AngioDynamics Beneish M Score

ANGO Stock  USD 13.45  0.09  0.67%   
This module uses fundamental data of AngioDynamics to approximate the value of its Beneish M Score. AngioDynamics 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. Please continue to AngioDynamics Piotroski F Score and AngioDynamics Altman Z Score analysis.
  
Total Debt is expected to rise to about 23.1 M this year. Debt Current is expected to rise to about 6.8 M this year. AngioDynamics Quick Ratio is quite stable at the moment as compared to the past year. The company's current value of Quick Ratio is estimated at 1.17. Net Current Assets as percentage of Total Assets is expected to rise to 17.85 this year, although the value of Interest Coverage will most likely fall to 2.76.
At this time, it appears that AngioDynamics is an unlikely manipulator. The earnings manipulation may begin if AngioDynamics' 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 AngioDynamics 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 AngioDynamics' 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.
-2.72
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables0.98Focus
Asset Quality1.02Focus
Expense Coverage0.97Focus
Gross Margin Strengs1.04Focus
Accruals Factor0.97Focus
Depreciation Resistance1.03Focus
Net Sales Growth0.97Focus
Financial Leverage Condition1.03Focus

AngioDynamics 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 AngioDynamics' 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 Expense144.9 M153.8 M
Notably Down
Up
Slightly volatile
Revenues276 M284.6 M
Sufficiently Down
Up
Very volatile
Trade and Non Trade Receivables44.6 M47.1 M
Notably Down
Down
Slightly volatile
Property Plant and Equipment Net40.2 M40.5 M
Slightly Down
Down
Slightly volatile
Operating Income(33.6 M)(32.7 M)
Fairly Down
Down
Slightly volatile
Net Cash Flow from Operations(8.5 M)(8.3 M)
Fairly Down
Down
Slightly volatile
Liabilities Non Current49.8 M48.5 M
Fairly Up
Down
Slightly volatile
Current Liabilities59.7 M66.9 M
Fairly Down
Up
Slightly volatile
Total Liabilities132.2 M115.4 M
Fairly Up
Down
Slightly volatile
Investments Current1.2 M1.2 M
Fairly Up
Down
Slightly volatile
Investments1.2 M1.2 M
Fairly Up
Down
Slightly volatile
Gross Margin62.6960.27
Sufficiently Up
Up
Slightly volatile
Depreciation Amortization and Accretion34.4 M36.6 M
Notably Down
Up
Slightly volatile
Debt Non Current23.1 M22.5 M
Fairly Up
Down
Slightly volatile
Debt Current6.8 M6.8 M
Fairly Up
Down
Very volatile
Total Debt23.1 M22.5 M
Fairly Up
Down
Slightly volatile
Assets Non Current421.5 M368.5 M
Fairly Up
Down
Slightly volatile
Current Assets139 M129 M
Significantly Up
Down
Very volatile
Total Assets541.5 M497.5 M
Significantly Up
Down
Slightly volatile

AngioDynamics 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 AngioDynamics' different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards AngioDynamics in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find AngioDynamics' degree of accounting gimmicks and manipulations.

About AngioDynamics 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

34.4 Million

AngioDynamics Depreciation Amortization and Accretion is quite stable at the moment as compared to the past year. The company's current value of Depreciation Amortization and Accretion is estimated at 34.4 Million

AngioDynamics 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 AngioDynamics. 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)
Revenues270.63 M264.16 M291.01 M316.22 M284.6 M276 M
Total Assets836.44 M594.21 M561.44 M552.75 M497.48 M541.47 M
Current Assets315.29 M152.91 M140.88 M143.34 M129.01 M139 M
Assets Non Current521.15 M441.3 M420.56 M409.41 M368.47 M421.5 M
Total Liabilities221.62 M139.34 M121.98 M128.26 M115.44 M132.18 M
Current Liabilities73.3 M51.45 M57.58 M74.32 M66.89 M59.69 M
Total Debt131.91 M40 M20 M25 M22.5 M23.09 M
Debt Non Current124.41 M40 M20 M25 M22.5 M23.09 M
Operating Income(9.4 M)(167.1 M)(35.28 M)(28.47 M)(32.74 M)(33.6 M)
Gross Margin57.6456.8953.8852.4160.2762.69

About AngioDynamics Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze AngioDynamics's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of AngioDynamics using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of AngioDynamics 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.
AngioDynamics, Inc. designs, manufactures, and sells various medical, surgical, and diagnostic devices used by professional healthcare providers for the treatment of peripheral vascular disease and vascular access and for use in oncology and surgical settings in the United States and internationally. The company was founded in 1988 and is headquartered in Latham, New York. Angiodynamics operates under Medical Instruments Supplies classification in the United States and is traded on NASDAQ Exchange. It employs 760 people.

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Our tools can tell you how much better you can do entering a position in AngioDynamics without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Pair Trading with AngioDynamics

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 AngioDynamics 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 AngioDynamics will appreciate offsetting losses from the drop in the long position's value.

Moving against AngioDynamics

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The ability to find closely correlated positions to AngioDynamics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AngioDynamics 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 AngioDynamics - 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 AngioDynamics to buy it.
The correlation of AngioDynamics 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 AngioDynamics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AngioDynamics 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 AngioDynamics 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
Please continue to AngioDynamics Piotroski F Score and AngioDynamics Altman Z Score analysis. Note that the AngioDynamics information on this page should be used as a complementary analysis to other AngioDynamics' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.

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When running AngioDynamics price analysis, check to measure AngioDynamics' 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 AngioDynamics is operating at the current time. Most of AngioDynamics' value examination focuses on studying past and present price action to predict the probability of AngioDynamics' future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move AngioDynamics' price. Additionally, you may evaluate how the addition of AngioDynamics to your portfolios can decrease your overall portfolio volatility.
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Is AngioDynamics' 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 AngioDynamics. If investors know AngioDynamics 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 AngioDynamics listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Market Capitalization
522.8 M
Quarterly Revenue Growth
0.091
Return On Assets
(0.0247) 
Return On Equity
(0.08) 
The market value of AngioDynamics is measured differently than its book value, which is the value of AngioDynamics that is recorded on the company's balance sheet. Investors also form their own opinion of AngioDynamics' value that differs from its market value or its book value, called intrinsic value, which is AngioDynamics' 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 AngioDynamics' market value can be influenced by many factors that don't directly affect AngioDynamics' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between AngioDynamics' value and its price as these two are different measures arrived at by different means. Investors typically determine AngioDynamics value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, AngioDynamics' 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.