NeoGenomics Beneish M-Score Historical Data
The historical data trend for NeoGenomics'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.
NeoGenomics Beneish M-Score Chart
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NeoGenomics Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.37 |
-2.64 |
-2.62 |
-2.66 |
-2.62 |
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NeoGenomics Quarterly Data
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Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-2.66 |
-2.54 |
-2.58 |
-2.65 |
-2.62 |
Competitive Comparison of NeoGenomics's Beneish M-Score
For the Diagnostics & Research subindustry, NeoGenomics'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.
NeoGenomics's Beneish M-Score Distribution in the Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, NeoGenomics's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where NeoGenomics's Beneish M-Score falls into.
NeoGenomics 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 NeoGenomics 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 * 1.0275 | + | 0.528 * 0.9414 | + | 0.404 * 0.9896 | + | 0.892 * 1.1165 | + | 0.115 * 0.961 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9933 | + | 4.679 * -0.048053 | - | 0.327 * 1.0264 |
| = | -2.62 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was $150.5 Mil.
Revenue was 172 + 167.824 + 164.502 + 156.24 = $660.6 Mil.
Gross Profit was 77.257 + 74.88 + 72.494 + 65.469 = $290.1 Mil.
Total Current Assets was $596.0 Mil.
Total Assets was $1,638.0 Mil.
Property, Plant and Equipment(Net PPE) was $173.7 Mil.
Depreciation, Depletion and Amortization(DDA) was $72.5 Mil.
Selling, General, & Admin. Expense(SGA) was $310.5 Mil.
Total Current Liabilities was $301.2 Mil.
Long-Term Debt & Capital Lease Obligation was $401.2 Mil.
Net Income was -15.324 + -17.699 + -18.642 + -27.061 = $-78.7 Mil.
Non Operating Income was -2.138 + -0.692 + -1.546 + -2.661 = $-7.0 Mil.
Cash Flow from Operations was 9.8 + 9.246 + 13.892 + -25.915 = $7.0 Mil.
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Total Receivables was $131.2 Mil.
Revenue was 155.552 + 151.954 + 146.917 + 137.22 = $591.6 Mil.
Gross Profit was 67.588 + 62.311 + 59.891 + 54.814 = $244.6 Mil.
Total Current Assets was $596.8 Mil.
Total Assets was $1,681.2 Mil.
Property, Plant and Equipment(Net PPE) was $183.8 Mil.
Depreciation, Depletion and Amortization(DDA) was $72.6 Mil.
Selling, General, & Admin. Expense(SGA) was $280.0 Mil.
Total Current Liabilities was $96.3 Mil.
Long-Term Debt & Capital Lease Obligation was $606.1 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) |
| = | (150.54 / 660.566) | / | (131.227 / 591.643) |
| = | 0.227895 | / | 0.221801 |
| | = | 1.0275 |
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) |
| = | (244.604 / 591.643) | / | (290.1 / 660.566) |
| = | 0.413432 | / | 0.439169 |
| | = | 0.9414 |
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 - (596.019 + 173.686) / 1638.038) | / | (1 - (596.812 + 183.781) / 1681.229) |
| = | 0.530106 | / | 0.535701 |
| | = | 0.9896 |
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 |
| = | 660.566 | / | 591.643 |
| | = | 1.1165 |
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)) |
| = | (72.583 / (72.583 + 183.781)) | / | (72.547 / (72.547 + 173.686)) |
| = | 0.283125 | / | 0.294627 |
| | = | 0.961 |
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) |
| = | (310.493 / 660.566) | / | (279.959 / 591.643) |
| = | 0.470041 | / | 0.473189 |
| | = | 0.9933 |
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) |
| = | ((401.176 + 301.241) / 1638.038) | / | ((606.069 + 96.304) / 1681.229) |
| = | 0.428816 | / | 0.417774 |
| | = | 1.0264 |
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 |
| = | (-78.726 - -7.037 | - | 7.023) | / | 1638.038 |
| | = | -0.048053 |
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.
NeoGenomics has a M-score of -2.62 suggests that the company is unlikely to be a manipulator.
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