Frequency Therapeutics (Frequency Therapeutics) Beneish M-Score : 0.00 (As of May. 12, 2024)

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What is Frequency Therapeutics 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.

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

During the past 6 years, the highest Beneish M-Score of Frequency Therapeutics was 4.34. The lowest was -2.66. And the median was -0.79.

Frequency Therapeutics Beneish M-Score Historical Data

The historical data trend for Frequency Therapeutics'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.

* Premium members only.

Frequency Therapeutics Beneish M-Score Chart

Frequency Therapeutics Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Beneish M-Score

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4.34

0.27

Frequency Therapeutics Quarterly Data
	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of Frequency Therapeutics's Beneish M-Score

For the Biotechnology subindustry, Frequency Therapeutics'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.

Frequency Therapeutics's Beneish M-Score Distribution in the Biotechnology Industry

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

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

Frequency Therapeutics 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 Frequency Therapeutics 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Jun23) TTM:

Last Year (Jun22) TTM:

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $48.38 Mil.
Total Assets was $79.38 Mil.
Property, Plant and Equipment(Net PPE) was $29.04 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.85 Mil.
Selling, General, & Admin. Expense(SGA) was $32.50 Mil.
Total Current Liabilities was $8.33 Mil.
Long-Term Debt & Capital Lease Obligation was $25.65 Mil.
Net Income was -10.796 + -19.543 + -17.362 + -19.547 = $-67.25 Mil.
Non Operating Income was 0.694 + 0.753 + 0.697 + 0.617 = $2.76 Mil.
Cash Flow from Operations was -8.424 + -14.132 + -15.619 + -11.797 = $-49.97 Mil.

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $113.42 Mil.
Total Assets was $149.66 Mil.
Property, Plant and Equipment(Net PPE) was $34.21 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.89 Mil.
Selling, General, & Admin. Expense(SGA) was $35.41 Mil.
Total Current Liabilities was $16.76 Mil.
Long-Term Debt & Capital Lease Obligation was $36.98 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)
	=	(0 / 0)	/	(0 / 0)
	=		/
	=

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)
	=	(0 / 0)	/	(0 / 0)
	=		/
	=

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 - (48.379 + 29.044) / 79.383)	/	(1 - (113.421 + 34.211) / 149.658)
	=	0.02469	/	0.013538
	=

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
	=	0	/	0
	=

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))
	=	(2.887 / (2.887 + 34.211))	/	(2.845 / (2.845 + 29.044))
	=	0.077821	/	0.089216
	=

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)
	=	(32.5 / 0)	/	(35.41 / 0)
	=		/
	=

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)
	=	((25.647 + 8.328) / 79.383)	/	((36.976 + 16.761) / 149.658)
	=	0.427988	/	0.359065
	=

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
	=	(-67.248 - 2.761	-	-49.972)	/	79.383
	=	-0.252409

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.

Frequency Therapeutics Beneish M-Score Related Terms

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Frequency Therapeutics (Frequency Therapeutics) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Frequency Therapeutics Inc (NAS:FREQ) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

75 Hayden Avenue, Suite 300, Lexington, MA, USA, 02421

Website

https://www.frequencytx.com

Frequency Therapeutics Inc is a clinical-stage biotechnology company focused on harnessing the body's innate biology to repair or reverse damage caused by degenerative diseases. Its Progenitor Cell Activation approach uses combinations of molecules to activate progenitor cells within the body to create functional tissue. Its product candidate FX-322 is being developed for treating sensorineural hearing loss.

Executives

Richard J. Mitrano	officer: VP Finance & Operations	C/O FREQUENCY THERAPEUTICS, INC., 19 PRESIDENTIAL WAY, 2ND FLOOR, WOBURN MA 01801
David L. Lucchino	director, officer: President and CEO	C/O FREQUENCY THERAPEUTICS, INC., 19 PRESIDENTIAL WAY, 2ND FLOOR, WOBURN MA 01801
Christopher R. Loose	officer: Chief Scientific Officer	C/O FREQUENCY THERAPEUTICS, INC., 19 PRESIDENTIAL WAY, 2ND FLOOR, WOBURN MA 01801
Quentin Mccubbin	officer: Chief Manufacturing Officer	C/O FREQUENCY THERAPEUTICS, INC., 10 PRESIDENTIAL WAY, 2ND FLOOR, WOBURN MA 01801
Wendy S Arnold	officer: Chief People Officer	19 PRESIDENTIAL WAY, SUITE 203, WOBURN MA 01801
Carl Lebel	officer: Chief Development Officer	23256 MARIPOSA DE ORO, MALIBU CA 90265
Peter P. Pfreundschuh	officer: Chief Financial Officer	C/O IMMUNOMEDICS, INC., 300 THE AMERICAN ROAD, MORRIS PLAINS NJ 07950
Michael Bookman	officer: General Counsel and Secretary	C/O FREQUENCY THERAPEUTICS, INC., 10 PRESIDENTIAL WAY, 2ND FLOOR, WOBURN MA 01801
Joel S Marcus	director, 10 percent owner	C/O ALEXANDRIA REAL ESTATE EQUITIES, INC, 26 NORTH EUCLID AVENUE, PASADENA CA 91101
Cynthia L Feldmann	director	17 WINTHROP ROAD, WAYLAND MA 01778
Marc A Cohen	director	1000 WILSON BLVD. #1800, ARLINGTON VA 22209
James E Flynn	10 percent owner, other: Possible Member of 10% Group	780 THIRD AVENUE, 37TH FLOOR, NEW YORK NY 10017
Deerfield Partners, L.p.	10 percent owner, other: Possible Member of 10% Group	345 PARK AVENUE SOUTH, 12TH FLOOR, NEW YORK NY 10010
Robert Langer	director	98 MONTVALE RD, NEWTON MA 02459
Alexandria Venture Investments, Llc	10 percent owner	26 NORTH EUCLID AVENUE, PASADENA CA 91101