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Keros Therapeutics Beneish M-Score

: 0.00 (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.

During the past 3 years, the highest Beneish M-Score of Keros Therapeutics was 0.00. The lowest was 0.00. And the median was 0.00.


Keros Therapeutics Beneish M-Score Historical Data

* 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.

Keros Therapeutics Annual Data
Dec18 Dec19 Dec20
Beneish M-Score 0.00 0.00 0.00

Keros Therapeutics Quarterly Data
Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20
Beneish M-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Competitive Comparison
* 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.


Keros Therapeutics Beneish M-Score Distribution

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



Keros 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 Keros Therapeutics 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Dec20) TTM:Last Year (Dec19) TTM:
Accounts Receivable 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 $267.73 Mil.
Total Assets was $269.44 Mil.
Property, Plant and Equipment(Net PPE) was $1.60 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.28 Mil.
Selling, General, & Admin. Expense(SGA) was $12.80 Mil.
Total Current Liabilities was $7.18 Mil.
Long-Term Debt & Capital Lease Obligation was $0.48 Mil.
Net Income was -10.676 + -12.036 + -10.757 + -11.892 = $-45.36 Mil.
Non Operating Income was 2.616 + -0.086 + 0.158 + -1.558 = $1.13 Mil.
Cash Flow from Operations was -7.991 + -10.856 + -9.927 + -8.12 = $-36.89 Mil.
Accounts Receivable was $0.00 Mil.
Revenue was 2.5 + 2.5 + 2.5 + 2.5 = $10.00 Mil.
Gross Profit was 2.5 + 2.5 + 2.5 + 2.5 = $10.00 Mil.
Total Current Assets was $8.93 Mil.
Total Assets was $10.96 Mil.
Property, Plant and Equipment(Net PPE) was $1.91 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.21 Mil.
Selling, General, & Admin. Expense(SGA) was $3.18 Mil.
Total Current Liabilities was $4.49 Mil.
Long-Term Debt & Capital Lease Obligation was $0.90 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Accounts Receivable 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 / 10)
= / 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)
=(10 / 10) / (0 / 0)
=1 /
=

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 - (267.726 + 1.602) / 269.443) / (1 - (8.927 + 1.913) / 10.955)
=0.00042681 / 0.01049749
=

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 / 10
=

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))
=(0.208 / (0.208 + 1.913)) / (0.278 / (0.278 + 1.602))
=0.09806695 / 0.14787234
=

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)
=(12.797 / 0) / (3.184 / 10)
= / 0.3184
=

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)
=((0.476 + 7.184) / 269.443) / ((0.899 + 4.486) / 10.955)
=0.02842902 / 0.49155637
=

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
=(-45.361 - 1.13 - -36.894) / 269.443
=-0.0356

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.


Keros Therapeutics Beneish M-Score Headlines

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