Addex Beneish M Score

Stocks . USA . 
Stock . Addex Therapeutics
ADXN Stock  USD 0.70  0.05  7.69%   
This module uses fundamental data of Addex Therapeutics to approximate the value of its Beneish M Score. Addex Therapeutics M Score tells investors if the company management is likely to be manipulating earnings. The score is calculated using eight financial indicators that are adjusted by a specific multiplier. Please note, the M Score is a probabilistic model and cannot detect companies that manipulate their earnings with 100% accuracy. Check out Addex Therapeutics Piotroski F Score and Addex Therapeutics Altman Z Score analysis. To learn how to invest in Addex Stock, please use our How to Invest in Addex Therapeutics guide.
  
Addex Therapeutics Total Debt is very stable at the moment as compared to the past year. Addex Therapeutics reported last year Total Debt of 373,135. As of 1st of June 2023, Debt Non Current is likely to grow to about 121.3 K, while Debt Current is likely to drop about 282.7 K. Addex Therapeutics Asset Turnover is very stable at the moment as compared to the past year. Addex Therapeutics reported last year Asset Turnover of 0.12. As of 1st of June 2023, Book Value per Share is likely to grow to 0.80, while Debt to Equity Ratio is likely to drop 0.58.
At this time, it appears that Addex Therapeutics is an unlikely manipulator. The earnings manipulation may begin if Addex Therapeutics' top management creates an artificial sense of financial success, forcing the stock price to be traded at a high price-earnings multiple than it should be. In general, excessive earnings management by Addex Therapeutics executives may lead to removing some of the operating profits from subsequent periods to inflate earnings in the following periods. This way, the manipulation of Addex Therapeutics' earnings can lead to misrepresentations of actual financial condition, taking the otherwise loyal stakeholders on to the path of questionable ethical practices and plain fraud.
-2.24
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables0.55Focus
Asset Quality7.31Focus
Expense Coverage0.59Focus
Gross Margin Strengs0.99Focus
Accruals Factor0.59Focus
Depreciation Resistance1.06Focus
Net Sales Growth1.52Focus
Financial Leverage Condition1.24Focus

Addex Therapeutics Beneish M-Score Indicator Trends

The cure to earnings manipulation is the transparency of financial reporting. It will typically remove the temptation of the top executives to inflate earnings (i.e., to promote the idea of 'winning at any cost'). Because a healthy internal audit department can enhance transparency, the board should promote the auditors' access to all the record-keeping systems across the enterprise. For example, if Addex Therapeutics' auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back.
Current ValueLast YearChange From Last Year 10 Year Trend
Selling General and Administrative Expense6.6 M7.3 M
Moderately Down
Slightly volatile
Revenues2.2 M1.4 M
Way Up
Slightly volatile
Trade and Non Trade Receivables349.2 K416.9 K
Fairly Down
Pretty Stable
Property Plant and Equipment Net417.9 K398.7 K
Sufficiently Up
Slightly volatile
Net Cash Flow from Operations(16.9 M)(16.4 M)
Fairly Down
Slightly volatile
Liabilities Non Current89.3 K87 K
Fairly Up
Slightly volatile
Current Liabilities3.7 M3.3 M
Moderately Up
Slightly volatile
Total Liabilities4.4 M3.4 M
Significantly Up
Slightly volatile
Investments Non Current57.7 K54.4 K
Notably Up
Slightly volatile
Investments Current3.2 K3.2 K
Fairly Up
Pretty Stable
Investments70.8 K57.5 K
Fairly Up
Slightly volatile
Gross Margin0.890.9
Fairly Down
Slightly volatile
Depreciation Amortization and Accretion305.3 K323.1 K
Notably Down
Slightly volatile
Debt Non Current121.3 K87 K
Significantly Up
Pretty Stable
Debt Current282.7 K286.1 K
Fairly Down
Slightly volatile
Total Debt404 K373.1 K
Significantly Up
Slightly volatile
Assets Non Current475.7 K453.1 K
Sufficiently Up
Slightly volatile
Current Assets8 M7.8 M
Fairly Up
Slightly volatile
Total Assets8.5 M8.3 M
Fairly Up
Slightly volatile

Addex Therapeutics Beneish M-Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to detect the potential manipulation of earnings. Understanding the correlation between Addex Therapeutics' different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Addex Therapeutics in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find Addex Therapeutics' degree of accounting gimmicks and manipulations.
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About Addex Therapeutics Beneish M Score

M-Score is one of many grading techniques for value stocks. It was developed by Professor M. Daniel Beneish of the Kelley School of Business at Indiana University and published in 1999 under the paper titled The Detection of Earnings Manipulation. The Beneish score is a multi-factor model that utilizes financial identifiers to compile eight variables used to classify whether a company has manipulated its reported earnings. The variables are built from the officially filed financial statements to create a final score call 'M Score.' The score helps to identify companies that are likely to manipulate their profits if they show deteriorating gross margins, operating expenses, and leverage against growing revenue.

