>
Switch to:

Myovant Sciences Beneish M-Score

: -3.85 (As of Today)
View and export this data going back to 2016. Start your Free Trial

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 -3.85 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

NYSE:MYOV' s Beneish M-Score Range Over the Past 10 Years
Min: -5.54   Med: -4.7   Max: -3.85
Current: -3.85

-5.54
-3.85

During the past 6 years, the highest Beneish M-Score of Myovant Sciences was -3.85. The lowest was -5.54. And the median was -4.70.


Myovant Sciences Beneish M-Score Historical Data

The historical data trend for Myovant Sciences'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.

Myovant Sciences Annual Data
Trend Mar16 Mar17 Mar18 Mar19 Mar20 Mar21
Beneish M-Score
Premium Member Only - - - - -

Myovant Sciences Quarterly Data
Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
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 - - - -5.54 -3.85

Competitive Comparison

For the Biotechnology subindustry, Myovant Sciences'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.

   

Myovant Sciences Beneish M-Score Distribution

For the Biotechnology industry and Healthcare sector, Myovant Sciences's Beneish M-Score distribution charts can be found below:

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



Myovant Sciences 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 Myovant Sciences 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 * 1.1549+0.404 * 0.4519+0.892 * 4.3485+0.115 * 0.7411
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.5379+4.679 * -0.955-0.327 * 0.3839
=-3.85

* 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 (Sep21) TTM:Last Year (Sep20) TTM:
Accounts Receivable was $14.4 Mil.
Revenue was 77.902 + 41.063 + 24.605 + 1.379 = $144.9 Mil.
Gross Profit was 66.715 + 34.77 + 22.64 + 1.379 = $125.5 Mil.
Total Current Assets was $654.7 Mil.
Total Assets was $679.5 Mil.
Property, Plant and Equipment(Net PPE) was $12.1 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.9 Mil.
Selling, General, & Admin. Expense(SGA) was $247.3 Mil.
Total Current Liabilities was $268.3 Mil.
Long-Term Debt & Capital Lease Obligation was $366.9 Mil.
Net Income was -21.591 + -61.66 + -81.363 + -73.849 = $-238.5 Mil.
Non Operating Income was 0 + 0 + -0.002 + 5.891 = $5.9 Mil.
Cash Flow from Operations was 36.599 + -113.177 + -92.943 + 574.147 = $404.6 Mil.
Accounts Receivable was $0.0 Mil.
Revenue was 0 + 33.333 + 0 + 0 = $33.3 Mil.
Gross Profit was 0 + 33.333 + 0 + 0 = $33.3 Mil.
Total Current Assets was $116.9 Mil.
Total Assets was $135.8 Mil.
Property, Plant and Equipment(Net PPE) was $13.2 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.2 Mil.
Selling, General, & Admin. Expense(SGA) was $105.7 Mil.
Total Current Liabilities was $66.8 Mil.
Long-Term Debt & Capital Lease Obligation was $263.8 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Accounts Receivable 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)
=(14.402 / 144.949) / (0 / 33.333)
=0.09935908 / 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)
=(33.333 / 33.333) / (125.504 / 144.949)
=1 / 0.86584937
=1.1549

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 - (654.666 + 12.132) / 679.54) / (1 - (116.908 + 13.231) / 135.773)
=0.01875092 / 0.04149573
=0.4519

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
=144.949 / 33.333
=4.3485

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))
=(2.185 / (2.185 + 13.231)) / (2.869 / (2.869 + 12.132))
=0.14173586 / 0.19125392
=0.7411

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)
=(247.272 / 144.949) / (105.716 / 33.333)
=1.70592415 / 3.17151172
=0.5379

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)
=((366.859 + 268.336) / 679.54) / ((263.827 + 66.757) / 135.773)
=0.93474262 / 2.43482872
=0.3839

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
=(-238.463 - 5.889 - 404.626) / 679.54
=-0.955

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.

Myovant Sciences has a M-score of -3.85 suggests that the company is unlikely to be a manipulator.


Myovant Sciences Beneish M-Score Related Terms

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


Myovant Sciences Business Description

Myovant Sciences logo
Industry
Healthcare » Biotechnology NAICS : 0 SIC : 0
Traded in Other Exchanges
Address
11-12 St. James’s Square, Suite 1, 3rd Floor, London, GBR, SW1Y 4LB
Myovant Sciences Ltd is a healthcare company focused on redefining care for women and for men. The company's lead product candidate is relugolix, a once-daily, oral GnRH receptor antagonist. It has three late-stage clinical programs for relugolix in uterine fibroids, endometriosis, and prostate cancer. The company is also developing MVT-602, an oligopeptide kisspeptin-1 receptor agonist, that has completed a Phase 2a study for the treatment of female infertility as part of assisted reproduction.
Executives
Potter Myrtle S director 10 FINDERNE AVE BRIDGEWATER NJ 08807
Guinan Mark director C/O QUEST DIAGNOSTICS 500 PLAZA DRIVE SECAUCUS NJ 07094
Arjona Ferreira Juan Camilo officer: Chief Medical Officer C/O MYOVANT SCIENCES INC. 2000 SIERRA POINT PARKWAY, 9TH FLOOR BRISBANE CA 94005
Curran Terrie director C/O MYOVANT SCIENCES INC. 320 WEST 37TH STREET, 5TH FLOOR NEW YORK NY 10018
Gulfo Adele M. director ONE NEENAH CENTER, 4TH FLOOR P.O. BOX 669 NEENAH WI 54957
Sebelius Kathleen director C/O DERMIRA, INC. 275 MIDDLEFIELD ROAD, SUITE 150 MENLO PARK CA 94025
Lang Matthew officer: General Counsel & Corp. Secy. C/O MYOVANT SCIENCES INC. 2000 SIERRA POINT PARKWAY, 9TH FLOOR BRISBANE CA 94005
Sumitomo Chemical Co., Ltd. 10 percent owner 27-1, SHINKAWA 2-CHOME CHUO-KU TOKYO M0 104-8260
Sumitovant Biopharma Ltd. 10 percent owner C/O ROIVANT SCIENCES, INC. 320 WEST 37TH STREET, 5TH FLOOR NEW YORK NY 10018
Dainippon Sumitomo Pharma Co Ltd 10 percent owner 60 WALL STREET NEW YORK NY 10005
Seely Lynn director, officer: Principal Executive Officer 501 2ND STREET SUITE 211 SAN FRANCISCO CA 94107
Sablich Kim officer: Chief Commercial Officer C/O MYOVANT SCIENCES INC. 2000 SIERRA POINT PARKWAY BRISBANE CA 94005
Nomura Hiroshi director C/O MYOVANT SCIENCES INC. 2000 SIERRA POINT PARKWAY BRISBANE CA 94005
Roivant Sciences Ltd. 10 percent owner CLARENDON HOUSE 2 CHURCH STREET HAMILTON D0 HM11
Torti Frank director 2855 SAND HILL ROAD MENLO PARK CA 94025

Myovant Sciences Headlines

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)