Website

https://www.gehealthcare.com

GE HealthCare Technologies is a leading medical technology firm with leading market share in imaging and ultrasound equipment. The company reports four major segments: imaging (45% of revenue), advanced visualization solutions (26%), patient care solutions (16%), and pharmaceutical diagnostics (13%). The company's sales are geographically diverse, with the United States, EMEA, China, and the rest of the world accounting for 46%, 26%, 12%, and 17% respectively. We estimate approximately half of its revenue is recurring, which consists of servicing (about one third of revenue), pharmaceutical diagnostics (about 10%-15%), and digital solutions (just over 5%).