Silence Therapeutics (Silence Therapeutics) Beneish M-Score : -2.42 (As of May. 19, 2024)

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What is Silence Therapeutics 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.

Good Sign:

Beneish M-Score -2.42 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

SLN' s Beneish M-Score Range Over the Past 10 Years
Min: -4.13 Med: -2.42 Max: -1.6
Current: -2.42

During the past 13 years, the highest Beneish M-Score of Silence Therapeutics was -1.60. The lowest was -4.13. And the median was -2.42.

Silence Therapeutics Beneish M-Score Historical Data

The historical data trend for Silence Therapeutics'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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Silence Therapeutics Beneish M-Score Chart

Silence Therapeutics Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-4.13

-1.60

-2.42

Silence Therapeutics Quarterly Data
	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial															-1.60	-2.55	-1.55	-1.95	-2.42

Competitive Comparison of Silence Therapeutics's Beneish M-Score

For the Biotechnology subindustry, Silence Therapeutics'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.

Silence Therapeutics's Beneish M-Score Distribution in the Biotechnology Industry

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

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

Silence Therapeutics 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 Silence Therapeutics 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 * 0.7776

0.528 * 0.6493

0.404 * 1.4617

0.892 * 1.4514

0.115 * 0.848

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.7351

4.679 * -0.039945

0.327 * 0.9327

-2.42

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $23.84 Mil.
Revenue was 2.657 + 3.463 + 11.495 + 13.803 = $31.42 Mil.
Gross Profit was 0.953 + 1.474 + 7.92 + 8.301 = $18.65 Mil.
Total Current Assets was $102.56 Mil.
Total Assets was $118.76 Mil.
Property, Plant and Equipment(Net PPE) was $2.30 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.62 Mil.
Selling, General, & Admin. Expense(SGA) was $25.63 Mil.
Total Current Liabilities was $22.49 Mil.
Long-Term Debt & Capital Lease Obligation was $0.12 Mil.
Net Income was -18.243 + -10.21 + -13.133 + -12.383 = $-53.97 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was -15.02 + -6.03 + -18.884 + -9.291 = $-49.23 Mil.

Total Receivables was $21.12 Mil.
Revenue was 5.804 + 3.818 + 4.486 + 7.539 = $21.65 Mil.
Gross Profit was 1.104 + 1.106 + 1.59 + 4.542 = $8.34 Mil.
Total Current Assets was $117.77 Mil.
Total Assets was $130.94 Mil.
Property, Plant and Equipment(Net PPE) was $2.68 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.59 Mil.
Selling, General, & Admin. Expense(SGA) was $24.02 Mil.
Total Current Liabilities was $26.73 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 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)
	=	(23.839 / 31.418)	/	(21.123 / 21.647)
	=	0.758769	/	0.975793
	=	0.7776

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)
	=	(8.342 / 21.647)	/	(18.648 / 31.418)
	=	0.385365	/	0.593545
	=	0.6493

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 - (102.558 + 2.295) / 118.762)	/	(1 - (117.766 + 2.681) / 130.938)
	=	0.117117	/	0.080122
	=	1.4617

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
	=	31.418	/	21.647
	=	1.4514

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))
	=	(0.59 / (0.59 + 2.681))	/	(0.62 / (0.62 + 2.295))
	=	0.180373	/	0.212693
	=	0.848

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)
	=	(25.629 / 31.418)	/	(24.021 / 21.647)
	=	0.815743	/	1.109669
	=	0.7351

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)
	=	((0.118 + 22.492) / 118.762)	/	((0 + 26.727) / 130.938)
	=	0.190381	/	0.20412
	=	0.9327

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
	=	(-53.969 - 0	-	-49.225)	/	118.762
	=	-0.039945

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.

Silence Therapeutics has a M-score of -2.42 suggests that the company is unlikely to be a manipulator.

Silence Therapeutics Beneish M-Score Related Terms

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Silence Therapeutics (Silence Therapeutics) Business Description

Industry

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SLNCF:USA XRP2:Germany

Address

72 Hammersmith Road, London, GBR, W14 8TH

Website

https://www.silence-therapeutics.com

Silence Therapeutics PLC is a biotechnology company focused on discovering and developing novel molecules incorporating short-interfering ribonucleic acid. its pipeline products are; SLN360 therapy designed to temporarily block a specific gene's message that would otherwise trigger an unwanted effect. By silencing the LPA gene, the levels of Lp(a) are lowered, which in turn is expected to lower the risk of heart diseases, heart attacks, and strokes, and SLN124 therapy aims to temporarily silence TMPRSS6, a gene that prevents the liver from producing a particular hormone that controls iron levels in the body hepcidin. As hepcidin increases, iron levels in the blood are expected to decrease, which may increase the production of healthy red blood cells, thereby reducing anemia.