2seventy bio Beneish M-Score Historical Data
The historical data trend for 2seventy bio'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.
2seventy bio Beneish M-Score Chart
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2seventy bio Annual Data
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Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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0.00 |
0.00 |
-2.64 |
-3.26 |
-1.78 |
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2seventy bio Quarterly Data
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Dec19 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
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Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
Mar25 |
| Beneish M-Score |
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-3.83 |
-2.97 |
-0.19 |
-1.78 |
-0.33 |
MEX:TSVT vs ALMS, TERN, CRVS: Beneish M-Score Comparison
For the Biotechnology subindustry, 2seventy bio'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.
2seventy bio Beneish M-Score vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, 2seventy bio's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where 2seventy bio's Beneish M-Score falls into.
2seventy bio 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 2seventy bio 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 * 3.1144 | + | 0.528 * 1.4771 | + | 0.404 * 1.1753 | + | 0.892 * 0.7908 | + | 0.115 * 1.4658 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1075 | + | 4.679 * 0.008984 | - | 0.327 * 0.9368 |
| = | -0.30 |
* 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 (Mar25) TTM: | Last Year (Mar24) TTM: |
Total Receivables was MXN489.5 Mil.
Revenue was 469.27 + 61.024 + 266.489 + 164.276 = MXN961.1 Mil.
Gross Profit was 363.849 + -123.403 + 152.915 + 101.017 = MXN494.4 Mil.
Total Current Assets was MXN4,062.6 Mil.
Total Assets was MXN9,820.0 Mil.
Property, Plant and Equipment(Net PPE) was MXN4,748.8 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN131.4 Mil.
Selling, General, & Admin. Expense(SGA) was MXN915.8 Mil.
Total Current Liabilities was MXN846.9 Mil.
Long-Term Debt & Capital Lease Obligation was MXN4,562.2 Mil.
Net Income was 9.861 + -407.103 + -195.584 + 455.786 = MXN-137.0 Mil.
Non Operating Income was 12.766 + 19.646 + 12.799 + 782.415 = MXN827.6 Mil.
Cash Flow from Operations was -224.488 + -197.587 + -206.847 + -423.964 = MXN-1,052.9 Mil.
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Total Receivables was MXN198.8 Mil.
Revenue was 206.374 + 181.353 + 209.619 + 618.003 = MXN1,215.3 Mil.
Gross Profit was 131.708 + 127.935 + 123.239 + 540.564 = MXN923.4 Mil.
Total Current Assets was MXN3,532.4 Mil.
Total Assets was MXN8,481.5 Mil.
Property, Plant and Equipment(Net PPE) was MXN4,208.0 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN172.9 Mil.
Selling, General, & Admin. Expense(SGA) was MXN1,045.7 Mil.
Total Current Liabilities was MXN1,002.5 Mil.
Long-Term Debt & Capital Lease Obligation was MXN3,984.3 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) |
| = | (489.524 / 961.059) | / | (198.773 / 1215.349) |
| = | 0.509359 | / | 0.163552 |
| | = | 3.1144 |
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) |
| = | (923.446 / 1215.349) | / | (494.378 / 961.059) |
| = | 0.75982 | / | 0.51441 |
| | = | 1.4771 |
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 - (4062.63 + 4748.839) / 9820.038) | / | (1 - (3532.38 + 4207.997) / 8481.533) |
| = | 0.102705 | / | 0.087385 |
| | = | 1.1753 |
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 |
| = | 961.059 | / | 1215.349 |
| | = | 0.7908 |
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)) |
| = | (172.879 / (172.879 + 4207.997)) | / | (131.378 / (131.378 + 4748.839)) |
| = | 0.039462 | / | 0.026921 |
| | = | 1.4658 |
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) |
| = | (915.829 / 961.059) | / | (1045.724 / 1215.349) |
| = | 0.952937 | / | 0.860431 |
| | = | 1.1075 |
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) |
| = | ((4562.22 + 846.908) / 9820.038) | / | ((3984.28 + 1002.513) / 8481.533) |
| = | 0.550826 | / | 0.587959 |
| | = | 0.9368 |
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 |
| = | (-137.04 - 827.626 | - | -1052.886) | / | 9820.038 |
| | = | 0.008984 |
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.
2seventy bio has a M-score of -0.30 signals that the company is likely to be a manipulator.
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