Turning Point Therapeutics Beneish M-Score Historical Data
The historical data trend for Turning Point Therapeutics'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.
Turning Point Therapeutics Beneish M-Score Chart
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Turning Point Therapeutics Annual Data
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Trend |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
| Beneish M-Score |
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- |
- |
- |
- |
9.27 |
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Turning Point Therapeutics Quarterly Data
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Dec17 |
Mar18 |
Jun18 |
Sep18 |
Dec18 |
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
| Beneish M-Score |
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- |
-0.96 |
9.27 |
2.94 |
-18.55 |
Competitive Comparison of Turning Point Therapeutics's Beneish M-Score
For the Biotechnology subindustry, Turning Point Therapeutics'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.
Turning Point Therapeutics's Beneish M-Score Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Turning Point Therapeutics's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Turning Point Therapeutics's Beneish M-Score falls into.
Turning Point 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 Turning Point 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 * 1 | + | 0.528 * 1 | + | 0.404 * 1.3199 | + | 0.892 * 0.0182 | + | 0.115 * 0.643 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 85.4603 | + | 4.679 * -0.100966 | - | 0.327 * 1.8581 |
| = | -18.55 |
* 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 $0.00 Mil.
Revenue was 0.119 + 0.429 + 0 + 0.46 = $1.01 Mil.
Gross Profit was 0.119 + 0.429 + 0 + 0.46 = $1.01 Mil.
Total Current Assets was $831.67 Mil.
Total Assets was $843.34 Mil.
Property, Plant and Equipment(Net PPE) was $9.63 Mil.
Depreciation, Depletion and Amortization(DDA) was $5.05 Mil.
Selling, General, & Admin. Expense(SGA) was $96.70 Mil.
Total Current Liabilities was $49.42 Mil.
Long-Term Debt & Capital Lease Obligation was $0.89 Mil.
Net Income was -123.088 + -74.445 + -78.449 + -66.325 = $-342.31 Mil.
Non Operating Income was 1.276 + 0.49 + 0.192 + 0.328 = $2.29 Mil.
Cash Flow from Operations was -105.298 + -58.331 + -54.151 + -41.665 = $-259.45 Mil.
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Total Receivables was $0.00 Mil.
Revenue was 5.164 + 25.205 + 0 + 25 = $55.37 Mil.
Gross Profit was 5.164 + 25.205 + 0 + 25 = $55.37 Mil.
Total Current Assets was $1,091.42 Mil.
Total Assets was $1,102.92 Mil.
Property, Plant and Equipment(Net PPE) was $9.48 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.69 Mil.
Selling, General, & Admin. Expense(SGA) was $62.15 Mil.
Total Current Liabilities was $31.90 Mil.
Long-Term Debt & Capital Lease Obligation was $3.52 Mil.
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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 / 1.008) | / | (0 / 55.369) |
| = | 0 | / | 0 |
| | = | 1 |
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) |
| = | (55.369 / 55.369) | / | (1.008 / 1.008) |
| = | 1 | / | 1 |
| | = | 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 - (831.667 + 9.629) / 843.335) | / | (1 - (1091.42 + 9.479) / 1102.92) |
| = | 0.002418 | / | 0.001832 |
| | = | 1.3199 |
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 |
| = | 1.008 | / | 55.369 |
| | = | 0.0182 |
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)) |
| = | (2.694 / (2.694 + 9.479)) | / | (5.054 / (5.054 + 9.629)) |
| = | 0.221309 | / | 0.344208 |
| | = | 0.643 |
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) |
| = | (96.697 / 1.008) | / | (62.152 / 55.369) |
| = | 95.929563 | / | 1.122505 |
| | = | 85.4603 |
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) |
| = | ((0.89 + 49.423) / 843.335) | / | ((3.518 + 31.895) / 1102.92) |
| = | 0.05966 | / | 0.032108 |
| | = | 1.8581 |
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 |
| = | (-342.307 - 2.286 | - | -259.445) | / | 843.335 |
| | = | -0.100966 |
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.
Turning Point Therapeutics has a M-score of -18.55 suggests that the company is unlikely to be a manipulator.
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