Switch to:

Schrodinger Beneish M-Score

: 0.00 (As of Today)
View and export this data going back to 2020. Start your Free Trial

The zones of discrimination for M-Score is as such:

An M-Score of less than -2.22 suggests that the company is not an accounting manipulator.
An M-Score of greater than -2.22 signals that the company is likely an accounting manipulator.

Schrodinger has a M-score of signals that the company is a manipulator.

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


Schrodinger Beneish M-Score Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

Schrodinger Annual Data
Dec17 Dec18 Dec19
Beneish M-Score 0.00 0.00 0.00

Schrodinger Quarterly Data
Dec17 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20
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.


Schrodinger Beneish M-Score Distribution

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



Schrodinger 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 Schrodinger 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 *
=

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

This Year (Jun20) TTM:Last Year (Jun19) TTM:
Accounts Receivable was $13.85 Mil.
Revenue was 23.092 + 26.174 + 25.832 + 19.96 = $95.06 Mil.
Gross Profit was 13.583 + 15.625 + 15.527 + 10.711 = $55.45 Mil.
Total Current Assets was $307.01 Mil.
Total Assets was $349.55 Mil.
Property, Plant and Equipment(Net PPE) was $17.76 Mil.
Depreciation, Depletion and Amortization(DDA) was $3.61 Mil.
Selling, General, & Admin. Expense(SGA) was $51.68 Mil.
Total Current Liabilities was $43.05 Mil.
Long-Term Debt & Capital Lease Obligation was $7.78 Mil.
Net Income was -3.35 + -13.826 + -6.769 + -11.508 = $-35.45 Mil.
Non Operating Income was 12.515 + -3.079 + 0.258 + -1.427 = $8.27 Mil.
Cash Flow from Operations was -9.051 + -5.778 + -11.265 + -5.931 = $-32.03 Mil.
Accounts Receivable was $0.00 Mil.
Revenue was 19.01 + 20.741 + 17.477 + 12.993 = $70.22 Mil.
Gross Profit was 9.851 + 13.004 + 10.312 + 7.045 = $40.21 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $0.00 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
(DDA) was $2.67 Mil.
Selling, General, & Admin. Expense(SGA) was $42.93 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 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)
=(13.849 / 95.058) / (0 / 70.221)
=0.14569 / 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)
=(40.212 / 70.221) / (55.446 / 95.058)
=0.57264921 / 0.58328599
=

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 - (307.014 + 17.755) / 349.551) / (1 - (0 + 0) / 0)
=0.07089666 /
=

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
=95.058 / 70.221
=

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))
=(2.668 / (2.668 + 0)) / (3.605 / (3.605 + 17.755))
=1 / 0.16877341
=

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)
=(51.68 / 95.058) / (42.932 / 70.221)
=0.54366808 / 0.61138406
=

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)
=((7.777 + 43.048) / 349.551) / ((0 + 0) / 0)
=0.14540081 /
=

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
=(-35.453 - 8.267 - -32.025) / 349.551
=-0.0335

An M-Score of less than -2.22 suggests that the company will not be a manipulator. An M-Score of greater than -2.22 signals that the company is likely to be a manipulator.

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


Schrodinger Beneish M-Score Headlines

No Headline

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)