Edap Tms Beneish M Score

EDAP -  USA Stock  

USD 6.01  0.06  0.99%

This module uses fundamental data of Edap Tms to approximate the value of its Beneish M Score. Edap Tms 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. Continue to Edap Tms Piotroski F Score and Edap Tms Altman Z Score analysis.

Edap Tms Beneish M Score 

 
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Edap Tms Debt Non Current is very stable at the moment as compared to the past year. Edap Tms reported last year Debt Non Current of 2.8 Million. As of 23rd of October 2021, Issuance Repayment of Debt Securities is likely to grow to about 3.4 M, while Total Debt is likely to drop about 9 M. Edap Tms Gross Margin is very stable at the moment as compared to the past year. Edap Tms reported last year Gross Margin of 0.44
At this time, it appears that Edap Tms Sa is an unlikely manipulator. The earnings manipulation may begin if Edap Tms' 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 Edap Tms 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 Edap Tms' 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.
-2.64
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables
0.98
Asset Quality
1.08
Expense Coverage
1.05
Gross Margin Strengs
1.07
Accruals Factor
1.05
Depreciation Resistance
0.98
Net Sales Growth
0.97
Financial Leverage Condition
0.99

Edap Tms 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 Edap Tms' 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
Revenues40.5 M41.7 M
Fairly Down
Increasing
Slightly volatile
Selling General and Administrative Expense13.8 M13.6 M
Fairly Up
Increasing
Slightly volatile
Net Cash Flow from Operations2.3 M2.1 M
Significantly Up
Increasing
Slightly volatile
Depreciation Amortization and Accretion1.9 M2.1 M
Moderately Down
Increasing
Slightly volatile
Total Assets52.6 M55.2 M
Notably Down
Increasing
Slightly volatile
Investments973.8 K900 K
Significantly Up
Decreasing
Slightly volatile
Investments Current973.8 K900 K
Significantly Up
Decreasing
Slightly volatile
Property Plant and Equipment Net4.9 M5.6 M
Fairly Down
Increasing
Slightly volatile
Trade and Non Trade Receivables11.7 M12.3 M
Notably Down
Decreasing
Stable
Total Liabilities28.6 M28.9 M
Fairly Down
Increasing
Slightly volatile
Current Assets43.3 M45.4 M
Sufficiently Down
Increasing
Slightly volatile
Assets Non Current9.2 M9.8 M
Notably Down
Increasing
Slightly volatile
Current Liabilities20.5 M21.5 M
Sufficiently Down
Increasing
Slightly volatile
Liabilities Non CurrentM7.4 M
Notably Down
Decreasing
Stable
Total DebtM11.1 M
Significantly Down
Decreasing
Stable
Debt Current6.9 M8.3 M
Significantly Down
Increasing
Stable
Debt Non Current2.8 M2.8 M
Fairly Up
Decreasing
Slightly volatile
Operating Income290.2 K269 K
Significantly Up
Increasing
Slightly volatile
Gross Margin0.470.441
Notably Up
Increasing
Slightly volatile

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

About Edap Tms 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

1.89 MillionShare
Edap Tms Depreciation Amortization and Accretion is very stable at the moment as compared to the past year. Edap Tms reported last year Depreciation Amortization and Accretion of 2.1 Million

Edap Tms 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 Edap Tms. 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.
201620172018201920202021 (projected)
Revenues35.61 M35.75 M39.18 M44.91 M41.66 M40.47 M
Total Assets46.59 M46.9 M48.74 M53.07 M55.19 M52.56 M
Current Assets40.5 M39.57 M40.38 M42.1 M45.39 M43.33 M
Assets Non Current6.09 M7.32 M8.36 M10.97 M9.8 M9.23 M
Total Liabilities22.14 M21.74 M23.78 M25.71 M28.95 M28.6 M
Current Liabilities15.01 M16.13 M16.81 M17.49 M21.5 M20.5 M
Total Debt2.76 M4.72 M6.75 M8.66 M11.11 M9.02 M
Debt Current2.07 M3.36 M4.56 M5.33 M8.32 M6.87 M
Operating Income391 K(2.03 M)(1.31 M)2.2 M269 K290.24 K
Gross Margin0.420.430.460.410.470.44

About Edap Tms Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Edap Tms Sa's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Edap Tms using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Edap Tms Sa 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.
EDAP TMS S.A., together with its subsidiaries, develops, produces, markets, distributes, and maintains a portfolio of minimally-invasive medical devices for the treatment of urological diseases in Asia, France, the United States, and internationally. The company was incorporated in 1979 and is headquartered in Lyon, France. Edap Tms operates under Medical Devices classification in the United States and is traded on NASDAQ Exchange. It employs 223 people.

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Our tools can tell you how much better you can do entering a position in Edap Tms without increasing your portfolio risk or giving up 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 Edap Tms

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

Edap Tms Pair Correlation

Equities Pair Trading Analysis

Correlation analysis and pair trading evaluation for Edap Tms and Bio-Rad Laboratories. Pair trading can be used as a hedging technique within a particular sector or industry or even over random equities to generate better risk-adjusted return
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Continue to Edap Tms Piotroski F Score and Edap Tms Altman Z Score analysis. Note that the Edap Tms Sa information on this page should be used as a complementary analysis to other Edap Tms' 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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.

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The market value of Edap Tms Sa is measured differently than its book value, which is the value of Edap Tms that is recorded on the company's balance sheet. Investors also form their own opinion of Edap Tms' value that differs from its market value or its book value, called intrinsic value, which is Edap Tms' 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 Edap Tms' market value can be influenced by many factors that don't directly affect Edap Tms Sa underlying business (such as pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Edap Tms' value and its price as these two are different measures arrived at by different means. Investors typically determine Edap Tms value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Edap Tms' 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.