Immatics Beneish M Score

IMTX
 Stock
  

USD 8.91  0.20  2.30%   

This module uses fundamental data of Immatics to approximate the value of its Beneish M Score. Immatics 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 see Immatics Piotroski F Score and Immatics Altman Z Score analysis.
  
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Debt to Equity Ratio is likely to rise to 6.75 in 2022, whereas Total Debt is likely to drop slightly above 32.2 M in 2022. Immatics Book Value per Share is fairly stable at the moment as compared to the past year. Immatics reported Book Value per Share of 0.38 in 2021. Current Ratio is likely to rise to 1.74 in 2022, whereas EBITDA Margin is likely to drop (2.68)  in 2022.
At this time, it appears that Immatics NV is an unlikely manipulator. The earnings manipulation may begin if Immatics' 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 Immatics 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 Immatics' 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.
-2.45
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables1.37Focus
Asset Quality1.09Focus
Expense Coverage1.01Focus
Gross Margin Strengs0.99Focus
Accruals Factor1.01Focus
Depreciation Resistance0.91Focus
Net Sales Growth0.89Focus
Financial Leverage Condition0.98Focus

Immatics 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 Immatics' 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
Revenues31.1 M34.8 M
Moderately Down
Increasing
Slightly volatile
Selling General and Administrative Expense30.4 M33.8 M
Moderately Down
Increasing
Slightly volatile
Net Cash Flow from Operations(83.9 M)(81.8 M)
Fairly Down
Decreasing
Slightly volatile
Depreciation Amortization and AccretionM5.3 M
Sufficiently Down
Increasing
Slightly volatile
Total Assets182.4 M174.6 M
Sufficiently Up
Increasing
Slightly volatile
Investments13.8 M12.1 M
Moderately Up
Increasing
Very volatile
Investments Current13.8 M12.1 M
Moderately Up
Increasing
Very volatile
Property Plant and Equipment Net17.5 M20.5 M
Fairly Down
Increasing
Slightly volatile
Trade and Non Trade Receivables834 K682 K
Fairly Up
Increasing
Slightly volatile
Total Liabilities160.8 M150.6 M
Notably Up
Increasing
Slightly volatile
Current Assets162.7 M152.2 M
Notably Up
Increasing
Slightly volatile
Assets Non Current19.7 M22.4 M
Fairly Down
Increasing
Slightly volatile
Current Liabilities89 M95.1 M
Notably Down
Increasing
Slightly volatile
Liabilities Non Current71.8 M55.4 M
Significantly Up
Increasing
Slightly volatile
Total Debt32.2 M37.7 M
Fairly Down
Increasing
Slightly volatile
Debt Current25.9 M30.6 M
Fairly Down
Increasing
Slightly volatile
Debt Non Current6.3 M7.1 M
Fairly Down
Increasing
Slightly volatile
Gross Margin0.890.9
Fairly Down
Decreasing
Slightly volatile

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

About Immatics 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

5.04 Million

Share
Immatics Depreciation Amortization and Accretion is fairly stable at the moment as compared to the past year. Immatics reported Depreciation Amortization and Accretion of 5.26 Million in 2021

About Immatics Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Immatics NV's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Immatics using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Immatics NV 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.
Immatics N.V., a clinical-stage biopharmaceutical company, focuses on the discovery and development of T cell receptor based immunotherapies for the treatment of cancer in the United States. The company has a strategic collaboration agreement with GlaxoSmithKline Intellectual Property Development Limited to develop novel adoptive cell therapies targeting multiple cancer indications MD Anderson Cancer Center to develop multiple T cell and TCR-based adoptive cellular therapies Celgene Switzerland LLC to develop novel adoptive cell therapies targeting multiple cancers and Genmab AS to develop T cell engaging bispecific immunotherapies targeting multiple cancer indications. Immatics operates under Biotechnology classification in the United States and is traded on NASDAQ Exchange. It employs 188 people.

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Please see Immatics Piotroski F Score and Immatics Altman Z Score analysis. Note that the Immatics NV information on this page should be used as a complementary analysis to other Immatics' 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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.

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When running Immatics NV price analysis, check to measure Immatics' 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 Immatics is operating at the current time. Most of Immatics' value examination focuses on studying past and present price action to predict the probability of Immatics' future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Immatics' price. Additionally, you may evaluate how the addition of Immatics to your portfolios can decrease your overall portfolio volatility.
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Is Immatics' 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 Immatics. If investors know Immatics 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 Immatics listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Market Capitalization
560.7 M
Quarterly Revenue Growth YOY
12.9
Return On Assets
0.0145
Return On Equity
0.16
The market value of Immatics NV is measured differently than its book value, which is the value of Immatics that is recorded on the company's balance sheet. Investors also form their own opinion of Immatics' value that differs from its market value or its book value, called intrinsic value, which is Immatics' 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 Immatics' market value can be influenced by many factors that don't directly affect Immatics' 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 Immatics' value and its price as these two are different measures arrived at by different means. Investors typically determine Immatics value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Immatics' 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.