Omnicell Beneish M-Score Historical Data
The historical data trend for Omnicell'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.
Omnicell Beneish M-Score Chart
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Omnicell Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.66 |
-3.21 |
-2.53 |
-2.46 |
-3.01 |
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Omnicell Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
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-2.46 |
-2.65 |
-3.01 |
-3.22 |
-3.01 |
Competitive Comparison of Omnicell's Beneish M-Score
For the Health Information Services subindustry, Omnicell'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.
Omnicell's Beneish M-Score Distribution in the Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Omnicell's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Omnicell's Beneish M-Score falls into.
Omnicell 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 Omnicell 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 * 0.9508 | + | 0.528 * 1.0493 | + | 0.404 * 0.9669 | + | 0.892 * 0.8852 | + | 0.115 * 1.0287 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0095 | + | 4.679 * -0.09047 | - | 0.327 * 0.9322 |
| = | -3.01 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $252 Mil.
Revenue was 258.847 + 298.663 + 298.973 + 290.629 = $1,147 Mil.
Gross Profit was 105.404 + 131.964 + 134.443 + 125.029 = $497 Mil.
Total Current Assets was $928 Mil.
Total Assets was $2,227 Mil.
Property, Plant and Equipment(Net PPE) was $134 Mil.
Depreciation, Depletion and Amortization(DDA) was $96 Mil.
Selling, General, & Admin. Expense(SGA) was $435 Mil.
Total Current Liabilities was $368 Mil.
Long-Term Debt & Capital Lease Obligation was $604 Mil.
Net Income was -14.375 + 5.553 + 3.451 + -15 = $-20 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 38.414 + 57.007 + 72.903 + 12.77 = $181 Mil.
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Total Receivables was $299 Mil.
Revenue was 297.674 + 348.059 + 331.386 + 318.828 = $1,296 Mil.
Gross Profit was 121.753 + 159.095 + 158.092 + 150.047 = $589 Mil.
Total Current Assets was $882 Mil.
Total Assets was $2,211 Mil.
Property, Plant and Equipment(Net PPE) was $132 Mil.
Depreciation, Depletion and Amortization(DDA) was $99 Mil.
Selling, General, & Admin. Expense(SGA) was $486 Mil.
Total Current Liabilities was $428 Mil.
Long-Term Debt & Capital Lease Obligation was $606 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) |
| = | (252.025 / 1147.112) | / | (299.469 / 1295.947) |
| = | 0.219704 | / | 0.231081 |
| | = | 0.9508 |
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) |
| = | (588.987 / 1295.947) | / | (496.84 / 1147.112) |
| = | 0.454484 | / | 0.433122 |
| | = | 1.0493 |
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 - (927.571 + 133.589) / 2226.878) | / | (1 - (881.812 + 132.013) / 2210.758) |
| = | 0.523476 | / | 0.541413 |
| | = | 0.9669 |
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 |
| = | 1147.112 | / | 1295.947 |
| | = | 0.8852 |
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)) |
| = | (99.169 / (99.169 + 132.013)) | / | (95.558 / (95.558 + 133.589)) |
| = | 0.428965 | / | 0.417016 |
| | = | 1.0287 |
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) |
| = | (434.593 / 1147.112) | / | (486.341 / 1295.947) |
| = | 0.378858 | / | 0.375278 |
| | = | 1.0095 |
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) |
| = | ((603.572 + 367.792) / 2226.878) | / | ((605.976 + 428.446) / 2210.758) |
| = | 0.4362 | / | 0.467904 |
| | = | 0.9322 |
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 |
| = | (-20.371 - 0 | - | 181.094) | / | 2226.878 |
| | = | -0.09047 |
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.
Omnicell has a M-score of -3.01 suggests that the company is unlikely to be a manipulator.
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