Surgical Science Sweden AB (OSTO:SUS) Beneish M-Score : -2.17 (As of Jul. 06, 2025)

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What is Surgical Science Sweden 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.

Good Sign:

Beneish M-Score -2.17 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Surgical Science Sweden AB's Beneish M-Score or its related term are showing as below:

OSTO:SUS' s Beneish M-Score Range Over the Past 10 Years
Min: -3.4 Med: -2.28 Max: 1.24
Current: -2.17

During the past 10 years, the highest Beneish M-Score of Surgical Science Sweden AB was 1.24. The lowest was -3.40. And the median was -2.28.

Surgical Science Sweden AB Beneish M-Score Historical Data

The historical data trend for Surgical Science Sweden 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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Surgical Science Sweden AB Beneish M-Score Chart

Surgical Science Sweden AB Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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-2.57

0.46

-1.60

-2.69

-2.50

Surgical Science Sweden AB Quarterly Data
	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25
Beneish M-Score	Get a 7-Day Free Trial															-2.57	-2.42	-2.15	-2.50	-2.17

Competitive Comparison of Surgical Science Sweden AB's Beneish M-Score

For the Health Information Services subindustry, Surgical Science Sweden 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.

Surgical Science Sweden AB's Beneish M-Score Distribution in the Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Surgical Science Sweden AB's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Surgical Science Sweden AB's Beneish M-Score falls into.

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Surgical Science Sweden 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 Surgical Science Sweden 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 * 1.2696

0.528 * 1.0031

0.404 * 0.9696

0.892 * 1.1241

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1208

4.679 * 0.007619

0.327 * 1.1659

-2.17

This Year (Mar25) TTM:

Last Year (Mar24) TTM:

Total Receivables was kr308.7 Mil.
Revenue was 250.691 + 251.549 + 231.828 + 212.466 = kr946.5 Mil.
Gross Profit was 172.599 + 170.075 + 161.012 + 143.484 = kr647.2 Mil.
Total Current Assets was kr1,109.5 Mil.
Total Assets was kr4,897.1 Mil.
Property, Plant and Equipment(Net PPE) was kr111.5 Mil.
Depreciation, Depletion and Amortization(DDA) was kr0.0 Mil.
Selling, General, & Admin. Expense(SGA) was kr293.1 Mil.
Total Current Liabilities was kr285.2 Mil.
Long-Term Debt & Capital Lease Obligation was kr0.0 Mil.
Net Income was 33.237 + 36.264 + 43.023 + 28.568 = kr141.1 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = kr0.0 Mil.
Cash Flow from Operations was -4.958 + 56.668 + 22.089 + 29.98 = kr103.8 Mil.

Total Receivables was kr216.3 Mil.
Revenue was 188.243 + 227.293 + 210.246 + 216.237 = kr842.0 Mil.
Gross Profit was 123.325 + 162.429 + 145.025 + 146.739 = kr577.5 Mil.
Total Current Assets was kr1,044.3 Mil.
Total Assets was kr4,959.1 Mil.
Property, Plant and Equipment(Net PPE) was kr75.3 Mil.
Depreciation, Depletion and Amortization(DDA) was kr0.0 Mil.
Selling, General, & Admin. Expense(SGA) was kr232.6 Mil.
Total Current Liabilities was kr247.7 Mil.
Long-Term Debt & Capital Lease Obligation was kr0.0 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)
	=	(308.685 / 946.534)	/	(216.29 / 842.019)
	=	0.326121	/	0.256871
	=	1.2696

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)
	=	(577.518 / 842.019)	/	(647.17 / 946.534)
	=	0.685873	/	0.683726
	=	1.0031

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 - (1109.456 + 111.479) / 4897.139)	/	(1 - (1044.252 + 75.274) / 4959.08)
	=	0.750684	/	0.774247
	=	0.9696

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
	=	946.534	/	842.019
	=	1.1241

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 / (0 + 75.274))	/	(0 / (0 + 111.479))
	=	0	/	0
	=	1

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)
	=	(293.055 / 946.534)	/	(232.609 / 842.019)
	=	0.309609	/	0.276251
	=	1.1208

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 + 285.164) / 4897.139)	/	((0 + 247.683) / 4959.08)
	=	0.058231	/	0.049945
	=	1.1659

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
	=	(141.092 - 0	-	103.779)	/	4897.139
	=	0.007619

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.

Surgical Science Sweden AB has a M-score of -2.17 suggests that the company is unlikely to be a manipulator.

Surgical Science Sweden AB Beneish M-Score Related Terms

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Surgical Science Sweden AB Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Healthcare Providers & Services » Surgical Science Sweden AB (OSTO:SUS) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

SUSRF:USA 4P41:Germany

Address

Drakegatan 7A, Gothenburg, SWE, SE-412 50

Website

https://www.surgicalscience.com

Surgical Science Sweden AB is a supplier of virtual reality simulators for medical training. The company's core is its proprietary software and hardware for simulating interactions between instruments and anatomy. It has two operating segments; Educational products include Proprietary brand medical simulator hardware and software for generic training of psycho-motor skills, instrument handling, and training for a large number of procedures and examinations, prior to entering the clinical environment and also support and services, and Industry/OEM includes simulation software for product-specific training of surgeons in robot-assisted surgery and other digitalized medical instruments and also simulators for medical device companies.

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