Y-Biologics Beneish M-Score Historical Data
The historical data trend for Y-Biologics'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.
Y-Biologics Beneish M-Score Chart
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Y-Biologics Annual Data
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Y-Biologics Quarterly Data
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Mar24 |
| Beneish M-Score |
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-4.77 |
Competitive Comparison of Y-Biologics's Beneish M-Score
For the Biotechnology subindustry, Y-Biologics'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.
Y-Biologics's Beneish M-Score Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Y-Biologics's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Y-Biologics's Beneish M-Score falls into.
Y-Biologics 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 Y-Biologics 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 * 0.6935 | + | 0.528 * 0.4166 | + | 0.404 * 0.9473 | + | 0.892 * 1.0436 | + | 0.115 * 0.7117 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.3728 | + | 4.679 * -0.434476 | - | 0.327 * 0.257 |
| = | -4.77 |
* 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 ₩629 Mil.
Revenue was 1142.665 + 616.084 + 2006.839 + 311.577 = ₩4,077 Mil.
Gross Profit was 735.681 + 470.658 + 1723.448 + 196.288 = ₩3,126 Mil.
Total Current Assets was ₩18,560 Mil.
Total Assets was ₩26,818 Mil.
Property, Plant and Equipment(Net PPE) was ₩7,758 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,632 Mil.
Selling, General, & Admin. Expense(SGA) was ₩5,513 Mil.
Total Current Liabilities was ₩3,066 Mil.
Long-Term Debt & Capital Lease Obligation was ₩690 Mil.
Net Income was -1623.868 + -14620.308 + -540.087 + -1976.007 = ₩-18,760 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was -911.295 + -2892.346 + -1894.277 + -1410.764 = ₩-7,109 Mil.
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Total Receivables was ₩869 Mil.
Revenue was 853.857 + 672.759 + 1063.946 + 1316.405 = ₩3,907 Mil.
Gross Profit was 329.163 + 98.161 + 330.006 + 490.747 = ₩1,248 Mil.
Total Current Assets was ₩13,304 Mil.
Total Assets was ₩23,834 Mil.
Property, Plant and Equipment(Net PPE) was ₩10,061 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,420 Mil.
Selling, General, & Admin. Expense(SGA) was ₩14,172 Mil.
Total Current Liabilities was ₩12,821 Mil.
Long-Term Debt & Capital Lease Obligation was ₩165 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) |
| = | (629.17 / 4077.165) | / | (869.408 / 3906.967) |
| = | 0.154316 | / | 0.222528 |
| | = | 0.6935 |
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) |
| = | (1248.077 / 3906.967) | / | (3126.075 / 4077.165) |
| = | 0.319449 | / | 0.766728 |
| | = | 0.4166 |
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 - (18560.227 + 7757.703) / 26817.592) | / | (1 - (13304.174 + 10060.788) / 23833.721) |
| = | 0.018632 | / | 0.019668 |
| | = | 0.9473 |
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 |
| = | 4077.165 | / | 3906.967 |
| | = | 1.0436 |
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)) |
| = | (1419.823 / (1419.823 + 10060.788)) | / | (1631.513 / (1631.513 + 7757.703)) |
| = | 0.123671 | / | 0.173765 |
| | = | 0.7117 |
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) |
| = | (5513.47 / 4077.165) | / | (14171.804 / 3906.967) |
| = | 1.35228 | / | 3.627316 |
| | = | 0.3728 |
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) |
| = | ((689.604 + 3066.184) / 26817.592) | / | ((164.611 + 12821.385) / 23833.721) |
| = | 0.140049 | / | 0.544858 |
| | = | 0.257 |
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 |
| = | (-18760.27 - 0 | - | -7108.682) | / | 26817.592 |
| | = | -0.434476 |
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.
Y-Biologics has a M-score of -4.77 suggests that the company is unlikely to be a manipulator.
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