ZimVie Beneish M-Score Historical Data
The historical data trend for ZimVie'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.
ZimVie Beneish M-Score Chart
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ZimVie 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 |
-4.11 |
-4.21 |
-2.55 |
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ZimVie Quarterly Data
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Dec19 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
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Sep22 |
Dec22 |
Mar23 |
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Mar24 |
Jun24 |
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Mar25 |
Jun25 |
| Beneish M-Score |
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-4.58 |
-3.19 |
-2.55 |
-2.39 |
-2.38 |
MEX:ZIMV vs CTKB, LAB, AVNS: Beneish M-Score Comparison
For the Medical Devices subindustry, ZimVie'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.
ZimVie Beneish M-Score vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, ZimVie's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where ZimVie's Beneish M-Score falls into.
ZimVie 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 ZimVie 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 * 1.0937 | + | 0.528 * 0.9662 | + | 0.404 * 1.0051 | + | 0.892 * 1.1262 | + | 0.115 * 1.3515 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.99 | + | 4.679 * -0.035279 | - | 0.327 * 0.9186 |
| = | -2.39 |
* 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 (Jun25) TTM: | Last Year (Jun24) TTM: |
Total Receivables was MXN1,591 Mil.
Revenue was 2196.652 + 2291.257 + 2325.849 + 2032.472 = MXN8,846 Mil.
Gross Profit was 1417.989 + 1514.889 + 1518.587 + 1327.166 = MXN5,779 Mil.
Total Current Assets was MXN4,900 Mil.
Total Assets was MXN14,277 Mil.
Property, Plant and Equipment(Net PPE) was MXN919 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN692 Mil.
Selling, General, & Admin. Expense(SGA) was MXN4,678 Mil.
Total Current Liabilities was MXN2,064 Mil.
Long-Term Debt & Capital Lease Obligation was MXN4,347 Mil.
Net Income was -74.319 + -30.094 + -245.388 + -44.973 = MXN-395 Mil.
Non Operating Income was -34.514 + -24.448 + -108.825 + 29.516 = MXN-138 Mil.
Cash Flow from Operations was 60.799 + -284.594 + 447.355 + 23.609 = MXN247 Mil.
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Total Receivables was MXN1,292 Mil.
Revenue was 2139.99 + 1961.594 + 1919.21 + 1834.401 = MXN7,855 Mil.
Gross Profit was 1342.754 + 1227.077 + 1196.566 + 1191.522 = MXN4,958 Mil.
Total Current Assets was MXN5,017 Mil.
Total Assets was MXN14,469 Mil.
Property, Plant and Equipment(Net PPE) was MXN923 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN1,278 Mil.
Selling, General, & Admin. Expense(SGA) was MXN4,196 Mil.
Total Current Liabilities was MXN2,585 Mil.
Long-Term Debt & Capital Lease Obligation was MXN4,487 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) |
| = | (1591.425 / 8846.23) | / | (1292.044 / 7855.195) |
| = | 0.179899 | / | 0.164483 |
| | = | 1.0937 |
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) |
| = | (4957.919 / 7855.195) | / | (5778.631 / 8846.23) |
| = | 0.631164 | / | 0.653231 |
| | = | 0.9662 |
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 - (4899.527 + 918.846) / 14276.751) | / | (1 - (5017.015 + 923.223) / 14468.961) |
| = | 0.592458 | / | 0.58945 |
| | = | 1.0051 |
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 |
| = | 8846.23 | / | 7855.195 |
| | = | 1.1262 |
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)) |
| = | (1278.146 / (1278.146 + 923.223)) | / | (692.04 / (692.04 + 918.846)) |
| = | 0.580614 | / | 0.429602 |
| | = | 1.3515 |
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) |
| = | (4678.342 / 8846.23) | / | (4196.238 / 7855.195) |
| = | 0.528851 | / | 0.534199 |
| | = | 0.99 |
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) |
| = | ((4346.834 + 2063.925) / 14276.751) | / | ((4487.418 + 2585.406) / 14468.961) |
| = | 0.449035 | / | 0.488827 |
| | = | 0.9186 |
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 |
| = | (-394.774 - -138.271 | - | 247.169) | / | 14276.751 |
| | = | -0.035279 |
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.
ZimVie has a M-score of -2.39 suggests that the company is unlikely to be a manipulator.
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