Immunovant (Immunovant) Beneish M-Score : 0.00 (As of Apr. 26, 2024)

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What is Immunovant 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 Immunovant's Beneish M-Score or its related term are showing as below:

During the past 5 years, the highest Beneish M-Score of Immunovant was 0.00. The lowest was 0.00. And the median was 0.00.

Immunovant Beneish M-Score Historical Data

The historical data trend for Immunovant'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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Immunovant Beneish M-Score Chart

Immunovant Annual Data

Trend

Dec18

Mar20

Mar21

Mar22

Mar23

Beneish M-Score

Immunovant Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of Immunovant's Beneish M-Score

For the Biotechnology subindustry, Immunovant'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.

Immunovant's Beneish M-Score Distribution in the Biotechnology Industry

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

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

Immunovant 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 Immunovant 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 (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $1.03 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $710.78 Mil.
Total Assets was $711.45 Mil.
Property, Plant and Equipment(Net PPE) was $0.67 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.22 Mil.
Selling, General, & Admin. Expense(SGA) was $54.88 Mil.
Total Current Liabilities was $32.10 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -51.418 + -58.662 + -73.937 + -59.432 = $-243.45 Mil.
Non Operating Income was 1.094 + 0.02 + -12.036 + 0.356 = $-10.57 Mil.
Cash Flow from Operations was -47.098 + -60.06 + -47.37 + -55.793 = $-210.32 Mil.

Total Receivables was $0.70 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $454.42 Mil.
Total Assets was $456.24 Mil.
Property, Plant and Equipment(Net PPE) was $1.82 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.18 Mil.
Selling, General, & Admin. Expense(SGA) was $50.84 Mil.
Total Current Liabilities was $41.26 Mil.
Long-Term Debt & Capital Lease Obligation was $0.31 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)
	=	(1.029 / 0)	/	(0.704 / 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 - (710.776 + 0.67) / 711.446)	/	(1 - (454.422 + 1.821) / 456.243)
	=	0	/	-0
	=

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))
	=	(0.178 / (0.178 + 1.821))	/	(0.221 / (0.221 + 0.67))
	=	0.089045	/	0.248036
	=

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)
	=	(54.88 / 0)	/	(50.837 / 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)
	=	((0 + 32.102) / 711.446)	/	((0.306 + 41.259) / 456.243)
	=	0.045122	/	0.091103
	=

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
	=	(-243.449 - -10.566	-	-210.321)	/	711.446
	=	-0.031713

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.

Immunovant Beneish M-Score Related Terms

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Immunovant (Immunovant) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Immunovant Inc (NAS:IMVT) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

320 West 37th Street, 6th Floor, New York, NY, USA, 10018

Website

https://www.immunovant.com

Immunovant Inc is a clinical-stage biopharmaceutical company. It is focused on enabling normal lives for patients with autoimmune diseases. The company's product includes batoclimab and IMVT-1402 targets the neonatal Fc receptor (FcRn).

Executives

William L. Macias	officer: Chief Medical Officer	C/O IMMUNOVANT, INC., 320 WEST 37TH STREET, 6TH FLOOR, NEW YORK NY 10018
Eva Renee Barnett	officer: Chief Financial Officer	C/O IMMUNOVANT, INC., 320 WEST 37TH STREET, 6TH FLOOR, NEW YORK NY 10018
Julia G. Butchko	officer: Chief Dev. & Tech. Officer	320 W 37TH STREET, 3RD FLOOR, NEW YORK NY 10016
Peter Salzmann	director, officer: Chief Executive Officer	320 W 37TH STREET, 3RD FLOOR, NEW YORK NY 10016
Atul Pande	director	C/O AXOVANT SCIENCES, INC., 1441 BROADWAY, 3RD FLOOR, NEW YORK NY 10018
Andrew J. Fromkin	director	C/O RADIUS HEALTH, INC., 201 BROADWAY, 6TH FL, CAMBRIDGE MA 02139
George V Migausky	director	C/O DYAX CORP., 300 TECHNOLOGY SQUARE, CAMBRIDGE MA 02139
Mark S. Levine	officer: Chief Legal Officer	1601 TRAPELO ROAD, SUITE 284, WALTHAM MA 02451
Roivant Sciences Ltd.	10 percent owner	CLARENDON HOUSE, 2 CHURCH STREET, HAMILTON D0 HM11
Jay S Stout	officer: Chief Technology Officer	C/O VERSARTIS, INC., 4200 BOHANNON DR., SUITE 250, MENLO PARK CA 94025
Frank Torti	director	2855 SAND HILL ROAD, MENLO PARK CA 94025
Douglas J. Hughes	director	C/O EARGO, INC., 2665 NORTH FIRST STREET, SUITE 300, SAN JOSE CA 95134
Rita Jain	officer: Chief Medical Officer	C/O AKEBIA THERAPEUTICS, INC., 245 FIRST STREET, SUITE 1100, CAMBRIDGE MA 02142
Michael James Elliott	officer: Chief Scientific Officer	320 WEST 37TH STREET, NEW YORK NY 10018
Eric Venker	director	C/O ROIVANT SCIENCES, INC., 320 WEST 37TH STREET, 6TH FLOOR, NEW YORK NY 10018