Amarins PCL Beneish M-Score Historical Data
The historical data trend for Amarins PCL'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.
Amarins PCL Beneish M-Score Chart
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Amarins PCL Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.66 |
-3.27 |
-2.88 |
-2.61 |
-2.84 |
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Amarins PCL 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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-2.71 |
-3.01 |
-2.84 |
-2.84 |
-2.90 |
Competitive Comparison of Amarins PCL's Beneish M-Score
For the Publishing subindustry, Amarins PCL'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.
Amarins PCL's Beneish M-Score Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Amarins PCL's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Amarins PCL's Beneish M-Score falls into.
Amarins PCL 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 Amarins PCL 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 * 0.9243 | + | 0.528 * 1.1819 | + | 0.404 * 0.8458 | + | 0.892 * 1.0021 | + | 0.115 * 1.0093 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0055 | + | 4.679 * -0.086915 | - | 0.327 * 0.9456 |
| = | -2.90 |
* 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 ฿547 Mil.
Revenue was 935.045 + 1165.46 + 1055.048 + 941.708 = ฿4,097 Mil.
Gross Profit was 222.129 + 300.263 + 286.344 + 238.598 = ฿1,047 Mil.
Total Current Assets was ฿2,092 Mil.
Total Assets was ฿6,005 Mil.
Property, Plant and Equipment(Net PPE) was ฿1,565 Mil.
Depreciation, Depletion and Amortization(DDA) was ฿600 Mil.
Selling, General, & Admin. Expense(SGA) was ฿968 Mil.
Total Current Liabilities was ฿947 Mil.
Long-Term Debt & Capital Lease Obligation was ฿58 Mil.
Net Income was 25.212 + 78.139 + 83.876 + 41.801 = ฿229 Mil.
Non Operating Income was 1.344 + 6.306 + 3.279 + 3.607 = ฿15 Mil.
Cash Flow from Operations was 144.848 + 79.043 + 327.714 + 184.839 = ฿736 Mil.
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Total Receivables was ฿591 Mil.
Revenue was 956.654 + 1154.91 + 1066.081 + 911.077 = ฿4,089 Mil.
Gross Profit was 285.15 + 318.221 + 335.492 + 296.436 = ฿1,235 Mil.
Total Current Assets was ฿1,959 Mil.
Total Assets was ฿6,134 Mil.
Property, Plant and Equipment(Net PPE) was ฿1,340 Mil.
Depreciation, Depletion and Amortization(DDA) was ฿520 Mil.
Selling, General, & Admin. Expense(SGA) was ฿961 Mil.
Total Current Liabilities was ฿1,019 Mil.
Long-Term Debt & Capital Lease Obligation was ฿67 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) |
| = | (547.29 / 4097.261) | / | (590.893 / 4088.722) |
| = | 0.133575 | / | 0.144518 |
| | = | 0.9243 |
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) |
| = | (1235.299 / 4088.722) | / | (1047.334 / 4097.261) |
| = | 0.302123 | / | 0.255618 |
| | = | 1.1819 |
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 - (2092.407 + 1564.879) / 6005.325) | / | (1 - (1958.85 + 1339.51) / 6133.914) |
| = | 0.390993 | / | 0.462275 |
| | = | 0.8458 |
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 |
| = | 4097.261 | / | 4088.722 |
| | = | 1.0021 |
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)) |
| = | (520.155 / (520.155 + 1339.51)) | / | (599.909 / (599.909 + 1564.879)) |
| = | 0.279704 | / | 0.277121 |
| | = | 1.0093 |
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) |
| = | (967.839 / 4097.261) | / | (960.545 / 4088.722) |
| = | 0.236216 | / | 0.234925 |
| | = | 1.0055 |
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) |
| = | ((57.805 + 947.133) / 6005.325) | / | ((66.926 + 1018.536) / 6133.914) |
| = | 0.167341 | / | 0.176961 |
| | = | 0.9456 |
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 |
| = | (229.028 - 14.536 | - | 736.444) | / | 6005.325 |
| | = | -0.086915 |
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.
Amarins PCL has a M-score of -2.90 suggests that the company is unlikely to be a manipulator.
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