Regeneron Pharmaceuticals (MEX:REGN) Beneish M-Score : -2.25 (As of Apr. 03, 2025)

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What is Regeneron Pharmaceuticals 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 -2.25 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

MEX:REGN' s Beneish M-Score Range Over the Past 10 Years
Min: -2.77 Med: -2.34 Max: -1.52
Current: -2.25

During the past 13 years, the highest Beneish M-Score of Regeneron Pharmaceuticals was -1.52. The lowest was -2.77. And the median was -2.34.

Regeneron Pharmaceuticals Beneish M-Score Historical Data

The historical data trend for Regeneron Pharmaceuticals'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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Regeneron Pharmaceuticals Beneish M-Score Chart

Regeneron Pharmaceuticals Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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-2.15

-1.52

-2.66

-2.51

-2.25

Regeneron Pharmaceuticals Quarterly Data
	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24
Beneish M-Score	Get a 7-Day Free Trial															-2.51	-2.51	-2.29	-2.26	-2.25

Competitive Comparison of Regeneron Pharmaceuticals's Beneish M-Score

For the Biotechnology subindustry, Regeneron Pharmaceuticals'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.

Regeneron Pharmaceuticals's Beneish M-Score Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Regeneron Pharmaceuticals's Beneish M-Score distribution charts can be found below:

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

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Regeneron Pharmaceuticals 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 Regeneron Pharmaceuticals 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 * 1.1395

0.528 * 1.0007

0.404 * 1.3435

0.892 * 1.1818

0.115 * 1.0826

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0357

4.679 * -0.00011

0.327 * 0.9508

-2.03

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was MXN129,554 Mil.
Revenue was 79026.418 + 73261.699 + 64983.237 + 52195.222 = MXN269,467 Mil.
Gross Profit was 67234.606 + 63591.793 + 56185.924 + 44995.767 = MXN232,008 Mil.
Total Current Assets was MXN389,186 Mil.
Total Assets was MXN787,499 Mil.
Property, Plant and Equipment(Net PPE) was MXN95,930 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN9,137 Mil.
Selling, General, & Admin. Expense(SGA) was MXN55,925 Mil.
Total Current Liabilities was MXN82,261 Mil.
Long-Term Debt & Capital Lease Obligation was MXN56,402 Mil.
Net Income was 19139.276 + 26396.816 + 26239.884 + 11982.496 = MXN83,758 Mil.
Non Operating Income was -4556.97 + 1648.078 + 6778.438 + -3372.359 = MXN497 Mil.
Cash Flow from Operations was 26336.578 + 25424.115 + 6485.316 + 25101.836 = MXN83,348 Mil.

Total Receivables was MXN96,198 Mil.
Revenue was 58294.66 + 58574.525 + 54142.151 + 56996.852 = MXN228,008 Mil.
Gross Profit was 49518.974 + 50972.918 + 47200.586 + 48750.415 = MXN196,443 Mil.
Total Current Assets was MXN330,645 Mil.
Total Assets was MXN561,512 Mil.
Property, Plant and Equipment(Net PPE) was MXN70,382 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN7,315 Mil.
Selling, General, & Admin. Expense(SGA) was MXN45,691 Mil.
Total Current Liabilities was MXN58,110 Mil.
Long-Term Debt & Capital Lease Obligation was MXN45,880 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)
	=	(129553.523 / 269466.576)	/	(96198.156 / 228008.188)
	=	0.480778	/	0.421907
	=	1.1395

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)
	=	(196442.893 / 228008.188)	/	(232008.09 / 269466.576)
	=	0.861561	/	0.86099
	=	1.0007

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 - (389186.132 + 95929.963) / 787498.718)	/	(1 - (330644.771 + 70382.022) / 561511.518)
	=	0.383979	/	0.285808
	=	1.3435

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
	=	269466.576	/	228008.188
	=	1.1818

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))
	=	(7315.065 / (7315.065 + 70382.022))	/	(9137.339 / (9137.339 + 95929.963))
	=	0.094149	/	0.086967
	=	1.0826

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)
	=	(55924.75 / 269466.576)	/	(45691.357 / 228008.188)
	=	0.207539	/	0.200393
	=	1.0357

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)
	=	((56402.155 + 82261.137) / 787498.718)	/	((45879.695 + 58109.641) / 561511.518)
	=	0.176081	/	0.185195
	=	0.9508

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
	=	(83758.472 - 497.187	-	83347.845)	/	787498.718
	=	-0.00011

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.

Regeneron Pharmaceuticals has a M-score of -2.03 suggests that the company is unlikely to be a manipulator.

Regeneron Pharmaceuticals Beneish M-Score Related Terms

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Regeneron Pharmaceuticals Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Regeneron Pharmaceuticals Inc (MEX:REGN) » Definitions » Beneish M-Score

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Traded in Other Exchanges

REGN:USA 0R2M:UK RGO:Germany REGN34:Brazil REGN:Austria

Address

777 Old Saw Mill River Road, Tarrytown, NY, USA, 10591-6707

Website

https://www.regeneron.com

Regeneron Pharmaceuticals Inc discovers, develops, and commercializes products that fight eye disease, cardiovascular disease, cancer, and inflammation. The company has several marketed products, including low-dose Eylea and Eylea HD, approved for wet age-related macular degeneration and other eye diseases; Dupixent in immunology; Praluent for LDL cholesterol lowering; Libtayo in oncology; and Kevzara in rheumatoid arthritis. Regeneron is also developing monoclonal and bispecific antibodies with Sanofi, other collaborators, and independently, and has earlier-stage partnerships that bring new technology to the pipeline, including RNAi (Alnylam) and Crispr-based gene editing (Intellia).