Immatics Beneish M Score

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. Check out Risk vs Return Analysis.

Immatics Beneish M Score 

 
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Immatics Debt Current is fairly stable at the moment as compared to the past year. Immatics reported Debt Current of 1.88 Million in 2020. Debt to Equity Ratio is likely to rise to 1.56 in 2021, whereas Total Debt is likely to drop slightly above 6 M in 2021.
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.
-2.28
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables
1.08
Asset Quality
1.14
Expense Coverage
0.97
Gross Margin Strengs
0.99
Accruals Factor
0.97
Depreciation Resistance
0.92
Net Sales Growth
0.86
Financial Leverage Condition
1.19

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
Revenues26.8 M31.3 M
Fairly Down
Increasing
Slightly volatile
Selling General and Administrative Expense28.3 M34.2 M
Significantly Down
Increasing
Slightly volatile
Net Cash Flow from Operations(87.9 M)(85.6 M)
Fairly Down
Decreasing
Slightly volatile
Depreciation Amortization and Accretion4.3 M4.4 M
Fairly Down
Increasing
Slightly volatile
Total Assets220.9 M254.6 M
Fairly Down
Increasing
Slightly volatile
Investments24.6 M24.4 M
Slightly Up
Increasing
Slightly volatile
Investments Current24.6 M24.4 M
Slightly Up
Increasing
Slightly volatile
Property Plant and Equipment Net12.4 M14 M
Fairly Down
Increasing
Slightly volatile
Trade and Non Trade Receivables1.2 M1.2 M
Significantly Down
Increasing
Slightly volatile
Total Liabilities155.6 M150.4 M
Sufficiently Up
Increasing
Slightly volatile
Current Assets206.5 M239 M
Fairly Down
Increasing
Slightly volatile
Assets Non Current14.4 M15.7 M
Significantly Down
Increasing
Slightly volatile
Current Liabilities62.1 M60.6 M
Fairly Up
Increasing
Slightly volatile
Liabilities Non Current93.4 M89.8 M
Sufficiently Up
Increasing
Slightly volatile
Total DebtM6.2 M
Sufficiently Down
Increasing
Slightly volatile
Debt Current1.9 M1.9 M
Sufficiently Up
Increasing
Slightly volatile
Debt Non CurrentM4.3 M
Notably 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

4.35 MillionShare
Immatics Depreciation Amortization and Accretion is fairly stable at the moment as compared to the past year. Immatics reported Depreciation Amortization and Accretion of 4.42 Million in 2020

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Check out Risk vs Return 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 Fund Screener module to find activelly-traded funds from around the world traded on over 30 global exchanges.

Other Tools for Immatics Stock

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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