Sotera Health Co Beneish M-Score Historical Data
The historical data trend for Sotera Health 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.
Sotera Health Co Beneish M-Score Chart
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Sotera Health Co Annual Data
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Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
-2.72 |
-2.61 |
-2.01 |
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Sotera Health Co Quarterly Data
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Dec18 |
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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-2.61 |
-2.70 |
-2.10 |
-2.05 |
-2.01 |
Competitive Comparison of Sotera Health Co's Beneish M-Score
For the Diagnostics & Research subindustry, Sotera Health 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.
Sotera Health Co's Beneish M-Score Distribution in the Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, Sotera Health Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sotera Health Co's Beneish M-Score falls into.
Sotera Health 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 Sotera Health 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 * 1.0782 | + | 0.528 * 1.0089 | + | 0.404 * 0.9546 | + | 0.892 * 1.0454 | + | 0.115 * 1.0992 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9213 | + | 4.679 * 0.072481 | - | 0.327 * 0.9659 |
| = | -2.01 |
* 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 $176 Mil.
Revenue was 310.239 + 263.177 + 255.282 + 220.59 = $1,049 Mil.
Gross Profit was 180.083 + 145.984 + 139.588 + 111.503 = $577 Mil.
Total Current Assets was $557 Mil.
Total Assets was $3,130 Mil.
Property, Plant and Equipment(Net PPE) was $971 Mil.
Depreciation, Depletion and Amortization(DDA) was $158 Mil.
Selling, General, & Admin. Expense(SGA) was $237 Mil.
Total Current Liabilities was $231 Mil.
Long-Term Debt & Capital Lease Obligation was $2,308 Mil.
Net Income was 38.681 + -13.66 + 23.513 + 2.842 = $51 Mil.
Non Operating Income was 4.299 + -35.001 + 2.009 + 0.906 = $-28 Mil.
Cash Flow from Operations was 113.123 + 41.849 + -336.575 + 33.871 = $-148 Mil.
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Total Receivables was $156 Mil.
Revenue was 251.59 + 248.704 + 266.639 + 236.754 = $1,004 Mil.
Gross Profit was 141.72 + 136.013 + 150.396 + 128.875 = $557 Mil.
Total Current Assets was $645 Mil.
Total Assets was $3,118 Mil.
Property, Plant and Equipment(Net PPE) was $801 Mil.
Depreciation, Depletion and Amortization(DDA) was $146 Mil.
Selling, General, & Admin. Expense(SGA) was $246 Mil.
Total Current Liabilities was $792 Mil.
Long-Term Debt & Capital Lease Obligation was $1,826 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) |
| = | (175.519 / 1049.288) | / | (155.717 / 1003.687) |
| = | 0.167274 | / | 0.155145 |
| | = | 1.0782 |
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) |
| = | (557.004 / 1003.687) | / | (577.158 / 1049.288) |
| = | 0.554958 | / | 0.550047 |
| | = | 1.0089 |
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 - (557.244 + 970.951) / 3130.42) | / | (1 - (645.01 + 801.008) / 3117.705) |
| = | 0.511824 | / | 0.536192 |
| | = | 0.9546 |
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 |
| = | 1049.288 | / | 1003.687 |
| | = | 1.0454 |
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)) |
| = | (145.554 / (145.554 + 801.008)) | / | (157.925 / (157.925 + 970.951)) |
| = | 0.153771 | / | 0.139896 |
| | = | 1.0992 |
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) |
| = | (236.667 / 1049.288) | / | (245.714 / 1003.687) |
| = | 0.22555 | / | 0.244811 |
| | = | 0.9213 |
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) |
| = | ((2307.554 + 230.654) / 3130.42) | / | ((1825.647 + 791.567) / 3117.705) |
| = | 0.81082 | / | 0.839468 |
| | = | 0.9659 |
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 |
| = | (51.376 - -27.787 | - | -147.732) | / | 3130.42 |
| | = | 0.072481 |
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.
Sotera Health Co has a M-score of -2.01 suggests that the company is unlikely to be a manipulator.
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