Cell Biotech Co Beneish M-Score Historical Data
The historical data trend for Cell Biotech 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.
Cell Biotech Co Beneish M-Score Chart
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Cell Biotech Co Annual Data
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Dec23 |
| Beneish M-Score |
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-3.18 |
-2.73 |
-2.02 |
-2.91 |
-2.64 |
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Cell Biotech Co Quarterly Data
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Jun19 |
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Mar24 |
| Beneish M-Score |
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-2.05 |
-3.12 |
-2.60 |
-2.64 |
-2.88 |
Competitive Comparison of Cell Biotech Co's Beneish M-Score
For the Biotechnology subindustry, Cell Biotech 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.
Cell Biotech Co's Beneish M-Score Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Cell Biotech Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Cell Biotech Co's Beneish M-Score falls into.
Cell Biotech 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 Cell Biotech 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 * 0.9522 | + | 0.528 * 1.0369 | + | 0.404 * 0.4148 | + | 0.892 * 1.0528 | + | 0.115 * 0.8967 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0984 | + | 4.679 * -0.027611 | - | 0.327 * 1.0876 |
| = | -2.88 |
* 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 ₩6,418 Mil.
Revenue was 13037.791 + 14842.155 + 13659.84 + 12440.579 = ₩53,980 Mil.
Gross Profit was 9343.318 + 10369.166 + 10064.03 + 9095.468 = ₩38,872 Mil.
Total Current Assets was ₩85,805 Mil.
Total Assets was ₩120,837 Mil.
Property, Plant and Equipment(Net PPE) was ₩32,287 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩3,952 Mil.
Selling, General, & Admin. Expense(SGA) was ₩18,346 Mil.
Total Current Liabilities was ₩8,095 Mil.
Long-Term Debt & Capital Lease Obligation was ₩814 Mil.
Net Income was 3261.207 + 2706.518 + 2961.444 + -2220.804 = ₩6,708 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 3287.572 + 4548.257 + 2686.74 + -477.819 = ₩10,045 Mil.
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Total Receivables was ₩6,403 Mil.
Revenue was 12844.814 + 13805.508 + 12417.878 + 12203.324 = ₩51,272 Mil.
Gross Profit was 9446.072 + 10323.854 + 9114.273 + 9401.009 = ₩38,285 Mil.
Total Current Assets was ₩75,574 Mil.
Total Assets was ₩115,774 Mil.
Property, Plant and Equipment(Net PPE) was ₩33,858 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩3,670 Mil.
Selling, General, & Admin. Expense(SGA) was ₩15,864 Mil.
Total Current Liabilities was ₩7,572 Mil.
Long-Term Debt & Capital Lease Obligation was ₩277 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) |
| = | (6418.375 / 53980.365) | / | (6402.512 / 51271.524) |
| = | 0.118902 | / | 0.124875 |
| | = | 0.9522 |
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) |
| = | (38285.208 / 51271.524) | / | (38871.982 / 53980.365) |
| = | 0.746715 | / | 0.720113 |
| | = | 1.0369 |
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 - (85804.865 + 32286.688) / 120837.022) | / | (1 - (75574.246 + 33857.67) / 115773.891) |
| = | 0.02272 | / | 0.054779 |
| | = | 0.4148 |
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 |
| = | 53980.365 | / | 51271.524 |
| | = | 1.0528 |
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)) |
| = | (3669.555 / (3669.555 + 33857.67)) | / | (3951.846 / (3951.846 + 32286.688)) |
| = | 0.097784 | / | 0.109051 |
| | = | 0.8967 |
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) |
| = | (18346.214 / 53980.365) | / | (15863.78 / 51271.524) |
| = | 0.339868 | / | 0.309407 |
| | = | 1.0984 |
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) |
| = | ((814.192 + 8095.236) / 120837.022) | / | ((276.512 + 7572.251) / 115773.891) |
| = | 0.073731 | / | 0.067794 |
| | = | 1.0876 |
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 |
| = | (6708.365 - 0 | - | 10044.75) | / | 120837.022 |
| | = | -0.027611 |
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.
Cell Biotech Co has a M-score of -2.88 suggests that the company is unlikely to be a manipulator.
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