Getein Biotech Beneish M-Score Historical Data
The historical data trend for Getein Biotech'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.
Getein Biotech Beneish M-Score Chart
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Getein Biotech Annual Data
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Trend |
Dec14 |
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Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-0.70 |
-1.60 |
-2.45 |
-1.93 |
-2.56 |
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Getein Biotech Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
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Mar21 |
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Mar24 |
| Beneish M-Score |
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-2.35 |
-2.33 |
-2.39 |
-2.56 |
-2.61 |
Competitive Comparison of Getein Biotech's Beneish M-Score
For the Medical Devices subindustry, Getein Biotech'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.
Getein Biotech's Beneish M-Score Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Getein Biotech's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Getein Biotech's Beneish M-Score falls into.
Getein Biotech 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 Getein Biotech 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 * 1.1504 | + | 0.528 * 0.9652 | + | 0.404 * 1.4353 | + | 0.892 * 0.7988 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.3264 | + | 4.679 * -0.037642 | - | 0.327 * 1.0444 |
| = | -2.61 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was ¥484 Mil.
Revenue was 321.583 + 368.2 + 297.605 + 319.041 = ¥1,306 Mil.
Gross Profit was 229.85 + 248.361 + 195.709 + 203.782 = ¥878 Mil.
Total Current Assets was ¥2,021 Mil.
Total Assets was ¥3,788 Mil.
Property, Plant and Equipment(Net PPE) was ¥723 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥366 Mil.
Total Current Liabilities was ¥912 Mil.
Long-Term Debt & Capital Lease Obligation was ¥4 Mil.
Net Income was 86.013 + 50.702 + 60.35 + 47.194 = ¥244 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was 67.115 + 186.713 + 28.671 + 104.352 = ¥387 Mil.
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Total Receivables was ¥527 Mil.
Revenue was 384.316 + 444.693 + 403.956 + 402.496 = ¥1,635 Mil.
Gross Profit was 275.245 + 247.41 + 283.376 + 254.451 = ¥1,060 Mil.
Total Current Assets was ¥2,413 Mil.
Total Assets was ¥3,672 Mil.
Property, Plant and Equipment(Net PPE) was ¥554 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥345 Mil.
Total Current Liabilities was ¥842 Mil.
Long-Term Debt & Capital Lease Obligation was ¥8 Mil.
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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) |
| = | (483.883 / 1306.429) | / | (526.551 / 1635.461) |
| = | 0.370386 | / | 0.321959 |
| | = | 1.1504 |
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) |
| = | (1060.482 / 1635.461) | / | (877.702 / 1306.429) |
| = | 0.64843 | / | 0.671833 |
| | = | 0.9652 |
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 - (2021.269 + 722.751) / 3788.151) | / | (1 - (2412.795 + 554.005) / 3671.973) |
| = | 0.275631 | / | 0.192042 |
| | = | 1.4353 |
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 |
| = | 1306.429 | / | 1635.461 |
| | = | 0.7988 |
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 + 554.005)) | / | (0 / (0 + 722.751)) |
| = | 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) |
| = | (366.033 / 1306.429) | / | (345.455 / 1635.461) |
| = | 0.280178 | / | 0.211228 |
| | = | 1.3264 |
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) |
| = | ((3.823 + 911.891) / 3788.151) | / | ((7.638 + 842.235) / 3671.973) |
| = | 0.241731 | / | 0.231449 |
| | = | 1.0444 |
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 |
| = | (244.259 - 0 | - | 386.851) | / | 3788.151 |
| | = | -0.037642 |
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.
Getein Biotech has a M-score of -2.61 suggests that the company is unlikely to be a manipulator.
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