Eris Lifesciences Beneish M-Score Historical Data
The historical data trend for Eris Lifesciences'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.
Eris Lifesciences Beneish M-Score Chart
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Eris Lifesciences Annual Data
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Mar24 |
| Beneish M-Score |
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-1.61 |
-2.45 |
-2.27 |
-2.33 |
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Eris Lifesciences Quarterly Data
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Jun19 |
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| Beneish M-Score |
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-2.33 |
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Competitive Comparison of Eris Lifesciences's Beneish M-Score
For the Drug Manufacturers - Specialty & Generic subindustry, Eris Lifesciences'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.
Eris Lifesciences's Beneish M-Score Distribution in the Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Eris Lifesciences's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Eris Lifesciences's Beneish M-Score falls into.
Eris Lifesciences 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 Eris Lifesciences 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 * 1.1822 | + | 0.528 * 0.9738 | + | 0.404 * 0.8701 | + | 0.892 * 1.1983 | + | 0.115 * 0.9159 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0 | + | 4.679 * -0.013339 | - | 0.327 * 1.4886 |
| = | -2.26 |
* 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 ₹4,276 Mil.
Revenue was ₹19,913 Mil.
Gross Profit was ₹16,113 Mil.
Total Current Assets was ₹23,021 Mil.
Total Assets was ₹70,488 Mil.
Property, Plant and Equipment(Net PPE) was ₹5,237 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1,826 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹25,321 Mil.
Long-Term Debt & Capital Lease Obligation was ₹6,915 Mil.
Net Income was ₹3,920 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹4,860 Mil.
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Total Receivables was ₹3,018 Mil.
Revenue was ₹16,618 Mil.
Gross Profit was ₹13,095 Mil.
Total Current Assets was ₹7,647 Mil.
Total Assets was ₹36,673 Mil.
Property, Plant and Equipment(Net PPE) was ₹3,774 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1,171 Mil.
Selling, General, & Admin. Expense(SGA) was ₹1,862 Mil.
Total Current Liabilities was ₹4,432 Mil.
Long-Term Debt & Capital Lease Obligation was ₹6,834 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) |
| = | (4275.83 / 19912.95) | / | (3018.29 / 16618.16) |
| = | 0.214726 | / | 0.181626 |
| | = | 1.1822 |
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) |
| = | (13094.66 / 16618.16) | / | (16112.51 / 19912.95) |
| = | 0.787973 | / | 0.809147 |
| | = | 0.9738 |
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 - (23020.73 + 5236.53) / 70488.37) | / | (1 - (7647.22 + 3773.78) / 36673.28) |
| = | 0.599122 | / | 0.688574 |
| | = | 0.8701 |
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 |
| = | 19912.95 | / | 16618.16 |
| | = | 1.1983 |
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)) |
| = | (1170.88 / (1170.88 + 3773.78)) | / | (1826.05 / (1826.05 + 5236.53)) |
| = | 0.236797 | / | 0.258553 |
| | = | 0.9159 |
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 / 19912.95) | / | (1861.77 / 16618.16) |
| = | 0 | / | 0.112032 |
| | = | 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) |
| = | ((6915.26 + 25320.77) / 70488.37) | / | ((6834.21 + 4432.33) / 36673.28) |
| = | 0.457324 | / | 0.307214 |
| | = | 1.4886 |
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 |
| = | (3919.83 - 0 | - | 4860.06) | / | 70488.37 |
| | = | -0.013339 |
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.
Eris Lifesciences has a M-score of -2.26 suggests that the company is unlikely to be a manipulator.
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