ENDRA Life Sciences (ENDRA Life Sciences) Beneish M-Score : 0.00 (As of May. 11, 2024)

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

During the past 10 years, the highest Beneish M-Score of ENDRA Life Sciences was 0.00. The lowest was 0.00. And the median was 0.00.

ENDRA Life Sciences Beneish M-Score Historical Data

The historical data trend for ENDRA Life Sciences'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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ENDRA Life Sciences Beneish M-Score Chart

ENDRA Life Sciences Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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ENDRA Life Sciences 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 ENDRA Life Sciences's Beneish M-Score

For the Diagnostics & Research subindustry, ENDRA Life Sciences'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.

ENDRA Life Sciences's Beneish M-Score Distribution in the Medical Diagnostics & Research Industry

For the Medical Diagnostics & Research industry and Healthcare sector, ENDRA Life Sciences's Beneish M-Score distribution charts can be found below:

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

ENDRA Life Sciences 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 ENDRA Life Sciences 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 $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 $3.03 Mil.
Total Assets was $6.75 Mil.
Property, Plant and Equipment(Net PPE) was $0.47 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.28 Mil.
Selling, General, & Admin. Expense(SGA) was $5.52 Mil.
Total Current Liabilities was $0.90 Mil.
Long-Term Debt & Capital Lease Obligation was $0.19 Mil.
Net Income was -1.46 + -3.101 + -2.557 + -2.943 = $-10.06 Mil.
Non Operating Income was -0.002 + 0.028 + 0.437 + -0.003 = $0.46 Mil.
Cash Flow from Operations was -2.175 + -2.599 + -2.269 + -2.507 = $-9.55 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 $5.38 Mil.
Total Assets was $9.27 Mil.
Property, Plant and Equipment(Net PPE) was $0.74 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.24 Mil.
Selling, General, & Admin. Expense(SGA) was $6.60 Mil.
Total Current Liabilities was $1.70 Mil.
Long-Term Debt & Capital Lease Obligation was $0.37 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 - (3.033 + 0.466) / 6.754)	/	(1 - (5.379 + 0.741) / 9.274)
	=	0.481937	/	0.340091
	=

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))
	=	(0.235 / (0.235 + 0.741))	/	(0.275 / (0.275 + 0.466))
	=	0.240779	/	0.37112
	=

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)
	=	(5.516 / 0)	/	(6.603 / 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)
	=	((0.192 + 0.903) / 6.754)	/	((0.366 + 1.704) / 9.274)
	=	0.162126	/	0.223205
	=

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
	=	(-10.061 - 0.46	-	-9.55)	/	6.754
	=	-0.143767

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.

ENDRA Life Sciences Beneish M-Score Related Terms

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ENDRA Life Sciences (ENDRA Life Sciences) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Diagnostics & Research » ENDRA Life Sciences Inc (NAS:NDRAU) » Definitions » Beneish M-Score

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NDRA:USA

Address

3600 Green Court, Suite 350, Ann Arbor, MI, USA, 48105-1570

Website

https://www.endrainc.com

ENDRA Life Sciences Inc is engaged in the development of Thermo Acoustic Enhanced UltraSound (TAEUS) to visualize tissue like MRI but at 1/50th the cost and at the point of patient care. TAEUS is designed to work in concert with around 400,000 cart-based ultrasound systems in use globally today. TAEUS is initially focused on the measurement of fat in the liver as a means to assess and monitor Non-Alcoholic Fatty Liver Disease (NAFLD) and Non-Alcoholic Steatohepatitis (NASH), chronic liver conditions that affect over one billion people globally, and for which there are no practical diagnostic tools. Beyond the liver, the firm is exploring several other clinical applications of TAEUS, including visualization of tissue temperature during energy-based surgical procedures.

Executives

Renaud Bertrand Maloberti	officer: Chief Commercial Officer	10 ACORN WAY, GEORGETOWN MA 01833
Anthony Digiandomenico	director	3600 GREEN COURT, SUITE 350, ANN ARBOR MI 48105
Michael Milos Thornton	officer: Chief Technology Officer	3600 GREEN COURT, SUITE 350, ANN ARBOR MI 48105
David R. Wells	officer: Chief Financial Officer	2801 OCEAN PARK BLVD., SUITE 339, SANTA MONICA CA 90405
Francois Roger Michelon	director, officer: Chief Executive Officer	430 N. JUNO LANE, JUNO BEACH FL 33406
Michael Harsh	director	3600 GREEN COURT, SUITE 350, ANN ARBOR MI 48105
Lou Basenese	director	3600 GREEN COURT, SUITE 350, ANN ARBOR MI 48105
Alexander Y Tokman	director	C/O MICROVISION, INC., 6222 185TH AVENUE NE, REDMOND WA 98052
Sanjiv Sam Gambhir	director	3600 GREEN COURT, SUITE 350, ANN ARBOR MI 48105
Longboard Capital Advisors, Llc	10 percent owner	9665 WILSHIRE BLVD., SUITE 430, BEVERLY HILLS CA 90212
Brett Conrad	10 percent owner	1312 CEDAR ST., SANTA MONICA CA 90405