ARTL (Artelo Biosciences) Beneish M-Score: 0.00 (As of Jun. 26, 2026)

What is Artelo Biosciences Beneish M-Score?

Artelo Biosciences ARTL -1.75% 31 Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus rates ARTL with a GF Score™ of 31/100. The stock has 2 warning signs investors should review. Among 831 Biotechnology companies, Artelo Biosciences 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 Artelo Biosciences's Beneish M-Score or its related term are showing as below:

During the past 12 years, the highest Beneish M-Score of Artelo Biosciences was 0.00. The lowest was 0.00. And the median was 0.00.

Artelo Biosciences Beneish M-Score Related Terms

Artelo Biosciences Beneish M-Score Historical Data

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The historical data trend for Artelo Biosciences'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.

Artelo Biosciences Beneish M-Score Chart

Artelo Biosciences Annual Data

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Beneish M-Score

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0.00

Artelo Biosciences Quarterly Data
	May21	Aug21	Nov21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															0.00	0.00	0.00	0.00	0.00

ARTL vs RNAZ, GLMD, DCOY: Beneish M-Score Comparison

For the Biotechnology subindustry, Artelo Biosciences'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.

Artelo Biosciences Beneish M-Score vs Biotechnology Industry

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

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

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Artelo Biosciences Inc ARTL

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Artelo Biosciences 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 Artelo Biosciences for today is based on a combination of the following eight different indices:

-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 *

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $10.42 Mil.
Total Assets was $12.52 Mil.
Property, Plant and Equipment(Net PPE) was $0.06 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $6.90 Mil.
Total Current Liabilities was $5.83 Mil.
Long-Term Debt & Capital Lease Obligation was $0.02 Mil.
Net Income was -2.958 + -4.166 + -3.12 + -3.221 = $-13.47 Mil.
Non Operating Income was -0.146 + -1.273 + 0.075 + 0 = $-1.34 Mil.
Cash Flow from Operations was -1.191 + -2.911 + -3.498 + -0.514 = $-8.11 Mil.

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $1.38 Mil.
Total Assets was $3.52 Mil.
Property, Plant and Equipment(Net PPE) was $0.09 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $4.03 Mil.
Total Current Liabilities was $2.80 Mil.
Long-Term Debt & Capital Lease Obligation was $0.06 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)
	=	(0 / 0)	/	(0 / 0)
	=		/
	=

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)	/	(0 / 0)
	=		/
	=

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 - (10.421 + 0.055) / 12.518)	/	(1 - (1.382 + 0.091) / 3.515)
	=	0.163125	/	0.580939
	=

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
	=	0	/	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))
	=	(0 / (0 + 0.091))	/	(0 / (0 + 0.055))
	=	0	/	0
	=

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)
	=	(6.902 / 0)	/	(4.028 / 0)
	=		/
	=

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)
	=	((0.018 + 5.828) / 12.518)	/	((0.059 + 2.804) / 3.515)
	=	0.467008	/	0.814509
	=

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
	=	(-13.465 - -1.344	-	-8.114)	/	12.518
	=	-0.320099

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?

Artelo Biosciences (ARTL) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Artelo Biosciences and its competitors. According to the industry distribution chart, Artelo Biosciences ranks #999999 out of 831 companies in the Biotechnology industry.

Is Artelo Biosciences' Beneish M-Score too high?

Artelo Biosciences' current Beneish M-Score is 0.00. Based on the distribution chart, Artelo Biosciences ranks #999999 out of 831 companies in the Biotechnology industry, which is in the bottom quartile relative to peers. Overall, Artelo Biosciences has a GF Score™ of 31/100, reflecting its overall financial health beyond just this single metric.

How does Artelo Biosciences' Beneish M-Score compare to RNAZ and GLMD?

According to the Biotechnology industry distribution chart, Artelo Biosciences ranks #999999 out of 831 companies for Beneish M-Score. This places Artelo Biosciences 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 Artelo Biosciences and its competitors. Artelo Biosciences'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 Artelo Biosciences stock overvalued right now?

Artelo Biosciences (ARTL) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Artelo Biosciences' overall GF Score™ is 31/100 with 2 warning signs to review. 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 Artelo Biosciences (ARTL), the current Beneish M-Score is 0.00 as of Jun. 26, 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.

Artelo Biosciences Business Description

Industry Healthcare Biotechnology

Comparable Companies RNAZ GLMD DCOY CDT PULM ADIL MBIO MTNB ALZN DRMA VRTX REGN XBRU:UCB XBRU:ARGX XKRX:207940 ALNY RVMD ASX:CSL ONC XKRX:068270

Address 505 Lomas Santa Fe, Suite 160, Solana Beach, CA, USA, 92075

Website https://www.artelobio.com

Artelo Biosciences Inc is a United States-based development-stage biopharmaceutical company. It is engaged in the development of therapeutics that target lipid signaling pathways, including the endocannabinoid system, a family of receptors & neurotransmitters that form a biochemical communication network in the body. It is focused on discovering, licensing, developing, & commercializing treatments that control endocannabinoid systems. The company pursues technologies & programs that offer proprietary approaches to cannabinoid-based therapies, & those derived from the cannabis plant & synthetic cannabinoids, as well as new chemical entities & compounds. The firm's flagship program is designed to be a patent-protected cannabinoid drug combination treatment for a rare & orphan disease.

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