CTLT has been successfully added to your Stock Email Alerts list.
You can manage your stock email alerts here.
CTLT has been removed from your Stock Email Alerts list.
Please enter Portfolio Name for new portfolio.
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.
Good Sign:
Beneish M-Score -2.77 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Catalent's Beneish M-Score or its related term are showing as below:
During the past 13 years, the highest Beneish M-Score of Catalent was -2.01. The lowest was -2.77. And the median was -2.40.
The historical data trend for Catalent'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.
Catalent Annual Data | |||||||||||||||||||||
Trend | Jun14 | Jun15 | Jun16 | Jun17 | Jun18 | Jun19 | Jun20 | Jun21 | Jun22 | Jun23 | |||||||||||
Beneish M-Score | Get a 7-Day Free Trial | -2.20 | -2.37 | -2.24 | -2.26 | -2.49 |
Catalent Quarterly Data | ||||||||||||||||||||
Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
Beneish M-Score | Get a 7-Day Free Trial | -2.18 | -2.49 | -2.58 | -2.50 | -2.77 |
For the Drug Manufacturers - Specialty & Generic subindustry, Catalent'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.
For the Drug Manufacturers industry and Healthcare sector, Catalent's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Catalent's Beneish M-Score falls into.
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 Catalent 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 * 0.9723 | + | 0.528 * 1.5101 | + | 0.404 * 0.8979 | + | 0.892 * 0.9199 | + | 0.115 * 0.8899 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 1.1493 | + | 4.679 * -0.073186 | - | 0.327 * 1.1329 | |||||||
= | -2.77 |
* 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 $1,406 Mil. Revenue was 1074 + 1024 + 982 + 1055 = $4,135 Mil. Gross Profit was 229 + 171 + 169 + 215 = $784 Mil. Total Current Assets was $2,523 Mil. Total Assets was $9,879 Mil. Property, Plant and Equipment(Net PPE) was $3,735 Mil. Depreciation, Depletion and Amortization(DDA) was $473 Mil. Selling, General, & Admin. Expense(SGA) was $886 Mil. Total Current Liabilities was $1,007 Mil. Long-Term Debt & Capital Lease Obligation was $4,933 Mil. Net Income was -101 + -206 + -759 + -110 = $-1,176 Mil. Non Operating Income was -4 + -2 + -702 + 5 = $-703 Mil. Cash Flow from Operations was 12 + 112 + -70 + 196 = $250 Mil. |
Total Receivables was $1,572 Mil. Revenue was 1037 + 1149 + 1022 + 1287 = $4,495 Mil. Gross Profit was 180 + 387 + 258 + 462 = $1,287 Mil. Total Current Assets was $2,738 Mil. Total Assets was $10,830 Mil. Property, Plant and Equipment(Net PPE) was $3,671 Mil. Depreciation, Depletion and Amortization(DDA) was $408 Mil. Selling, General, & Admin. Expense(SGA) was $838 Mil. Total Current Liabilities was $1,487 Mil. Long-Term Debt & Capital Lease Obligation was $4,261 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) |
= | (1406 / 4135) | / | (1572 / 4495) | |
= | 0.340024 | / | 0.349722 | |
= | 0.9723 |
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) | |
= | (1287 / 4495) | / | (784 / 4135) | |
= | 0.286318 | / | 0.189601 | |
= | 1.5101 |
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 - (2523 + 3735) / 9879) | / | (1 - (2738 + 3671) / 10830) | |
= | 0.366535 | / | 0.408218 | |
= | 0.8979 |
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 | |
= | 4135 | / | 4495 | |
= | 0.9199 |
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)) |
= | (408 / (408 + 3671)) | / | (473 / (473 + 3735)) | |
= | 0.100025 | / | 0.112405 | |
= | 0.8899 |
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) |
= | (886 / 4135) | / | (838 / 4495) | |
= | 0.214268 | / | 0.186429 | |
= | 1.1493 |
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) |
= | ((4933 + 1007) / 9879) | / | ((4261 + 1487) / 10830) | |
= | 0.601275 | / | 0.530748 | |
= | 1.1329 |
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 | |
= | (-1176 - -703 | - | 250) | / | 9879 | |
= | -0.073186 |
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.
Catalent has a M-score of -2.77 suggests that the company is unlikely to be a manipulator.
Thank you for viewing the detailed overview of Catalent's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
David Mcerlane | officer: Group President, Biologics | C/O CATALENT, INC., 14 SCHOOLHOUSE ROAD, SOMERSET NJ 08873 |
Steven Barg | director | ELLIOTT MANAGEMENT CORPORATION, 40 WEST 57TH STREET, NEW YORK NY 10019 |
Michelle R Ryan | director | 214 PARK BLVD S, VENICE FL 34285 |
John J Greisch | director | C/O CATALENT, INC., 14 SCHOOLHOUSE ROAD, SOMERSET NJ 08873 |
Stephanie Okey | director | C/O ALBIREO PHARMA, INC., 10 POST OFFICE SQUARE, SUITE 502 SOUTH, BOSTON MA 02109 |
Frank A Damelio | director | C/O PFIZER INC., 235 EAST 42ND ST., NEW YORK NY 10017 |
Aristippos Gennadios | officer: See Remarks | C/O CATALENT, INC., 14 SCHOOLHOUSE ROAD, SOMERSET NJ 08873 |
Thomas W Hawkeswood | officer: Pres. Pharma Prod Delivery Div | C/O CATALENT, INC., 14 SCHOOLHOUSE ROAD, SOMERSET NJ 08873 |
Patricia Hunt | officer: Pres. Consumer Health Div | C/O CATALENT, 14 SCHOOLHOUSE ROAD, SOMERSET NJ 08873 |
Ricky Hopson | officer: VP, Chief Accounting Officer | CATALENT, INC., 14 SCHOOLHOUSE ROAD, SOMERSET NJ 08873 |
Lorenzo Carletti | officer: SVP Global Ops Small Molecule | C/O CATALENT, INC., 14 SCHOOLHOUSE ROAD, SOMERSET NJ 08873 |
Ricardo Pravda | officer: SVP, Human Resources | C/O CATALENT, INC., 14 SCHOOLHOUSE ROAD, SOMERSET NJ 08873 |
Alessandro Maselli | officer: See remarks | C/O CATALENT, INC., 14 SCHOOLHOUSE ROAD, SOMERSET NJ 08873 |
Charles Lickfold | officer: SVP, CIO | C/O CATALENT, INC., 14 SCHOOLHOUSE ROAD, SOMERSET NJ 08873 |
Scott Gunther | officer: See Remarks | C/O CATALENT, INC., 14 SCHOOLHOUSE ROAD, SOMERSET NJ 08873 |
From GuruFocus
By GuruFocus Research • 01-22-2024
By GuruFocus Research • 01-22-2024
By GuruFocus Research • 01-22-2024
By GuruFocus Research • 01-22-2024
By GuruFocus Research • 01-22-2024
By GuruFocus Research • 01-22-2024
By GuruFocus Research • 01-22-2024
By GuruFocus Research • 01-22-2024
By GuruFocus Research • 01-22-2024
By GuruFocus Research • 01-22-2024
Disclaimers: GuruFocus.com is not operated by a broker or a dealer. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. This investment adviser does not provide advice to individual investors. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.