ANL (Adlai Nortye) Beneish M-Score: 0.00 (As of Jun. 27, 2026)


What is Adlai Nortye Beneish M-Score?

Adlai Nortye ANL -1.57% Beneish M-Score is 0.00 as of Jun. 27, 2026. The stock has 7 warning signs investors should review. Among 831 Biotechnology companies, Adlai Nortye ranks worse than 120336.82% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for Adlai Nortye's Beneish M-Score or its related term are showing as below:

During the past 5 years, the highest Beneish M-Score of Adlai Nortye was 0.00. The lowest was 0.00. And the median was 0.00.

Adlai Nortye Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Adlai Nortye's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Adlai Nortye Beneish M-Score Chart

Adlai Nortye Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00 0.00 0.00

Adlai Nortye Semi-Annual Data
Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only 0.00 0.00 0.00 0.00 0.00

ANL vs PHAT, AURA, RLMD: Beneish M-Score Comparison

For the Biotechnology subindustry, Adlai Nortye's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Adlai Nortye Beneish M-Score vs Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Adlai Nortye's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Adlai Nortye's Beneish M-Score falls into.


Adlai Nortye Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Adlai Nortye for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was $1.39 Mil.
Revenue was $5.00 Mil.
Gross Profit was $5.00 Mil.
Total Current Assets was $26.89 Mil.
Total Assets was $34.43 Mil.
Property, Plant and Equipment(Net PPE) was $3.02 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.41 Mil.
Selling, General, & Admin. Expense(SGA) was $7.79 Mil.
Total Current Liabilities was $41.63 Mil.
Long-Term Debt & Capital Lease Obligation was $1.13 Mil.
Net Income was $-35.53 Mil.
Gross Profit was $1.70 Mil.
Cash Flow from Operations was $-33.45 Mil.
 Total Receivables was $1.17 Mil.
Revenue was $0.00 Mil.
Gross Profit was $0.00 Mil.
Total Current Assets was $64.06 Mil.
Total Assets was $71.27 Mil.
Property, Plant and Equipment(Net PPE) was $2.71 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.87 Mil.
Selling, General, & Admin. Expense(SGA) was $9.44 Mil.
Total Current Liabilities was $45.36 Mil.
Long-Term Debt & Capital Lease Obligation was $0.43 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(1.39 / 5) / (1.174 / 0)
=0.278 /
=

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(0 / 0) / (5 / 5)
= / 1
=

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (26.892 + 3.02) / 34.433) / (1 - (64.064 + 2.705) / 71.27)
=0.131298 / 0.063154
=

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=5 / 0
=

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(1.87 / (1.87 + 2.705)) / (1.413 / (1.413 + 3.02))
=0.408743 / 0.318746
=

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(7.785 / 5) / (9.443 / 0)
=1.557 /
=

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((1.127 + 41.628) / 34.433) / ((0.425 + 45.36) / 71.27)
=1.241687 / 0.642416
=

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(-35.528 - 1.701 - -33.452) / 34.433
=-0.109691

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Adlai Nortye (ANL) has a Beneish M-Score of 0.00 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Adlai Nortye and its competitors. According to the industry distribution chart, Adlai Nortye ranks #999999 out of 831 companies in the Biotechnology industry.
Is Adlai Nortye's Beneish M-Score too high?
Adlai Nortye's current Beneish M-Score is 0.00. Based on the distribution chart, Adlai Nortye ranks #999999 out of 831 companies in the Biotechnology industry, which is in the bottom quartile relative to peers.
How does Adlai Nortye's Beneish M-Score compare to PHAT and AURA?
According to the Biotechnology industry distribution chart, Adlai Nortye ranks #999999 out of 831 companies for Beneish M-Score. This places Adlai Nortye in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Biotechnology company?
A good Beneish M-Score depends on the Biotechnology industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Adlai Nortye and its competitors. Adlai Nortye's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Adlai Nortye stock overvalued right now?
Adlai Nortye (ANL) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Adlai Nortye (ANL), the current Beneish M-Score is 0.00 as of Jun. 27, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Adlai Nortye Business Description

Other Exchanges N2U0:Germany
Address 685 US Highway 1, New Jersey Biotechnology Development Center, 2nd Floor, North Brunswick, NJ, USA, 08902
Adlai Nortye Ltd is a clinical-stage company at the forefront of discovering and developing cancer therapies. The company is building a robust pipeline of drug candidates focused on two key areas where it believes it can make a difference RAS-targeting therapies: its is tackling RAS-driven cancers with AN9025, an oral pan-RAS(ON) inhibitor, and AN4035, a CEACAM5-targeting ADC delivering a potent pan-RAS(ON) inhibitor directly to tumors; Next-generation cancer immunotherapies: its candidates, AN8025 (a tri-functional fusion protein of alphaPD-L1 x CD86 variant x LAG3 variant), a T-cell and antigen-presenting cell modulator, and AN4005 (a first-in-class oral small-molecule PD-L1 inhibitor), are designed to activate cancer immunity in novel ways.