Amylyx Pharmaceuticals (Amylyx Pharmaceuticals) Beneish M-Score

: 23.00 (As of Today)

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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.

Warning Sign:

Beneish M-Score 23 higher than -1.78, which implies that the company might have manipulated its financial results.

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

AMLX' s Beneish M-Score Range Over the Past 10 Years
Min: 23 Med: 23 Max: 23
Current: 23

During the past 5 years, the highest Beneish M-Score of Amylyx Pharmaceuticals was 23.00. The lowest was 23.00. And the median was 23.00.

Amylyx Pharmaceuticals Beneish M-Score Historical Data

The historical data trend for Amylyx 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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Amylyx Pharmaceuticals Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

23.00

Amylyx Pharmaceuticals Quarterly Data
	Dec19	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score											-	-	-	760.22	23.00

Competitive Comparison

For the Biotechnology subindustry, Amylyx 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.

Amylyx Pharmaceuticals Beneish M-Score Distribution

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

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

Amylyx 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 Amylyx 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 * 0.1528

0.528 * 0.9273

0.404 * 29.6085

0.892 * 17.1294

0.115 * 0.3893

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.0865

4.679 * 0.07346

0.327 * 1.2501

23.00

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $40.1 Mil.
Revenue was 108.449 + 102.693 + 98.216 + 71.428 = $380.8 Mil.
Gross Profit was 99.089 + 97.475 + 92.636 + 66.145 = $355.3 Mil.
Total Current Assets was $464.7 Mil.
Total Assets was $517.5 Mil.
Property, Plant and Equipment(Net PPE) was $6.4 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.1 Mil.
Selling, General, & Admin. Expense(SGA) was $188.4 Mil.
Total Current Liabilities was $82.0 Mil.
Long-Term Debt & Capital Lease Obligation was $2.0 Mil.
Net Income was 4.731 + 20.893 + 22.074 + 1.573 = $49.3 Mil.
Non Operating Income was 0.171 + -0.488 + -0.081 + -0.262 = $-0.7 Mil.
Cash Flow from Operations was 13.551 + -5.169 + 8.609 + -5.072 = $11.9 Mil.

Total Receivables was $15.3 Mil.
Revenue was 21.885 + 0.345 + 0 + 0 = $22.2 Mil.
Gross Profit was 19.064 + 0.173 + 0 + 0 = $19.2 Mil.
Total Current Assets was $382.1 Mil.
Total Assets was $391.5 Mil.
Property, Plant and Equipment(Net PPE) was $8.1 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.5 Mil.
Selling, General, & Admin. Expense(SGA) was $127.1 Mil.
Total Current Liabilities was $46.6 Mil.
Long-Term Debt & Capital Lease Obligation was $4.2 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)
	=	(40.05 / 380.786)	/	(15.306 / 22.23)
	=	0.105177	/	0.688529
	=	0.1528

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)
	=	(19.237 / 22.23)	/	(355.345 / 380.786)
	=	0.865362	/	0.933188
	=	0.9273

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 - (464.666 + 6.411) / 517.454)	/	(1 - (382.133 + 8.135) / 391.453)
	=	0.089625	/	0.003027
	=	29.6085

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
	=	380.786	/	22.23
	=	17.1294

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))
	=	(0.487 / (0.487 + 8.135))	/	(1.088 / (1.088 + 6.411))
	=	0.056483	/	0.145086
	=	0.3893

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)
	=	(188.356 / 380.786)	/	(127.128 / 22.23)
	=	0.494651	/	5.718758
	=	0.0865

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)
	=	((1.98 + 82.042) / 517.454)	/	((4.237 + 46.609) / 391.453)
	=	0.162376	/	0.12989
	=	1.2501

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
	=	(49.271 - -0.66	-	11.919)	/	517.454
	=	0.07346

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.

Amylyx Pharmaceuticals has a M-score of 23.00 signals that the company is likely to be a manipulator.

Amylyx Pharmaceuticals Beneish M-Score Related Terms

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Amylyx Pharmaceuticals (Amylyx Pharmaceuticals) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Amylyx Pharmaceuticals Inc (NAS:AMLX) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

43 Thorndike Street, Cambridge, MA, USA, 02141

Website

https://www.amylyx.com

Amylyx Pharmaceuticals Inc is a clinical-stage pharmaceutical company working on developing a novel therapeutic for amyotrophic lateral sclerosis and other neurodegenerative diseases.

Executives

Joshua B Cohen	director, officer: Co-Chief Executive Officer	C/O AMYLYX PHARMACEUTICALS, INC., 43 THORNDIKE STREET, CAMBRIDGE MA 02141
Justin B. Klee	director, officer: Co-Chief Executive Officer	C/O AMYLYX PHARMACEUTICALS, INC., 43 THORNDIKE STREET, CAMBRIDGE MA 02141
Patrick D Yeramian	officer: Chief Medical Officer	1815 PARKSIDE CIRCLE SOUTH, BOCA RATON FL 33486
James M Frates	officer: Chief Financial Officer	88 SIDNEY ST, CAMBRIDGE MA 021394136
Karen Firestone	director	C/O AMYLYX PHARMACEUTICALS, INC., 43 THORNDIKE ST., CAMBRIDGE MA 02141
Gina Mazzariello	officer: Chief Legal Officer	C/O AMYLYX PHARMACEUTICALS, INC., 43 THORNDIKE STREET, CAMBRIDGE MA 02141
Morningside Venture Investments Ltd	10 percent owner	MCCARTHY LEGAL SERVICES, 1188 CENTRE STREET, NEWTON CENTRE MA 02459
Milne George M Jr	director
Margaret Olinger	officer: Chief Commercial Officer	C/O AMYLYX PHARMACEUTICALS, INC., 43 THORNDIKE STREET, CAMBRIDGE MA 02141
Viking Global Investors Lp	10 percent owner	600 WASHINGTON BLVD., FLOOR 11, STAMFORD CT 06901
Dragsa 96 Llc	10 percent owner	55 RAILROAD AVE., GREENWICH CT 06830
Als Invest 1 B.v.	10 percent owner	EERSTE WELERINGDWARSSTRAAL 54E, 1017 TP, AMSTERDAM P7 1017
Isaac Cheng	director	C/O ATEA PHARMACEUTICALS, INC., 125 SUMMER STREET, BOSTON MA 02110
Mvil, Llc	10 percent owner	22ND FLOOR HANG LUNG CENTRE, 2-20 PATERSON STREET, CAUSEWAY BAY K3 00000
Ole Andreas Halvorsen	10 percent owner	600 WASHINGTON BLVD., FLOOR 11, STAMFORD CT 06901