Gencurix Beneish M-Score Historical Data
The historical data trend for Gencurix'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.
Gencurix Beneish M-Score Chart
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Gencurix Annual Data
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Trend |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
-4.99 |
-6.37 |
-3.44 |
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Gencurix Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-6.11 |
-4.81 |
-4.91 |
-3.44 |
-4.18 |
Competitive Comparison of Gencurix's Beneish M-Score
For the Diagnostics & Research subindustry, Gencurix'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.
Gencurix's Beneish M-Score Distribution in the Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, Gencurix's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Gencurix's Beneish M-Score falls into.
Gencurix 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 Gencurix 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 | + | 0.528 * 0.8494 | + | 0.404 * 1.6064 | + | 0.892 * 1.3097 | + | 0.115 * 0.0743 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.5659 | + | 4.679 * -0.254379 | - | 0.327 * 0.4715 |
| = | -4.18 |
* 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 Mil.
Revenue was 815.961 + 577.758 + 957.743 + 545.622 = ₩2,897 Mil.
Gross Profit was 568.162 + 192.061 + 636.532 + 269.991 = ₩1,667 Mil.
Total Current Assets was ₩11,131 Mil.
Total Assets was ₩33,124 Mil.
Property, Plant and Equipment(Net PPE) was ₩0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,030 Mil.
Selling, General, & Admin. Expense(SGA) was ₩5,419 Mil.
Total Current Liabilities was ₩15,072 Mil.
Long-Term Debt & Capital Lease Obligation was ₩0 Mil.
Net Income was -3233.537 + -3393.54 + -3565.756 + -6164.52 = ₩-16,357 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 0 + -2535.796 + -2573.919 + -2821.668 = ₩-7,931 Mil.
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Total Receivables was ₩1,280 Mil.
Revenue was 519.195 + 677.352 + 480.298 + 535.203 = ₩2,212 Mil.
Gross Profit was 249.655 + 265.634 + 256.831 + 308.869 = ₩1,081 Mil.
Total Current Assets was ₩4,378 Mil.
Total Assets was ₩31,129 Mil.
Property, Plant and Equipment(Net PPE) was ₩13,885 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,115 Mil.
Selling, General, & Admin. Expense(SGA) was ₩2,642 Mil.
Total Current Liabilities was ₩26,103 Mil.
Long-Term Debt & Capital Lease Obligation was ₩3,939 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 / 2897.084) | / | (1279.649 / 2212.048) |
| = | 0 | / | 0.578491 |
| | = | 0 |
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) |
| = | (1080.989 / 2212.048) | / | (1666.746 / 2897.084) |
| = | 0.488682 | / | 0.575318 |
| | = | 0.8494 |
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 - (11130.685 + 0) / 33123.739) | / | (1 - (4377.759 + 13884.827) / 31129.204) |
| = | 0.663967 | / | 0.413329 |
| | = | 1.6064 |
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 |
| = | 2897.084 | / | 2212.048 |
| | = | 1.3097 |
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)) |
| = | (1115.223 / (1115.223 + 13884.827)) | / | (1029.922 / (1029.922 + 0)) |
| = | 0.074348 | / | 1 |
| | = | 0.0743 |
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) |
| = | (5419.203 / 2897.084) | / | (2642.457 / 2212.048) |
| = | 1.870572 | / | 1.194575 |
| | = | 1.5659 |
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 + 15072.376) / 33123.739) | / | ((3938.697 + 26102.694) / 31129.204) |
| = | 0.455032 | / | 0.965055 |
| | = | 0.4715 |
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 |
| = | (-16357.353 - 0 | - | -7931.383) | / | 33123.739 |
| | = | -0.254379 |
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.
Gencurix has a M-score of -4.18 suggests that the company is unlikely to be a manipulator.
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