Genxone (WAR:GX1) Beneish M-Score : 0.34 (As of May. 29, 2024)

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What is Genxone Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

Warning Sign:

Beneish M-Score 0.34 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Genxone's Beneish M-Score or its related term are showing as below:

WAR:GX1' s Beneish M-Score Range Over the Past 10 Years
Min: -4.23 Med: -2.01 Max: 73.82
Current: 0.34

During the past 6 years, the highest Beneish M-Score of Genxone was 73.82. The lowest was -4.23. And the median was -2.01.

Genxone Beneish M-Score Historical Data

The historical data trend for Genxone'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.

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Genxone Beneish M-Score Chart

Genxone Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-3.61

-3.20

4.66

Genxone Quarterly Data
	Mar19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial															-1.37	2.93	56.80	4.66	0.34

Competitive Comparison of Genxone's Beneish M-Score

For the Biotechnology subindustry, Genxone'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.

Genxone's Beneish M-Score Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Genxone's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Genxone's Beneish M-Score falls into.

Genxone 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 Genxone for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 3.2019

0.528 * 2.3908

0.404 * 1.2599

0.892 * 0.5065

0.115 * 0.8018

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0

4.679 * 0.031804

0.327 * 0.7139

0.34

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was zł1.32 Mil.
Revenue was 0.324 + 0.556 + 0.367 + 0.766 = zł2.01 Mil.
Gross Profit was 0.065 + 0.241 + -0.094 + 0.202 = zł0.41 Mil.
Total Current Assets was zł8.35 Mil.
Total Assets was zł14.56 Mil.
Property, Plant and Equipment(Net PPE) was zł1.12 Mil.
Depreciation, Depletion and Amortization(DDA) was zł1.43 Mil.
Selling, General, & Admin. Expense(SGA) was zł0.00 Mil.
Total Current Liabilities was zł0.41 Mil.
Long-Term Debt & Capital Lease Obligation was zł0.00 Mil.
Net Income was -0.87 + -0.798 + -1.268 + -0.818 = zł-3.75 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = zł0.00 Mil.
Cash Flow from Operations was -0.673 + -1.02 + -1.151 + -1.373 = zł-4.22 Mil.

Total Receivables was zł0.81 Mil.
Revenue was 0.706 + 1.004 + 0.275 + 1.989 = zł3.97 Mil.
Gross Profit was 0.248 + 0.537 + 0.087 + 1.082 = zł1.95 Mil.
Total Current Assets was zł11.69 Mil.
Total Assets was zł18.66 Mil.
Property, Plant and Equipment(Net PPE) was zł1.80 Mil.
Depreciation, Depletion and Amortization(DDA) was zł1.46 Mil.
Selling, General, & Admin. Expense(SGA) was zł1.38 Mil.
Total Current Liabilities was zł0.74 Mil.
Long-Term Debt & Capital Lease Obligation was zł0.00 Mil.

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)
	=	(1.317 / 2.013)	/	(0.812 / 3.974)
	=	0.654247	/	0.204328
	=	3.2019

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)
	=	(1.954 / 3.974)	/	(0.414 / 2.013)
	=	0.491696	/	0.205663
	=	2.3908

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 - (8.35 + 1.124) / 14.558)	/	(1 - (11.687 + 1.798) / 18.656)
	=	0.349224	/	0.277176
	=	1.2599

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
	=	2.013	/	3.974
	=	0.5065

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))
	=	(1.463 / (1.463 + 1.798))	/	(1.428 / (1.428 + 1.124))
	=	0.448635	/	0.559561
	=	0.8018

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)
	=	(0 / 2.013)	/	(1.378 / 3.974)
	=	0	/	0.346754
	=	0

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)
	=	((0 + 0.41) / 14.558)	/	((0 + 0.736) / 18.656)
	=	0.028163	/	0.039451
	=	0.7139

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
	=	(-3.754 - 0	-	-4.217)	/	14.558
	=	0.031804

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.

Genxone has a M-score of 0.34 signals that the company is likely to be a manipulator.

Genxone Beneish M-Score Related Terms

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Genxone (WAR:GX1) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Genxone SA (WAR:GX1) » Definitions » Beneish M-Score

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Traded in Other Exchanges

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Address

ul. Kobaltowa 6, Zlotniki, Suchy Las, POL, 62-002

Website

https://www.genxone.eu

Genxone SA is a biotechnology company that applies nanopore sequencing technology (third-generation of NGS) to many areas of science and business, including genetic diagnostics and the food industry. It specializes in developing new products and solutions based on the latest technologies of nucleic acid sequencing. The company's services include NANOPORE SEQUENCING that includes Whole Genome Sequencing, Bespoke Analysis, Metagenome Sequencing, Bioinformatic Analysis, 16S and/or ITS Gene Sequencing, and RNA Sequencing; and DIAGNOSTIC TESTS that includes Gastrointestinal Infections Panel, Respiratory Infections Panel, Urogenital Infection Panel, and Nervous System Infection Panel.

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