PELL Bio-Med Technology Co Beneish M-Score Historical Data
The historical data trend for PELL Bio-Med Technology Co'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.
PELL Bio-Med Technology Co Beneish M-Score Chart
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PELL Bio-Med Technology Co Annual Data
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Trend |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
- |
- |
-1.85 |
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PELL Bio-Med Technology Co Quarterly Data
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Dec21 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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- |
- |
- |
-2.48 |
-1.85 |
Competitive Comparison of PELL Bio-Med Technology Co's Beneish M-Score
For the Biotechnology subindustry, PELL Bio-Med Technology Co'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.
PELL Bio-Med Technology Co's Beneish M-Score Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, PELL Bio-Med Technology Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where PELL Bio-Med Technology Co's Beneish M-Score falls into.
PELL Bio-Med Technology Co 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 PELL Bio-Med Technology Co 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 * 0.4993 | + | 0.528 * 2.3085 | + | 0.404 * 2.8431 | + | 0.892 * 1.0886 | + | 0.115 * 1.7096 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8524 | + | 4.679 * -0.074102 | - | 0.327 * 1.5744 |
| = | -1.85 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was NT$4.31 Mil.
Revenue was 4.638 + 4.98 + 5.014 + 4.999 = NT$19.63 Mil.
Gross Profit was -3.594 + -2.679 + -2.982 + -3.072 = NT$-12.33 Mil.
Total Current Assets was NT$1,157.73 Mil.
Total Assets was NT$1,744.83 Mil.
Property, Plant and Equipment(Net PPE) was NT$502.04 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$46.88 Mil.
Selling, General, & Admin. Expense(SGA) was NT$135.01 Mil.
Total Current Liabilities was NT$321.35 Mil.
Long-Term Debt & Capital Lease Obligation was NT$137.27 Mil.
Net Income was -101.736 + -100.839 + -101.546 + -85.294 = NT$-389.42 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = NT$0.00 Mil.
Cash Flow from Operations was -69.896 + -94.647 + -42.185 + -53.392 = NT$-260.12 Mil.
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Total Receivables was NT$7.94 Mil.
Revenue was 3.419 + 4.557 + 4.991 + 5.066 = NT$18.03 Mil.
Gross Profit was -3.69 + -10.624 + -9.976 + -1.85 = NT$-26.14 Mil.
Total Current Assets was NT$1,127.04 Mil.
Total Assets was NT$1,418.16 Mil.
Property, Plant and Equipment(Net PPE) was NT$266.80 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$45.61 Mil.
Selling, General, & Admin. Expense(SGA) was NT$145.49 Mil.
Total Current Liabilities was NT$89.30 Mil.
Long-Term Debt & Capital Lease Obligation was NT$147.47 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) |
| = | (4.313 / 19.631) | / | (7.935 / 18.033) |
| = | 0.219704 | / | 0.440027 |
| | = | 0.4993 |
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) |
| = | (-26.14 / 18.033) | / | (-12.327 / 19.631) |
| = | -1.449565 | / | -0.627935 |
| | = | 2.3085 |
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 - (1157.729 + 502.038) / 1744.832) | / | (1 - (1127.036 + 266.802) / 1418.156) |
| = | 0.048753 | / | 0.017148 |
| | = | 2.8431 |
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 |
| = | 19.631 | / | 18.033 |
| | = | 1.0886 |
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)) |
| = | (45.614 / (45.614 + 266.802)) | / | (46.88 / (46.88 + 502.038)) |
| = | 0.146004 | / | 0.085404 |
| | = | 1.7096 |
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) |
| = | (135.011 / 19.631) | / | (145.492 / 18.033) |
| = | 6.877439 | / | 8.068097 |
| | = | 0.8524 |
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) |
| = | ((137.267 + 321.35) / 1744.832) | / | ((147.467 + 89.298) / 1418.156) |
| = | 0.262843 | / | 0.166953 |
| | = | 1.5744 |
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 |
| = | (-389.415 - 0 | - | -260.12) | / | 1744.832 |
| | = | -0.074102 |
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.
PELL Bio-Med Technology Co has a M-score of -1.85 suggests that the company is unlikely to be a manipulator.
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