Sensus Healthcare (Sensus Healthcare) Beneish M-Score : -2.30 (As of Apr. 26, 2024)

View and export this data going back to 2016. Start your Free Trial

What is Sensus Healthcare 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.

Good Sign:

Beneish M-Score -2.3 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

SRTSU' s Beneish M-Score Range Over the Past 10 Years
Min: -4.6 Med: -2.01 Max: 1.11
Current: -2.3

During the past 11 years, the highest Beneish M-Score of Sensus Healthcare was 1.11. The lowest was -4.60. And the median was -2.01.

Sensus Healthcare Beneish M-Score Historical Data

The historical data trend for Sensus Healthcare'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.

Sensus Healthcare Beneish M-Score Chart

Sensus Healthcare Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

Get a 7-Day Free Trial

-2.32

-4.60

-0.27

1.11

-2.30

Sensus Healthcare 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															1.11	-0.82	-1.24	-0.55	-2.30

Competitive Comparison of Sensus Healthcare's Beneish M-Score

For the Medical Devices subindustry, Sensus Healthcare'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.

Sensus Healthcare's Beneish M-Score Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Sensus Healthcare's Beneish M-Score distribution charts can be found below:

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

Sensus Healthcare 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 Sensus Healthcare 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 * 1.1228

0.528 * 1.1548

0.404 * 1.3791

0.892 * 0.5481

0.115 * 1.0732

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.7326

4.679 * 0.048185

0.327 * 0.5956

-2.30

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $10.65 Mil.
Revenue was 12.567 + 3.898 + 4.527 + 3.414 = $24.41 Mil.
Gross Profit was 7.831 + 1.989 + 2.619 + 1.622 = $14.06 Mil.
Total Current Assets was $49.53 Mil.
Total Assets was $53.71 Mil.
Property, Plant and Equipment(Net PPE) was $1.24 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.46 Mil.
Selling, General, & Admin. Expense(SGA) was $10.77 Mil.
Total Current Liabilities was $4.21 Mil.
Long-Term Debt & Capital Lease Obligation was $0.60 Mil.
Net Income was 4.21 + -1.451 + -0.38 + -1.894 = $0.49 Mil.
Non Operating Income was 0 + 0.042 + 0 + 0 = $0.04 Mil.
Cash Flow from Operations was 2.668 + 0.442 + 0.742 + -5.997 = $-2.15 Mil.

Total Receivables was $17.30 Mil.
Revenue was 13.104 + 9.01 + 12.08 + 10.338 = $44.53 Mil.
Gross Profit was 8.35 + 5.874 + 8.256 + 7.149 = $29.63 Mil.
Total Current Assets was $53.24 Mil.
Total Assets was $56.74 Mil.
Property, Plant and Equipment(Net PPE) was $1.24 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.51 Mil.
Selling, General, & Admin. Expense(SGA) was $11.34 Mil.
Total Current Liabilities was $7.70 Mil.
Long-Term Debt & Capital Lease Obligation was $0.83 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)
	=	(10.645 / 24.406)	/	(17.299 / 44.532)
	=	0.436163	/	0.388462
	=	1.1228

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)
	=	(29.629 / 44.532)	/	(14.061 / 24.406)
	=	0.665342	/	0.576129
	=	1.1548

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 - (49.528 + 1.238) / 53.71)	/	(1 - (53.241 + 1.239) / 56.735)
	=	0.054813	/	0.039746
	=	1.3791

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
	=	24.406	/	44.532
	=	0.5481

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))
	=	(0.509 / (0.509 + 1.239))	/	(0.461 / (0.461 + 1.238))
	=	0.29119	/	0.271336
	=	1.0732

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)
	=	(10.765 / 24.406)	/	(11.337 / 44.532)
	=	0.44108	/	0.254581
	=	1.7326

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)
	=	((0.596 + 4.212) / 53.71)	/	((0.83 + 7.697) / 56.735)
	=	0.089518	/	0.150295
	=	0.5956

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
	=	(0.485 - 0.042	-	-2.145)	/	53.71
	=	0.048185

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.

Sensus Healthcare has a M-score of -2.30 suggests that the company is unlikely to be a manipulator.

Sensus Healthcare Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Sensus Healthcare's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Sensus Healthcare (Sensus Healthcare) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Sensus Healthcare Inc (NAS:SRTSU) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

SRTS:USA 5TX:Germany

Address

851 Broken Sound Parkway, NW, Suite 215, Boca Raton, FL, USA, 33487

Website

https://www.sensushealthcare.com

Sensus Healthcare Inc is engaged in manufacturing a superficial radiotherapy system. These devices are used for treating skin cancers including basal cell and squamous cell skin cancers and other skin conditions such as keloids. Its product includes SRT-100, SRT-100 vision, and a sentinel service program. The company's revenue is generated majorly from customers in the United States.