Corcept Therapeutics Incorporated Stock Beneish M Score
CORT Stock | USD 22.66 0.34 1.48% |
Corcept | Beneish M Score |
At this time, it appears that Corcept Therapeutics is an unlikely manipulator. The earnings manipulation may begin if Corcept 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 Corcept 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 Corcept 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.
-2.7
Beneish M Score - Unlikely Manipulator
Corcept 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 Corcept 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 Value | Last Year | Change From Last Year | 10 Year Trend | ||||||
---|---|---|---|---|---|---|---|---|---|
Net Receivables | 57.9 M | 55.1 M |
|
| |||||
Total Assets | 652.6 M | 621.5 M |
|
| |||||
Total Current Assets | 481.6 M | 458.6 M |
|
| |||||
Non Current Assets Total | 171 M | 162.9 M |
|
| |||||
Property Plant Equipment | 2.1 M | 2 M |
|
| |||||
Depreciation And Amortization | 2.5 M | 2.4 M |
|
| |||||
Selling General Administrative | 193.1 M | 184.3 M |
|
| |||||
Total Current Liabilities | 109.7 M | 104.5 M |
|
| |||||
Short Term Debt | 143.4 K | 151 K |
|
| |||||
Gross Profit Margin | 0.78 | 0.9866 |
|
|
Corcept 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 Corcept Therapeutics' different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Corcept Therapeutics in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find Corcept Therapeutics' degree of accounting gimmicks and manipulations.
Click cells to compare fundamentals
About Corcept 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 And Amortization |
|
Corcept 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 Corcept 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.
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Net Receivables | 19.9M | 26.2M | 27.6M | 45.1M | 55.1M | 57.9M | |
Total Revenue | 306.5M | 353.9M | 366.0M | 401.9M | 482.4M | 506.5M | |
Total Assets | 412.3M | 571.7M | 423.8M | 583.4M | 621.5M | 652.6M | |
Total Current Assets | 352.6M | 524.2M | 381.4M | 498.7M | 458.6M | 481.6M | |
Net Debt | (311.9M) | (474.3M) | (335.3M) | (435.5M) | (135.4M) | (142.2M) | |
Operating Income | 111.6M | 128.2M | 124.5M | 112.6M | 107.3M | 112.6M | |
Investments | (116.7M) | (118.0M) | 136.6M | (114.3M) | 56.6M | 59.4M |
About Corcept Therapeutics Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Corcept Therapeutics Incorporated's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Corcept Therapeutics using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Corcept Therapeutics Incorporated 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.
Pair Trading with Corcept 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 Corcept 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 Corcept Therapeutics will appreciate offsetting losses from the drop in the long position's value.Moving against Corcept Stock
0.64 | DRUG | Bright Minds Biosciences | PairCorr |
0.55 | KA | Kineta Inc Financial Report 9th of May 2024 | PairCorr |
0.55 | DRTS | Alpha Tau Medical Financial Report 28th of May 2024 | PairCorr |
0.54 | DMTK | DermTech Financial Report 2nd of May 2024 | PairCorr |
0.48 | ME | 23Andme Holding | PairCorr |
The ability to find closely correlated positions to Corcept 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 Corcept 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 Corcept 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 Corcept Therapeutics Incorporated to buy it.
The correlation of Corcept Therapeutics is a statistical measure of how it moves in relation to other instruments. 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 Corcept Therapeutics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Corcept 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 Corcept 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.Check out Corcept Therapeutics Piotroski F Score and Corcept Therapeutics Altman Z Score analysis. You can also try the Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
Complementary Tools for Corcept Stock analysis
When running Corcept Therapeutics' price analysis, check to measure Corcept 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 Corcept Therapeutics is operating at the current time. Most of Corcept Therapeutics' value examination focuses on studying past and present price action to predict the probability of Corcept Therapeutics' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Corcept Therapeutics' price. Additionally, you may evaluate how the addition of Corcept Therapeutics to your portfolios can decrease your overall portfolio volatility.
Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
Money Managers Screen money managers from public funds and ETFs managed around the world | |
Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
Stocks Directory Find actively traded stocks across global markets | |
Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
Commodity Directory Find actively traded commodities issued by global exchanges | |
Content Syndication Quickly integrate customizable finance content to your own investment portal | |
CEOs Directory Screen CEOs from public companies around the world | |
Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals |
Is Corcept 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 Corcept Therapeutics. If investors know Corcept 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 Corcept Therapeutics listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.995 | Earnings Share 0.95 | Revenue Per Share 4.658 | Quarterly Revenue Growth 0.314 | Return On Assets 0.1113 |
The market value of Corcept Therapeutics is measured differently than its book value, which is the value of Corcept that is recorded on the company's balance sheet. Investors also form their own opinion of Corcept Therapeutics' value that differs from its market value or its book value, called intrinsic value, which is Corcept 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 Corcept Therapeutics' market value can be influenced by many factors that don't directly affect Corcept Therapeutics' 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 Corcept Therapeutics' value and its price as these two are different measures arrived at by different means. Investors typically determine if Corcept Therapeutics is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Corcept 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.