Vir Biotechnology Beneish M-Score Historical Data
The historical data trend for Vir Biotechnology'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.
Vir Biotechnology Beneish M-Score Chart
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Vir Biotechnology Annual Data
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Trend |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
80.49 |
12.59 |
-4.91 |
-9.64 |
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Vir Biotechnology Quarterly Data
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Jun19 |
Sep19 |
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Mar21 |
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Mar23 |
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Mar24 |
| Beneish M-Score |
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-6.88 |
-4.48 |
-10.47 |
-9.64 |
-2.31 |
Competitive Comparison of Vir Biotechnology's Beneish M-Score
For the Biotechnology subindustry, Vir Biotechnology'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.
Vir Biotechnology's Beneish M-Score Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Vir Biotechnology's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Vir Biotechnology's Beneish M-Score falls into.
Vir Biotechnology 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 Vir Biotechnology 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 | + | 0.528 * 0.872 | + | 0.404 * 5.0905 | + | 0.892 * 0.1107 | + | 0.115 * 0.5477 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 8.8858 | + | 4.679 * 0.133176 | - | 0.327 * 0.4978 |
| = | -2.31 |
* 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 $0.00 Mil.
Revenue was 51.204 + 9.602 + -4.098 + -12.722 = $43.99 Mil.
Gross Profit was 51.145 + 8.804 + -4.136 + -12.744 = $43.07 Mil.
Total Current Assets was $1,213.10 Mil.
Total Assets was $1,793.97 Mil.
Property, Plant and Equipment(Net PPE) was $162.82 Mil.
Depreciation, Depletion and Amortization(DDA) was $18.33 Mil.
Selling, General, & Admin. Expense(SGA) was $167.54 Mil.
Total Current Liabilities was $94.07 Mil.
Long-Term Debt & Capital Lease Obligation was $109.17 Mil.
Net Income was -65.276 + -115.973 + -163.413 + -194.775 = $-539.44 Mil.
Non Operating Income was -6.202 + -2.477 + -1.825 + -5.453 = $-15.96 Mil.
Cash Flow from Operations was -109.39 + -107.927 + -155.829 + -389.247 = $-762.39 Mil.
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Total Receivables was $0.00 Mil.
Revenue was 46.712 + 21.789 + 371.432 + -42.687 = $397.25 Mil.
Gross Profit was 44.805 + 15.793 + 349.179 + -70.608 = $339.17 Mil.
Total Current Assets was $2,358.63 Mil.
Total Assets was $2,665.94 Mil.
Property, Plant and Equipment(Net PPE) was $185.26 Mil.
Depreciation, Depletion and Amortization(DDA) was $10.87 Mil.
Selling, General, & Admin. Expense(SGA) was $170.29 Mil.
Total Current Liabilities was $485.29 Mil.
Long-Term Debt & Capital Lease Obligation was $121.46 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) |
| = | (0 / 43.986) | / | (0 / 397.246) |
| = | 0 | / | 0 |
| | = | 1 |
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) |
| = | (339.169 / 397.246) | / | (43.069 / 43.986) |
| = | 0.853801 | / | 0.979152 |
| | = | 0.872 |
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 - (1213.097 + 162.823) / 1793.969) | / | (1 - (2358.634 + 185.263) / 2665.936) |
| = | 0.23303 | / | 0.045777 |
| | = | 5.0905 |
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 |
| = | 43.986 | / | 397.246 |
| | = | 0.1107 |
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)) |
| = | (10.869 / (10.869 + 185.263)) | / | (18.33 / (18.33 + 162.823)) |
| = | 0.055417 | / | 0.101185 |
| | = | 0.5477 |
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) |
| = | (167.544 / 43.986) | / | (170.285 / 397.246) |
| = | 3.80903 | / | 0.428664 |
| | = | 8.8858 |
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) |
| = | ((109.171 + 94.068) / 1793.969) | / | ((121.461 + 485.288) / 2665.936) |
| = | 0.11329 | / | 0.227593 |
| | = | 0.4978 |
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 |
| = | (-539.437 - -15.957 | - | -762.393) | / | 1793.969 |
| | = | 0.133176 |
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.
Vir Biotechnology has a M-score of -2.31 suggests that the company is unlikely to be a manipulator.
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