Vericel Corp Ord Stock Beneish M Score

VCEL Stock  USD 45.68  2.12  4.44%   
This module uses fundamental data of Vericel Corp to approximate the value of its Beneish M Score. Vericel Corp 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 Vericel Corp Piotroski F Score and Vericel Corp Altman Z Score analysis.
  
At this time, Vericel Corp's Long Term Debt to Equity is quite stable as compared to the past year. Debt to Equity Ratio is expected to rise to 0.48 this year, although the value of Total Debt will most likely fall to about 43.7 M. At this time, Vericel Corp's Debt to Equity Ratio is quite stable as compared to the past year. Free Cash Flow per Share is expected to rise to 0.27 this year, although the value of Accounts Payable Turnover will most likely fall to 9.51.
At this time, it appears that Vericel Corp Ord is an unlikely manipulator. The earnings manipulation may begin if Vericel Corp's 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 Vericel Corp 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 Vericel Corp's 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.
-3.06
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables

1.0

Focus
Asset Quality

0.76

Focus
Expense Coverage

1.0

Focus
Gross Margin Strengs

0.97

Focus
Accruals Factor

1.0

Focus
Depreciation Resistance

1.33

Focus
Net Sales Growth

1.08

Focus
Financial Leverage Condition

0.9

Focus

Vericel Corp 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 Vericel Corp's 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 Expense132.6 M122.9 M
Significantly Up
Slightly volatile
Revenues203.9 M189 M
Significantly Up
Slightly volatile
Trade and Non Trade Receivables57.7 M53.5 M
Significantly Up
Slightly volatile
Property Plant and Equipment Net71.2 M66 M
Significantly Up
Slightly volatile
Operating Income(21.2 M)(19.6 M)
Significantly Down
Slightly volatile
Net Cash Flow from Operations21.9 M20.3 M
Significantly Up
Slightly volatile
Liabilities Non Current53.7 M49.8 M
Significantly Up
Slightly volatile
Current Liabilities46.5 M43.1 M
Significantly Up
Slightly volatile
Total Liabilities100.2 M92.8 M
Significantly Up
Slightly volatile
Investments Non Current23.5 M23 M
Fairly Up
Slightly volatile
Investments Current53.8 M61.6 M
Fairly Down
Slightly volatile
Investments92 M101.7 M
Moderately Down
Slightly volatile
Gross Margin0.750.77
Fairly Down
Very volatile
Depreciation Amortization and Accretion3.7 M4.6 M
Significantly Down
Slightly volatile
Debt Non Current39.8 M49.8 M
Significantly Down
Slightly volatile
Debt Current4.4 M4.9 M
Fairly Down
Slightly volatile
Total Debt43.7 M54.7 M
Significantly Down
Slightly volatile
Assets Non Current106.9 M99.1 M
Significantly Up
Slightly volatile
Current Assets231.9 M214.9 M
Significantly Up
Slightly volatile
Total Assets338.7 M314 M
Significantly Up
Slightly volatile

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

About Vericel Corp 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

3.66 Million

At this time, Vericel Corp's Depreciation Amortization and Accretion is quite stable as compared to the past year.

Vericel Corp 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 Vericel Corp. 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.
201920202021202220232024 (projected)
Revenues117.9M124.2M156.2M164.4M189.0M203.9M
Total Assets153.2M205.6M243.7M273.0M314.0M338.7M
Current Assets111.7M123.6M158.5M186.9M214.9M231.9M
Assets Non Current41.6M82.0M85.2M86.1M99.1M106.9M
Total Liabilities42.1M71.3M73.2M80.7M92.8M100.2M
Current Liabilities19.8M22.5M26.1M37.5M43.1M46.5M
Operating Income(11.3M)2.4M(7.9M)(17.1M)(19.6M)(21.2M)
Investments52.1M66.3M60.8M88.4M101.7M92.0M
Investments Current42.8M42.2M35.1M68.5M61.6M53.8M
Gross Margin0.530.650.680.670.770.75

About Vericel Corp Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Vericel Corp Ord's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Vericel Corp using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Vericel Corp Ord 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.
Vericel Corporation, a commercial-stage biopharmaceutical company, engages in the research, development, manufacture, and distribution of cellular therapies for sports medicine and severe burn care markets in the United States. Vericel Corporation was incorporated in 1989 and is headquartered in Cambridge, Massachusetts. Vericel operates under Biotechnology classification in the United States and is traded on NASDAQ Exchange. It employs 281 people.

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When determining whether Vericel Corp Ord is a strong investment it is important to analyze Vericel Corp's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Vericel Corp's future performance. For an informed investment choice regarding Vericel Stock, refer to the following important reports:
Check out Vericel Corp Piotroski F Score and Vericel Corp Altman Z Score analysis.
Note that the Vericel Corp Ord information on this page should be used as a complementary analysis to other Vericel Corp's 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 the ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.

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Is Vericel Corp's 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 Vericel Corp. If investors know Vericel 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 Vericel Corp 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
0.343
Earnings Share
(0.21)
Revenue Per Share
3.902
Quarterly Revenue Growth
0.182
Return On Assets
(0.03)
The market value of Vericel Corp Ord is measured differently than its book value, which is the value of Vericel that is recorded on the company's balance sheet. Investors also form their own opinion of Vericel Corp's value that differs from its market value or its book value, called intrinsic value, which is Vericel Corp's 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 Vericel Corp's market value can be influenced by many factors that don't directly affect Vericel Corp's 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 Vericel Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine if Vericel Corp is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Vericel Corp's 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.