Cinclus Pharma Holding AB (OSTO:CINPHA) Beneish M-Score : 0.00 (As of Mar. 31, 2025)

View and export this data going back to 2024. Start your Free Trial

What is Cinclus Pharma Holding AB Beneish M-Score?

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 Cinclus Pharma Holding AB's Beneish M-Score or its related term are showing as below:

During the past 4 years, the highest Beneish M-Score of Cinclus Pharma Holding AB was 0.00. The lowest was 0.00. And the median was 0.00.

Cinclus Pharma Holding AB Beneish M-Score Historical Data

The historical data trend for Cinclus Pharma Holding AB'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.

Cinclus Pharma Holding AB Beneish M-Score Chart

Cinclus Pharma Holding AB Annual Data

Trend

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

Cinclus Pharma Holding AB Quarterly Data
	Dec21	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24
Beneish M-Score	Get a 7-Day Free Trial					-	-	-	-	-

Competitive Comparison of Cinclus Pharma Holding AB's Beneish M-Score

For the Drug Manufacturers - Specialty & Generic subindustry, Cinclus Pharma Holding AB'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.

Cinclus Pharma Holding AB's Beneish M-Score Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Cinclus Pharma Holding AB's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Cinclus Pharma Holding AB's Beneish M-Score falls into.

Save Embed

;

Save Embed

;

Cinclus Pharma Holding AB 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 Cinclus Pharma Holding AB for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was kr33.75 Mil.
Revenue was 4.58 + 0 + 0 + 0 = kr4.58 Mil.
Gross Profit was 4.58 + 0 + 0 + 0 = kr4.58 Mil.
Total Current Assets was kr600.47 Mil.
Total Assets was kr601.01 Mil.
Property, Plant and Equipment(Net PPE) was kr0.54 Mil.
Depreciation, Depletion and Amortization(DDA) was kr1.34 Mil.
Selling, General, & Admin. Expense(SGA) was kr36.85 Mil.
Total Current Liabilities was kr45.49 Mil.
Long-Term Debt & Capital Lease Obligation was kr0.19 Mil.
Net Income was -54.259 + -36.547 + -40.33 + -36.895 = kr-168.03 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = kr0.00 Mil.
Cash Flow from Operations was -78.584 + -42.377 + -21.911 + -35.495 = kr-178.37 Mil.

Total Receivables was kr0.31 Mil.
Revenue was 0 + 0 + 2.952 + 3.007 = kr5.96 Mil.
Gross Profit was 0 + 0 + 2.952 + 3.007 = kr5.96 Mil.
Total Current Assets was kr94.09 Mil.
Total Assets was kr94.41 Mil.
Property, Plant and Equipment(Net PPE) was kr0.32 Mil.
Depreciation, Depletion and Amortization(DDA) was kr1.25 Mil.
Selling, General, & Admin. Expense(SGA) was kr39.56 Mil.
Total Current Liabilities was kr164.42 Mil.
Long-Term Debt & Capital Lease Obligation was kr0.00 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)
	=	(33.75 / 4.58)	/	(0.309 / 5.959)
	=	7.368996	/	0.051854
	=

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)
	=	(5.959 / 5.959)	/	(4.58 / 4.58)
	=	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 - (600.467 + 0.544) / 601.013)	/	(1 - (94.091 + 0.322) / 94.413)
	=	3.0E-6	/	0
	=

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
	=	4.58	/	5.959
	=

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))
	=	(1.251 / (1.251 + 0.322))	/	(1.338 / (1.338 + 0.544))
	=	0.795296	/	0.710946
	=

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)
	=	(36.854 / 4.58)	/	(39.562 / 5.959)
	=	8.046725	/	6.639033
	=

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)
	=	((0.19 + 45.493) / 601.013)	/	((0 + 164.422) / 94.413)
	=	0.07601	/	1.741519
	=

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
	=	(-168.031 - 0	-	-178.367)	/	601.013
	=	0.017198

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.

Cinclus Pharma Holding AB Beneish M-Score Related Terms

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

Cinclus Pharma Holding AB Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Cinclus Pharma Holding AB (OSTO:CINPHA) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Kungsbron 1, Stockholm, SWE, SE-111 22

Website

https://www.cincluspharma.com

Cinclus Pharma Holding AB is a clinical stage pharmaceutical company developing a drug for the treatment of erosive gastroesophageal reflux diseases, and a dual therapy treatment with an antibiotic targeting Helicobacter pylori which is a bacteria that occurs in the gastric and duodenal mucosa. The Company's main target population is patients suffering from severe eGERD, where there is a lack of satisfactory treatment options.

Cinclus Pharma Holding AB Headlines

No Headlines