TiumBio Co Beneish M-Score Historical Data
The historical data trend for TiumBio 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.
TiumBio Co Beneish M-Score Chart
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TiumBio Co Annual Data
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Trend |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
- |
138.01 |
-2.55 |
-3.07 |
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TiumBio Co Quarterly Data
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Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
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Sep22 |
Dec22 |
Mar23 |
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Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-2.55 |
-0.23 |
0.63 |
-1.66 |
-3.07 |
Competitive Comparison of TiumBio Co's Beneish M-Score
For the Biotechnology subindustry, TiumBio 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.
TiumBio Co's Beneish M-Score Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, TiumBio Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where TiumBio Co's Beneish M-Score falls into.
TiumBio 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 TiumBio 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 * 0.7043 | + | 0.528 * 1 | + | 0.404 * 0.1267 | + | 0.892 * 1.3865 | + | 0.115 * 0.9178 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8788 | + | 4.679 * -0.046745 | - | 0.327 * 1.3264 |
| = | -3.07 |
* 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 ₩2,319 Mil.
Revenue was 1482.261 + 1131.771 + 2186.471 + 1991.732 = ₩6,792 Mil.
Gross Profit was 1482.261 + 1131.771 + 2186.471 + 1991.732 = ₩6,792 Mil.
Total Current Assets was ₩58,914 Mil.
Total Assets was ₩107,298 Mil.
Property, Plant and Equipment(Net PPE) was ₩44,721 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩3,799 Mil.
Selling, General, & Admin. Expense(SGA) was ₩7,120 Mil.
Total Current Liabilities was ₩39,340 Mil.
Long-Term Debt & Capital Lease Obligation was ₩16,680 Mil.
Net Income was 3662.544 + -4195.84 + -12684.032 + -7426.355 = ₩-20,644 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was -1805.456 + -3981.324 + -3448.187 + -6393.066 = ₩-15,628 Mil.
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Total Receivables was ₩2,374 Mil.
Revenue was 2360.719 + 1370.588 + 967.288 + 200.18 = ₩4,899 Mil.
Gross Profit was 2360.719 + 1370.588 + 967.288 + 200.18 = ₩4,899 Mil.
Total Current Assets was ₩45,311 Mil.
Total Assets was ₩119,546 Mil.
Property, Plant and Equipment(Net PPE) was ₩42,031 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩3,254 Mil.
Selling, General, & Admin. Expense(SGA) was ₩5,843 Mil.
Total Current Liabilities was ₩23,820 Mil.
Long-Term Debt & Capital Lease Obligation was ₩23,235 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) |
| = | (2318.63 / 6792.235) | / | (2374.318 / 4898.775) |
| = | 0.341365 | / | 0.484676 |
| | = | 0.7043 |
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) |
| = | (4898.775 / 4898.775) | / | (6792.235 / 6792.235) |
| = | 1 | / | 1 |
| | = | 1 |
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 - (58914.024 + 44720.711) / 107298.482) | / | (1 - (45310.767 + 42030.897) / 119546.025) |
| = | 0.034145 | / | 0.269389 |
| | = | 0.1267 |
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 |
| = | 6792.235 | / | 4898.775 |
| | = | 1.3865 |
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)) |
| = | (3253.85 / (3253.85 + 42030.897)) | / | (3798.55 / (3798.55 + 44720.711)) |
| = | 0.071853 | / | 0.07829 |
| | = | 0.9178 |
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) |
| = | (7120.217 / 6792.235) | / | (5843.429 / 4898.775) |
| = | 1.048288 | / | 1.192835 |
| | = | 0.8788 |
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) |
| = | ((16680.158 + 39340.084) / 107298.482) | / | ((23235.388 + 23819.591) / 119546.025) |
| = | 0.522097 | / | 0.393614 |
| | = | 1.3264 |
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 |
| = | (-20643.683 - 0 | - | -15628.033) | / | 107298.482 |
| | = | -0.046745 |
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.
TiumBio Co has a M-score of -3.07 suggests that the company is unlikely to be a manipulator.
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