Neola Medical AB (OSTO:NEOLA) Beneish M-Score : 0.00 (As of Jun. 06, 2024)

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What is Neola Medical 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 Neola Medical AB's Beneish M-Score or its related term are showing as below:

During the past 6 years, the highest Beneish M-Score of Neola Medical AB was 76.24. The lowest was -2.66. And the median was 22.31.

Neola Medical AB Beneish M-Score Historical Data

The historical data trend for Neola Medical 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.

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Neola Medical AB Beneish M-Score Chart

Neola Medical AB Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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16.03

Neola Medical AB Quarterly Data
	Dec18	Jun19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of Neola Medical AB's Beneish M-Score

For the Medical Devices subindustry, Neola Medical 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.

Neola Medical AB's Beneish M-Score Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Neola Medical AB's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Neola Medical AB's Beneish M-Score falls into.

Neola Medical 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 Neola Medical 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 (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was kr1.81 Mil.
Revenue was 0 + 0 + 0 + 0 = kr0.00 Mil.
Gross Profit was 2.675 + 2.407 + 1.576 + 2.075 = kr8.73 Mil.
Total Current Assets was kr36.95 Mil.
Total Assets was kr83.07 Mil.
Property, Plant and Equipment(Net PPE) was kr0.12 Mil.
Depreciation, Depletion and Amortization(DDA) was kr1.60 Mil.
Selling, General, & Admin. Expense(SGA) was kr0.00 Mil.
Total Current Liabilities was kr5.88 Mil.
Long-Term Debt & Capital Lease Obligation was kr0.00 Mil.
Net Income was -2.321 + -1.955 + -2.366 + -2.4 = kr-9.04 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = kr0.00 Mil.
Cash Flow from Operations was -2.474 + -0.795 + -1.31 + -2.121 = kr-6.70 Mil.

Total Receivables was kr1.50 Mil.
Revenue was 0 + 0 + 0 + 0 = kr0.00 Mil.
Gross Profit was 1.962 + 1.786 + 1.615 + 2.037 = kr7.40 Mil.
Total Current Assets was kr36.41 Mil.
Total Assets was kr72.41 Mil.
Property, Plant and Equipment(Net PPE) was kr0.20 Mil.
Depreciation, Depletion and Amortization(DDA) was kr1.35 Mil.
Selling, General, & Admin. Expense(SGA) was kr5.02 Mil.
Total Current Liabilities was kr5.13 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)
	=	(1.805 / 0)	/	(1.504 / 0)
	=		/
	=

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)
	=	(7.4 / 0)	/	(8.733 / 0)
	=		/
	=

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 - (36.95 + 0.116) / 83.074)	/	(1 - (36.408 + 0.202) / 72.41)
	=	0.553819	/	0.494407
	=

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	/	0
	=

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))
	=	(1.346 / (1.346 + 0.202))	/	(1.596 / (1.596 + 0.116))
	=	0.869509	/	0.932243
	=

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)
	=	(0 / 0)	/	(5.016 / 0)
	=		/
	=

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 + 5.882) / 83.074)	/	((0 + 5.13) / 72.41)
	=	0.070804	/	0.070847
	=

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
	=	(-9.042 - 0	-	-6.7)	/	83.074
	=	-0.028192

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.

Neola Medical AB Beneish M-Score Related Terms

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Neola Medical AB (OSTO:NEOLA) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Neola Medical AB (OSTO:NEOLA) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Scheelevägen 27, Ideon Science Park, Lund, SWE, 223 63

Website

https://www.neolamedical.se

Neola Medical AB is revolutionizing neonatal intensive care with NEOLA, a medical device that can offer continuous lung monitoring and real-time alerts of life-threatening complications using a technology that measures lung volume changes and oxygen gas concentration. NEOLA has the potential to provide care, fewer days in intensive care, and healthier lives for preterm born infants. The company is building on a historic Swedish legacy of medical technology innovation and invaluable contributions to health care.

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