BCAL Diagnostics (ASX:BDX) Beneish M-Score: 0.00 (As of Jun. 26, 2026)


What is BCAL Diagnostics Beneish M-Score?

BCAL Diagnostics ASX:BDX -3.70% Beneish M-Score is 0.00 as of Jun. 26, 2026. The stock has 3 warning signs investors should review. Among 195 Medical Diagnostics & Research companies, BCAL Diagnostics ranks worse than 512820% 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 BCAL Diagnostics's Beneish M-Score or its related term are showing as below:

During the past 4 years, the highest Beneish M-Score of BCAL Diagnostics was 0.00. The lowest was 0.00. And the median was 0.00.

BCAL Diagnostics Beneish M-Score Historical Data

* Premium members only.

The historical data trend for BCAL Diagnostics'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.

BCAL Diagnostics Beneish M-Score Chart

BCAL Diagnostics Annual Data
Trend Jun22 Jun23 Jun24 Jun25
Beneish M-Score
0.00 0.00 0.00 0.00

BCAL Diagnostics Semi-Annual Data
Dec20 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

ASX:BDX vs TMO, DHR, IDXX: Beneish M-Score Comparison

For the Diagnostics & Research subindustry, BCAL Diagnostics'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.

BCAL Diagnostics Beneish M-Score vs Medical Diagnostics & Research Industry

For the Medical Diagnostics & Research industry and Healthcare sector, BCAL Diagnostics's Beneish M-Score distribution charts can be found below:

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


BCAL Diagnostics 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 BCAL Diagnostics 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 (Jun25) TTM:Last Year (Jun24) TTM:
Total Receivables was A$0.01 Mil.
Revenue was A$0.02 Mil.
Gross Profit was A$0.02 Mil.
Total Current Assets was A$7.20 Mil.
Total Assets was A$9.91 Mil.
Property, Plant and Equipment(Net PPE) was A$2.71 Mil.
Depreciation, Depletion and Amortization(DDA) was A$1.00 Mil.
Selling, General, & Admin. Expense(SGA) was A$5.39 Mil.
Total Current Liabilities was A$3.11 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.58 Mil.
Net Income was A$-7.24 Mil.
Gross Profit was A$2.63 Mil.
Cash Flow from Operations was A$-6.14 Mil.
 Total Receivables was A$0.04 Mil.
Revenue was A$0.00 Mil.
Gross Profit was A$0.00 Mil.
Total Current Assets was A$9.34 Mil.
Total Assets was A$12.27 Mil.
Property, Plant and Equipment(Net PPE) was A$2.93 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.58 Mil.
Selling, General, & Admin. Expense(SGA) was A$4.33 Mil.
Total Current Liabilities was A$2.60 Mil.
Long-Term Debt & Capital Lease Obligation was A$1.08 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)
=(0.007 / 0.022) / (0.035 / 0)
=0.318182 /
=

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) / (0.022 / 0.022)
= / 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 - (7.195 + 2.714) / 9.909) / (1 - (9.338 + 2.928) / 12.266)
=0 / 0
=

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
=0.022 / 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))
=(0.58 / (0.58 + 2.928)) / (1.002 / (1.002 + 2.714))
=0.165336 / 0.269645
=

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)
=(5.385 / 0.022) / (4.332 / 0)
=244.772727 /
=

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)
=((0.58 + 3.108) / 9.909) / ((1.082 + 2.596) / 12.266)
=0.372187 / 0.299853
=

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
=(-7.241 - 2.629 - -6.136) / 9.909
=-0.376829

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?
BCAL Diagnostics (ASX:BDX) 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 BCAL Diagnostics and its competitors. According to the industry distribution chart, BCAL Diagnostics ranks #999999 out of 195 companies in the Medical Diagnostics & Research industry.
Is BCAL Diagnostics' Beneish M-Score too high?
BCAL Diagnostics' current Beneish M-Score is 0.00. Based on the distribution chart, BCAL Diagnostics ranks #999999 out of 195 companies in the Medical Diagnostics & Research industry, which is in the bottom quartile relative to peers.
How does BCAL Diagnostics' Beneish M-Score compare to TMO and DHR?
According to the Medical Diagnostics & Research industry distribution chart, BCAL Diagnostics ranks #999999 out of 195 companies for Beneish M-Score. This places BCAL Diagnostics 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 Medical Diagnostics & Research company?
A good Beneish M-Score depends on the Medical Diagnostics & Research 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 BCAL Diagnostics and its competitors. BCAL Diagnostics'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 BCAL Diagnostics stock overvalued right now?
BCAL Diagnostics (ASX:BDX) 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 BCAL Diagnostics (ASX:BDX), 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.

BCAL Diagnostics Business Description

Address 50 Clarence Street, Suite 506, Level 5, Sydney, NSW, AUS, 2000
BCAL Diagnostics Ltd is a biotechnology company developing a novel blood screening test to improve the early diagnosis and monitoring of breast cancer that is safe, cost-effective, accurate, and available to all women regardless of age, race, and geographic location.