Revvity Beneish M-Score Historical Data
The historical data trend for Revvity'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.
Revvity Beneish M-Score Chart
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Revvity Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.38 |
-2.10 |
-2.49 |
-2.68 |
-2.12 |
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Revvity Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
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-2.68 |
-2.75 |
-2.64 |
-1.89 |
-2.12 |
Competitive Comparison of Revvity's Beneish M-Score
For the Diagnostics & Research subindustry, Revvity'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.
Revvity's Beneish M-Score Distribution in the Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, Revvity's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Revvity's Beneish M-Score falls into.
Revvity 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 Revvity 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 * 1.2434 | + | 0.528 * 1.0733 | + | 0.404 * 1.0139 | + | 0.892 * 0.8305 | + | 0.115 * 0.9873 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.201 | + | 4.679 * 0.05123 | - | 0.327 * 0.8797 |
| = | -2.12 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $633 Mil.
Revenue was 695.901 + 670.739 + 709.066 + 674.865 = $2,751 Mil.
Gross Profit was 383.478 + 372.516 + 402.331 + 381.366 = $1,540 Mil.
Total Current Assets was $3,001 Mil.
Total Assets was $13,565 Mil.
Property, Plant and Equipment(Net PPE) was $665 Mil.
Depreciation, Depletion and Amortization(DDA) was $432 Mil.
Selling, General, & Admin. Expense(SGA) was $1,020 Mil.
Total Current Liabilities was $1,450 Mil.
Long-Term Debt & Capital Lease Obligation was $3,311 Mil.
Net Income was 78.563 + 9.497 + 35.559 + 569.475 = $693 Mil.
Non Operating Income was -44.533 + -16.092 + -3.255 + -29.213 = $-93 Mil.
Cash Flow from Operations was 196.613 + -33.485 + -135.319 + 63.463 = $91 Mil.
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Total Receivables was $613 Mil.
Revenue was 741.214 + 711.803 + 895.642 + 963.163 = $3,312 Mil.
Gross Profit was 436.33 + 407.044 + 551.716 + 594.74 = $1,990 Mil.
Total Current Assets was $3,289 Mil.
Total Assets was $14,130 Mil.
Property, Plant and Equipment(Net PPE) was $671 Mil.
Depreciation, Depletion and Amortization(DDA) was $427 Mil.
Selling, General, & Admin. Expense(SGA) was $1,023 Mil.
Total Current Liabilities was $1,544 Mil.
Long-Term Debt & Capital Lease Obligation was $4,093 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) |
| = | (632.811 / 2750.571) | / | (612.78 / 3311.822) |
| = | 0.230065 | / | 0.185028 |
| | = | 1.2434 |
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) |
| = | (1989.83 / 3311.822) | / | (1539.691 / 2750.571) |
| = | 0.600826 | / | 0.559771 |
| | = | 1.0733 |
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 - (3001.091 + 664.737) / 13564.665) | / | (1 - (3288.558 + 671.301) / 14129.855) |
| = | 0.729752 | / | 0.719752 |
| | = | 1.0139 |
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 |
| = | 2750.571 | / | 3311.822 |
| | = | 0.8305 |
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)) |
| = | (427 / (427 + 671.301)) | / | (431.769 / (431.769 + 664.737)) |
| = | 0.388782 | / | 0.393768 |
| | = | 0.9873 |
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) |
| = | (1020.362 / 2750.571) | / | (1022.953 / 3311.822) |
| = | 0.370964 | / | 0.308879 |
| | = | 1.201 |
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) |
| = | ((3310.517 + 1450.463) / 13564.665) | / | ((4093.315 + 1544.483) / 14129.855) |
| = | 0.350984 | / | 0.398999 |
| | = | 0.8797 |
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 |
| = | (693.094 - -93.093 | - | 91.272) | / | 13564.665 |
| | = | 0.05123 |
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.
Revvity has a M-score of -2.12 suggests that the company is unlikely to be a manipulator.
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