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Syneos Health Beneish M-Score

: -2.38 (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.

Good Sign:

Beneish M-Score -2.38 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

SYNH' s Beneish M-Score Range Over the Past 10 Years
Min: -2.8   Med: -2.45   Max: -0.62
Current: -2.38

During the past 11 years, the highest Beneish M-Score of Syneos Health was -0.62. The lowest was -2.80. And the median was -2.45.


Syneos Health Beneish M-Score Historical Data

The historical data trend for Syneos Health'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.

Syneos Health Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Beneish M-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -1.14 -2.24 -2.50 -2.58 -2.47

Syneos Health Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
Beneish M-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.49 -2.37 -2.47 -2.35 -2.38

Competitive Comparison

For the Diagnostics & Research subindustry, Syneos Health'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.

   

Syneos Health Beneish M-Score Distribution

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

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



Syneos Health 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 Syneos Health 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 * 1.024+0.528 * 1.0041+0.404 * 0.9843+0.892 * 1.1455+0.115 * 0.9727
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9521+4.679 * -0.0118-0.327 * 0.9859
=-2.38

* 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 (Jun22) TTM:Last Year (Jun21) TTM:
Total Receivables was $1,607 Mil.
Revenue was 1360.739 + 1336.253 + 1373.384 + 1348.23 = $5,419 Mil.
Gross Profit was 325.842 + 291.821 + 348.618 + 316.343 = $1,283 Mil.
Total Current Assets was $1,882 Mil.
Total Assets was $8,217 Mil.
Property, Plant and Equipment(Net PPE) was $440 Mil.
Depreciation, Depletion and Amortization(DDA) was $243 Mil.
Selling, General, & Admin. Expense(SGA) was $568 Mil.
Total Current Liabilities was $1,707 Mil.
Long-Term Debt & Capital Lease Obligation was $3,043 Mil.
Net Income was 77.744 + 46.176 + 75.959 + 78.243 = $278 Mil.
Non Operating Income was -3.831 + -20.199 + -2.446 + -3.382 = $-30 Mil.
Cash Flow from Operations was 99.902 + 70.887 + 185.979 + 48.504 = $405 Mil.
Total Receivables was $1,370 Mil.
Revenue was 1282.611 + 1208.745 + 1140.019 + 1099.004 = $4,730 Mil.
Gross Profit was 290.03 + 263.495 + 292.011 + 278.776 = $1,124 Mil.
Total Current Assets was $1,748 Mil.
Total Assets was $8,020 Mil.
Property, Plant and Equipment(Net PPE) was $426 Mil.
Depreciation, Depletion and Amortization(DDA) was $226 Mil.
Selling, General, & Admin. Expense(SGA) was $521 Mil.
Total Current Liabilities was $1,596 Mil.
Long-Term Debt & Capital Lease Obligation was $3,107 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)
=(1606.951 / 5418.606) / (1369.921 / 4730.379)
=0.2965617 / 0.28960069
=1.024

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)
=(1124.312 / 4730.379) / (1282.624 / 5418.606)
=0.23767905 / 0.23670737
=1.0041

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 - (1881.871 + 439.922) / 8216.672) / (1 - (1748.296 + 426.022) / 8019.674)
=0.71742903 / 0.72887701
=0.9843

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
=5418.606 / 4730.379
=1.1455

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))
=(225.873 / (225.873 + 426.022)) / (243.399 / (243.399 + 439.922))
=0.34648678 / 0.35620009
=0.9727

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)
=(567.988 / 5418.606) / (520.818 / 4730.379)
=0.10482179 / 0.11010069
=0.9521

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)
=((3043.214 + 1707.459) / 8216.672) / ((3106.842 + 1596.348) / 8019.674)
=0.57817484 / 0.58645651
=0.9859

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
=(278.122 - -29.858 - 405.272) / 8216.672
=-0.0118

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.

Syneos Health has a M-score of -2.38 suggests that the company is unlikely to be a manipulator.


Syneos Health Beneish M-Score Related Terms

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Syneos Health Business Description

Syneos Health logo
Traded in Other Exchanges
Address
1030 Sync Street, Morrisville, NC, USA, 27560-5468
Syneos is a global contract research and outsourced commercialization organization that provides services to pharmaceutical and biotechnology firms. Its clinical solutions segment offers early- to late-stage clinical trial support that ranges from specialized staffing models to strategic partnerships that oversee nearly all aspects of a drug program, while the company's commercialization solutions includes outsourced sales, consulting, public relations, and advertising services.
Executives
Zulueta Alfonso G director LILLY CORPORATE CENTER INDIANAPOLIS IN 46285
Bodem Barbara W. director C/O DENTSPLY SIRONA INC 13320 BALLANTYNE CORPORATE PLACE CHARLOTTE NC 28277
Brooks Michael Lee officer: See remarks C/O SYNEOS HEALTH, INC. 1030 SYNC STREET MORRISVILLE NC 27560
Wilkes David S. director ONE BAXTER PARKWAY DEERFIELD IL 60015
Connaughton Bernadette director C/O VISTERRA, INC. ONE KENDALL SQUARE, #B3301 CAMBRIDGE MA 02139
Klitgaard William E director 210 CARNEGIE CENTER PRINCETON NJ 08540
Meyers Kenneth F director 275 NORTH FIELD DRIVE LAKE FOREST IL 60045
Monaghan Matthew E. director ONE INVACARE WAY ELYRIA OH 44035
Harty Linda S director MEDTRONIC PLC 710 MEDTRONIC PARKWAY NE, LC-150 MINNEAPOLIS MN 55432
Kralowetz Donna Hildebrand officer: SVP, Chief Accounting Officer C/O SYNEOS HEALTH, INC. 1030 SYNC STREET MORRISVILLE NC 27560
Colvin Paul officer: Pres., Clinical Solutions C/O SYNEOS HEALTH, INC. 1030 SYNC STREET MORRISVILLE NC 27560
Parks Robert officer: EVP, Chief Accounting Officer C/O SYNEOS HEALTH, INC. 1030 SYNC STREET MORRISVILLE NC 27560
Olefson Jonathan officer: General Counsel & Corp Secty C/O SYNEOS HEALTH, INC. 1030 SYNC STREET MORRISVILLE NC 27560
Meggs Jason M. officer: Chief Financial Officer C/O SYNEOS HEALTH, INC. 1030 SYNC STREET MORRISVILLE NC 27560
Gpe Vii Gp S.a.r.l. 10 percent owner CO ADVENT INTERNATIONAL 800 BOYLSTON STREET BOSTON MA 02199

Syneos Health Headlines

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