BGI Genomics Co Beneish M-Score Historical Data
The historical data trend for BGI Genomics 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.
BGI Genomics Co Beneish M-Score Chart
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BGI Genomics Co Annual Data
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Trend |
Dec14 |
Dec15 |
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Dec17 |
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Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.23 |
-2.38 |
-3.03 |
-1.35 |
-2.83 |
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BGI Genomics Co Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
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Sep21 |
Dec21 |
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Mar23 |
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Dec23 |
Mar24 |
| Beneish M-Score |
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-2.26 |
-2.25 |
-2.44 |
-2.83 |
-2.38 |
Competitive Comparison of BGI Genomics Co's Beneish M-Score
For the Diagnostics & Research subindustry, BGI Genomics 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.
BGI Genomics Co's Beneish M-Score Distribution in the Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, BGI Genomics Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where BGI Genomics Co's Beneish M-Score falls into.
BGI Genomics 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 BGI Genomics 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 * 1.5605 | + | 0.528 * 0.9808 | + | 0.404 * 1.0071 | + | 0.892 * 0.6409 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9954 | + | 4.679 * -0.018375 | - | 0.327 * 1.0119 |
| = | -2.38 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was ¥1,631 Mil.
Revenue was 821.25 + 1206.185 + 1072.585 + 1115.98 = ¥4,216 Mil.
Gross Profit was 404.016 + 652.638 + 566.551 + 520.771 = ¥2,144 Mil.
Total Current Assets was ¥7,848 Mil.
Total Assets was ¥13,457 Mil.
Property, Plant and Equipment(Net PPE) was ¥3,138 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥1,121 Mil.
Total Current Liabilities was ¥3,085 Mil.
Long-Term Debt & Capital Lease Obligation was ¥301 Mil.
Net Income was 12.403 + 22.548 + 18.608 + 10.531 = ¥64 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was -75.937 + 226.642 + 174.013 + -13.355 = ¥311 Mil.
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Total Receivables was ¥1,631 Mil.
Revenue was 954.887 + 2535.648 + 1356.169 + 1731.197 = ¥6,578 Mil.
Gross Profit was 430.647 + 1209.296 + 767.843 + 873.187 = ¥3,281 Mil.
Total Current Assets was ¥8,948 Mil.
Total Assets was ¥13,674 Mil.
Property, Plant and Equipment(Net PPE) was ¥2,232 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥1,758 Mil.
Total Current Liabilities was ¥3,279 Mil.
Long-Term Debt & Capital Lease Obligation was ¥121 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) |
| = | (1631.496 / 4216) | / | (1631.167 / 6577.901) |
| = | 0.386977 | / | 0.247977 |
| | = | 1.5605 |
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) |
| = | (3280.973 / 6577.901) | / | (2143.976 / 4216) |
| = | 0.498787 | / | 0.508533 |
| | = | 0.9808 |
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 - (7847.995 + 3137.795) / 13457.043) | / | (1 - (8948.074 + 2232.463) / 13673.807) |
| = | 0.18364 | / | 0.182339 |
| | = | 1.0071 |
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 |
| = | 4216 | / | 6577.901 |
| | = | 0.6409 |
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)) |
| = | (0 / (0 + 2232.463)) | / | (0 / (0 + 3137.795)) |
| = | 0 | / | 0 |
| | = | 1 |
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) |
| = | (1121.273 / 4216) | / | (1757.54 / 6577.901) |
| = | 0.265957 | / | 0.267189 |
| | = | 0.9954 |
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) |
| = | ((300.993 + 3084.703) / 13457.043) | / | ((121.11 + 3278.575) / 13673.807) |
| = | 0.251593 | / | 0.248628 |
| | = | 1.0119 |
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 |
| = | (64.09 - 0 | - | 311.363) | / | 13457.043 |
| | = | -0.018375 |
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.
BGI Genomics Co has a M-score of -2.38 suggests that the company is unlikely to be a manipulator.
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