Revolution Medicines Beneish M-Score Historical Data
The historical data trend for Revolution Medicines'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.
Revolution Medicines Beneish M-Score Chart
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Revolution Medicines Annual Data
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Trend |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
-3.01 |
-2.96 |
-2.80 |
-4.36 |
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Revolution Medicines 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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-2.80 |
-2.77 |
-3.28 |
-3.72 |
-4.36 |
Competitive Comparison of Revolution Medicines's Beneish M-Score
For the Biotechnology subindustry, Revolution Medicines'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.
Revolution Medicines's Beneish M-Score Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Revolution Medicines's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Revolution Medicines's Beneish M-Score falls into.
Revolution Medicines 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 Revolution Medicines 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 * 0.8199 | + | 0.528 * 1 | + | 0.404 * 0.416 | + | 0.892 * 0.3273 | + | 0.115 * 1.3598 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 5.6928 | + | 4.679 * -0.041614 | - | 0.327 * 0.7401 |
| = | -4.36 |
* 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 $1.25 Mil.
Revenue was 0.742 + 0 + 3.824 + 7.014 = $11.58 Mil.
Gross Profit was 0.742 + 0 + 3.824 + 7.014 = $11.58 Mil.
Total Current Assets was $1,879.28 Mil.
Total Assets was $2,061.71 Mil.
Property, Plant and Equipment(Net PPE) was $100.01 Mil.
Depreciation, Depletion and Amortization(DDA) was $9.31 Mil.
Selling, General, & Admin. Expense(SGA) was $75.62 Mil.
Total Current Liabilities was $143.85 Mil.
Long-Term Debt & Capital Lease Obligation was $80.58 Mil.
Net Income was -161.537 + -108.434 + -98.298 + -68.098 = $-436.37 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was -120.563 + -100.497 + -67.121 + -62.391 = $-350.57 Mil.
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Total Receivables was $4.67 Mil.
Revenue was 15.33 + 3.356 + 9.116 + 7.578 = $35.38 Mil.
Gross Profit was 15.33 + 3.356 + 9.116 + 7.578 = $35.38 Mil.
Total Current Assets was $660.19 Mil.
Total Assets was $811.93 Mil.
Property, Plant and Equipment(Net PPE) was $73.74 Mil.
Depreciation, Depletion and Amortization(DDA) was $9.66 Mil.
Selling, General, & Admin. Expense(SGA) was $40.59 Mil.
Total Current Liabilities was $61.98 Mil.
Long-Term Debt & Capital Lease Obligation was $57.43 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) |
| = | (1.254 / 11.58) | / | (4.673 / 35.38) |
| = | 0.10829 | / | 0.13208 |
| | = | 0.8199 |
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) |
| = | (35.38 / 35.38) | / | (11.58 / 11.58) |
| = | 1 | / | 1 |
| | = | 1 |
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 - (1879.281 + 100.014) / 2061.705) | / | (1 - (660.185 + 73.736) / 811.93) |
| = | 0.039972 | / | 0.096078 |
| | = | 0.416 |
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 |
| = | 11.58 | / | 35.38 |
| | = | 0.3273 |
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)) |
| = | (9.656 / (9.656 + 73.736)) | / | (9.309 / (9.309 + 100.014)) |
| = | 0.11579 | / | 0.085151 |
| | = | 1.3598 |
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) |
| = | (75.621 / 11.58) | / | (40.585 / 35.38) |
| = | 6.530311 | / | 1.147117 |
| | = | 5.6928 |
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) |
| = | ((80.575 + 143.851) / 2061.705) | / | ((57.432 + 61.984) / 811.93) |
| = | 0.108855 | / | 0.147077 |
| | = | 0.7401 |
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 |
| = | (-436.367 - 0 | - | -350.572) | / | 2061.705 |
| | = | -0.041614 |
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.
Revolution Medicines has a M-score of -4.36 suggests that the company is unlikely to be a manipulator.
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