BIO-FD&C Co Beneish M-Score Historical Data
The historical data trend for BIO-FD&C 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.
BIO-FD&C Co Beneish M-Score Chart
|
BIO-FD&C Co Annual Data
|
|
Trend |
Dec15 |
Dec16 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
-2.49 |
-2.91 |
- |
- |
-2.25 |
|
BIO-FD&C Co Quarterly Data
|
|
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
-2.67 |
-2.51 |
-2.75 |
-2.13 |
-0.41 |
Competitive Comparison of BIO-FD&C Co's Beneish M-Score
For the Biotechnology subindustry, BIO-FD&C 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.
BIO-FD&C Co's Beneish M-Score Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, BIO-FD&C Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where BIO-FD&C Co's Beneish M-Score falls into.
BIO-FD&C 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 BIO-FD&C 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 | + | 0.528 * 1.0927 | + | 0.404 * 8.482 | + | 0.892 * 1.0827 | + | 0.115 * 0.0436 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 2.0874 | + | 4.679 * 0.006387 | - | 0.327 * 0.6641 |
| = | -0.41 |
* 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 3799.862 + 4740.582 + 3927.599 + 3591.383 = ₩16,059 Mil.
Gross Profit was 2640.21 + 3084.329 + 2905.818 + 2549.842 = ₩11,180 Mil.
Total Current Assets was ₩46,386 Mil.
Total Assets was ₩63,951 Mil.
Property, Plant and Equipment(Net PPE) was ₩0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩633 Mil.
Selling, General, & Admin. Expense(SGA) was ₩2,982 Mil.
Total Current Liabilities was ₩4,136 Mil.
Long-Term Debt & Capital Lease Obligation was ₩0 Mil.
Net Income was 1080.12 + 2350.708 + 1142.441 + 1243.534 = ₩5,817 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 0 + 2312.887 + 1336.942 + 1758.547 = ₩5,408 Mil.
|
Total Receivables was ₩2,483 Mil.
Revenue was 3332.526 + 4095.221 + 2968.755 + 4435.729 = ₩14,832 Mil.
Gross Profit was 2498.39 + 3144.788 + 2222.861 + 3416.969 = ₩11,283 Mil.
Total Current Assets was ₩45,150 Mil.
Total Assets was ₩59,744 Mil.
Property, Plant and Equipment(Net PPE) was ₩12,660 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩577 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,319 Mil.
Total Current Liabilities was ₩5,819 Mil.
Long-Term Debt & Capital Lease Obligation was ₩0 Mil.
|
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 / 16059.426) | / | (2482.954 / 14832.231) |
| = | 0 | / | 0.167403 |
| | = | 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) |
| = | (11283.008 / 14832.231) | / | (11180.199 / 16059.426) |
| = | 0.760709 | / | 0.696177 |
| | = | 1.0927 |
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 - (46386.272 + 0) / 63951.451) | / | (1 - (45149.596 + 12659.955) / 59744.197) |
| = | 0.274664 | / | 0.032382 |
| | = | 8.482 |
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 |
| = | 16059.426 | / | 14832.231 |
| | = | 1.0827 |
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)) |
| = | (576.944 / (576.944 + 12659.955)) | / | (633.085 / (633.085 + 0)) |
| = | 0.043586 | / | 1 |
| | = | 0.0436 |
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) |
| = | (2981.618 / 16059.426) | / | (1319.26 / 14832.231) |
| = | 0.185662 | / | 0.088945 |
| | = | 2.0874 |
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 + 4136.189) / 63951.451) | / | ((0 + 5818.611) / 59744.197) |
| = | 0.064677 | / | 0.097392 |
| | = | 0.6641 |
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 |
| = | (5816.803 - 0 | - | 5408.376) | / | 63951.451 |
| | = | 0.006387 |
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.
BIO-FD&C Co has a M-score of -0.41 signals that the company is likely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
XKRX:251120 has been successfully added to your