Nxera Pharma Co Beneish M-Score Historical Data
The historical data trend for Nxera Pharma 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.
Nxera Pharma Co Beneish M-Score Chart
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Nxera Pharma Co Annual Data
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Dec24 |
| Beneish M-Score |
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-4.16 |
-1.94 |
-2.84 |
-1.23 |
-1.58 |
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Nxera Pharma Co Quarterly Data
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Dec24 |
| Beneish M-Score |
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-1.23 |
-0.42 |
-1.53 |
-1.80 |
-1.58 |
Competitive Comparison of Nxera Pharma Co's Beneish M-Score
For the Biotechnology subindustry, Nxera Pharma 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.
Nxera Pharma Co's Beneish M-Score Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Nxera Pharma Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Nxera Pharma Co's Beneish M-Score falls into.
Nxera Pharma 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 Nxera Pharma 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 * 0.5853 | + | 0.528 * 1.0287 | + | 0.404 * 1.0621 | + | 0.892 * 2.2587 | + | 0.115 * 0.6864 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.7115 | + | 4.679 * 0.01901 | - | 0.327 * 0.9449 |
| = | -1.58 |
* 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 円6,695 Mil.
Revenue was 6852 + 9263 + 8109 + 4611 = 円28,835 Mil.
Gross Profit was 4725 + 7266 + 5808 + 3420 = 円21,219 Mil.
Total Current Assets was 円57,855 Mil.
Total Assets was 円151,498 Mil.
Property, Plant and Equipment(Net PPE) was 円7,468 Mil.
Depreciation, Depletion and Amortization(DDA) was 円3,984 Mil.
Selling, General, & Admin. Expense(SGA) was 円16,015 Mil.
Total Current Liabilities was 円15,632 Mil.
Long-Term Debt & Capital Lease Obligation was 円61,210 Mil.
Net Income was -1335 + 1200 + -1422 + -3281 = 円-4,838 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = 円0 Mil.
Cash Flow from Operations was -10970 + 1741 + 3716 + -2205 = 円-7,718 Mil.
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Total Receivables was 円5,064 Mil.
Revenue was 7292 + 3328 + 1203 + 943 = 円12,766 Mil.
Gross Profit was 5542 + 2201 + 1070 + 851 = 円9,664 Mil.
Total Current Assets was 円65,112 Mil.
Total Assets was 円157,198 Mil.
Property, Plant and Equipment(Net PPE) was 円7,900 Mil.
Depreciation, Depletion and Amortization(DDA) was 円2,478 Mil.
Selling, General, & Admin. Expense(SGA) was 円9,965 Mil.
Total Current Liabilities was 円17,185 Mil.
Long-Term Debt & Capital Lease Obligation was 円67,200 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) |
| = | (6695 / 28835) | / | (5064 / 12766) |
| = | 0.232183 | / | 0.396679 |
| | = | 0.5853 |
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) |
| = | (9664 / 12766) | / | (21219 / 28835) |
| = | 0.757011 | / | 0.735877 |
| | = | 1.0287 |
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 - (57855 + 7468) / 151498) | / | (1 - (65112 + 7900) / 157198) |
| = | 0.568819 | / | 0.535541 |
| | = | 1.0621 |
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 |
| = | 28835 | / | 12766 |
| | = | 2.2587 |
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)) |
| = | (2478 / (2478 + 7900)) | / | (3984 / (3984 + 7468)) |
| = | 0.238774 | / | 0.347887 |
| | = | 0.6864 |
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) |
| = | (16015 / 28835) | / | (9965 / 12766) |
| = | 0.555401 | / | 0.780589 |
| | = | 0.7115 |
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) |
| = | ((61210 + 15632) / 151498) | / | ((67200 + 17185) / 157198) |
| = | 0.507215 | / | 0.536807 |
| | = | 0.9449 |
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 |
| = | (-4838 - 0 | - | -7718) | / | 151498 |
| | = | 0.01901 |
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.
Nxera Pharma Co has a M-score of -1.58 signals that the company is likely to be a manipulator.
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