Botanix Pharmaceuticals (ASX:BOT) Beneish M-Score: 1.69 (As of Jun. 24, 2026) — 23% Above Median


What is Botanix Pharmaceuticals Beneish M-Score?

Botanix Pharmaceuticals ASX:BOT -5.00% Beneish M-Score is 1.69 as of Jun. 24, 2026, which is 23% above its 10-year median of 1.37. The stock has 7 warning signs investors should review. Among 831 Biotechnology companies, Botanix Pharmaceuticals ranks worse than 88.93% 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.

Warning Sign:

Beneish M-Score 1.69 higher than -1.78, which implies that the company might have manipulated its financial results.

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

ASX:BOT' s Beneish M-Score Range Over the Past 10 Years
Min: 1.04   Med: 1.37   Max: 1.69
Current: 1.69

During the past 13 years, the highest Beneish M-Score of Botanix Pharmaceuticals was 1.69. The lowest was 1.04. And the median was 1.37.

Botanix Pharmaceuticals Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Botanix Pharmaceuticals'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.

Botanix Pharmaceuticals Beneish M-Score Chart

Botanix Pharmaceuticals Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 1.04 1.69

Botanix Pharmaceuticals Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 1.04 0.00 1.69 0.00

ASX:BOT vs VRTX, REGN, ALNY: Beneish M-Score Comparison

For the Biotechnology subindustry, Botanix Pharmaceuticals'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.

Botanix Pharmaceuticals Beneish M-Score vs Biotechnology Industry

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

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


Botanix Pharmaceuticals 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 Botanix Pharmaceuticals 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 * 0.4101+0.528 * 2.4825+0.404 * 0.8308+0.892 * 9.5631+0.115 * 0.8112
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0711+4.679 * -0.060816-0.327 * 11.1572
=1.69

* 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$3.20 Mil.
Revenue was A$5.76 Mil.
Gross Profit was A$2.32 Mil.
Total Current Assets was A$99.59 Mil.
Total Assets was A$129.10 Mil.
Property, Plant and Equipment(Net PPE) was A$1.38 Mil.
Depreciation, Depletion and Amortization(DDA) was A$2.26 Mil.
Selling, General, & Admin. Expense(SGA) was A$71.49 Mil.
Total Current Liabilities was A$24.92 Mil.
Long-Term Debt & Capital Lease Obligation was A$22.88 Mil.
Net Income was A$-86.40 Mil.
Gross Profit was A$0.04 Mil.
Cash Flow from Operations was A$-78.59 Mil.
 Total Receivables was A$0.82 Mil.
Revenue was A$0.60 Mil.
Gross Profit was A$0.60 Mil.
Total Current Assets was A$82.90 Mil.
Total Assets was A$112.47 Mil.
Property, Plant and Equipment(Net PPE) was A$0.07 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.07 Mil.
Selling, General, & Admin. Expense(SGA) was A$6.98 Mil.
Total Current Liabilities was A$3.73 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.00 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)
=(3.204 / 5.757) / (0.817 / 0.602)
=0.55654 / 1.357143
=0.4101

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)
=(0.602 / 0.602) / (2.319 / 5.757)
=1 / 0.402814
=2.4825

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 - (99.587 + 1.384) / 129.095) / (1 - (82.901 + 0.072) / 112.465)
=0.217855 / 0.262233
=0.8308

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
=5.757 / 0.602
=9.5631

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))
=(0.073 / (0.073 + 0.072)) / (2.264 / (2.264 + 1.384))
=0.503448 / 0.620614
=0.8112

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)
=(71.489 / 5.757) / (6.979 / 0.602)
=12.417752 / 11.593023
=1.0711

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)
=((22.875 + 24.921) / 129.095) / ((0 + 3.732) / 112.465)
=0.370239 / 0.033184
=11.1572

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
=(-86.396 - 0.04 - -78.585) / 129.095
=-0.060816

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.

Botanix Pharmaceuticals has a M-score of 1.69 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 1.69 mean?
Botanix Pharmaceuticals (ASX:BOT) has a Beneish M-Score of 1.69 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Botanix Pharmaceuticals and its competitors. This is 23% above median its historical median of 1.37. Over the past decade, Botanix Pharmaceuticals' Beneish M-Score has ranged from 1.04 to 1.69. According to the industry distribution chart, Botanix Pharmaceuticals ranks #739 out of 831 companies in the Biotechnology industry, placing it in the top 88.9%.
Is Botanix Pharmaceuticals' Beneish M-Score too high?
Botanix Pharmaceuticals' current Beneish M-Score of 1.69 is 23% above median its 10-year median of 1.37. Over the past 10 years, this metric has ranged from a low of 1.04 to a high of 1.69. Based on the distribution chart, Botanix Pharmaceuticals ranks #739 out of 831 companies in the Biotechnology industry, which is in the bottom quartile relative to peers.
How does Botanix Pharmaceuticals' Beneish M-Score compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Botanix Pharmaceuticals ranks #739 out of 831 companies for Beneish M-Score. This places Botanix Pharmaceuticals in the lower half of its industry. Historically, Botanix Pharmaceuticals' own Beneish M-Score has ranged from 1.04 to 1.69 over the past decade. 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 Botanix Pharmaceuticals and its competitors. Botanix Pharmaceuticals's current Beneish M-Score is 1.69, which is 23% above median its own 10-year median of 1.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Botanix Pharmaceuticals stock overvalued right now?
Botanix Pharmaceuticals (ASX:BOT) has a current Beneish M-Score of 1.69. The current Beneish M-Score is 1.69, which is 23% above median its 10-year median of 1.37. 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 Botanix Pharmaceuticals (ASX:BOT), the current Beneish M-Score is 1.69 as of Jun. 24, 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.

Botanix Pharmaceuticals Business Description

Other Exchanges BXPHF:USA
Address 41 - 47 Colin Street, Suite 3, West Perth, WA, AUS, 6005
Botanix Pharmaceuticals Ltd is a dermatology company. The company focuses on developing safe and effective topical treatments for serious skin conditions. It has an exclusive license to use a proprietary drug delivery system for all skin diseases. The company's product pipeline includes BTX 1503 - Moderate to Severe Acne, BTX 1204 - Atopic Dermatitis, BTX 1702 - Rosacea, Sofdra - Axillary Hyperhidrosis, and others. The majority of Revenue is derived from Australia.