Khiron Life Sciences (Khiron Life Sciences) Beneish M-Score : 0.00 (As of Jun. 09, 2024)

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What is Khiron Life Sciences Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

The historical rank and industry rank for Khiron Life Sciences's Beneish M-Score or its related term are showing as below:

During the past 10 years, the highest Beneish M-Score of Khiron Life Sciences was 0.00. The lowest was 0.00. And the median was 0.00.

Khiron Life Sciences Beneish M-Score Historical Data

The historical data trend for Khiron Life Sciences'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.

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Khiron Life Sciences Beneish M-Score Chart

Khiron Life Sciences Annual Data

Trend

May12

May13

May14

May15

May16

May17

Dec18

Dec19

Dec20

Dec21

Beneish M-Score

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6.98

-2.68

-2.40

Khiron Life Sciences Quarterly Data
	Nov17	Feb18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22
Beneish M-Score	Get a 7-Day Free Trial															-2.36	-2.40	-2.91	-2.51	-2.57

Competitive Comparison of Khiron Life Sciences's Beneish M-Score

For the Drug Manufacturers - Specialty & Generic subindustry, Khiron Life Sciences'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.

Khiron Life Sciences's Beneish M-Score Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Khiron Life Sciences's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Khiron Life Sciences's Beneish M-Score falls into.

Khiron Life Sciences 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 Khiron Life Sciences for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.7825

0.528 * 2.0307

0.404 * 0.6491

0.892 * 1.3493

0.115 * 0.6635

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.5882

4.679 * -0.050231

0.327 * 2.4522

-2.64

This Year (Sep22) TTM:

Last Year (Sep21) TTM:

Total Receivables was $3.40 Mil.
Revenue was 2.538 + 3.493 + 3.667 + 2.841 = $12.54 Mil.
Gross Profit was 1.239 + 1.838 + 1.181 + 0.914 = $5.17 Mil.
Total Current Assets was $13.74 Mil.
Total Assets was $28.83 Mil.
Property, Plant and Equipment(Net PPE) was $9.86 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.52 Mil.
Selling, General, & Admin. Expense(SGA) was $15.68 Mil.
Total Current Liabilities was $7.21 Mil.
Long-Term Debt & Capital Lease Obligation was $1.00 Mil.
Net Income was -2.681 + -1.696 + -4.275 + -15.236 = $-23.89 Mil.
Non Operating Income was 0.11 + 0.736 + -0.191 + -11.502 = $-10.85 Mil.
Cash Flow from Operations was -3.781 + -1.562 + -2.214 + -4.036 = $-11.59 Mil.

Total Receivables was $3.22 Mil.
Revenue was 2.777 + 2.294 + 2.256 + 1.966 = $9.29 Mil.
Gross Profit was 1.431 + 1.494 + 1.242 + 3.617 = $7.78 Mil.
Total Current Assets was $25.41 Mil.
Total Assets was $52.42 Mil.
Property, Plant and Equipment(Net PPE) was $12.35 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.20 Mil.
Selling, General, & Admin. Expense(SGA) was $19.76 Mil.
Total Current Liabilities was $5.14 Mil.
Long-Term Debt & Capital Lease Obligation was $0.94 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)
	=	(3.402 / 12.539)	/	(3.222 / 9.293)
	=	0.271314	/	0.346713
	=	0.7825

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)
	=	(7.784 / 9.293)	/	(5.172 / 12.539)
	=	0.83762	/	0.412473
	=	2.0307

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 - (13.739 + 9.855) / 28.827)	/	(1 - (25.41 + 12.347) / 52.415)
	=	0.181531	/	0.279653
	=	0.6491

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
	=	12.539	/	9.293
	=	1.3493

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))
	=	(1.199 / (1.199 + 12.347))	/	(1.517 / (1.517 + 9.855))
	=	0.088513	/	0.133398
	=	0.6635

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)
	=	(15.682 / 12.539)	/	(19.758 / 9.293)
	=	1.250658	/	2.126116
	=	0.5882

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)
	=	((1.003 + 7.205) / 28.827)	/	((0.944 + 5.142) / 52.415)
	=	0.284733	/	0.116112
	=	2.4522

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
	=	(-23.888 - -10.847	-	-11.593)	/	28.827
	=	-0.050231

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.

Khiron Life Sciences has a M-score of -2.64 suggests that the company is unlikely to be a manipulator.

Khiron Life Sciences Beneish M-Score Related Terms

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Khiron Life Sciences (Khiron Life Sciences) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Khiron Life Sciences Corp (OTCPK:KHRNF) » Definitions » Beneish M-Score

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Traded in Other Exchanges

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Address

2300 - 500 Burrard Street, Vancouver, BC, CAN, V6C 2B5

Website

https://www.khiron.ca

Khiron Life Sciences Corp is a vertically integrated medical company with core operations in Latin America and Europe, The company's platform leverages medical health clinics and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific, product innovation, and cannabis operations expertise to drive prescriptions and brand loyalty with patients worldwide. The company has a presence in Mexico, Peru, Germany, the United Kingdom, and Brazil.