PeptiDream Beneish M-Score Historical Data
The historical data trend for PeptiDream'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.
PeptiDream Beneish M-Score Chart
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PeptiDream Annual Data
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Trend |
Jun14 |
Jun15 |
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Jun17 |
Jun18 |
Jun19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.85 |
5.40 |
-3.47 |
4.44 |
-3.60 |
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PeptiDream Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
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Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
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4.44 |
-1.42 |
-1.71 |
-1.16 |
-3.60 |
Competitive Comparison of PeptiDream's Beneish M-Score
For the Biotechnology subindustry, PeptiDream'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.
PeptiDream's Beneish M-Score Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, PeptiDream's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where PeptiDream's Beneish M-Score falls into.
PeptiDream 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 PeptiDream 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 * 0.2802 | + | 0.528 * 1.1248 | + | 0.404 * 1.1068 | + | 0.892 * 1.0693 | + | 0.115 * 0.7986 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0909 | + | 4.679 * -0.135108 | - | 0.327 * 0.8838 |
| = | -3.60 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was 円4,971 Mil.
Revenue was 6168.243 + 13117.901 + 4462.579 + 4963.47 = 円28,712 Mil.
Gross Profit was 2988.481 + 10268.88 + 1812.328 + 2149.026 = 円17,219 Mil.
Total Current Assets was 円27,225 Mil.
Total Assets was 円69,464 Mil.
Property, Plant and Equipment(Net PPE) was 円17,358 Mil.
Depreciation, Depletion and Amortization(DDA) was 円2,433 Mil.
Selling, General, & Admin. Expense(SGA) was 円7,256 Mil.
Total Current Liabilities was 円8,617 Mil.
Long-Term Debt & Capital Lease Obligation was 円19,634 Mil.
Net Income was -505.6 + 4270.446 + -480.212 + -248.801 = 円3,036 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = 円0 Mil.
Cash Flow from Operations was 3234.34 + 417.108 + 1032.478 + 7737.043 = 円12,421 Mil.
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Total Receivables was 円16,589 Mil.
Revenue was 15643.89 + 6184.143 + 4604.87 + 419.526 = 円26,852 Mil.
Gross Profit was 12591.857 + 3607.017 + 1990.632 + -76.018 = 円18,113 Mil.
Total Current Assets was 円25,073 Mil.
Total Assets was 円63,865 Mil.
Property, Plant and Equipment(Net PPE) was 円18,125 Mil.
Depreciation, Depletion and Amortization(DDA) was 円1,973 Mil.
Selling, General, & Admin. Expense(SGA) was 円6,221 Mil.
Total Current Liabilities was 円11,030 Mil.
Long-Term Debt & Capital Lease Obligation was 円18,358 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) |
| = | (4970.86 / 28712.193) | / | (16589.145 / 26852.429) |
| = | 0.173127 | / | 0.617789 |
| | = | 0.2802 |
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) |
| = | (18113.488 / 26852.429) | / | (17218.715 / 28712.193) |
| = | 0.674557 | / | 0.5997 |
| | = | 1.1248 |
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 - (27225.082 + 17358.317) / 69464.013) | / | (1 - (25072.713 + 18125.415) / 63865.2) |
| = | 0.35818 | / | 0.323605 |
| | = | 1.1068 |
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 |
| = | 28712.193 | / | 26852.429 |
| | = | 1.0693 |
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)) |
| = | (1973.379 / (1973.379 + 18125.415)) | / | (2433.182 / (2433.182 + 17358.317)) |
| = | 0.098184 | / | 0.122941 |
| | = | 0.7986 |
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) |
| = | (7256.194 / 28712.193) | / | (6220.617 / 26852.429) |
| = | 0.252722 | / | 0.231659 |
| | = | 1.0909 |
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) |
| = | ((19634.447 + 8617.088) / 69464.013) | / | ((18357.797 + 11030.403) / 63865.2) |
| = | 0.406707 | / | 0.46016 |
| | = | 0.8838 |
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 |
| = | (3035.833 - 0 | - | 12420.969) | / | 69464.013 |
| | = | -0.135108 |
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.
PeptiDream has a M-score of -3.60 suggests that the company is unlikely to be a manipulator.
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