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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.
The historical rank and industry rank for Nutra Pharma's Beneish M-Score or its related term are showing as below:
During the past 13 years, the highest Beneish M-Score of Nutra Pharma was 0.00. The lowest was 0.00. And the median was 0.00.
The historical data trend for Nutra Pharma'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.
Nutra Pharma Annual Data | |||||||||||||||||||||
Trend | Dec12 | Dec13 | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | |||||||||||
Beneish M-Score | Get a 7-Day Free Trial | 6.36 | -32.16 | -10.75 | -9.89 | -1.45 |
Nutra Pharma Quarterly Data | ||||||||||||||||||||
Dec17 | Mar18 | Jun18 | Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | |
Beneish M-Score | Get a 7-Day Free Trial | -1.88 | -1.45 | - | -4.70 | -8.63 |
For the Drug Manufacturers - Specialty & Generic subindustry, Nutra Pharma'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.
For the Drug Manufacturers industry and Healthcare sector, Nutra Pharma's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Nutra Pharma's Beneish M-Score falls into.
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 Nutra Pharma 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 * 0.3401 | + | 0.528 * 1.5861 | + | 0.404 * 1.1189 | + | 0.892 * 2.8721 | + | 0.115 * 0.5548 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 0.2628 | + | 4.679 * -1.646889 | - | 0.327 * 0.8054 | |||||||
= | -8.63 |
* 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 (Sep22) TTM: | Last Year (Sep21) TTM: |
Total Receivables was $0.30 Mil. Revenue was 0.109 + 0.09 + 0.022 + 0.026 = $0.25 Mil. Gross Profit was 0.068 + 0.03 + 0.008 + -0.039 = $0.07 Mil. Total Current Assets was $0.46 Mil. Total Assets was $0.69 Mil. Property, Plant and Equipment(Net PPE) was $0.13 Mil. Depreciation, Depletion and Amortization(DDA) was $0.09 Mil. Selling, General, & Admin. Expense(SGA) was $1.42 Mil. Total Current Liabilities was $16.15 Mil. Long-Term Debt & Capital Lease Obligation was $0.15 Mil. Net Income was 0.577 + -0.646 + 5.013 + 2.169 = $7.11 Mil. Non Operating Income was 1.035 + -0.127 + 5.515 + 2.77 = $9.19 Mil. Cash Flow from Operations was -0.165 + -0.285 + -0.258 + -0.234 = $-0.94 Mil. |
Total Receivables was $0.30 Mil. Revenue was 0.019 + 0.03 + 0.022 + 0.015 = $0.09 Mil. Gross Profit was 0.01 + 0.021 + 0.016 + -0.01 = $0.04 Mil. Total Current Assets was $0.57 Mil. Total Assets was $0.84 Mil. Property, Plant and Equipment(Net PPE) was $0.16 Mil. Depreciation, Depletion and Amortization(DDA) was $0.05 Mil. Selling, General, & Admin. Expense(SGA) was $1.88 Mil. Total Current Liabilities was $23.78 Mil. Long-Term Debt & Capital Lease Obligation was $0.68 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) |
= | (0.295 / 0.247) | / | (0.302 / 0.086) | |
= | 1.194332 | / | 3.511628 | |
= | 0.3401 |
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) | |
= | (0.037 / 0.086) | / | (0.067 / 0.247) | |
= | 0.430233 | / | 0.271255 | |
= | 1.5861 |
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 - (0.462 + 0.129) / 0.691) | / | (1 - (0.572 + 0.155) / 0.835) | |
= | 0.144718 | / | 0.129341 | |
= | 1.1189 |
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 | |
= | 0.247 | / | 0.086 | |
= | 2.8721 |
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)) |
= | (0.045 / (0.045 + 0.155)) | / | (0.088 / (0.088 + 0.129)) | |
= | 0.225 | / | 0.40553 | |
= | 0.5548 |
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) |
= | (1.418 / 0.247) | / | (1.879 / 0.086) | |
= | 5.740891 | / | 21.848837 | |
= | 0.2628 |
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) |
= | ((0.152 + 16.148) / 0.691) | / | ((0.68 + 23.775) / 0.835) | |
= | 23.589001 | / | 29.287425 | |
= | 0.8054 |
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 | |
= | (7.113 - 9.193 | - | -0.942) | / | 0.691 | |
= | -1.646889 |
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.
Nutra Pharma has a M-score of -8.63 suggests that the company is unlikely to be a manipulator.
Thank you for viewing the detailed overview of Nutra Pharma's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Rik J Deitsch | officer: Chief Executive Officer | 4001 NW 73 WAY, CORAL SPRINGS FL 33065 |
Dan Oran | director | 8411 W OAKLAND PARK BLVD, #201, SUNRISE FL 33351 |
Bruno Sartori | other: Former CFO | 275 COMMERCIAL BLVD, STE 260, FT LAUDERDALE FL 33308 |
Harold Henry Rumph | director, officer: President - ReceptoPharm | 1537 N.W. 65TH AVENUE, PLANTATION FL 33313 |
David Michael Isserman | officer: Chief Marketing Officer | 2776 UNIVERSITY DRIVE, CORAL SPRINGS FL 33065 |
Garry Pottruck | director | 10768 NW 18TH CT, CORAL SPRINGS FL 33071 |
Paul F Reid | director | 9610 NW 24 CT, SUNRISE FL 33322 |
Michael Doherty | director, officer: Executive Chairman | |
Tanvir A Khandaker | director | 387 PARK AVENUE SOUTH THIRD FLOOR, NEW YORK NY 10016 |
Stewart Alan Lonky | director | 1158 CHAUTAUQUA BLVD., PACIFIC PALISADES CA 90272 |
Stanley Jack Cherelstein | director | 2401 SW MANOR HILL DRIVE, PALM CITY FL 34990 |
Michael Flax | director, officer: Chief Financial Officer | 2499 BANYAN RD, BOCA RATON FL 33432 |
Mcclelland David C Sr | director | P.O. BOX 263, FINDLEY LAKE NY 14736 |
Mitchell S Felder | director | PO BOX 1332, HERMITAGE PA 16148 |
Khalsa Soram Singh Md | director | 436 N BEDFORD DR, BEVERLY HILLS CA 90210 |
From GuruFocus
By Marketwired Marketwired • 04-19-2018
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