S Biomedics Co Beneish M-Score Historical Data
The historical data trend for S Biomedics 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.
S Biomedics Co Beneish M-Score Chart
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S Biomedics Co Annual Data
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Trend |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-3.23 |
-3.32 |
5.71 |
-3.12 |
-3.29 |
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S Biomedics Co Quarterly Data
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Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
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Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-3.12 |
-2.89 |
-3.89 |
-3.02 |
-3.29 |
Competitive Comparison of S Biomedics Co's Beneish M-Score
For the Biotechnology subindustry, S Biomedics 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.
S Biomedics Co's Beneish M-Score Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, S Biomedics Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where S Biomedics Co's Beneish M-Score falls into.
S Biomedics 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 S Biomedics 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 * 0.8849 | + | 0.528 * 1.0237 | + | 0.404 * 0.689 | + | 0.892 * 1.0477 | + | 0.115 * 0.857 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9267 | + | 4.679 * -0.133772 | - | 0.327 * 1.0157 |
| = | -3.29 |
* 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 ₩2,050 Mil.
Revenue was 4449.801 + 3378.274 + 3299.397 + 2606.555 = ₩13,734 Mil.
Gross Profit was 1907.249 + 1755.826 + 1801.717 + 1242.643 = ₩6,707 Mil.
Total Current Assets was ₩29,272 Mil.
Total Assets was ₩44,601 Mil.
Property, Plant and Equipment(Net PPE) was ₩4,475 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,725 Mil.
Selling, General, & Admin. Expense(SGA) was ₩2,793 Mil.
Total Current Liabilities was ₩11,770 Mil.
Long-Term Debt & Capital Lease Obligation was ₩9,438 Mil.
Net Income was -1954.742 + -1611.095 + -4018.003 + -1882.438 = ₩-9,466 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was -487.029 + -1115.597 + -662.28 + -1235.05 = ₩-3,500 Mil.
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Total Receivables was ₩2,211 Mil.
Revenue was 3738.408 + 2256.827 + 4096.599 + 3016.545 = ₩13,108 Mil.
Gross Profit was 1842.987 + 1027.539 + 2316.801 + 1366.397 = ₩6,554 Mil.
Total Current Assets was ₩15,700 Mil.
Total Assets was ₩31,947 Mil.
Property, Plant and Equipment(Net PPE) was ₩4,962 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,553 Mil.
Selling, General, & Admin. Expense(SGA) was ₩2,876 Mil.
Total Current Liabilities was ₩7,652 Mil.
Long-Term Debt & Capital Lease Obligation was ₩7,305 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) |
| = | (2049.613 / 13734.027) | / | (2210.728 / 13108.379) |
| = | 0.149236 | / | 0.16865 |
| | = | 0.8849 |
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) |
| = | (6553.724 / 13108.379) | / | (6707.435 / 13734.027) |
| = | 0.499964 | / | 0.488381 |
| | = | 1.0237 |
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 - (29271.504 + 4474.954) / 44600.755) | / | (1 - (15700.412 + 4961.851) / 31947.219) |
| = | 0.243366 | / | 0.353238 |
| | = | 0.689 |
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 |
| = | 13734.027 | / | 13108.379 |
| | = | 1.0477 |
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)) |
| = | (1553.45 / (1553.45 + 4961.851)) | / | (1724.889 / (1724.889 + 4474.954)) |
| = | 0.238431 | / | 0.278215 |
| | = | 0.857 |
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) |
| = | (2792.699 / 13734.027) | / | (2876.258 / 13108.379) |
| = | 0.203342 | / | 0.219421 |
| | = | 0.9267 |
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) |
| = | ((9438.361 + 11769.801) / 44600.755) | / | ((7304.855 + 7652.118) / 31947.219) |
| = | 0.475511 | / | 0.468178 |
| | = | 1.0157 |
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 |
| = | (-9466.278 - 0 | - | -3499.956) | / | 44600.755 |
| | = | -0.133772 |
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.
S Biomedics Co has a M-score of -3.29 suggests that the company is unlikely to be a manipulator.
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