Depreciation Amortization and Accretion

305,312

Addex Therapeutics Depreciation Amortization and Accretion is very stable at the moment as compared to the past year. Addex Therapeutics reported last year Depreciation Amortization and Accretion of 323,144

Addex Therapeutics Earnings Manipulation Drivers

Although earnings manipulation is typically not the result of intentional misconduct by the c-level executives, it is still a widespread practice by the senior management of public companies such as Addex Therapeutics. It is usually done by a series of misrepresentations of various accounting rules and operating activities across multiple financial cycles. The best way to spot the manipulation is to examine the historical financial statement to find inconsistencies in earning reports to find trends in assets or liabilities that are not sustainable in the future.
201820192020202120222023 (projected)
Total Assets42.21 M33.03 M20.18 M22.54 M8.28 M8.5 M
Current Assets42.15 M32.39 M19.49 M21.94 M7.83 M8.03 M
Assets Non Current63.27 K639.88 K692.25 K600.01 K453.09 K475.68 K
Total Liabilities2.97 M7.5 M5.57 M5.61 M3.37 M4.35 M
Current Liabilities2.33 M5.68 M3.62 M4.13 M3.28 M3.71 M
Operating Income(2.08 M)(14.67 M)(12.51 M)(15.74 M)(20.54 M)(21.08 M)
Investments62.39 K82.88 K124.07 K75.05 K57.52 K70.83 K
Investments Current7.98 K13.97 K64.93 K17.14 K3.17 K3.25 K

About Addex Therapeutics Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Addex Therapeutics's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Addex Therapeutics using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Addex Therapeutics based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Addex Therapeutics Ltd, a development-stage biopharmaceutical company, discovers, develops, and commercializes small-molecule pharmaceutical products for central nervous system disorders in Switzerland. Addex Therapeutics Ltd was founded in 2002 and is headquartered in Geneva, Switzerland. Addex Therapeutics operates under Biotechnology classification in the United States and is traded on NASDAQ Exchange. It employs 26 people.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Addex Therapeutics in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Addex Therapeutics' short interest history, or implied volatility extrapolated from Addex Therapeutics options trading.

Pair Trading with Addex Therapeutics

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Addex Therapeutics position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Addex Therapeutics will appreciate offsetting losses from the drop in the long position's value.

Moving together with Addex Stock

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Moving against Addex Stock

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The ability to find closely correlated positions to Addex Therapeutics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Addex Therapeutics when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Addex Therapeutics - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Addex Therapeutics to buy it.
The correlation of Addex Therapeutics is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Addex Therapeutics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Addex Therapeutics moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Addex Therapeutics can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
Check out Addex Therapeutics Piotroski F Score and Addex Therapeutics Altman Z Score analysis. To learn how to invest in Addex Stock, please use our How to Invest in Addex Therapeutics guide. You can also try Technical Analysis module to check basic technical indicators and analysis based on most latest market data.

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When running Addex Therapeutics' price analysis, check to measure Addex Therapeutics' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Addex Therapeutics is operating at the current time. Most of Addex Therapeutics' value examination focuses on studying past and present price action to predict the probability of Addex Therapeutics' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Addex Therapeutics' price. Additionally, you may evaluate how the addition of Addex Therapeutics to your portfolios can decrease your overall portfolio volatility.
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Is Addex Therapeutics' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Addex Therapeutics. If investors know Addex will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Addex Therapeutics listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share
(2.41) 
Revenue Per Share
0.192
Quarterly Revenue Growth
0.493
Return On Assets
(0.83) 
Return On Equity
(1.90) 
The market value of Addex Therapeutics is measured differently than its book value, which is the value of Addex that is recorded on the company's balance sheet. Investors also form their own opinion of Addex Therapeutics' value that differs from its market value or its book value, called intrinsic value, which is Addex Therapeutics' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Addex Therapeutics' market value can be influenced by many factors that don't directly affect Addex Therapeutics' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
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Z Score
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F Score
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Beneish
M Score
Details
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Analysis
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Buy or Sell
Advice
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Technical
Analysis
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Please note, there is a significant difference between Addex Therapeutics' value and its price as these two are different measures arrived at by different means. Investors typically determine if Addex Therapeutics is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Addex Therapeutics' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party. Check out Addex Therapeutics Piotroski F Score and Addex Therapeutics Altman Z Score analysis. To learn how to invest in Addex Stock, please use our How to Invest in Addex Therapeutics guide.


 
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